Weekly Chillicothe crisis. (Chillicothe, Livingston Co., Mo.) 1878-19??, 1881-03-24
SILVER AND GOLD.
Amounts of the Precious Metals En-
ployed In the Arts and Manufactures.

oIlVCn HND uUlU'
Amounts of the Precious Metals En-
ploYed In the Arts and Manufactures.
Mr.. Burchard, director of the mints,
has devoted some space in his annual
report to the uses to which the precious
metals-gold and silver-are put in the
United States other than their money
function. One of the marvels that
linanciers are endeavoring to explain is
what has become of the $20O,0OO,OO0
of gold imported to and mined in the
United States within the last two years.
Notwithstanding the bankers say no.
body wants gold, more than 100000
600 in gold coin have left the bank
counters, disappeared from view and
have been absorbed into general circu-
lation. A greater puzzle is what has
become of the $l9,0O0,0 100000 of gold
and silver estimated to have been pro-
duced in the world since the discovery
of America. Only portion of it is in
use as money, for Mr.. Burchard, in his
last report, after a very liberal assign
ment to France and India, still finds
less than $3,000,000,000 of gold and
s., ,500,000,000 silver in circulation.
How much of the worlds stock of the
precious metal is annually appropriated
for other than the money uses has been
heretofore discussed. Mr.. Jacobs, in
1881, wrote a most exhaustive treaties
on the subject. From his investiga-
tiOns at that time he estimated the
stock of specie in the world had be-
come reduced to nearly fl,6OO,0OO 600,
and that it was more than $50 l,OlOOOO
less than it had been twentr rrTs
before.
This calculation applies to the - st
ern world. He estimated the ,ln.
sumption of gold and silver in the ans,
manufactures, and ornamcntations to
he about $28,000,000 in works alone
Between 1880 and 1875, according to
DR.. Soctber, the worlds production Of
gold was 1886, 100000 and of silver
$l,91S,000,000, total of more than
$5,000,500,000. A comparison of the
amount of gold produced in scventy.fve
years, with the amount in circulation,
will show that not only all of the
original stock of gold in the western
world in 1880 disappeared from view,
but that one-fOurth of the subsequent
production has been applied to some
use other than that of coinage.
A little over year ago Mr.. Burch-
ard took up this investigation, and sent
out a number of circulars to men who
were supposed to be using gold and sill
yer in the manufactures and arts, and
asked them for data. He has tabula-
ted their replies in his report. They
show that AS persons or firms have
used in manufacturing about 81 ,5OO,-
600 in United States gold coin and
$lSO,00O in silver coin, total con-
sumption of $5,S4S,00O in gold coin and
bullion, and S2,6O0,000 in silver coin
and bullion. From this and other data
Mr.. Burchard then estimated that the
total consumption of gold and silver
for these purpose in the United States
is $l2,00O,OOO annually -- $7OOO,OOO
gold and $5,OO0,OO0 silver.
He has, during the last summer. con-
tinued his investigation, and over 1000
circulars were sent out, and 1881 re-
plies have been received from persons
or firms using gold in the manufactures
and arts. These are classified as to
their operations or business, and
amounts in the aggregate used by each
Of gold and silver coin, fine bars, and
old plate is presented in his report in a
tabular statement accompanying the
same. Eleven hundred and seventy
two manufacturers of watches and
jewelry report as used by them about
$2,000,000 United States gold coin, and
100000 in silver coin, or total of
6,500,000 gold and 1860, 900 silver coin
and bullion in watch cases and solid
ware. Seventy-Seven persons or firms
report the use Of $2JO,OOO in
gold coin, and 100000 in sill
yer coin, and, adding the bullion,
etc, a total of $l,20O,0OO in gold and
Sl,Sl7,000 in silver, or grand total of
$3,000,O00. In gOld-leaf and plated
ware 103 firms report the use of $3.50.
900 gold and $6O5,000 silver, or II total
of $l,500,000. The total amount Of
United States gold coin appropriated
for all these manufactures during the
past fiscal year was $2,40S, 1853, and OF
silver coin $5,4lS,34l. The to al
amount of gold coin and bullion reported
as used by them was S8,634, 1913, and Of
silver $3,464,170, making a total OF
$l2,09S,363.
From these and other data Mr.
Burchard estimates the consumption
of gold in the United States for use il
the manufactures, arts, etc, at $10
100000 gold and $5,0OO,000 silver dur
ing the year. He thinks the result OF
these inquiries will be very valuable
contribution in statistical science
especially as it is the first attempt Of
the kind made since the time of Mr.
Jacobs, in 1881, a period of more thar
forty.five years. Mr.. Burchard madt
an attempt to have this statistical in
formation as to the use of gold and sill
yer in the arts canvassed by the census
takers, and communicated with Gen
. Walker in relation to it, but he has no
been advised whether it was done.