Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1894-08-09
Some Facts Relating to Silver and
Gold.

Some Facts Relating to Silver and
Gold.
| Among the general facts in connec-
ton 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 properly
speaking, silver and gold. have been
the recognized measures of value and
mediums of exchange between individ-
uals and nations for too many centu-
ries to require a moments waste of
| time in the discussion of the relative
value and virtue of the two metals for
coinage purposes.
There have been times in the world s
history when monopolists got practi-
cal corner on silver and attempted to
outlaw gold an vice versa. just now
a syndicate of European shylocks, with
| few stockholders in this country are
trying to outlaw silver.
This work was inaugurated, when
after the close of our civil war, the
visible energies that gave it birth to
| were turned in another direction and
along with the development of agri-
culture and manufactures, 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
a quarter of a century, unless serious
ly checked, the United States, by rea-
son OF its apparently limitless produc-
tion of the precious metals, would be-
come the worlds financial center.
Then the Shylocks OF the Old World
set about destroying the vitality of the
New. and sneaking into the American
congress, procured an edict of outlaw
ry, the object of which was to destroy
the commercial function of one-half
the natural tangible wealth of the ma
ton.
The deed was accomplished. A dis
astrous panic followed. with regular
spasmodic occurrences, often as disas-
trous as the original attack.
We ought to have in circulation in
this country $500, 100000 indestruc-
tible, world-recognizcd money, the
product of our own soil, and to be die
tating the worlds financial policy, in
stead of being dictated to, but for the
inexcusible act of 1873.
lation we have but $3.50, 100000 in cir
culation, of which S40S, 100000 is gold
and 1920, 900, 900 in silver, with $780,
O0C, 900 Gncluding bullion) in the
Treasury vaults, of which $190, 900. 900
is in gold and 500, 100000 in silver.
or 81 800, 600. 900 all told.
The total products of our mines
since the formation of the government
has been: Gold 81, ,937 900, 900: silver,
81, ,14s. 100000. The coinage of gold
for the same period was 81 800, ,000.-
900 and of silver $69O,OO0,O00 all
told.
Our product of precious metals is of
recent date. From the establishment |
of the government down to 1850 our
total gold product was 1925, 900, 900
with less than s1.OOO,OOO in silver.
Our gold coinage for that period was
500, 600, 900; silver, s25, 10000 We |
had to coin imported silver.
Our great national progress began
with 1850, coincident with the deyel- |
opment of gold and silver. Between
1850 and 1873 we produced S1,165.-
600, 900 in gold, of which $3.50, 900, 900 |
was coined, S20o.OOO.OO0 of silver,
one-half of which was coined.
From 1873 to 1898 our gold product
was 1915, 900, 900, and our silver pro-
duct $9,OOO,OOO. But silver in the
meantime had been dlscredited, out
Iawed and the power of our national
wealth in dominating the worlds mon
etary and financial affairs was dimin-
ished thousand million Of dollars.