Arizona weekly citizen., 1883-01-21
THE RECENT DECLINE IN SILVER

 Ibe mOnometalSsts in and ont Of Con sress are making great handle out Of the recent decline in silver to secure its demonetization or at least a discon- tinuance of the coinage of the standard dollar. Senator Hill, Of Colorado, who IS one of the best authorities upon the silver and kindred questions gives the following explanations of tue recent decline in silver n letter 70 the Den yer Tribune:
 Whenever there Is a decline Tn the prlce of silver bullion the mon uOmetalsts profess to see in 1t additional aud more imperative reasons for suspendIug The cOlnage of that metal lt Is made Co appear the decline Is caused bv h. creased production or by tue failure ol the msrk0ls of G.Iua and lnula, whI ;n Tor 80 many years absorbed d large share of the production of tAe mines. These causes are represented as prumI- n6nt, and is claimed the resulting Instability Tn the market valle ui silver renders It untt for use as a money metal. The fact ls, neither of these causes have been operative to any considerable tNtent during the last year. The statistics of silver prOduc- ton of the world for the year ending December 3l, lSS2, are not yet complete. but en lugn ls known to make IJ rat5 for me tO say that II there has been an ill., crease III production over tine two pre- cedlng years it Is slight ana ucouse- quent. As for the Indian market, BrlJ- lsh silver exports to that country Increased during the last ten months ul 1881 from Sl37 ,356 to S26, ,43l. .43l, and the exports or silver to China UurIug the same penod fell of only S2.UUU.UUp The cause of the late decline must be looked for In some other quarter. A Vienna correspondent of tue London Economist of August :, lSs2, states that the e1pOrtatlOn of silver from Aus TO- Hungary during the year preceding that date had been almost 5u,UlO,UUO forms, or S24,OOOO0O. The larger part of thl~ export occurred during the first five months of 1882, during which iJ amounted to SIS, ,432,UOU. A considers ble part of this silver went to India The London Economist of Decemue, lG, lSs2, after stating the fact of the ab- normal flow Ol silver from China tO h. dIa, adds: But bes alC this Austria has shipped E4O0O,UuO SlO,OOO.UjOl worth Oi silver from Venice, and thus the Indla markets have taken .l more metal than they know what to 70 with. This ez- port of silver from Austri8, principally during the first half of 1881, did Dot rise from any tendency In that coUu- try toward the gold standard, but from the fact that until the recent fall Iu gold the price of the silver form Ol that metal was worth more than the pa- Der dOrlu of Austria. It was the hIgl price of silver and the premium on u as compared with current paper mOues which caused that metal to be seut out of Austria. Decisive proof of that is the fact that since the late fall in t8p price uf silverit has begun 5o flow back The Vienna correspondent, Decembs Is. lSe2, iu the London Economist, ha- tle following:
 The falling price of silver causes large quantities of Austrian silver iiJ- rms to return to this country, SO the sil ver of the AustrO- Hun garlan Bank ln- creased by 3,500,0O0 tiorins within the past six weeks \ Paris firm which uu- dertook to coin 25,O00,OIO francs in sI yer, and purchased a large amonnt ol Austrian silver fiorins, has now sen back the @hole amount, buying silyeriu London at a lower prIce. To the alarm iSts among the mouometali-ts who de clare they can sec no limit Co the fal. of silver, 1t may bs said that SD far g. the recent fall has arisen from Au-trla. we can see exactly what the limits ary. The silver form is lawful money in tha country, and its limits are open Co l.. coinage. Whenever silver b1lhon Ina declined to such prIce that forIns cal be coIned of it at less cost than thr . value of the paper form, or in othe. words, with profit, silver will move Ir that direction, and that is V hat Is takIu- place now"