New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-08

Those figures show that for the first period OF
6f,vtwo wears from 1898 10 1914. tho production OF
cod exceeded that Of silver by N,HIWV yedfy
average excess Of god OF Nis9.s65
For a period Of 2a5 years. from loR 10 iST'' inc
PRODUCTION of silver S1ss,7o20o more than that
=, GOA an average yearly excess OF silver of
So S2.37e.
Between 1871 and 1880 period OF thirty-nin" Tenrs
the production Of gold exceeded that OF silver ~
81 ess s25 900. average yeary excess OF soa OF
so. 80. So
Rc,vcon 1881 and 1885, period Of thirteen years,
tho production Of silver in tho word has been
COO more than that OF god an average yearly
excess Of 500 23@G OF silver.
From 1893 to 1886 the production of silver has ex-
ceeded that Of god by :0ssio oo. an average yearly
excess OF silver over god OF S.'fSo
Now these figures show the difference In the pro-
duc,ion OF these two mstais during these periods.
The Gresham law. that the cheaper metal always
drives ont the dcarcr when the coinage OF bon
metals Is unlimited. would necessarily put inc
currency OF the world on gold standard during the
frat pcriod on n s..ver standard during the second
on q gold standard during the third. end on silver
standard d Iring the fourth. Now. tho relative con-
sumption OF these Two metals asi:e from their use
as COIN is not so definitely asccr,aiDcd but the re-
por, OF the Director Of the Mint FOR 1894 shows that
during the years 1882 and 1896 the amount OF gold
consumed In the industrial arts IN tho United States
was $50 1881 average OF 81 sso 30 year. and
that the am0rnt Of silver used Tor smcn purposes
ylS.oiDSI. a yearly average OF s'5sDiS o. mus
showing that there is demand for S2isG! moe
annua..y OF god than OF silver for consumption IN
the Industrial arts OF this country.
If the demand for gold In the arts ~ proportion
ately as great In other countries as In this there
must be a yearly demand for from s2sooo.oo to So :
10000 more gold In the world for such purposes
than silver. The excess of silver In the word
estimate the demand for GOLD In the sr' to be ;
ODoWo shows difference In INC relative proaue..
ton and consumption OF these two metals OF about
$4,000 900 year. -
These facts ought to be gwen Que on s atom
age OF silver. they must exert an important IN,
fuence the relative commercial values OF g9Ii,
and silver. I'n,ess the ratio OF the commerclai
values Of these two metals Is very nearly the same
as the ratio their coinage value II Is evident mat
they cannot possibly be kept at par with each other
The moment the commercial ratio varies from INC
coinage ratio, 1t makes one OF the metals worm
sell FOR more in the markets than II would be worth
TO convert II into coin. The parties holding that
metal. either In coin or bullion woun nor use - A.
mercal vaue The very great excess OF silver at
TIE prcsen; time over god and the very great ds
ma nd OF gold In excess Of silver in the industriai
arts must certainly tend to prevent the CONNER
ca ratio Of value from being tnywnere near rhS
dcmonetze our gold coin 49,,
Now the question for the people OF t,iis country
consider In reference to the free and anl'inc &c,
coinage OF silver H. 10 whether they prefer Sill
YER standard without any gold coin gold
standard with about as much silver coin In use ~
have OF s1d COIN ana kep' al par w wnms Of
money by maintaining tho GOD standard than We
cen by the silver standard alone becnu ,s av W.
coin AT par with god coin. siver being the cheaper
metal but If We make the coinage Of silver un,
co"rsc Dive our gold Out Of use az money We
should have god coin with a silver Stand",u,
while We can have nearly a. much silver WIN anr
gold standard as we have OF god all ksP! a. par
Ncw-York July O. 1895.