The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-08-29

Paner SO, O00, 0C0
Total 800, 900, 600
FRANCE.
Gold. oJO, y
Silver 700, 900, 900
Panar 81, ZOO, 900
Total 81, SCI, 900, 600
GERMANY
Gold. ........ S2lI,O y
Silver. 211, 600, 900
Paper. lOI,UOO
Total. 1923, 900, 900
AS these are the latest official data,
we ask our readers to inspect them
carefully. Tt would take but a little
time to commit them TO memory, and
they would be constantly coming into
use.
The reports Of the Director of the
MINIS show that the productions Of
gold in the United States for the past
90 years has been as follows:
10 years ending Dec. 81, .S3S3,CO2,CO0
10 years ending Dec. 81, l892.......... 325,595,WO
A falling off of..................S 5~7,4O5,COc
Average product list 10 years......... 8]8y3O0JlCO
Product st 6 months of 1898 :. ...... l6,l7n,875
This shows a continual falling eff in
u production up to date, and a fall
ing off Of 1926, 625 for the first six
months of this year, from the average
six months of the past ten years.
We turn to the same report and find
the stock is diminished also by exports.
The figures are since Jan. 1, 1837-6B
years-as follows:
Gold exports. 1891 $3.50
mpOrtS.,....'.... ...'..'...'''''. l LIf1I0o
Exports over Imports. 49,. S2aO,331,6s7
Product for same time............... : 4,l65,6,5
Experts ovei product and import 5 1913 ,8i2
Which shows a loss, in round mum
bers, of a million a month from
exports. The reports show also
that our mines are failing and closing
up, and that a large per cent. of the
present product is coming from old
sands being resifted, and from the find
ings in silver mines, which is nearly
one-third Of the total product. Should
our silver mines become improbable
and be forced to close, this would di-
minish the gold output that much and
enhance it's value and power in like
proportion.
Looking these facts in the face, and
knowing that but one class, and that a
very small class, comparatively, of our
people use gold at all as a circulating
medium, how can we afford to tie our
country down to a gold basis? Then
it ought to be plain to any observing
mind that the smaller the basis the
easier it would be for a few exceeding
~ wealthy men to corner it. The gold
of America is now virtually c%ornered,
hence the fight on silver and and the
panic which is playing its destructive
work. There is absolutely no gold in
circulation among the people. The cry
for a gold basis comes not from THE
PEOPLE either North, South, East or
West. They do not want it. But 1t
comes from the rich bankers and
money-loaners and stock brokers of
Wall street, with London interests to
back them, and to the least observing
among us it should appear evident
that these London and Wall street
stock brokers and money-loaners would
reap fortunes from the law they de-
mand and that, too, to the further i'm
poverishment of our already over
burdened people.
The single standard gold advocates
say they fear should we re establish
the free and unlimited coinage of both
silver and gold at a ratio of 16 to 1, the
country would become a dumping
ground for the worlds overstock of
silver. They need not fear this. The
entire worlds product of silver for the
last 20 years has averaged
For last yers the coin: has averaged. iii Ia, ,857, s88
Showing coinage over pro. pr year. 8 "a SOL 995
While the world is at this rate con
verting it's accumulated silver bullion
into circulating money, is there need
for apprehension that their dumpcarts
will unload it upon us? 1.-THE enor-
NOUS amount of silver produced, " is
the great goldbug bear of the age. 1T
Is appalling that with such enormous
productions any a person other
than a silver miner should contend For
the ratio of 16 to l." oh saw +bou
II 1t must be cJined at all it must he
al parity. 1t must be at about "a 70
l." Well, now, this is a serious no;nt