Mohave County miner., 1891-11-21
Prospects for Siivsr.

When the present silver bill was passed
at Washington, says the London fnan-
cial News, il was the unanimous opinion
Of the American experts that the month
ly government purchases OF 4,5O0, 900,
coupled with the industrial consumption,
would absorb the surplus Of silver in the
world. For some tame events seemed to
faisify this prediction; but lately II can
not DO denied that the American pur-
chases are makeing steady and per-
ceptible inroad on the visible stock oil
silver, which has fallen TO below 4,OOO,-
0JO o., against over s,oOo,0OO OF. a year
ago.
There is very little doubt that It is
India that is largely responsible for the
present sluggishness OF silver. Ever
since the las. silver bill was passed, India
has absorbed much less silver than was
expected. The exports Of silver to India
this year, to date, amount TO about E3..
OO), 1000, against about E6,500,0o0 during
the same period last year. making diff
terence OF E3,50O,0Oo. or about i7,50O,.
600 on. more than four times the present
visible stock ut New York. II only,
therefore, a quarter more than the guam
tity which was shipped this year should
be wanted later on, the whole American
surplus would be ut once absorbed. This
shows very favorable statistical position
OF silver. When the exports Of silver to
India will be resumed on the former
scale. il is Of course impossible to say !;
but the falling of was no donbt partly
caused by the extraordinary rase Of mon
ey in Bombay and Calcutta, and money
shows in those centers Signs of getting
absorbed
Another factor which prevented silver
from going to India was the unfavosanle
trade balance during the first five months
of this year. Since June, however. there
has been a complete change 10 this re.
spect; the exports, particularly of wheat,
are increasing. while the Imports show a
considerable falling of. As far as these
considerations allow conclusions to be
drawn. q resumption OF silver exports
to India ON the former scale seems
likely.
What may be the views OF the differ.
ent nations on the questions Of standards.
the idea, which first found practical ex
preston in the United States, that there
is not gold enough in the world to do un-
aided the work OF money, Is steadily
gaining adherents by the sheer force Of
events. Within the last six months
Portugal had to abandon the attempt 10
keep the dear g Id in her country. Spain
has not yet gone so far: but the ever.
increasing quantities Of silver which she
bnys clearly mark the way in which
events are moving in that country. Ar
gentine has within the last few days
passed Law establishing the free coinage
OF silver. which al some future day may
he'c hbp"'1As anu idI icdcHinB Tcsuits.
Russia has had entirely to give up the
attempt to contract her circulation so as
to bring it down to gold basis. and is at
present printing fresh millions of paper
roubles. Even Austria Hungary, which
twelve months ago made an earnest
effort to prepare for gold stan lard, and
began to accumulate the yellow metal, is
evidently tired Of the attempt, and the
Hungarian minister Of finance has just
parted with 100000 fl Of his accumu-
lated gold by lending it to a syndicate OF
banks nominaily for three months, at 21lss
per cent, practically. probably, forever.
6old nsA lxl<o~