The morning call., 1894-08-23
HARD TIMES END.
Rise in Silver a Factor OF
Prosperity.
: EFFECTS OF WAR IN KOREA.
::
i. Increased Production of Gold a
:; Stimulus.
1T HAS A DOUBLY GOOD RESULT.
Tends to Restore Parity Between
the Two Metals and Stirs
Industrial Activity.
1T HAS A DoUBLY GOOD RESULT.

attention TO the depressing effect of Low
price for silver on the agricultural and in
dustrlal interests of the country.
Silver was quoted in New York yester
day at 65$4 cents an ounce, a gain of 81
cents during the past seven days. Londol
showed even larger gain, and the pros
:: pect now seems to be for steady advanc
of the white metal toward its old rati
:. with gold.
:: Even monometallsts have been forcet
ito admit that low price for silver mean
:; low values for the products of the farm
and factories. Strange as it may appear
the countries which have adopted tn
:: single standard have been the ones whict
have suffer ed most severely during Ihl
: period of depression and stagnation II
= business, which now seems to be approach
:. ing an end.
=. In Mexico and other States of Spanish
America, which are on a silver basis, anC
in the orient al countries, which know NJ
money but tn at coined from the white
. metal, no general depression has beer
felt The silver dollar is as good in those
lands as it ever was, and silver bullion
finds as ready market.
=. 1t is only in dealing with foreign lands
which do not recognize silver that Mexico
fluids any difficulty. In its domestic bust
ness the Mexican dollar is worth 10(
cents and has the purchasing power of its
: face value, but when it comes to exchange
with England for goods purchased in thai
country the Me1icans find that their dollar
goes only half way as far as it does al
home. This has had the effect of stlmu-
= latlng manufactures in Mexico and 10
-: make the country largely independent of
EuEOD6 in business WaV
Quoted IN silver money, gold has In the
last twenty years doubled in value. Re-
Gently this has had a marked result in
India and China. The people of those
= 100 per cent premium on gold to sell their
gold for export and quite an amount of
gold is now finding its way into the chan
els Of trade from those lands.
The high price of gold has stimulated its
:. production and the output this year prom
ises to be the largest recorded for long
period past. Russia will increase the
amount Of gold mined. New discoveries
in Australia are adding to the worlds sup
ply, while South Africa promises to have
an output Tivaljng that of Australia or
California in early DAYS.
-. The low price for silver gave a setback
to prospecting for CarbOnateS and sulphur
!ites, and the miners on the western third
q of this continent have for the past year or
more turned their attention almost eX-
clusively to gold, with a result which
promises to surprise the financial world.
. Charles G. Yale, the statistician at the
= United States mint, in speaking of the sit
uatiOn, said:
The increase in the gold product,of Cal
ifOrnia for the past year has been about
100000 on the face of the returns. 1t
has really been greater, for the returns for
the previous year were Oyerestimated.
The coming wear promises TO show a
tar n inn
when California mining capitalists neg
lected the gold properties for the Comstock; ;
then they sought investment in Idaho,
Utah and Nevada. but now they are once
more paying attention 10 the gold prop
critics of the State. There is a great re-
ViVal of the mining industry in Trinity
County and in the counties along the
Sierra Nevadas. Until recently a man
with gold mine or prospect might apply
In vain in this city to capitalists. They
would take no trouble to investigate the
merits of the claim.
when silver reached such a low price
mining men of Colorado and Utah and
mining representatives of Eastern and
foreign syndicates began to turn their at
tention TO California. Some of the finest
properties in the State were secured before
the local capitalists woke up TO the situa-
ton. Many of the Old-abandoned mines
have been TeOpened with good results.
New machinery and new methods has
made 1t possible to mine and mill gold ore
much more economically.
''ln Colorado there has been a great re-
V1yal in the gold mining industry, and
hat State, with lis big mines at Cripple
Creek, promises 10 rival California in it's
output of gold for The coming year.
This increased output of gold will natu-
rally prove beneficial all around. Other
industries will be stimulated, and as the
yield Of gold increases there ought to be
an advance in the price OF silver. The
great goldhelds of South Africa, by in
creasing the worlds supply Of gold, will
have marked influence toward restoring
something like the former relations be-
tween the two metals.
THE new Japanese loan OF $4,000. 600
though domestic one, will have the effect
of making silver RISE and of course the
war between China and Japan shows
good effect upon silver even now"
The report of the Director of the Mint
upon the production of the precious metals
in the United States during the calendar
year 1898 has just been issued from the
Government printing Office at Washing
ton. The output of the precious metals In
foreign countries is also allowed much
space in this work.
The approximate gold yield of the mines
of the United States for 1893 is given as
1,739. 1913 fine ounces of the value in round
numbers of SIS. 955, 900. against 1887. 100
AHO SAbOCo Va iuO NdtuC VI GOOsO14t SOL, AL
Increase of 142, 223 fine ounces of the value
of S2940,019. The United States in the
face of these figures still ranks as the
leading gold-producipg country Of the
world. The production of gold in the
United States last year exceeded that of
any year since 1880. 10 Colorado alone
the increase over 1892 was So, 227,0
The production of silver for 1893 was
100000 fine ounces of the commercial
value Of S46, 10000 measuring the metal
at rs cents an ounce. This was less by
100000 ounces than the product for 1892
representing a loss in coinage value of
S4.525, 253. The greatest decrease was
shown in Montana, a falling off eff 2, 1872
400 ounces ia production.
The production of silver in the United
States reached its highest in 1892
During 1892 S16.616,4 0S in gold and
SO, 106, $40 in silver was used in manufac-
lures and the arts ia this country, In
1898, with an increased production of gold
and decreased production of silver, only
S12, 523 523 in gold was used. while the use
of silver shows an increase, the total
amount of the white metal used being
So. 534, 277.
The worlds production of gold in 1893
was 1923, 1862 ounces fine. of the value of
S155. 521, 700, against 7.077, 146 ounces fine,
of the value, of S146, 297. 600 in 1892. IN in
crease of 446, 216 fine ounces, of the value
of SO, 224, 100, for 1898.
The worlds OUTPUT of silver in 1898 was
o.