The Wadsworth dispatch. [volume] (Wadsworth, Nev.) 1892-1899, 1895-03-30
SILVER BEGINNING TO BE AP PRE-
OIATED.

Just at present the silver market in
New York is more active than it has
been Tor long time. During the first
part OF The week the price advanced
sharply, and although slight reaction
has come there is general advancing
tendency noticeable which means some
thing. Two important causes are at
work to bring about the rise in the price
of silver bullion. The first Is the recent
action of Germany and England favor
ing another international monetary con-
ference and the second Is the impending
indemnity which it is expected that
China must pay Japan in order to secure
peace.
The mos important cause unquestion-
ably is the growing probability that the
leading nations of gold-using hemisphere
will soon reopen their mints to the un-
restricted coinage of goli and silver at
an established ratio, say 16 12 or Is to
All the countries which have adopted the
single gold standard have been suffer
ing extreme depression for more than
two years, and the conviction is growing
rapidly in all intelligent minds that the
condition can only be relieved by re-
turn to bimetallism.
On the other hand all the silver using
countries, which comprise more than
two-thirds of the population of the
earth, are enjoying unusual prosperity
as a natural consequence OF the appre-
citation OF gold in Europe and the United
States. Silver has lost none of its pur-
chasing power in India, China, Japan,
Mexico or any other country whose
monetary affairs are ON silver basis,
and the appreciation of gold in this
country and Europe makes it possible
for the nations which adhere TO the sill
Yer standard countries. 1t also stimu-
lates manufactures OF ever kind in the
Orient. The number OF spindles in cot
ton factories in Japan has doubled dur
ing the past two years, and the great
mills are being built in China 10 supply
textile fabrics formerly imported in large
quantities from Europe and this country.
The best evidence obtainable clearly
shows that the cotton factories of the
Orient earn profits ranging iorm l8 10 80
per geut. per annum, while tue best COL
ton mills in England and the United
States earn less than l per cent. per
annum.
This is only a single example OF the
evil effects visited upon gold-using coun-
tries by the dislocatlon between the val
ue OF fllver and gold caused by demone-
tizatiun OF the white metal, but it is a
very Instructive one and the more thor
oughly 1t is studied the more powerful
will it's effort bs in favor OF the restora-
tion OF bimetallisn. The rapid rise
which has recently occurred in the price
of silver indicates clearly that if the
United States acting alone should throw
open its mints TO the unrestricted COIN
age of both metals at the ratio of l6 to l i,
silver would immediately rise to the level
of 81 20 an ounce throughout the entire
world and the whole problem would be
solved in that way without the cooper
alton of any other country. Certainly
there can be no doubt that if several of
the leading governments of Europe
should join with the United States in
the rehabilitation of silver, the present
difference between the bullion value and
the coinage value OF that metal wou d
instantly disappear.
The outlook for bimetallism is brighter
now than it has been at anv time for
twenty years, and there is good reason
to believe that within very brief peri
od, probably two years at the outside,
silver will be restored to its old place
and value in the moiey value of the
world