The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-12-10
acknowledgement.
The Future OF SILVER.

r,us,, ssyd, who IL credited with the
l.yire br which the silver dollar was de.
"oo,Il, "a 10 the act Of Feb. -, 1873, has
I,ilt.u The lollowins-which is import
'ntii trie-to the London 7Smea:
IN reference to the statement that Ger
0,S, during the last SIX years has diSpo-
II II about one half Of her surplus
~ Of silver, some modification appears
w, During that period sum Of
ri 100000 has been sent TO England; but
js,IDp ina. came time the produce Of the
German silver mipes must have amount
i To 1880 900, so that 80 far only ga.
moo Of the supply from the surplus
soiu.g, may be said to have come TO Eng.
Ind The quantity exported via Trieste
ar ,eut elsewhere il not important, and
G,(ierman Government has always on
S,nd large stock Of refined silver ready
S,SIport. In all It can be said that
Gsrmany has disposed Of two,ffths Of her
IrpIus coinage during the last six years,
,nd that three iilths, besides the annual
ll,25O,OOO fresh produce from mines, re.
n,ip. The fact that there is no very sen.
ibIS diminutiOu 10 the silver thaler cir
epls,iOn 10 Germany confirms this state.
I.uh, The old subsidiary coinage is
changed for the new one, and the former
di,ty bauk.noLes replaced BY gold and
NE new more limited fresh note issue.
We here in England have to face this
ust,er on behalf Of India as we'll as our
own rold store. Now we must bear in
mind THAT since 1871 We have raised Tor
Ipdil about E95, 100000 sterling loans.
,u,pending thereby an equal amount Of
Coancil drafts, and something like 81, !.
10000 has gone out for fAmlnes. This
Ieguivolent, say, 10 G26, 100000 excess
Of balance Of trade. For the future,
then, unless we continue to raise between
lhree and four millions per annum for
Iudl., by way Of fresh loans (the annual
Interest OF which must necessarily oper-
Ne IRaInst Iudias future bAlance), and
unless the German Government does not
End "a more silver than it has done on
he average during the last six years, the
,iler market must still further decline.
II the balance Of trade in favor Of India
increased by Gn equal number Of mill.
ions, the silver market at the best, would
coullnns in the state that it has been du.
log The last elk years; but rising prices
10 India on account Of cheaper silver and
larger shipments Of goods would have
70 deal here in Europe with cheaper
rates for larger consumption.
Indian bankers and merchants should
lave regard to these circumstances
Above all, the German Government
Ihould take them into consideration, and
make its arrangements so as not TO press
oar market. II things In India remained
pretty we'll as they have been, an extra
import Of silver Of about $4,000, 600 per
lanum might not lower the price Of sill
yer much below the fluctuations expert
euced lately, until the EOS, 0O0,0 900 sur
Plus German stock Is exhausted, The
delicIcy Of our market is now such tina
recent sale Of E5O,OC0 knocked dowr
The price by per cent, How far thu
American silver will interfere remains L
be seen. The accumulation in Americs
must now be large, and, tthe law for lie
calender for silver passes in any modified
form, the Americans may retain the grea
ht part for themselves for some year,
but The adoption Of the relative value Of
] 10 10 will bring their system into ire
eOuclleable conflict with the other bime
tAlIiC states. The suggestion that tn
balance Of trade now so strongly in fay
or Of Iudia, might lessen, or that at SOM
time, as has been the case before, II nigh
turn against India, and the effect thereo
90 Mlver, remains in allegiance.