From all that can be learned, the recent decline in silver is based entirely on the operations of a number of speculators who have been bearing the market. The transactions on paper run up into millions in the monthly aggregate, against which there is a deposit of the metal, said not to exceed $750,000, against $7,000,000 and upwards were on hand some time ago. This discovery, accredited toa New York banker, exposes the very root of the evil. With silver stricken off the list of the exchange, the market for bullion would be regulated entirely by the supply and demand, As it is to-day, the mines are suffering through the depression in values, maintained by desiers who-manipulate certificates which represent absolutely nothing beyond the flimsy paper on which they are printed. Silver is ecaroer in America at the present than many people would imagine, and the surplus which is quoted vow and again for speculative purposes is made up from bogus estimate, The true position of silver in this country to-day would be a revelation to many who think they are well posted on the subject in all its different branches.—San Francisco News Letter, 1st December, 1892.
Text read from the printed page and cleaned; old type leaves the occasional error.