MR VINCENT PYKE ON THE SILVER BOOM.

Ashburton Guardian, Volume VII, Issue 1784, 8 March 1888, Page 3

MR VINCENT PYKE ON THE SILVER BOOM.

Mr Vincent Pyke, M.H R., who is at present In Melbourne, writes to the Dunedlo "Star" as follows: — One of the peculiar features of Melbourne Is the "silver boom." The excitement Ia tremendous. Old and young, mm and women, are Bllver mad. The Exchange and the pavement m front of it is thronged all day with buyers and sellers of Bharea. Whether It is a bona fide silver lode or a " wild cat " mice matters not. "If there is only a mere streak of Bllver," Bald & broker, "we oan float the company ; " bat no one will look at gold. One whole series of companies only professes to show veins aggregntlng In all 4ft m 66ft of barren rook ; but the ehsres have, been freely taken op, and run up to a high premium. In fact, just now silver Is kins; and gold Is nowhere — only a drug m the market. Of course this is not genuine investment, but sheer speculation for a rise In ntock. It is all Inflation, and when the bubble buretn, as burst it surely will ere long, there will be a silver panic, with much walling and gnashing of teeth. Then gold will come to the front again ; bnt the time is not yet. Probably the ( will land speculation now going on will last over the Exhibition. It Is questionable whether the still wilder silver boom can be kept op bo long, It only wants one big bolder to break down and the bladder will burst Before that cud happen thete will be some rough work done by the " bears " of tbe Exchange. Meantime the game goes merrily on, and £1000 is charged and cheerfully paid for a leatln the Stook Exchange. | heird of -one case In which » seat wbb sold for £1250. Brokers are making fortunes and, their clients will lose a mint of monty when the crash comes.