The Leavenworth weekly times., 1878-02-21

1t seems in these years that the produc-
tion was entirely disposed OF and Germany,
Scandinavia, Italy, and Austria had parted
with handsome sum of their discarded
silver besides. For the disposition that has
been made of silver since the period just
named again quote from DIR. Linderman
in his last report. He uses it, as appears,
to sustain his theory that silver is deprecia-
ted permanently, that is suppose by pro-
duction, but 1t answers my purpose to dis
prore that theory fully as we'll. He says:
A circumstance which would appear to prove
beyond reasonable doubt that the change in re
lative value of gold and silver is due CHIEFLY to
a depreciation or tall in the value of silver is
that within the last twenty-five months the
export of silver to the Eastern nations from
London and San Francisco has amounted to
about SIZE, 800 60 and that under this unpre-
cedented demand, including the consumption
during the same period OF about 2S,3DUO0O
for the fractional currency in the United
States, making together over Sl1l 5000 the
average price of that metal has not risen
above a pence against GO 5-ld pence, the av
erage OF lS12.
II silver had not really deprecated, this
demand, which probably exceeded the entire
gold coinage of the world for the same period,
wSid hawe bch carrier m rne riee ,o n or apGse .ae
money system was changed In the face of
these facts, the assumption that gold has D.
preciaied in value does not appear TO be well
founded.
Thedoctor says the price of silver has not
risen under the stimulus of this demand
over "a pence per pound, which is true, but
he tdiLs TO state that it has risen from 461
pence 10 that point and when take into
consideration the fact that demonstration
by the United States opens the door for the
absorption Of silver largely in excess of the
amount Europe has to dispose OF, and the
further fact that the S143, SOC, 600 of silver
sent to the Eastern nations in the last twen-
ty-two months is largely more than double
the production for that period, l believe l
am fully warranted in my position rela-
tive to the first subsidiary proposition
heretofore spoken OF, which is tha, the
world can absorb more than the present pro-
duction OF silver. Now, in reference to the
second subsidiary proposition. that is, Will
the present unusual yield Be diminist ed ?
Having begun to quote from the opinions
OF the director of the mint Or. Linderman)
/ find the habit grows upon me, and on
this point / submit also his testimony;
which is as follows:
accuracy how long this large Fate OF produe-
ton Will be maintained. A gradual increase
in Montana and Arizona may be expected
and there Is nothing TO indicate a decrease in
any bullion producing state or territory e.
celf IN the state Of Nersda, and that depends
upon contingencies which, to . great extent,
must be a matter Of conjecture only. Sever.
al mines in different localities In that state
have, within the last year or two, been OPEN
ed and are producing considerable bullion.
meantime .may be discovered viii Yield suf-
dcient TO make UP the decrease trhich sooner OF
Lafer [unless some other ore bodies on the
A. r<ct- Stnl bn
somewEa doubtful.
The italics and brackets are mine.
will now give the table of the worlds
total production each year from 1900 to
1877: