Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1885-10-24
GOLD AND SILVER.
Depression Of Trade I'm England.

depression OF TFoOe IN EnSiauu.
Great Britain has $r,76o, 900 900, in
silver coin circulating within her do
minions. OF this vast sum $o5,goc, 900
circulates in England, and over 81 900,
900, 900, in In liza alone.
Under English rule. the people OF Int
dia are gradually assuming the taste
and habits Of Europeans, and, in conse
quence, the employment Of money is
becoming more extensive as the people
progress. This compels England to
buy silver continuously 10 meet this in
creas ng demand.
AS the United SAFES are the greatest
silver producers, the English Govern
ment ordered the Bank of England TO
buy'at an advanced price all the gold
it could get, paying therefore in Bank
of England notes, thus employing its
credit TO bull the gold markets and bear
the silver. BY so doing it has created
the belief that the price of silver has
deprecated, and some people believe ii.
As the Bank Of England is paying its
own notes for Tins gold, how long will
it be before the circulation Of such notes
will exceed the current demand, while
its purchases OF silver is steadily drain
ing its gold? How are these bank noes
to be redeemed in case Of general run
upon the bank1
Americans bankers may be frightened
by this arbitrary advance in the price Of
gold created ty the Bank Of England
having offered a premium for it, but
American statesmen should ready to
meet this bold attempt to destroy our
silver interest with an increased demand
for silver, and thus strike England
through her nee essity to obtain silver
for her India possessions.
Prices upon property Of all kinds in
India are gradually rising since Eng
land gained entire control there, and in
consequence more silver coins are re.
quired yearly to conduct the business OF
a country containing 24o, 100000 Of
people. She must buy this silver Of u,
because she cannot get It in sufficient
quantities elsewhere.
lie, our miners sell all their silver to-
the American Government at the Lon
don price, taking silver notes for it. As
received the Government should convert
it into silver bars Of full value, or INFO
coins; as circumstances shall dictate.
Now, Englan has to pay in gold, be.
cause silver is not legal tender beyond
forty shilIings. England is compelled
to purchase silver continuously for her
dependencies, more especially for India,
for which she must pay gold and the
freight upon it from America.
This steady dram OF gold on England
while her supply is Obtained monthly
by the issues of the Bank of England
notes in return therefor at an enormous
price, must inevitably end, sooner or
later, in general crash in her financial
affairs.
No wonder English exports have fall
en- off during the last five months end.
ing in June the first more than $3.50.
900 900. In the next few months her
losses in this respect may be much
greater, as the gold standard Of values
ruling in England must continue TO de-
preciate the prices Of all kinds Of real
and personal property in that country.
England Is paying high price for gold
and selling her products at low prices
to pay for II, while al the same lime she
is paying US in gold for cotton and 9th
err products our double standard prices.