The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1890-10-24
SILVER PROSPECTS.
From the Journal Of Finance.

From the Journal Of Finance.
II NAV be several months before the
valu of silver will reach a settled basis.
The remarkable rise, due to the pur
chases Of the government, which was
succeeded by a fall quite as remarkable,
indicates the presence in the market of
influences ready TO create an abnormal
demand for the white metal whenever
the assistance Of the government can be
enlisted in their behalf. 1t is yet to be
seen whether the same experiment will
be repeated in the few months following.
If 1t Is. it is not unlikely that the price
viii lluctuate As before, and repeat the
recent experience. One experience,
however. may prove sufficient, and in
that event the fluctuations in the price
will not be great. Having measured the
demand. it Is possible that the market Is
better prepared TO meet it this month
than last. and this fact viii also prove a
conservative agent.
The price of silver is doubtless estab-
lished in the London market The re-
striction of our tariffs, the downfall Of
our international shipping and the eX-
clusiveness which our Legislators have
shown in our dealings with silver-using
countries have prevented us from Sc
curing a market for our silver. The bus
mess that we do with South America,
whose republics largely Use this metal as
coin, is largely done through England
and English bankers, while that of Eu-
rope Is also done through the same agen-
cies. I'm addition TO this. silver is con-
stanuy flowing into the London market
from India, Asia and Africa-ali of
y,-itF. ~
amounts. While it Is impossible in the
present state of statistical information to
obtain reliable data as to the amounts
yearly exported TO the nations of
the east. enough is known 10 war
rant the assumption that there
can be no stable variation in the
price Of this commodity in the London
market for some time to come, and that
the increased production of the present
IS ample 10 meet the requirements Of
India. China and other silver-uSing
countries.
So long as London remains the centre
of the strong influences which make the
price of silver, and until some means are
devised for more direct and vastly larger
exchanges between our own country and
south America, there is little hope that
]
the legislation of congress VIII avail 70
increase is demand or value. \ mart.
which receives practically the whole of
the production OF the world, outside the
silver produced IN the United States. and
distributes ii To the utmost parts. must
fix the price and give 10 it a stability
that cannot be shaken for more than a
few days at time 10y speculative efforts
at this point.
Senator Teller Of Colorado Is correct in
atCribuJing the fluctuations in the mar
ket 10 the spectators, but he has fallen
into the triflIng error Of placing the
Spectators on the wrong side Of the
fence.
There Is. however. a prospect for sill
yer. Ii Is still in Its infancy. II viii be
a child Of slow growth. Our own west
ern section Is rapidly developing and will
need il more and more. Our inter
national relations with South America
are becoming closer and tins VIII greatly
enlarge the demand. England, France
and Germany are pushing great enter
prlSes IN the wide unCiviized east, open
Ing up new and immense markets. sub
DUNG aarbdrIsm with commences and
here too. viii be a market that IN years
10 come VIII tax the production OF silver
10 the utmost capacity. With our east
I eru coast IN close contiCuliy with the
{ centres Of commerce, and our western
( shores within convenient communication
with the markets II Asia. the mountains
OF the west viii VET be called upon 10
yield M harvest II com far beyond
+ their present power.