The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1894-10-23

entirely to the doings of legislators;
that when the fall began the production
of silver was, in fact, not sufficient to
meet the demand and that the Ameri-
can silver laws led to a SHINING of
the silver mines, which was che main
cause of the increase in production.
Let normal conditions return and we
may expect a stable production of sill
yer, corresponding to the vast demand,
though hardly sufficient to satisfy it.
The production of gold has greatly
increased in the last few years, yet not
in a way to equal the demand so long
as gold alone is full money. Should
the gold States at last be driven to go
on and lay aside their many bill
lions of silver money, continually los
ing more and more of it's gold value, it
would be absolutely impossible to fill
the gap so caused in their circulation.
But the production of gold cannot
maintain itself at its present height.
The more strongly and intensively the
extraction Of gold is pushed, so much
more rapidly and completely will the
mines be exhausted. The allegations
of Professor Ed. Suess in reference to
the prospective exhaustion Of gold
mines have not been proved incorrect,
but have been confirmed; and Suess,
when before the Commission, only
strengthened us in his views when he
declared that the present copious pro
duction of gold is bringing the world
essentially nearer to the moment as
sumed by him when the production of
gold will be entirely at an end.
In the T~ransvaaI, according to mi
croscopic Investigations, it is only a
question of fossil ''soaps" (alluvial or
diluvial gold) The wealth of gold
there, therefore, does not refute but
confirms Suess' doctrine that important
treasures in gold sre to be found only
in newly opened countries where they
quickly give out.
People still refer to the possibility of
further surprises in respect to gold
production. This possibility is all the
time growing less and less with mems
restlessly advancing examination of
the earth's surface.
The gold p~roductionof to day, made
quate as it is, is rapidly using up the
worlds last great gold reserves. To
build the worlds coinage system upon
a production which can at best last
only some decades is as impossible as
a coinage system based upon the chance
of surprises"
A provident craftsmanship cannot
discredit silver and let it lose it's value,
when allhuman foresight is to the effect
that the metal will be absolutely indis-
pensable in the future.
The present moment, witnessing an
increase in gold production which may
be the last, is precisely the time to
carry through an international system
of bimetallism, as this can now be done
without any fear that gold will leave
the circulation or attain an agio. Those
who prophesy a gold agio in case of
bimetallism overlook the fact that they
thereby ascribe to gold a scarcity and
dearness too great to allow of gold pos,
sibly continuing the sole standard.
If, now, the united German govern
ments recognize the necessity of pro.
cedure to stop the depreciation of silver,
it COMFORTS with the high position of
Germany as a nation that it should as
sumo the initiative toward interna,
tional negotiations, exerting its infu-
ence in the council of the nations in
favor of silver, whose depreciation had
it's beginning in the German coinage
law of 1871. Such is the condition of
affairs that Germany will be permitted
to reckon upon the co operation of all
powerful States, including England.
DR.. ARENDT,
Won KARDORFF WABNITZ,
LEUSCHNER,
Won SCHALsCHA,
WULFING.