The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-04-23
acknowledgement
wnrELiNG. ArEIL ~. 1898.
Gold aud silver In the United States.

Snlu nhu StlSrr III the ohiscu S'atrs.
Tho advocates of the ttoo aud un.
limited coinage OF silver by tho trcai-
ury OF tho United States without regard
10 that which other countries may DO
or refuse to do in the premises, point to
the net OF 1871 by which silver was de-
moretiZed-'the crime Of 1879 they
call it-and find in that tho reason for
the depreciation of silver.
In 1873 the average price of'the white
metal was Sl.o9S per ounce. Tho com.
mcrcial ratio Of silver to gold va. thon
l593, In the past fiscal year tho mar.
kcs price OF silver averaged 1851 per
ounco and tho commercial ratio was
$3.50. Tina. is to say, it took $3.50
ounces to buy one ounce OF gold.
Notwithstanding the treasury was
buying and piling up silver for which
Il had no use. tho price had fallen
ateadily until silver had lost nearly halt
its value rs gomPatsl with twcntv.onc
years before. In that time sur produc-
ton OF gold, SS6,0l0,O00 in 1919. never
going as high as S5o,O0o,0O) in any year,
tell to $50 o0,0 900 in 1851, Tor nine years
was nearly stationary n. S33. 900.
and in 1894 reached SIS, 100000. but
81 900 more than it WAS twenty-one
years earlier.
With silver tho case has been quite
different There has been a steady and
considerable advance in the production
since 1878. when the output was S32..
100000. In that year the gold outpu.
was S4.000.0 900 greater than tho silver
production. In 1878 gold passed silver
in amount produced in tho country.
but two years later silver went ahead
by s., 1000 and BY. rapid strides has
increased the distance between the two
me.als.
In ten years the annual product oil
the silver mines has not ono fallen
below $50. 600, 900. for six years it has
not been below S60,000,O 900. and in tho
four years last passed it has not been
below S7O,OOo.0 900 in any year. Las.
year the production was S71,000,00O,
very nearly twice that OF gold. The
tables have much moro than turned III
.]wenty-onn wears. Then gold was ahead
OF silver by Si.0Oo.0O0 OF production.
Now silver ia ahead OF gold by Si39.000..
W0. In all these years gold has gained
s., 00,0O0, while silver has gained
Si5.00O. 900, aud moro than doubled in
output
Conditions in other nartso of tho world
have contributed to bring sIlver TO the
lowest price on record, but it is easily
seen that ou. largely increased produc.
ton furnishes Of itself n very good
reason. In the TACO OF falling price our
mine owners continued to produce all
OF tho white metal they could get out oil
the ground. and although tho govern
men: was doing more for them than
they ever dreamed i. would do. treasury
purchases could not stop the decline,
Natural laws operated and the differ.
ence in value between tho two money
metals continued 70 widen.
In the face OF tho record to say thu,
the government. OF tho United States
could restore silver to its value OF TWEEN
.y years ago ia to say that it could per
form a miriclc II only it would try. II
has tried and failed. Government can,
not pu. n hundred conts OF value into
an amount OF metal worth so cents in
the market.
Nor can government keep n 50.cenl
dollar n. pal with l00-cent dollar one
minute longer than il. has a l00-ccnl
dollar to exchange for every 50.cent dol
lar that may be presented ut tho treas
ury. Tho moment this exchange Is nc
longer possible gold goes to n premium
in other words, silver finds it's level.
The result would be moromctnlliam
with silver as tho basis. The expert
ence OF mankind and common son sc
point TO the one outcome.
There Il n feeling in Europe in iavo,
OF nm enlarged use OF silver. II VIC make
it perfectly clear tina: We arc not going
TO bear the burden alone that under,
standing may lead to an intornationnI
agreement In which wo shall have tc
undertake no more than our lair share
in u common movement.
Joining in an international movement
would DO quito different from netting or
foot and trying to maintain II silver
movement OF our own. In one case tn.
world OF commerce would DO with US
in the other against us. Ono way would
promise SUCCESS, tho other would invite
disaster.
CLEVELAND Republicans protest vigor,
ouaIy a.ainst holding tho %Eopublicau
s,a.e convention before tho convention
Of tho National League, or in that CITY
during tho lcegno convention. They
,i., ,I. un,,IIi,,p ne n tho n, ,lu