Show WHY NOT MORE FOR SILVER SILVE R we are at a loss to ander understand stand just why a higher price could not be paid for silver it costs the government nothing to purchase it merely the printing of a few more silver certificates had it been placed at 77 cents or higher there would have resulted a wave of prosperity all over the west with a boom in mining employment could be provided for thousands of men now idle and the cities and towns would experience a new wave of prosperity but wall street was against it theres the reason now and always that parasite on the nations life is always opposed to the people having sufficient money for their needs because it profits most and controls best when money is scarce and dear if the government would take over the banks issue its own money and put wall all street out of the picture it would be a mighty good thing for the people progressive opinion the record is astonished at this bi biased ased shortsighted short sighted attitude on the silver question by an altruistic disciple and prophet of human welfare such as our good friend C N lund such talk is rank sectionalism and totally unfair to the rest resi of the nation the price that the government is paying for newly mined silver in this country of cents an ounce is practically one third more than it will b ring bring upon the open market which amounts to a 33 per cent subsidy to the silver mining industry of pythis this country on to top P of hisae this the govern government men t has no earthly use for silver it has approximately two billion dollars worth of this white metal now lying in the government vaults guarded day and night at a considerable expense to insure I 1 that it will not be stolen only a very small portion of it is used as money principally in the shape of minor coins most people object to carrying a load of silver dollars and request paper money even in amounts less than five dollars above which amount it is not everi even legal tender the only excuse that can be offered in support of the governments concession and subsidy to the silver miners miners and silver mine owners is the fact that it furnishes some employment to labor but what kind of employment about the most hazardous unhealthy employment that can be found and the product is one that cannot be eaten worn as clothing burned as fuel or used to improve housing how much bett erthen for government to pay this subsidy to farmers or the manufacturers of commodities that are needed to improve the standards of living of the workers and the fact that we live in the west where most of the silver mines are located should not blind us to the facts which underlie the silver question perhaps a few of the mine owners and the silver re finers make fortunes because that question of profits always has to be the main factor even so it would be far better to make a profit on the production of goods and services for which the people are in real need there is no need in this country for more silver we have more on hand now than will be used in the manufacture of silver service and ornamental jewelry in the next 50 or years so why have the government go on paying a hourly oil on its production and store it away inactive in government vaults why not have the government offer a standing price for wool wheat cotton corn and sugar one third above the current prices at least the people can eat and wear these commodities while the silver is next to useless there is no sense in men risking their lives and health delving into the bowels of the earth for metals that are not needed and for the government to continue to pay synthetic prices for the product merely to bolster a declining outgrown industry or innovation is mighty poor economy the chorus of western senators and congressmen to f 0 the contrary notwithstanding if there is not enough legitimate demand for silver to maintain a price that warrants the operation of mines they should be closed down and the workers employed in producing necessities even under gov subsidy if that Js found to be necessary So faras as the sil silver ver being need needed ed to support our currency which some will claim is not warranted by the facts the intrinsic value of the silver coined into a dollar is i worth approximately 40 cents on the open market and will ber worth considerably less than this any time the government ceases to purchase silver so it is not th the evalue value of the silver that it contains that makes an ounce of silver worth a a dollar it is the credit of the government that sponsors it and we all know that a paper dollar is worth just as much as a silver dollar regardless of the fact that the paper it contains is not worth more than possibly a tenth of a cent yet people eople p prefer it i t to the silver dollard in the last three thred lines of the quoted editorial progressive dessive opinion gets around to fundamentals and talks sense truly if congress would repeal the national bank law and the federal reserve system law and restore the functions of money to the congress where the constitution placed them we could soon emerge from beneath the load of debt and depression that the manipulation of money has consigned us to but even the restoration of free and unlimited coinage of silver at the ratio of 16 to 1 with gold would not have an appreciable effect upon our present economic dilemma |