The New York herald., 1877-09-14

gold All favor H. am pleading for silver Also The
statistics here gwen are Of high authority and be-
ieve they sufficiently reliable II Will be observed
that have brought this particular inquiry up 10
tho year 1875 What does the century thus lar dis.
close to the relative production Of the two metasY
At the beginning during the earlier part OF they
produced the proportion OF three OF silver TO
one Of gold. THIS made no disturbance. Al the mia,
boon reversed and the production was /. OF gold
to 6S-100 Of silver; from 1852 to 1856 1t was l. OF
as silver; from 1857 to 1875 OF gold to 6sl00
OF silver the same in ls4s. In the language OF the
British Commission. 1.-The conclusion seems justified
that review Of the relation Of the metals in times
past shows that the fall in the price OF silver not due
to any excessive production as compared win sou.
per than that OF silver. How II was in 1876
We not sufficiently informed, but It was probably
greater and so II may be IN tho present yoar and for
a few years to come. But IL is declining aud may
at last become Insignificant. On the other hand,
nave reached lis maximum; i. may go still higher;
1t may ere long decline. We cannot tell This
We know: Its production IN all other places
than Nevada Is not increasing, but rather decreasing,
the famous mines Of Nevada are but pockets that
may be soon enptied. There have been Wild stories Of
The excessive production OF silver and stll wilder ones
OF its probable future production The facts are before
and surely weAre not yet called upon to abandon
IL and TOO WISE to- do upon an uncertainty;
policy or into policy by mere apprehension There
precedent for Just here, full OF counsel and CD.
couragencnI Ins 1882 tho grch outpouring OF gold
from Russia, Austyalia and California began II came
flood. ASIA was upon silver and therefore, could
Yeccptaces sufficient to contain it. Almost the entire
world upon the single standard OF silver; England.
with her colonies OF Australia and Canada and Turkey
Persia and Brazil wcro at tnat timo the only places
upon tho single standard OF gold, and Turkey Persia
and Brazil, but nominally. Even Portugal
yet upon silver and the demand for either metal was
smaller than now. The flood continued without inter-
mission and In such volume that II poured upon tho
world nearly nine hundred millions OF gold IN the
short space OF SIX years. In comparison
with It the present flow Of silver IS but
a rivulct. There was great alarm, for
this outpouring unprecedented and unexpected.
Then for the trst time. decentralization was recon-
mendcd History gives no previous instance Of such
. a recommendation. 1t was now urged and few timd
nations fed to that refuge. Others were wiser and
braycr conspicuously France, with her b me tac
te She emped her great reservoirs Of silver and dllcd
them with gold the Hood subsidcd, ana what came
as a danger changed TO blessing. What
would havo happened II gold, under the prompt.
ings oil blind panic, had been abandoned IL
is difficult to conjecture. As 1t was, 1t went
down, We are told, low as nve per cent.
below silver but fortunately was tied silver then
very buoyant and could not sink Gradually and
soon enough It and the metals again hoatcd to-
gethcr quietly and evonly II would be most interest,"
ing il could pause and put before you even faint
picture tho magnificent consequences Of that great
accession of com; but must pass on.
The next objection TO silver is its alleged dcmonctiz
and silver? The following table. compiled from ac
credlled publications and brought down to 1885, gives
the population of the nations mentioned and groups
them under their different systems. 1t is sufficiently
full aud accurate for our present inquiry