Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1893-07-20
Nations Using Silver.

in the present agitation regarding
the decline OF silver in value as COM
pared with gold there is disposition
to rush to the conclusion that silver
is entirely dIscredited, and, morever,
to overlook the great interest which
this country has in upholding and
protecting the value of metal of
which the United States is by far the
most important producer. In order
to assist the public, therefore, in arriv-
ing at a correct and deliberate con-
clusion on the silver question it may
be well to call to mind certain facts
which ought to be familiar. The Press
has before pointed out that the sus-
pension of free coinage in India does
not imply that silver is to cease to be
the current and ordinary coinage OF
India. Not the slightest authority
has been adduced to show that silver
is to be demonetized in England g vast
Indian empire. Indeed such a propo-
sition would SAVIOR OF madness, and
would be impossible of accomplish
ment against the manifest will of a
people with whom the use of silver as
coin is a second nature, and the vast
majority OF whom have no interest
whatever in the fluctuations of the
gold price OF the rupee. The substitu-
ton OF gold for silver in India is a
practical impossibility for the reason
that gold would not answer the pur-
pose. India now has gold coin
called the mohur, worth about 50,
but nobody thinks OF making it a
measure of value. The measure OF
value must be a coin known to the
people and in current use among the
people, and such a coin is the rupee,
of the nominal value of forty-eight
cents. The rupee is too small in value
to be coined in gold, but is just about
large enough in amount to be a meas
ure of value in a country where wages
are as low as in India. 1t must, there
tore, continue to be a silver coin, and
India will continue to be silver coin
age and silver consuming country.
The important state of Persia, west
OF India, is a silver country. 1t is
true that gold is coined there, the gold
toman being worth about one dollar
and fifty-eight cents, but very few
gold pieces are in circulation, and the
coin for measuring values is the silver
kran, worth something over thirteen
cents. 1t appears, therefore, that
while Persia has gold, the Persian
people have no use for il in currency
The great empire of China is a silver
country, SO far as large payments ar,
concerned, which are made in silver
bullion, and by an imperial decree
issued in 1890 the silver dollar coined
at the Canton mint is made current
all through the empire. The lega
money OF Siam is the tical, silvel
coin. Turning to the empire OF Russia
we find that the larger value of me
tallic money coined is silver, 3 ,4S6,
20S silver rubles having been coineC
in 1871 against 2,735, lao ruoles il
gold. The silver ruble is the legal uni
of money in Russia. The empire o
Japan has one hundred millions O
yen 1.-THE yen being about 81 in silve
TO about sixty-two millions in gold
!, While Turkey coins the golden Ira tn
coins in general use are silver, ard i
may be said without exaggeratiol
that Asia and eastern Europe are sil
yer regions.
France, from 1795 until 1892, pu
in circulation nearly eight thousan,
; millions OF francs in gold and abou
five and half thousand millions c
silver. Italy, from 1887 to 1891
both inclusive, has coined abou
thirty-one millions of lire in silver t
about four millions of gold. In Me,
leo and South and Central Americ
e silver is in general use, and Mexico,
$ is said, is continuing free coinage, an
finds it difficult to supply the demand
e OF increasing trade. 1t is well, Their
t fore, to remember, in considering tn
= silver question, that by far the largs
portion OF the world uses silver q