Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-11-26
The Recent Rise In the Price OF silver.

The rise in silver bullion at London con-
tinues. Ii has touched this week - l.lGd.
per ounce. when we rcm mber how snort
0 time has passed since the quotation was
at i2d. the change becomes the more >tfik-
ing. We notice that circulars reporting
tie silver market at London still cling to
the idea that the change in price j. due to
q change In supply and demsnd. Just 60
when It was constantly going down last
winter with no recovery the same au-
thorities persisted in aitributne the de-
cline to triiiing circumstances IN the
current movements OF the metal. or,
for instance, to the probability that -iiycr
coinage ia the United states was to h'
Immediately suspended. when there WI
far more chance OF Tree coinage, 80 far o.
the power OF Congress went, than Of The
stOppagc Of coinage. We would not refer
to this except that these erroneous state.
mcnts affect views on the great qli silons
octiBg silver which are agitating the
world to-day. When the public l. forced
10 acknowledge that Il is mere sentiment
which IS putting tie pice up, and thal u
was mcr, sentiment which put it down,
and that that sentiment l. the direct result
OF the currcDt prO.pccfS with reference 10
the future Standing o. the metal - cur
rency. q decided advance toward The >plu-
tion Of the problem VIII have been made.
Last winter the outlook for silver cur
rency bod grown 20 De almost hopeless.
Every patton seemed t. desire ~ De rid
Of II, and even IN india The cu,is. whicl
j. inevitable some time, appeared immL-
nent The belief that had hitherto kept
up courage and pucc all over the Oh
World was that the United states wpuil
tumble into silver mouomet,lllsm and fur-
nish market for the surplus holdings Il
Other nations; for European ininrlers
saw the plight our Government was Ia
and thought there WAS no chance fur
Us. But il became everywhere eyi.
dent in July, fSs5. that the Admlni,'ra-
ton had put the Treasury 10 po,i-
tion OF security, and 20 the lat prop 90 Eu-
ropean confidence In silver gave way. and
With ii the latest tumble in The London
price began. \ httlc CLEAN Of hope was
the promise that our C0ngres, would do
something on the subject which by hurting
America would help Earope; 80 the de-
cline was little Irregular for time, but
"a the session heightened and that hope
faded the value settled more rapidly, until
with tie adjournment oi Congress
Gust about year from the date
this fresa decline bcg9n) tie final break
to 42d. occurred, bringing the average
price for the whole ~ August down 10
~ l1.32d. Next was the Royal Commits
sion appointment (September Gth). aud the
belief which II gave rise TO, strengthening
almost constantly since, that the Commis-
sion really would accomplish something.
the London Times expressing the belief
recently that majority oi the committee
would report in favor Oi bimetalli.m; 50
tie price. which touched 42d. and averaged
only AZ Il32d. I'm August, rose to 4jd. and
averaged 43 13 .lGd. in september, then rose
TO 45sd., and averaged ijd. 10 October, and
is now quoted at i7d. How high il is go-
ing before the reaction sets in. will depend
upon the degree Of confidence felt in the
ultimate outcome Of the Commissions
work.