The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1894-04-19
GOLD AND SILVER
is THERE ENOUGH OF THE VEL
LOW METAL?
Some Statistical Comparisons
That are Instructive and Re-
freshing---The Output Of Gold
and Silver---Not Enough Of the
Former to Accommodate the
Worlds Business Require
mentS.
Wilmington Messenger. |

Blmetalllsm is the choice OF proDa-
bly, 5000, 900 of the 500, 900 Demo
cratic voters or supporters in the past.
Ex- Chairman Carter, OF the Repub-
lican National Committee, says there
are 90 per cent. of the people who
favor it. But be that as it may, it is
very certain that great majority OF
the Democrats favor it and mean TO
have it. When you read of there being
some 5000. 100000 of gold in the
United States you will put a great
puzzle if you insist upon knowing just
where this great sum is. 1t is not in
circulation. 1t is not owned by the
government. 1t is not in the possession
of the banks so far as it is known to
Cleveland or Carlisle or any banker
or broker on Wall Street. Then where
is it? The Atlanta Constitution is
correct in saying:
1t is purely the result of guess-work.
Nobody knows where it is. 1t plays
no part whatever in the published
figures Of bank reserves. Wherever it
is, it is not in circulation. 1t cuts no
figure in business. The gold in the
treasury is not in circulation, and the
gold in private hands is boarded. So
that, to all intents and purposes, our
stock of gold has already disappeared.
What is the annual output of gold !?
Wipe out silver as part of the currency
of the world and of this country. 1t
is nearly half of the standard circula
ton. But kill it, wipe it out, and
then what? There will be famine
of gold very soon. Let US see as to
the United States.
In 1892, The output is given at
S3Sooo,ooo. This is thought to be
about fair average yield for this
country. Quite two-thirds or more
are used in the arts, etc, it is said. So
the annual coinage will be no very
great thing tor great country increas-
ing more than one million Of inhab
tants year-possibly million and a
half.
A writer in the Washington Times
says:
1t is the fact that the worlds output
of gold in 1892 was Sl30, 600, one
third of which, or 43,6l5,533 was
coined, the balance being used in the
arts. You would be compelled,
kind of money. What sort would you
choose? The silver advocates will
never consent to fiat money. They
have no patience with those who favor
irredeemable paper money. They wish
all forms of money based on the
precious metals.
There is not enough of gold alone to
serve as a safe basis, and those who
are now striving to put this country on
a gold standard know it.
Listen to the goldbugs and you
would suppose that the worlds yield
of gold is so great that it will rival the
products of King Solomon's mines.
But the best informed writers do not
make such wild and unsupported
statements.
The above was prepared some days
ago. Since writing it we have taken
the trouble to look more carefully into
the matter of gold and silver supply.
There are some facts connected with
these metals that are we'll worth know
ing. In A. d. there were 81, $40, 900,
900 of silver and gold in the Roman
Empire alone. When America was
discovered there were but $4,000,
900. Then products were lower than
were ever known. Discoveries of gold
and silver were made until in the last
century the coin money of Europe
alone amounted to 81 900, 900, 900, or
nearly what it was at the beginning OF
the Christian era. By the end of the
last century the supply was s1,9oo,-
100000 but in nine years it had
fallen s4oo,ooo,ooo. What followed?
Why, with the decline Of the metals
came the decline of prices in proper
ton. We all remember what an excite
ment filed the land in 1S4o, upon the
discovery of gold in California. For
the next twenty odd years three times
as much gold as silver were produced
in the world. The gold product
amounted to S3,ooo,ooo,ooo From
1873 to 1890 it fell off, but $780,
100000 of gold were produced, or
sIo5 100000 year the world over.
/ These are the figures of the Director
of the government mint. In the same
time of silver produced there we're
S1,7oo, 900, ,ooo-about the same as
gold. From 1S49 to 1898 the total
gold product was s4,9I5,722,ooo,
against s3,574,444,ooo-orm more OF
gold by s1,34I,278,ooo. So it must
be lie pure and simple when it is
said that it is the excessive production
of sikver that has caused the financial
panic or the disparity in the two
metals. Something else has done it,
and no mistake about it. We will
have more to say as to this at another
time.
There is a great deal of gold and
silver used in the arts. But after
deducting this there remained as
usual product of $40, 100000 OF both
metals. This mind you is the product
of the whoIe avorlA. Money in circula
ton wears out after awhile. There i:
rapid increase in the gold used iI
arts, etc. In 1891, nearly or quite
s22, 900, 900 were used alone in the
United States. If this increase goe
on il another ten years the whole golc
product of this country will be con
s,imed in the arts alone. In arts anc