The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1883-11-01
GOLD AND SILVER.

Mr.. Charles L. FRANKIE, of Louis
vile, KY, has presented to the public
most interesting discussion of the
silver question. He does not admit
there is danger of the world becoming
overstocked with the precial metals;
claiming that their enormous con-
sumption in the arts, and by wear and
loss will prevent such condition. One
of the very highest authorities puts
the consumption of gold in the arts,
and in manufactures, at S58,OOO,O0O
annually, and of silver at 100000.
Others place this consumption respect
lively at $6s, 100000 and at sec, 100000.
In loss, abrasion, waste and burial
it is estimated that $3OOOO,OOO
disappears, making a grand
total of $125,OOO,OOO. The West
minister Review and the Journal
des Economists are quoted as esti-
mating the annual product of gold in
1915 at $97,OOO,OO0 and Of silver at
S62, 100000. or total of both medals
OF $l50,OOO,0O0. This would leave an
increase of only 100000 per annum
in the world, sum much below the
demands of expanding commerce and
growing population. 1t is from these
figures that the great economist, Set-
beer, concludes that gold is appreciat-
ing and that its purchasing power has
greatly increased in the past few years.
Mr.. Franks asserts that the market |
relation between gold and silver, since
the year 1879, during nearly two cen
turtles, unto the era of decentralization |
of silver in 1873 IN the United States, |
did not vary in London or any other |
market more than about per cent, |
except in the period of TAI to 1890, |
when the average variation reached 5 |
per cent. The relative price of the |
two meta Is from 1742 to 1873 varied |
from 14.74 to one, to 15.98S37 to one,
the latter being the present legal |
standard in the United States. Since |
1873 silver has been greatly deprecated |
in the markets of the world, which |
is largely owing to the course |
OF the United States and the wide adj |
vocacy Of recommendation. Mr.. |
FRANKIE states succintly the effects of |
silver decentralization and points out |
who the chief sufferers would be.
"The more you reduce the volume of |
the money of the world, as by demon
etizing silver and paper based thereon,
the more you increase the purchasing
power of the remaining money, gold
and the notes based thereon, and
other things being equal and un-
changed, proportionately depress
prices of industrial and commercial
values and commodities, reduce rents,
profits and wages, thus impoverishing
investors and bankrupting debtors"
The countries which use gold only
as a standard of value are Great |
Britain, Denmark, Sweden, Norway,
Portugal, Turkey, Canada, Brazil, Ar
gentine Republic, Persia, Cape Of
Good Hope and the Australian colo
MES, with an aggregate population of
13S, 100000. Those which use silver
only as standard of value are Rus
STA, Austria, Mexico, Central Amer
lea, Ecuador, Peru, China, British In
dia, Siam, Burmah, Dutch colonies of
Java, Madura, Egypt, Tunis, and
Tripoli, with an aggregage popula-
ton of 772,OO0,OOO. Those using both
gold and silver and having the double
standard are France, Belgium, Swift
erland, Italy. Greece, Roumania, Hol-
land, Spain, United States, Columbia,
Venezuela, Chill, Uruguay, Paraguay,
Bolivia, Cuba and Algiers, with an
population of 100000.
The population who use gold alone
as standard, and those who use sill
yer alone as standard and those who
use both are thus divided: