Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1892-11-11

From this we see that the United
States holds about 20 per cent. of the
worlds supply; England and her co.,
onies. including India, about 20 per
cent; France. about % per cent and
the rest OF the wc'ld about ~ per
cent The direct loss from a decline
i" the value OF silver will fal! upon the
nations in about these proportions.
What may this decline amour, 10
should no international agreement be
arrived at?
The vast accumulation Of silver in
tho world, large part Of which would
then be thrown upon the market,
would undoubtedly depress the price
to point far b. low the cost Of pro
duction, for in the arts. silver is not a
very much more desirable metal than
nickel. which for years land until the
adoption OF the fad for using nickel in
armor plate) vainIy sought to extend
its uses at 81 to 60 cents u pound.
With Auotuating values for silver
and no large demand for subsidiary
coinsge the boards and stocks of the
metal, both in coin and manufactures.
would find their way on to the market,
aud the price would 20 down far be-
low the cost of production and remain
there at indefinite t me.
If the stock were finally absorbed
IN the arts and the price again began
to rise to the producing point, the
metal would come out from many of
ITS uses and again deprsss the market.
Moreover, q certain amount Of new
silver would still he produced in cons
nection with gold, copper, lead, &C.,
an amount which would have to be
marketed at whatever price it would
bring. Under these conditions, il is
impossible 10 foresee to what price
silver would descend, but it is safe to
say il would go very far below so
cents an OUNCE, which may be assumed
to be present limiting figure for the
operation OF even the greatest silver
mines OF the world. fit should go
only t, 40 cents an ounce, two.,hirds
OF the value Of the worlds stock of
silver coin would be DESTROYED, or ssy
$4,000 100000 would be taken from
the holders of silver who are chiefly
the industrial classes in ev+ry country.
This direct loss, enormous as it 40.
pears aud actually is. would still
EQUAL but small part Of the indirect
losses, which this depreciation would
bring in its tram. Everyone is fam,>
liar with the sacrifices which poverty |
necessitates. s2,oOO.OOO,OOO were
suddenly taken from the hanks Of the
world. that is. chiefly from the re. |
serves OF the in iustrial classes, il
would create panic in which e,ery,
hing but gold would suffer. Since |
he failure OF ono debtor to meet his
obligations frequently brings with it
he failure OF long list Of houses,
each solvent II this one debt we're
paid. so the practical bankruptcy
which this inevitable decline in the
'alae Of silver would bring upon the
liver standard countries would de-
noral'ze trade throughout the world
anc the disasters which commenced
sith tho cen,imes, tho annas, the
cash" OF the pi'iful wages of the
'oor in the silver basis countries,
'ouid gather force and grow in in
ens'ty and destIuctiveness as they
cached the great merchants and f.
ally the banks and bondholders in
old standard England. The ominous
Fsson OF the Baring's failure should
ot be forgotten. -.
The showers that wash awsy Indian
vos's h't'e plo, Of rice and the com.