The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-10-29
has been obtained in Europe, or at least
elsewhere than the United States
NONE SENT TO TIE oprrNr

~-~~Ff ASAO 9A6u bHC OulNcu OLhEeSs
NONE SENT TO THE ORIENT.
$50, too, in regard TO the natural move
ment of silver to China, Japan aud the
Straits from San Francisco. Not one ounce
or silver bullion has been shipped to the
Orient from San Francisco since May of
this year, while over $4,000, 900 worth was
shlpped during the same period of last year.
Ihese facts, of themselves, are sufficient to
account for the decline which has taken
place. Then, again, all sorts of roorbacks
have been telegraphed from London to this
country to the effect that Austria-Hungary
was about TO adopt the gold standard, that
the Latin Union would not be renewed at
the end of this year, and that Belgium would
be forced to redeem in gold her silver coins
held by the bank of France, that a large
amount OF paper money would be issued in
lnola, thus doing away with tie nominal
demand for silver for that empire. and
sundry other rumors to the same purport,
the purpose and effect of which was to
weaken the price of silver
INDIA EXCHANGE.
This is readily understood from an ex-
ANIMATION or the price Of Indian exchange
as quoted in London. The price rose from
Is 5d on Jan. 10 Is S$ld on Aug. % of the
present year; that, is from 3415 cents to AZ
cents, an increase of 71s cents per rupee.
That is to say, every English merchant who
had bill to pay in India has to nay ~
cents per rupee more for bill of exchange
than he did on Jan. l, which increased cost
was occasioned by the rise in the price of
silver brought ABOUT by The legislation of
tnls country. So, too, with the South
American exchange on China, the improve
ment In which was about 20 per cent.
ACTIVITY AT THE MINES.
ut Is well known that we are in the
midst OF most active mining season. I'm
doubtedly the production of silver has been
stimulated by the passage Of the new silver
law. have Just returned from visit to
the large silver mines in the west, and know
from personal observation that mines
are producing large quantities of silver to-
day which were shut down when the price
OF silver and lead reached a very lew
figure. But it must be remembered that
we are approaching the period of winter
months, hen mining is not so active, and
moreover. that the present activity in work
Ing silver mines naturally results in more
rapidly exhausting the lodes. So far as my
information extends. there have been no
new silver bonanzas discovered, and aside
from the discoveries of valuableasilv ver-lead
properties in Australia, [ am n% aware of
any large discoveries of silver within the
last year or two, certainly none recently.
So that it is fair to assume that the
silver product for any considerable
period. unless there are new discoveries,
will not be materially increased by the
present active working of the mines. No
sensible person likes to make prophecies,
especially on a subject which has proved SO
Elusive as silver, but certainly one who has
made close study of the silver question
ought to fad in the facts mentioned sufti-
cient causes for the recent decline without
seeking for imaginary reasons and cast
ing slurs upon the treasury methods
of purchases. The new silver law has
been executed by the treasury department
in the utmost good faith and in the same
friendly spirit toward silver which charact-
erized the passage of the act and the mans
ner of its execution has not had the most re-
mote bearing on the recent decline in
price"