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Show SILVER DOLLARS IN' THE TVEST. . Plenty of Subsidiary Coin for i'e, nut I hr Anil-SIlrer ?Ien Don't Want te Send Out, the Silver Dollar. For some weeks the whole country west i of the Missouri River has been restricted I in the use of the silver dollar. For ex-; ex-; ample, the banks of Salt Lake have been I quite destitute of ihe standard dollar and have been compelled to borrow from one j another, outside banks, and to send to j Washington for the convenient coin. This 1 unpleasant state of affairs is brought about by the Eastern bankers waging war ! against the bankers of the West. Any j amount in Bilver dollars becomes legal tender, and not before has the export demand de-mand fallen short, as is now the case. In conversation with the Union National Na-tional Dank of Salt Lake, a Demoabat reporter was told a few facts leading to the restriction of the dollar in the West. It is well known that Utah, Colorado, Idaho and many Stales of the West are kept alive principally through their silver productions. The fact that the West possesses the silver used by the East seems to have created a jealousy, so to speak, and it is being satisfied by eastern bankers, through Treasurer Jordan, procuring pro-curing all the obtainable silver dollars and sending west simply the subsidiary or fractional coins, consisting of halves, quarters, ten and five-cent pieces. Walker Brothers purchased several thousand dollars of this small coinage this week, as they were unable to get the standard dollars. This condition of affairs is damaging to the West and profitable to the East, as no sum larger than $10 in subsidiary coin is recognized as legal tender in the transaction of lawful law-ful business. To get the standard dollar, certificates of deposit drawing interest have to be first deposited, and threo weeks' time is consumed in securing them from Washington, which amounts to a loss in interest on the certificates. Yesterday the American Bankers' Association As-sociation convened at Chicago for two days' action iu the matter relative to the present situation. The bankers of Colorado, Colo-rado, and all persons interested in the silver industry of the Wcst.including Utah and the adjoining Territories, received letters of invitation requiring attendance and co-operation in the matter of adjustment. adjust-ment. The West is generally against the demonetization of silver, and some gentlemen gen-tlemen from this city, including Mr. W. McCornick and L. S. Hills, are now at the convention. Mr. McCornick represent the silver interests of Utah and the West, and the resolutions or the convention are awaited impatiently by the silver men of Utah. The situation presents a sort of "freeze out" on the part of Eastern East-ern bankers, and some parties have even censured the Treasurer as being partial, if not interested. I |
