Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1886-07-04
eros. ra,,.o,s. Of the eo,di.'s'

ar. IN. Rowe ia the Santa Ana agent OF
the HERALD.
aross Fattaoics OF the Goidttes.
The need es More currency.
Our esteemed New York con-
mporary, the Financial and Mining
Record, never fails to prick the bub-
bles which are 30 industriously blown
by the organs, in the metropolis and
else where. Of the bond holders ana
others possessing fixed incomes, and
which clamor for the characterization
Of silver. The reckless Ignorance oil
their subject with which writer's on
the daily press address their readers
concerning the production and supply
Of the many metals is well illustrated
by the person who habitlally does
that sort Of work on the New York
Tribune in the following paragraph !;
Hut IL is clear that the cost Of producing
the ptecious metals has been on the whole
greatly reduced within Tho past halt cen
fury, and apparently the cost Of procuring
silver has been more reduced man sne G nv
q sound reason for relative depreciation
Of silver In price, aud one which should
not be overlooked, One great ponahza o.
silver may add s5c0,0OUOo0 TO the WORD :
stock before II IL 80 lar exhausted that the
cost OF production there approaches the Or
binary level
Undoubtedly, the cost Of producing
the precious metals has been materi-
ally reduced within the past hall
century, as the Tribune declares, but,
on the other hand, il is the cost Of
producing gold which has been re-
duced TO a greater extent, proper
tionatcly, than that Of producing sill
yer. as the Tribune writer might have
satisfied himself had he cared for 20
small thing, to him, evidently, as
accuracy Of statement, when treating
the question OF the money-metals.
Such, indeed, is the cheapness with
which free milling gold ore is now re-
ducsd to bullion that the ore OF the
Homestake mine, of Dakota, is mllled
at an expense Of not exceeding one
dollar per ton, and the company who
operate the property have been able
TO pay continuous monthly dividends
apprerating 80, 1000 from ore that
on an average does not yield more
than A per ton-while the Father
DeSmet of the same district has
found handsome profit in working
free milling ore that yields not more
than $3.50 per ton. So, too, there
are mines in California, such as the
Sierra Buttes and Plumas Eureka,
which have been giving satisfactory
dividends for twenty years from gold
ore that averages but $500 per ton,
Of which 81 per ton is profit. As Tor
the Tribunals suggestion that the
production OF 5000, 100000 by a
single great bonanza OF silver is a
rather common occurrence, IL il GER
tsinly characteristic in its lack OF his
torical verify. Even the Comstoek
lode has not yielded in the aggregate
more than $3.50 900, 900, of which
amount, however, fully $l4b, 600, 600
was gold that was carried by the sill
ver-bearing ores OF that famous Lode
While, undoubtedly, the average cost
of producing silver has been 80 re-
duced that grade OF silver ores may
be profitably mined and reduced to
bullion that could not be worked
without loss hall century ago, yet,
upon the whole, the reduction effected,
in the matter OF cost, has not been SO
great, proportionately, within our
epoch, as that which was wrought
soon after the opening OF the mines
of Peru, Bolivia and Mexico by the
discovery OF the process OF amalgama-
ton with mercury by the Spaniard
Medina. In consequence OF That dis
covery during the last quarter OF the
sixteenth and throughout the seven
teenth century, 1875 years, the silver
product of the word aggregated about
$2,l4s,000 900 coupled with about
1927 500, 900 OF gold which, we sub
init, was larger supply OF silver IN
proportion to the population oil the
commercial world OF that epoch than
has been won from the silver mines
of the earth during the l25 years
ended with 1885 - that is, about
1926 ,O00, 900 or but los per cent.
more than was produced for the like
number OF years Immediately anter-
Tor to the year 1900, whereas, the
Interstate commerce, industry and
population of the world have increased
AS also the demand for money APP
pliances-and especially since 1850,
almost intellectually, as few figures
will suffice to show.
Only as far back as the opening OF
this century, the population OF the
United States numbered but $500,
600, while at present the population
is verging upon 6O,O0O,0O souls, with
a wealth estimated five years ago at
$49, 800, 100000, or an increase in
eighty years OF more than 400 per
cent in wealth, and nearly $50 per
cent. in population.
In 1920, the national debt OF our
country reached but 800, 200, 900, in
1880 had been increased to 81 ,975, 600
or 1924 fold. The national debts OF
the world in 1920 aggregated $780,
000, 900, while in 1880 they footed up
$27 ,220, 100000, an increase OF $40
per cent. in sixty years.
The wealth OF the people of tie
United Kingdom in 1900, was esti-
mated at S9,OOOOO0, while it
amounted to $44, 200, 600, 900 in 1877,
an increase OF about 1875 per cent
The export trade OF the same king
dom, between 1915 rnd 1920 averaged
annually $3.50 100000, while betwe cen
1871 to 1873 the yearly average was
81 1896, 900, 900. or an increase in fifty
eight years Of $50 per cent. In the
same period, the import trade was
increased from $50 900 OO0, 900 to ST..
s35, zoo, 900, or about ll47 per cent
The consumption of wheat in Great
Britain in 1924 was 25s pounds. pei
head Of the population, increased t,
81 in 1850. The population OF Grea
Britain and her colonies in ls0(
amounted to 100000 souls, in
creased TO 100000 in 1880, or al
increase of about 25O3s per cent.
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