The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-05-03
Production of Gold and SILVER.

The Chicago Tribune is in some respects
one of the most remarkable newspapers
on the tace of the globe. One of them is
the extreme ease with which it can fly
around from one position to another. and
at the same time assert 1T is remaining
still while the rest OF the void is revolv-
ing about it. For some time it has been
Justly celebrated for advocating tariff re-
form between elections and earnestly
championing protectionism during cam
paigns. This is not altogether to be con-
demned. 1t shows talent. 1t shows YER
satility. No newspaper would like to
concede that it was not able to take either
side of controversy, and it is, therefore,
not strange that occasionally one should
give an example of this ability. But of
all erratic evidences OF talent that the
Tribune has given we know of nothing
moro impudent than the following:
The latest report of the director of the
U. s. mint gives the following as the total
production OF gold by all the mines in the
world for the last three calendar years;
1890 ........$ll3 i49. 600
1891 l3O,5lSS 500
1881.
These figures indicate a steady increase
in the production of gold. the gain for the
last year being 81 per cent. OF this in
crease for 1892 one-fourth part was from
the mines of Australasia and the rest from
| South Africa. The product of the latter
reached the total of So, 069, 57S for last
| year, which is about equal to the gold
production of Russia. and makes that
| oaoOnA aplxr 70 tho TDifaH faf
and Australia. The three totals stated
above do not include any allowance for
production in China, though that has been
estimated by competent authorities to be
| S., 100000 to S9.000000 annually. In the
| face OF these assertions, what becomes of
the claim 80 often mace by the advocates
of debased silver coinage that the pro-
! duction of gold in the world is steadily
decreasing2 1t is shown to DO an utter
falsehood.
Will the Tribune venture to specify?
Will it mention any prominent or intelli-
gent advocate of silver free coinage who
ever stated that the production OF
gold is decreasing? Will it name the time
and place of such statement? VIII il en-
deavor to give any ineligible reason why
any advocate OF free coinage should make
any such statement? What argument
could he base on it? In what way would
it benefit his case2 The truth is, as the
readers OF TIE SENTINEL well know, that
the constant answer TO the gold-bug claim,
that the world is being flooded with sill
YER. has always been that the gold supply
of the world was increasing more rapidly
in proportion than that of silver. In the
last thirty years the production of gold
was enormously in excess of the pro-
duction of silver. 1t is only in the last ten
years that the production of silver has
been the greater. and the increase in that
period has been so slight that it could not
possibly have any effect on the value OF
silver. II the Tribune knows anything
about the silver question, or anything
about the newspaper discussions of it, it
knows that the position which it so tri-
umphantly overthrows is a position of the
"honest money" people and not one OF the
free silver men. The relative supplies and
va.ues of gold and silver, in the world.
have stood as follows during the several
periods of the present century: