The advocate and Topeka tribune., 1892-11-09
MONETARY COMMISSION.

menta Of the discussion to consider the
question OF remonetizing silver in the
United States upon the assumption that
silver will continue to be used as money
in most OF the regions Of the world where
it is now SO used, and especially in Asia.
This 10 the assumption, in fact, Of Euro
pean advocates OF the gold standard, and
they insist upon it as the adequate
answer to those who point out the dis
aster and ruin that will follow univer-
sal demonetization of silver.
Humbolt estimates that at the begin
ming Of this century the production OF
the precious metals in America, princi-
pally silver, was $48,OOO,OO0, s25,OOO.OOO
Of which went to Asia in the course of
trade, and never to return.
Asia has been known in all historical
times as the sink of silver.
In the twenty-six years from 1851 to
1879, both inclusive, the specie exports
to Egypt and the east were
Stlper, Gold.
From Great Britain .S 74i $4,000 Sl36 4S3 sS6
From French ports.... 2O4 67l,4OO Ni,o1SlOO
Total. .$l ,C36 657 ,460 SSl6,9s'OS5
This is an annual average Of $39,S67,-
594 Of silver and Sl2. 1856 Of gold. (See
Quetteville's circular.)
British India alone, in the forty years
ending with 1876, had an excess Of silver
imports over exports of Gl9S, AGA, 900, or
nearly $1,0O0,OOO,OOO, and during the
same period an excess of gold imports Of
S5O0,OO0O00.
In the same forty years the silver coin
age Of India was G2l0,660,975.
OF this amour There were Ell, 100000
old coins reminted, which being deducted
from the total Of the coinage would leave
e1S9,O6O,975, or nearly $9000OO,0OO as
the addition made in those years to the
previously existing money stock of India.
The testimony is clear that the India
demand for silver generally, and for sill
YER coins in particular, is as unsatistied
and exigent as ever. II India was over
supplied with silver, the prices Of COM
modities would be sbnormally high,
whereas the reverse is the fact. The ef-
fectiveness and urgency OF the demand
in any country for money are measured
by the general scale OF prices at which
its commodities are offered to the world
Tried by this test, the India demand for
silver, which ia the money OF India, was
never greater. The governor and coun-
Gil OF India, in minute, published last
summer, Of their reasons for keeping the
miuts open for silver, say:
First, no has risen in value since March, 1873
and espocia ly since last December. 5econu' II
is nOG snOWn that silver has fallen In value, o,
40 compared With comm Jditicg In general, eltneE
In L 'ndOn or In India curing the same period.
The London Economist October %,
1870, says Of this paper:
As n whole, both In Is conclusions and reason
Ings. the minute" Is most admirable.
The cou Gil Of India kept we'll on the
safe side in saying that silver had not
fallen in value in India since 1873, or, il
other words, that the prices of India
products had not risen. Most OF the
authorities concur that silver has risen
in India rather than fallen since that
time. A New York writer, j. S. Moore,
who has special facilities for information
on this subject, says New York Eusaing
Post, October "a, lS76) that Indian pro-
ducts are, at present, at their lowest ebb,
as compared during fifteen years." At