Mohave County miner., 1894-09-22
The Gold and Siirer Question.


After all the conferences, discussions
and writings about this question, it'll,
progress to any like satisfactory settle
pent has been made. 1t may be 70
membered that last year, at the July
meeting Of the London Chamber OF Com
merce, brought forward the follosing
Resoiued, That in the opinion OF this
meeting 1t is desirable basis Of value AZ
to the relative positions gold and silve,
should bear to each other should be es
tablished, and that silver should bear q
ratio with gold as . legal tender, and
pay ments Of Indebtedness to the exten,
Of ten per cent with gold; thus for every
Gl00 OF Indebtedness. banks and other
monetary institutions or indi vidusls may
have the option Of 600 in gold and ElO
in silver.
/ said then. and consider now, ths,
this important question should be Seri.
ously considered by gentlemen holding
prominent positions in financial and
commercial circles. The action of the
Indian government in stopping the coin
age Of silver had already had q ruinous
effect In deprecisting the value Of silver
and manv classes of securities.
There 10 Q ridiculous but current belief
among the general public who consider
the question st all, that there is too
much silver produced, and some even
talk Of gluts Of gold that cannot oe utilized
hut where are the individuals, co,nmun-
itias or countries that have enough OF
either gold or silver in coin7 Have the
working classes OF this or any other coun
try got an ovessbundance OF money, Or
even the employers OF labor-or what
are termed AZ capitalists? Nations ard
communities are complaining OF the
scarcity Of gold and silver, and all vieing
with each other as to which can get the
most OF it. In fact, there is general scrAm.
BILE as to which n ltion can get hold OF the
most coin,-that IL, by concentration
from their neighbors. Then, again,
every small State-some OF whom pro-
duce no gold-have the presumption TO
wish for gold coinage and gold stand.
ard. II would be interesting to know
from whence they expect To 2e their sup.
ply. II they developed the natural re.
sources Of the ,rth they conld in many
PLACES prodn;e The g,Id they require. nut
that would mean bard work to extra:t it
from the matrix, a ID tn 1t is not agreeable:
they prefer borrowing it or extracting II
from other countries.
A ridiculous scare has been created by
,imid alarmisis who have preached the
doctrine that the world was being flooded
with too much gold and silver, but how
much does that harmonizs with the fact
that no one can be found who has enough
Of either ot these To, tails? The mere
fact that during the past ten or twelve
years greater amount OF silver has been
produced than ever before in the same
time, need not al rm political economists
that more is being produced than 10
wanted for The worlds requirements.
Gre 4 Britain and the Australian colonies
have ] teIy gone through = financial
crisis Of q severe kind, while most other
countries are in chronic state OF i'm.
pecuniosity. and all for the want of more
money.
The gold blanket is not big enough 10
cover the financial nakedness of all
nations, therefore it il essential that ell.
yer should hear It's faii share in fnance
with gold, and l am satisfied, after much
consideration, that q ten percent ratio
with gold would he benefit and con.
venience to all classes by raising The
value and uses Of silver without depreci.
ating the gold staniard Silver notes OF
20. and los. might also be issued against
the reserves Of silver by banks.
Although gold and silver have been
produced in such apparently large qusn-
titles since lS49, tie rapid increase of
population, the gigantic extension OF
finance, trade, com nerce and industries,
and The requirements OF the money. using
people, have increased faster than the
output Of gold and silver.
The following totals show the worlds
production Of gold and silver from 1S49
TO 1889. as gwen by different authorities: /:
Gold lin dolIars) A,421, 10000 fsS6 200, 600
silver ..... l.s77.0 100000 S75, 400, 900
--
TotsIs 900 o00 oet coo ooo