The Clifton clarion., 1888-12-19
Silver in Circulation.

In these times when organized
 opposition to the recognized use
 of silver as currency is beginning to assert itself in the country
 where the silver mines in their in fancy already supply the larger proportion of the worlds demand,
 and when the nations purchasing silver to use as currency in their trade and commerce, although le-
 gally demonetized within thelr borders, are beginning to compre- bend not only the necessity but the advantage of a silver coinage, and are planning an international convention to seriously consider the question. few facts and fig ures may have some weight and influence, particularly when op- posed to the most absurd and un- reasonable assertions, unsupport- ed either by truth or statistics, There has ever been presented by the opposition, the idea of an i'm pending danger from a great ava lanche of silver flooding the coun- try and driving out all other, so called, better forms of currency. In the first place it may be stated that according to authorized and reliable reports, the product of silver in the United States in 1887 was estimated at about $50,0OO, 900; a coinage of $2,000,000 per month will aesorb nearly oue half of this amount; large percentage of the product is used ln manufactures while financial reports show that the exportation of silver during the same year amounted to more than S47,000.0O0. It is easy to de- termine at glance at these fig ures that there is no immediate danger from any over production or surplus of silver.
 Much stress is laid upon the claim that silver when coined can- not be forced into circulation, all though the evidence of any force ever having been exerted in this direction is entirely wanting. The treasury reports of the govern ment November 1st, show that there were S343, ,156,2 PA in silver in the form of coin and certifi- cates in the hands of the people in actual circulation, and that but little more than $20,000,000 stand ard dollars, not on deposit as se- curity for outstanding certificates, were idle in the treasury, while the amount of idle gold over and above the outstanding certificates is $S2,695, 1862, or more than four times the amount of silver dollars not in circulation. The same re- port shows, however, that during the month of October there was marked increase in the demand for silver, in the form of silver coinage and silver certificates. The increase in silver circulation as given November 1st, showed an increase during the month of S13,- 600,000 while the increase in the circulation of gold during the same time was $S,400,000. From January 1st to November 1st, 1888, the figures of the treasury show that the increase in the cir culation of gold amounts to S25,- 100000 while the net increase in the volume of silver circulation is $49, 100000. These figures are not good evidence in behalf of the statement that the silver currency {, of the United States will not be used by the people as medium of exchange. The Government report states, that since January lst, 1879. about 60 per cent of the increase in circulation has been in gold in the form of coin and cer- tificates, and about 40 per cent in silver dollars and certificates. This did not take into account the fractional silver currency, which Du the first of November amount