Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1881-12-01

featured fine, standard. sterling and unpart-
ed bars to the amount of 500, 80. 6l9 "a
I'D and %. 5I2, 2323j in silver
Mr.. Burchard estimates the consumption
in the arts Of gold and silver in this country
at eleven millions of gold and six millions
silver annually. lie estimates that at the
close Of the fiscal wear the gold coin in cir
culation amounted to $40 200, 900 and Of
silver coin Sill 100000. These amounts
were further increased NJ to the first of
November, and at that date the amount Of
specie. including bullion in the mints and
ASSAY Offices available for and awaiting coin
age. was 1868 coo. 900 Of gold and 1856.
00o. 900 Of silver-a total Of $40 900 900.
The report. referring TO the probable res
toration of silver TO its form place in the
monetary circulation. says: The lnterna-
tiOnal Monetary Conference which met At
Paris in April last. instructiyely discussed
the subject of common ratio on the coinage
Of gold and silver But no practical conclu-
sion was reached, and il is a question for
our serious and early consideration. whether
it is not desirable to suspend the further
coinage Of silver until. by international
agreement and effective legislation, the un-
limited coinage of silver and gold at a com
mon fixed ratio shall have been authorized by
the principal commercial nations Of Europe
and America. The United States has done il
part towards retaining silver a monetary
agent for measuring and exchanging values
For three years il has appropriated TO coinage
purchases one third of the worlds produc-
ton Of silver. and maintained its average
bullion price nearly to the average Of 1878
A. was said in my first report, should the
s6jo, Dn.OsiD Of silver coin nov fun legal
tender in Europe be dcmonetired. The
United States could not, single handed
among commercial nations. with no European
cooperation or allies, sustain the value Of
silver from the inevitable fall With that
danger menaolng us ne cannot, without
serious embarrassment, continue such coin
age, unless other commercial nations will
agree upon the general use Of silver as well
as gold. Bat should such international
agreement be secured. neither our ratio Of
comparative valuation, nor even one based
upon the present eNohangeablc value Of gold
and silver, will probably be adopted. The
ratio of IL ~ 10 one already approved and
IN use among the nations composing the
Latin Union. would doubtless h. chosen.
This would. If the coinage OF silver As well
as gold at all the minis Of the world we're
made free, As hImetsllsm implies, cause the
voluniar, withdrawal from circulation OF the
standard dollars and their rrcoiuagc In
such case the further coinage % silver dol
lars of the present weight. unless needed
for circulation. j. useless expenditure
The Director estimates the worlds pro
duction Of gold FOR the calendar year $50.
at slo7 go .OO0, and Of silver 80 500. OOO.
1he CONSUMPTION Of the world IN the art. j.
estimated FOR the same period a, 5000.
OOO Of gold and S}j .OOO .Op1 of silver. The
estimated circulation Of the principal coln.
tries Of the world Is placed a Gold.
s3.22l 10000 full legal tender. silver.
S2.ljj.0O0.b 90; limited tender. 1923. ub1.-
~. Total specie, sj.1j9.oo0. 900 paper.
sJ.|ii.ppo,0 ol. making the total circulation.
including the amount held 10 Gqvcrnmfu,
treasures. banks aud IN active circulation.
50 las ls,n 900