Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1883-02-28
SILVER TO BE REHABILITATED

In the February number of the
Popular Science Monthly there is an
article by +. Won Bresen on "The
Decrease Of Gold," in which he
states that the amount of gold being
mined in all parts of the world is d.
II inishing at a rapid rate, and that all
the gold available to man will, in a
comparatively short period, become
exhausted. He gives graphic sketch
of all the countries in which gold was
in excess in ancient times, showing
from history that large amounts were
taken from the rivers of Asia, Africa,
and from a large portion Of Europe.
From all of these countries it is safe
to say that, with the exception of the
northern portion of Asia and por-
ton of Africa, the supply Of gold is
practically exhausted. OF Africa, after
speaking Of the immense amount Of
gold known to have been in existence
there in the early ages of history
how ga king of Ethiopia who was at
tackled 10y Cambyscs, but not con-
quered, shackled his prisoners with
golden chains, since gold was more
common than bronco" how. accor
ding to Ednsi, "there was so much
gold in Sofala that copper trinkct
was worth more than one of yold''-
sums up by saying: "All these, no
matter whether they be fables or not,
individually point to the former i'm
mense gold wealth Of Africa, while to-
day it produces barely million dol
lars" and also says that "ncirher
China nor Japan produce sufficient
gold for home consumption" and that
"the three chief sources at present are
Siberia, Austria, and the nited States.
while the last two are becoming ex-
hausted," the product of gold in oar
country having fallen in 1882 to $50
100000, and in Australia from $1,000
kil)grammcs in 1860 to $4,000 kilo-
grammes in 1879. In conclusion he
says: ''Thus we find uniform decrease
in all parts of the world, and this at IA
time when the expansion Of commerce
makes the metal Indispensable. If
we consider, in this connection, that
America consumes at present great
part of the gold with which it formerly
inundated Europe, we are led to be.
licve that the national economists are
not altogether wrong in ascribing the
great periodically -occurring CONNER
cial crises to the want of gold. Com
mercial crises are like fever; after
convalesccnce certain equilibrium
is established, soon to be destroyed
again, however, and new elements
gather, finally producing another
crisis. Since America at present
spends alone ten millions annually for
gold and art productions, and, besides
this, has reserved a large capital for
speculative purposes, while its goll
production is decreasing, it NAV be
logically established tha, the gold for
commercial purposes must constantly
diminish and financial crises will rccur
in ever-shortcning intervals.
There is at the present time in the
United States, in gold coin and bull
ion, $3.50, 100000, and in silver coin
and bullion 100000, 600, making in
all sSOo,ooO,0OO as basis upon which
all OF our commercial transactions are
carried on. giving to each person in
the country about SIG per capita.
Now, at the rate of increase in the
t'Iu'a,ioti VI tiIc country tIut mas Oc
CURED during the past decade, there
will be more than 10000 900 of peo
pie In this country in 1895, and as
there is certainly no complaint being
made that there is too much specie
now IN the country for the population,
we will, 100 years from now, at the
same rate per capita, need more than
sS,00O,000,0o0 in gold and silver to
conduct the business of the country
upon solid basis; and as the produc-
ton of gold is rapidly decreasing in
all parts of the world, as already
shown, the time will surely come, and
that before many years, when silver
must inevitably resume its former
position as circulating medium. In
fact, all the circumstances IN connec.
/. Al II