Show THE SILVER BULLION SCHEME Says the Winnemucca Silver State It is stated that certain New York capitalists have organized a scheme to trade in silver bullion certificates as grain and cotton certificates are now dealt in The head of the organization is the new Western National Bank of which exSecretary Manning and ex Treasurer Jordan are the principal officers The scheme consists in having silver bullion deposited with the Western i Bank ore elsewhere and issue certificates I for the same America is the greatest silver producing country and the great trouble in trading in silver arises from its bulk and weight The proposed certificates certifi-cates will make the business more easily transacted as a person who wants any number of ounces of silver can get a certificate cer-tificate for the amount Tho movement has progressed so far that certificates are j being printed for 500 and 1000 ounces of silver to bo registered with and guaranteed I guaran-teed by the Western Bank and application applica-tion will be made to have the certificates listed on the Stock Exchange This will subject silver tp all the vicissitudes vicis-situdes of stock gambling and the price of tim metal will depend upon whether the bulls or the bears are in the ascendancy ascend-ancy in the Stock Exchange T is i no worse however to speculate h ilver in New York than it is in Lou I and besides be-sides it will save the Govt nont the expense ex-pense of telegraphing t ondon every time it purchases bullio lor coinage to ascertain what price it shall pay for an article of which our own country is the greatest producer in thu world The scheme of tho New York capitalists capital-ists will transfer tho privilege of regulating regulat-ing the price of bullion from London to Now York and as the metal is as low now as London brokers can make it it is probable that listing it on the New York Exchange will result beneficially to producers pro-ducers It is an outrage upon the silver producing pro-ducing States and Territories that metal which has ever been classed as precious with a fixed value should by legislation inspired by the moneyed powers bo reduced re-duced to the level of lead and iron with its price depending upon the ability or inability in-ability of stock jobbers to corner it While the Silver State is i perfectly i correct cor-rect in condemning as an outrage the general oppiesnion to which silver id i subjected sub-jected by the financial powers that unfortunately un-fortunately be we must say that from the silver bullion scheme there emanates eman-ates a bright glimmer of hope Aside from the fact noted by tho Silver State that the new scheme wrests tho creation of the financial status of silver from the London broker and gives it to the American dealer we now have the certainty that the great silver bulk will be of the most possible direct benefit to the country which produces pro-duces it The new scheme will concentrate concen-trate silver in the American money markets mar-kets The pure white metal will become security for a vast amount of circulating value and its very presence hi that capacity will be a tower of strength and credit And this is probably the incentive of the whole scheme Messrs Manning and Jordan are men whose financeering is the financeering of genius They have been swift to recognize recog-nize that if grain and cotton were basis of value for the issuance of trade certificates certifi-cates how much more valuable and safe as a similar base must be silver a metal looked upon by a large proportion of tho Nation as financial value itself Wo are glad to see the concentration of silver in our own markets We are glad to see it recognized by the most shrewd and energetic exponents of the monied power as at least one of the leading bases of value Our own market is a safe place for silver It will come handy when the people call for it The silver bullion scheme is a presage of better things From the manipulation of the stock gambler gam-bler silver will pass to the control of the people It is true that stock gambling is not a yery desirable avenue for the coming com-ing money of the people to travel in reaching its inevitable destination But then we must reflect that stock gambling is as much a recognized modern institution institu-tion as the faro bank or the church ratio and we must thusly comfort ourselves |