The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1894-07-20
Cincinnati Enquirer.
SOME FACTS


Among the general facts in con-
nection with the production and
coinage of the precious metals in
the United States are some worthy
of close study at this time.
Gold and silver, or, more proper
lily speaking, silver and gold, have
been the recognized measures Of
value and mediums Of exchange be-
tween individuals and nations for
too many centuries to require the
waste of a moments time in the dis
cussion of the relative value and
virtue of the two metals for coinage
purposes.
I There have been times in the
worlds history when monopolists
got a practical corner on silver and
attempted to outlaw gold, and vice
versa. Just how a syndicate Of Eu-
ropean Shylocks, with a few stock
holders in this country, are engaged
|. in trying to outlaw silver.
This work was inaugurated, when,
after the close of our civil war, the
visible energies that it gave birth to
! were turned in a different direction,
I and along with the development OF
agriculture and manufac C lures
opened up the mines Of the west
: and began to produce the precious
metals in such vast quantities that
the European money kings realized
: that in less than quarter of a cen
(, tury, unless seriously checked, the
! United States, by reason Of its ap
parently limitless production Of th'
!. precious metals, would become thu
worlds financial center.
Z Then the Shylocks of the Ole
:, World set about destroying the vi
u tallty OF the new, and sneaking int
the American Congress, procured
? an edict Of outlawry, the object o
! which was to destroy the com
9 mercial function Of one-half th'
: natural, tangible wealth Of the ma
} ton.
Q The deed was accomplished. 4
! disastrous panic followed, with reg
x ular spasmodic occurrences, often q
; disastrous as the original attack.
, We ought to have in circulation
{ in this country - SOC, 600, 900 indie
! = structible, world-recognized money
/ the product Of our own soil, and b
y debating the worlds financial pol
IA icy, instead of being dictated to
but for the inexcusable act of 1873
q But instead of such a metallic cir
: culation we have but $3.50, ,OOO,O ,OO
in circulation, of which $40S 900, ,OU
I is gold and $120, 600, 900 is silver
: with $500, ,O0O,OO (including bull
v ion) in the Treasury vaults, Q
q which $19O,OOO,OO0 is in gold ant
. $50, 600, 900 in silver, or 81 ,29O,
! 600, 600 ali told.
y Tn. total prodlct Of our mine
> since the formation Of the Govern
ment has been: Gold, 81 ,937 600,
1 600; silver, 81 Jas, 100000. Tn
, coinage Of gold for the same perio
, was $500, 100000, and of silve
u $500, ,O0O,OO
L Our product Of precious metals
J. Of recent date. From the establish
le ment Of the Government down
y 1850 our total gold product wa
4 1925 600, 900, with less than 81
II 600, 900 in silver. Our gold coir
= age for the period was 81 100000
10 silver, $25, 100000. We had
= coin imported silver.
= Our great national progress bega
II with 1850, coincident with the d,
! velopment of gold and silver. b
''t tween 1880 and 1873 we produce
r. 81, ,165, 900, 600 in gold, of whic
=; $3.50, 600, 900 was coined, and 800
~ 600, 600, Of silver, one-half of whic
~ was coined.
OF From 1873 to 1898 our gold pr'
50 duet was 1915, 600, 600, and our 81
y yer product 0O,0O0,OOO. But 81
III yer in the meantime had been di
r credited, outlawed, and the pow'
of Of our national wealth in dominatir
the worlds monetary and financi
oi affairs was diminished thousar
y million of dollars.
Since 1878 our gold product hi
III fallen off $775, ,00O,OO as cor
',e pared with $1,000, 100000 for u
= preceding 20 years. Each ye
r. the product Of gold falls off, and
u export abroad increases, notwit
standing the gold bug theory tn
y, the single gold standard was nect
iu sary to keep it at home.
~ Our silver production has risen
~ $500 ,0OO,O00 between 1873 al
iS' 1898 as compared with 500, ,OOO,O
M for the previous 20 years.
oi Of the 1887, 900, 600 gold pl
en- duced from American mines, I
y. Treasury reports only account
$59S 900, 900 Of it in coin and bu
ion. of which $40S 600, 900 is in c