The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1895-12-14

magazine, aud re inquiries
what il TO be done with 1.-The coming |
f,ood of gold" He says! Assuming |
that the quantity required. for indus
trial purposes and to replenish circula-
t,on remains about the same as hither-
to. the bulk of the annual surpips I'M
ports will simply go to swell the huge
accumulation in the banks (of Eng
land, vaults;a and 1t is understood that
already the accumulation is SO great
that II has become necessary 70 pro-
vide increased storage room IN the
vaults of that bank.
The london Financial Times sees no
reason for assuming that there Will not 4
be a vast increase in the quantity
taken for industrial purposes ana az.
sorbed into the money circulation OF
different countries. On the contrary
n thinks such. an increased use must be
the logical result of the great augment
in production that now seems to be as
sured for many years to come. ms
will give a stimulus To business OF all
kinds, and by so doing will cause an
advance in prices, which, in turn, VIII
render necessary the employment OF
| larger amounts OF gold money for the
transaction of a stated amount OF busi-
ness. Manufacturers and agricuitur-
| lists will probably develop their respec-
| i've Industries to such an extent as 10
remove much of the difficulty arising
from an inconyenient accumulation OF
bullion
The question as to whether very
large stocks of gold are convenient or
announcement is a relative one, not to
be answered merely by reference to the
number of dollars or pounds worth on
gold contained in the pile. much
more abundant supply would tend TO
lessen the buying power OF the unit, by
raising the general level of prices OF
commodities, even if there were no I'M
portant change in the cost OF producing
| the precious metal. But it is well
known that modern science has intro
duced processes which enormously
cheaperi the cost of obtaining the aver
age ounce OF. gold, thus rendering 1t
possible to take out gold from roch
which previously would not pay
for working, as we'll as yielding vas,
; profit from mines that formerly would
!. have given but moderate one. SC
long as the results of these operations
are not large in comparison with the
, total stock the big profits may go int
the pockets of the gold producers, but
Q when the total of supply is consider
r ably increased by 1t the price OF golt
: must fall as measured against tn
4 things that are bought with it, and Thu
: without reference to what the goi'
: previously in use may have cost to pro
= duce it. The latter point was not raise'
Il amid the great advance in prices tina
II followed the augmentation in tn
worlds stock of gold from the mining
. activity In California and Australi
" near the middle of the present century
,r 1t would not be raised now, except o
II some crazy free silver extremist, IT
!. should have doubling of prices in COZ
! seouerce of a corresponding augmen
L in the supply of gold.
r The present year will witness an II
- crease of about five per cent In tn
ID worlds stock of gold, and 1t seen
" probable that within the next fe'
OF wears the annual augment will hay
10 risen to not far from ten per cent. III
resulting abundance cannot fail to
nd feet a corresponding change in II
D. urices of commodities, thus sweepin
u u AWAY the main argument by the abu'
nj of which the free silver extremis
of have striven to pervert the minds
Use the people. Nor is there any reason
90 90 suppose thechange would render "b
ms metallism, with free coinage at sixtee
,ss to one.r any more possible than 1T
sss now, for the cost of producing siiv
es has been cheaped far more than In Il
Of case of gold. 1t would be idle to su
re- nose that cost cannot be further il
OF sened, as measured in units OF hum'
INC labor. and experience has shown that
IN. difference of three per cent. or less
III tween the legal and commercial val
ri of one metal as expressed in terms
,an the other is as fatal to circulation
Ike eoual terms" as would be differen
the of fifty or more per cent. And the
in crease in the quantity OF gold wo.
as' lessen IL not abolish the need OF usl
vo- silver as the basis of paper curren
SO more especially so as basis OF reden
\ ton at long way below gold par
ere Chicago Tribune.
No Danger of Free Silver.
has There appSarS W oc no
the ever that any free silver bill can
,r.,- | 4 - VOC nI1fQ