, 1876-07-27

TIE DEPRECIATION OF SILVER.
ncuort Of tito Committee Appointed by tho
tfrit,s], rnrlfamcnt-Tle Conclu3ous Ar
rlyel at by tho Committee.
The British Parliamentary ComhItteton tho
Dcprcciation Of Silver llas made It's rcpot, and
Tie London Tina gives the following sutnnary
nj tho conclusions at which tho Committee nr-,
rived:
II s 95s yoi .!anf soanfss s' s wss 5
tota aanurI @ IT,, Of sI'yer ss
81 IL s i 81 ySS y liz ne.
@ ufd Sass r ts e ~
fof so1e years to come on ths other hand. II tho
I,rIce of byer should remain ~ low at present,
ihcrr ma5 be sone d'n'nut'on In thu production
j. Gs1many has still to dispose Of On amonnt
Thcn fa not ae exaesd e.
bit with che possibility, on tlc other l.ana that
considerably lareer uun than Tho e,tn,ated amount
may DO ultimately required for subsidiary coin.
i. The Scandinavian k'nedom., hare discontinued
G use Sf Se t6o%n
the market arc not Important.
5. Austria tlaa apparently been exchanging silver
l.ank having Diminished from 1lo 900, 600 to &C.
y h. 9n aqs ., S ss
ported; her forced paper currency has apparently
expelled tho who'll OF the metallic curieney. OF
Which tho silver Culuk amounted, IT the beginning
!. France, on Tie otl.sz hand. has for some
e o ast o1 hass
exceeded lef a. ports bY ss3, Soo, 900.
!. England. l.ussia, and sEall, have each been
i. japan and Ch,na md other countsiea Ia tho
East hhye absorbed certain amonnt.
ereasca amounts.
II. The llonls Government has Bills to sell to
oTs 10 inin can hay in tha niacs Of rca,,stfng
bullion. Ths total has been gradually reached, j,
auI rcprcsents nn cxccta Of more than f10 600, :
The gro.s remittsncoa Of s!iyer to India dur.
Ing tho last fouE yeass i,ayo beea elo oO0, 600,
csinpascd with s2s' ooo' ooo in the four previous
IrrislutlYely, tic posit!on 10 as }ot1ovs:
Germany Is ,gsaaually don,one.izIng si1yor,, and
Thc United States f carrying out policy Of In:
iii ifassisna % iaper currency now aaatp. a pd ad % Of
sontrased ] scnle, and only ayai1abls for legsleep
TIC b ee q the Latin Union and uoooa
hnys aaopsd sn esnssSta1t 4, attnae, b.Ii meanwhile
No Indications IRE giycn Of any Intention o. the
part Of Knssla and Austria to pass auy laws viii,
tcgstd to theif currency. '' 4"' A'''' ''"' van
speak for thumselses md It viii 10 seen al oncc
which of the1u arc In favor pf rice In te pricn ri
slycr, and which OF them tend Ia contrary dtrec.
tion. II IL important, too, that tue temporary
eha:actes Of Others shoaa DO fus ake ' into ac
count. The surplus stuck OF Germany will In ali
probability weigh heavily on tho murEct for soms
inc 10 CONC, stlii it Is temporary ctrcuastxucc,
Ou the other hand. tho United btates viii ns1or.l
owl coll'ago considerable aulounts OF lis siivci
there produced. 1t is, inllc4I, uussible nCcprdjng
to the evidence adduccd, tllat tho United Statet
will resain CO Mnch silver Tor her new eo{nuet
suit nf hers.
The casc Of France deserves especial attention.
Tue sepcnishn,cnt Of er stock Of silver can SCARCE
" be regarded as other than Temporary ctyctlo,
staass, During tl.e laAt Tour yca1s, out u tola
sorbcd 45: iou. ov0. The relief thereby given K
the market must have tccn Immense, II is in
possible to that II can hs continued on I'll.
tame sca,e., The natural Inference 10 DO dSAwl
With regasl to India sad ihe East, hitherto tn,
npon tho posiss.y If lie ,on.bs. o,, oyptn, ~,
abundance Of ttie crops-tn fact oil tlcir rpwere
cast and, regards actual faCts no more can b
slated than thar, on tic ope hand, ticy hnye al
ways Possessed y very large puwct pf ubsarbn
bullion, willis, on thu either, tint powrr bar bcsi
dm!n,shsd II M " te growth Of the sums annual,
rho on!y facts Ia huy calculations ~ 10 th
future which ate certain and npbear In In mar
nHHcnt, arc tie Increased total plvuctlon Of x[ye
ond thu effect caused by the necessity OF tho lmjia
Government to draw annually tor 4 heavy amount
fsi tsy so but thsy nay y partially
~ Eape., IL ns tas tsae WIN e East
sroa iasea ey ts t,aVsrnsm' mnsi asPsaa upon tn
cO,NtrIrA Yhrro Ina nnst.nn - - y. nv 'attou