The times. [volume] (Richmond, Va.) 1890-1903, 1895-08-21
'.Ihe Enormon. Gold Production OF 1873 ana
it, Effect Upon the Political Economy OF
the World ="

Editor Of The Times, Sir
An examination Of the reports OF the
Mint Bureau at Washington from the
gold producing districts Of the United
States OF America and Australia. and es-
pccially South Africa. make an astoiish-
ing exhibit. The production or Solu iii
the world for the year 1875 scached lne
enormous amount OF sl6l,JaVN|, ana J..
seems iu the highest degree proudplt ina
the production for 1895 viii pass the S4p,-
10000 mark and in all human probapillly
il viii perhaps Doc as much as $-i9,yn I'D,
indeed. 10 may Doe slightly more. Inc pro-
auction of s9U.0OJOlD IA a single year VIII
equal the entire aggregate production or
both gold and silver as recently as lsoo'
and il will be- twice the average goid pro-
ductiOn between the years 1901 and 1870.
THIS fact PROFESSIONALLY marks new era
H. the financial history or tht "oliu.
No special new discoveries nave nteh
made, but tho increase IS the result OF
the growth and advancement OF cnemlcal
science. New methods OF extracting b.
are following each other with great fapi"-
ity. and il IS not al all unlikely or I'M
probable thar ere the opening Of the
twentieth century the worlds production
Of gold viii equal and perhaps pass ilc
SL0NDO0J mark Science and nature
seem 10 work together in UNISON anu
harmony to break the force OF re great
crime OF the decentralization = silver.
10 would Doe the vcricst irony ct tate DIT
gold should Doe discovered in such qlanu-
ties as 20 greatly lessen IT'S value ana sli-
Yer should become the scarccr metal
II 10 should happen. fhcn tremendous
offort viii be made 10 dcmouetize gold.
We live ip an AGE i'm which mighty
events follow On EDO other VITA almost
lightning rapidly, and yet we are i"t"'s
wears hehint what We should have been
Ar silver has not loof, GenoncfiZed iu 1915.
II destrovna entcfDriee and cheaucned ll-
d,,,.ri.e T., tl, amount of millions of dOl-
lars # Immensely aided China. Japan.
and British india and so stimulate
n,aut.fs1f,troe thaf cotton goods manufac-
fifroI ir frffieb india are now being ship
ned and sold I'm fnc German markets, un-
derleilin0 +le home manufactures.
~ bae ,',,,,r,roliel, siini,Il,fod the grow De-
ana nroduetfon Of wheat i'm British India.
md Indeed in mi silver maromctalllet
countries c-aafl, reducing IT'S price ll
we "lt'l ~ ~ All, .. 10 ~ 3D.,
- H., ti,o iaet dr.,fe ba- increased Odd
" co. - nro,ortior ts,n fhe in-
- - ~ lila af y.t,a+ ard VET fnaf
s,a.'i, or,iif A. -. ,,o,,. tb,r A. was
~. ~ 80. ,..,e and is
eIm ."I' 49, ,e,.,i. -, ti'r.
,.''' a., Ia i ,f,,Hte go COMO
on SiiNer' u sllt1i idu ''S i.l"'. ,,o
anu can assiiillldlc any use We VIZ
iai t'S, @iii'al .e,..' '''' "a '''~
10Y. WI, oi Tyi,, S5o ,6I of c,r.,l now can 90
n HleH WIZ 80 ~ ''' .-'" ~
our iNhr5 th' nusIi, p tHal ,it Cvii" ~
en- me same capiial in ~" pro",is, l.,'
o. .'l ~,
sci'n.e ,il'Die LIZ of ia '.,,'.l.i
l'itsialn' ',i'i ,i,7, ail- ii"il. ID, =.
steamship navigation 20 tuin nus Hun,s
over Iour times as olien as At formerly
could nave done. II iolloWs' therefore,
IS necessary consequence, that we heet
four times me amount OF capital ana
money that was needed IN lNp. ana u
this statement is true, ana ] am sure lt
cannot Dee success denied or conifo-
Nerted, II conc iusNcly proves the CRIME
manly ana folly or the ctmoncu]tllo non
OF SILVER ana should De stronP ana ac-
i've incentive 10 all thougAil n! men 10
Work for IT'S complete reconciliation.
me HOl 1iieih pi"ra Us Huch tldtti n'-
cause lot of h5nkcrs are watch