Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1886-03-12
COMMUNICATES.
THE WORLDS PRODUCT OF GOLD AND
SILVER.


metals?
The only way to arrive at proper
and correct conclusion as to whether
gold and silver are becoming too plen-
tiful for the good of the people, or
whether too much of it has been coined
into money, as a medium of exchange
for the other products of the world, Is
to ascertain from actual statistics the
amount of each metal now circulating
in the principal commercial nations
using these two metals as money, or as
a medium of exchange with each other
for the other commodities produced by
them.
Or, In other words. has the amount
coined and i'm use by the principal ma
tions of the world, been equal TO, or In
excess of the actual demand, per head,
necessary for the convenient, healthy,
and vigorous prosecution of business,
and for removing all the products of the
worlds industry to their final ports OF
consumption?
From the best, the most reliable anu
authenticated sources it appears, that
from the year 1902 up to January the
LIST. 1888 Am r., January 9th, 1883,
page 754), that the amount OF the pre-
cious metals, gold and silver, as the en-
tire product of the world. so near as can
possibly be ascertained, was $780,
2S7 900. OF this sum it is supposed that
by abrasion, sinking at sea, aud from
all other causes combined, the losses
and diminution OF this amount has been,
as near rs can possibly be ascertained,
about 81, 800, OOO, 900, leaving the total
amount of the worlds product at the
present day about SIS, l02. 2S7 900. Of
this amount $9,427, UP, 600 is silver.
From the best sources OF information at
our command, we find that it is eStl-
mated that there are about 81 900, COG, 600
of gold and silver in one form and an
other in the United States to-day. OF
this amount, according to the report of
the controller of the cul rency, up to as
late as November LIST, 1885, there APP
pears to have been gold coin in the
Treasury, the banks. and in the hands
of the people, 1886, 727 1871, as follows;
Gold In the Treasury sli2 3SS, 5S9
Gold in the hands OF the people,. 25l, ,2SS
Total gold coin ................ sooo, '''
And Of silver coin in the Treasury,
the banks, and in the hands of the peo-
ole as late as the above named date, as
follows:
Silver in the Treasury .Sl9OoZ3,f ~
Silver In the banks ......----..:.- ga2lSV2
silver in the hands OF the people. lU',sli,oll
Total silver coin. .............. S3oI 65S,S2I
If we take the entire amount of gold
and silver coin now in the United States
as reported by the controller of the cur
rency for the year 1855, from the sl.69O,
COG, 900, we have then left in the foi III
of bullion, watches, plate, trinkets, and
used in the arts, about the value Of
S796.2l9 1856 that form no part Of our
circulating medium, as follows:
Total amount OF gold and silver
In every shape and form In the ... ...
Gold coin. s5S6, 727,7sS
U,,,Iio,, nIata trintets 706 1Iq '2S6
Total. 81, $50, 900
Now, let u see how much of this
S3O7, 65S, S27 of silver coin is held MS Il
part of the reserve of the 2 ,727 National
Banks. and the other l.6SS State, saw
ings, and private banks, with the Loan
and Trust Companies combined, making
one grand aggregate of banking insti-
tutions of 4,4l5 for these United States,
with the very insignificant SUN OF 3d.
120, 1902 silver as part of their reserve
of 1886, 6lS,7l7. The average of gold
and silver in these 4 ,4l5 banks and trust
companies is as follows.
Average of silver in each. ........... 2Ooo.S613
Only about POS per cent. Of silver Il"
1914 per cent. of COLL now held rs the
specie reserve of those banks, while IL
is notorious fact, that the Bank of
France, the richest and decidedly the
most prosperous of any bank now in
the known world, with capital of ST.,
IA ,O57 1925, has 81 per cent. of her specie
reserve in silver, "coined and held at Il
valuation, in relation to gold. 3.06 per
cent. higher than it would have If coined
into silver dollars In the United States"
Let us take the silver reserve in the
banks of the United States to-dry, and
compare it with that of the banks OF the
other leading commercial nations of the
world, and the rate per capita of silver
to each individual In those countries,
and then, with an honest, fair and a
generous calculation, based upon de-
liSerate and conscientious conviction of
truth, ask those who have for the last
seven years assiduously and persistently
endeavored, by contraction of the cur
rency of more thansl02. 600, 900 from 1888
to November LIST, 1885, crippled and fet-
tered the internal commerce and the
productive industry of the country, have
we any cause to apprehend the danger
predicted to our financial system by
continuing our silver circulation, per
capita, at only $685. cents, while the
little republic of Switzerland has $3.50
to each individual; Belgium, $1,000;
the Netherlands, 1880; while France,
the most prosperous of all nations in her
financial policy, has $1,000 in silver to
each individual, with her bank reserve
of 81 per cent. of its coin in silver. "al
value greater than that given TO orr
4l2k grain dollar" England with her