Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1886-12-22
LOSS OF GOLD.

Under the above caption the Chicago
Mining Review contains q very sensible
article in the course of which it observes
that n Of the chief objections Of the
opponents OF silver coinage, and one Of
the chief arguments used against its use
as currency, has been the threatened loss
OF gold. It has been claimed and reiterated
repeatedly, that should even the minimum
legal amount of silver continue to be
coined by this government, the result
would be q depletion Of the gold supply Of
the treasury department and an influx Of
silver from all parts OF the world. The
reason why this result would follow never
has been given; the statement in many
alarming forms has been given again and
again. Indeed one of the chief points OF
weakness in the opposition. to one of the
oldest and most reliable factors of Dur
nations currency, has been an absence OF
argument, and OF facts demonstrating the
reasonableness and plausibility OF the posi-
ton assumed. The party, chiefly inter-
ested in the increase of gold in value. has
been satisfied to take a position OF
an alarmist without attempting to
give a reason for the foundation OF
that position. Facts and figures have al
ways been decidedly dangerous to it's cause;
hence it satisfies itself with predictions
and prophesies of disaster should it's pol
icy not be adopted. The fact that a refer
ence to statistics has failed to support
claims made, and that the calamities so
oo-no.%Iv n,o1;c<ol In wa fo;IoJ ~ oopno,
evidently has no effect upon the strength OF
the reiterated claims so persistently made.
Facts are apparently ignored, and stats
tics are found to be like a two.edged sword,
more dangerous than useful.
On the fourth day OF November, 1886,
official reports show that the bank OF En-
gland held 500, O45, 900 in gold; tn. bank
OF Germany had in it's possession $50, 375,-
900 in gold; while the bank of France held
1925, SOC, 900 in gold. These figures
show that France, q bi-metallic nation,
coming and maintaining gold and silver
here it is contended will result in the grad
ual and total expulsion OF gold, contains a
larger amount of gold than two of the
strongest financial nations of the
world. England and Germany com
bined. The United States also,
after q coinage Of silver for a number
of years, instead Of showing decrease in
the amount of gold in it's treasury, shows
a large increase, and has an amount much
in excess OF that shown by England and
GERMANY. which are the leading mono.
metallic nations of the earth, in name at
least.
Germany, while claiming to hold a mono
metallic policy, reports SIG, 100000 in
silver in it's treasury, almost equaling it's
amount in gold; while England, nominally
maintaining a gold standard, exported
during the nine months ending September
80, $26,4OO,443 in silver to India alone;
which would be at the rate o: $35, 200, 591
per annum, and during the same period.
imported nearly $50, 900, 600 in silver for
use principally as currency. A reference to
these and other ready available facts, not
only show the falsity and absurdity of the
positions taken by those claiming to be the
ablest fnanciers OF the country, but also
show that those nations claiming to have
adopted the mono-metallic policy have
done so only in name, as it has never been
possible since the earliest history OF com.
mercial transactions to conduct the
business OF the world without the employ
ment of a quantity of silver as currency
largely exceeding that of gold.