The Elk Mountain pilot., 1880-07-01
THE SILVER QUESTION.

Alex. Del Mar, OF the United States
Silver Commission, has written paper
on the Present Phase Of the Silver
Question:" from which we condense
the following:
In spite of the continued great pro-
duction of these metals from the mines,
the stocks of coins throughout the en-
tire western world have greatly di-
minished.
The total stock of CONS in Europe
and America and the European colo
MES was, IN 1870, about ss,6oo.ooo,
900; in 1877 it was only s., 5oo,oo6,-
900, and in 1879 this stock fell to
s., 500, ,ooo, 600. Of this amount ST.
100, ooo, 900, or one third was in silver.
Two very important questions occur
in respect to this state of facts, SO am
ply verified, the one historical and sci
entiic, the ether political and practl-
cal.
Tirst.-What has become of the
enormous quantities of the precious
metals produced in North and South
America, and Australia?
Second. of the stock now on hand
in the world in the shape of coin and
| bullion, what nation has the most of it?
The answer to these questions will
suggest third one but let me endeav-
Or to answer these first.
l. Since the discovery of America
and up to January +, 1879, there has
been produced in the western world a
mass of gold and silver equal in value
to 1900 million dollars; and this in
ciudes about SEQ millions obtained
from Japan by the Portuguese and
Dutch, chiefly during the 10th and
18th centuries. To this must be added
about $50 millions believed to have
been in the western world at the time
of b''.-areat -.sco err making d total
supply Of say 1880 millions. O
this vast sum, but $500 II, lions re-
mai'. What las become u the res
-[uelt!' YEA YEA, J. 80 .n.a.ohs l.,,,1 beer
shipped to Asia, chiefly to India ane
China. As for the balance, or 6,35e
millions, it must have been consumed
in the arts. Some little has been los
in shipwrecks, and some-a compare
tive trife-buried for safe keeping and
forgotten, or lost. But that Of the
entire production nearly one-half has
been consumed in the arts is fac,
that can scarcely be doubted; and is
one of the no little interest and i'm
portance.
II. Of the present stock France
alone possesses from 1000 to I,Ioo
millions, Or one-third -; Great Britain
possesses $40 millions, or little less
than one-sixth; Germany possesses
400 millions, Or about one-eighth and
these three countries together possess
no less than 1000 millions, or nearly
two thirds Of the whole!
III. When we consider that the
combined stock of coin and bullion;
amounting to about $500 millions,
forms the measure of value for the en-
tire western world and that any In
crease or diminution of it must neces-
sarily affect, not only the prices OF
goods, but likewise the value of lands,
OF stocks, OF annultles, IN snort OF all
kinds of investments, does it not ap-
pear to be about time that the United
States government should reflect upon
the extreme danger it is running in
permitting any portion of this univer-
sal measur. of value to be locked up
or sequestered? Remember that nine
tenths of it are in foreign hands, that
nearly two-thirds Of it are in France,
Germany and Great Britain alone, and
that at most but one-tenth of 1t, or
from $50 to $50 millions is IN this
country.
General Freight Agent Eccles, Of