The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1893-08-08
GOLD AND SiL YER.


silver dollar, was worth 9e 8 cents
in gold. In ISIS, when the silver
product of the world vas 70, 476, 600
ounces, the silver dollar was worth
50. cents. In 1899, when the
silver product Of tue world was
l25, 100000 ounces, the silver dol
lar was worth - 4 cents. In 1892,
when the silver product of the
world was 1852, 0Gl, 800 ounces, the
silver dollar was worth e. 4 cents.
In 1898 the value of the silver dol
lar has dropped az low as 534
cents. 1t will probably go lower
still. Yet there is wide demand
for the free and unlimited and in
dependent coinage of silver. 1t
comes from many different quar-
ters-- from the silver producers who
cell their bullion to the government
at fancy prices for gold; from the
debtor classes who would like to
settle old scores with lightweight
dollars; from the demagogues,
whose mission it is to impose upon
the credulity of the people, and
from honest but mistaken men who
believe that unlimited silver money
would bring higher prices and
better times. We are all sorry for
the silver producers, of course, but
there is no reason why they should
be made the special beneticiaries of
the government. If it is right for
the government to buy Colorado
silver at the market price, it would
be right for the government to buy
Carolina cotton at the market price.
Charleston News and Courier.
The above was handed in by
friend prominent in local financial
circles who believes the tune has
come when silver should be demon.
etized completely and the gold
standard set up by this nation, and
that the above clipping epitomized
his reasons for the faith which is
in him. The Argument restated,
simply means by reason of the over
production of silver it has depreci.
ated until it cannot be sustained in
circulation at par with gold. If the
statement be true there should be
relatively more silver than gold by
very great per cent than ever be-
fore in the worlds history. BY
reference to statement made by
an authority on that subject there
was in 1890 in the world in round
numbers S,ooo,o 100000 dollars
worth of gold and silver, 81 900,
900, 600 of each, at a ratio of six-
teen ounces of silver to one of gold.
One hundred years ago the two
metals abounded in almost the same
proportion, and each decade shows
they have during the last hundred
years existed in the same proportion.
That the production of silver has
greatly increased in the past forty
years in this nation is true, that the
production of gold by the world
has also greatly increased in the
same period must also be true, or
the proportion of the metals would
be changed. Speaking of the in.
crease in the production Of silver in
a speech delivered in the senate
last February, the Hon. d. B. Hill
said: They talk of the cheapness
of silver production by new plans
and new processes, as if nobody had
ever found q gold nugget in five
that made him individually
rich and as if the working expenses
Of exploration always return more
than their cost. The annual incre.
ment from all mines to the total
silver stock from all past ages is
ess than per cent, the output
continuing as great, the per-
centage falls as the mass
grows. They talk as if the
prices varied with the annual o1t-
49,. - o;Iuo. ;.J r. l: -