New-York tribune., 1896-09-30
WHY SILVER HAS GONE DOVN.
OPINION OF AN EXPERT ON THE CONTEN-
TIONS OF THE BRYANITES.

Cvru. 7 Lawrence & Sons bankers and brokers
at No 81 Broad-st recently addressed a letter 70
leading bullion dealers in New-York. saying;
The Democratic and Populist candidate for eiIc preSc
addresses which he has made since ms hol'1Iis @ .or ~
has asserted that The saes te ana ns at the rao Of
IS 20 would have the effect Of so increasing ns IN: ~
commercial value Of silver euSn wod as rise an in value 50
We believe this is a purely commercial question
and not which the Opni9ns Of mere poass dSrss
Of any value whateyrr we tnereiors v.ars and
therefore experts to its value in the market ana
venture to ask You he ba 96r rm Been buying
and selling silver bullion? 49, . to,xh,
Are YOU familiar with the production Of silver
bullion ia The United States both al present a'u III
Wat your opinion is the reason :;.cs ss t9s the de-
How far II at ak did the so,casd demonehe 0naanee
on :. sSsr S ancS ' in by IN. the Sau Of @ baon
What your iudsmen wGna h6s be Of 59t essaaion
provdns T tns' for the free and unlimited coinage Of silver
by the United States alone at ratio OF 10 % i; III u
bon Ho how much do You believe 1t would do and
would such enhancement Of value II any, con''"ue
We desire permission 10 publish in convenient form form
such replies as you may favor us v Mn .nd 10 III.
public enlightenment on this question
James B. Colgate Of No "a Wall-st.. who was
formerly the largest bullion dealer in TIE country
and is also a well-known bimetallist. replied
| am In receipt Of your favor OF the lst inst, and
regret that | could not furnish you with an carrier
reply | trust that my answers TO your SIX uues-
tions will prove satisfactory TO you
l. Thrty-onc years. Then. in 1888. my nrrn re-
tired from the bullion business in favor or It's clerks
g Unknown, but the ounces OF silver purchaseo
and sold during that time only be expressed by
millions.
3. | am, somewhat e.,
4 Simply productions the price OF silver and
rold being governed by the same laws that regulate
any other article of merchandise. such as wheat.
cotton iron. butter cheese. etc.
dollars BY the United States up to 1873 was only
So O3l 236 Since then the amount OF silver bullion
purchased for coinage has been in fine ounces 1885,.
9s4 $50 from which there coined in dollars from
1873 TO June co. 1885, $423 9,29 This amount in
cludes s. O7s Az coined from trade-dollar metal De-
Quoting the trade-doar metal there is still left In
the Treasury l73 35250 0l5 ounces of fine silver pur
chased on account OF sver-dollar coinage. Yet in
the face OF this fact the price OF silver has de-
cllned.
s. 1t might temporarily advance the price of sill
ve II Is estimated that the worlds supply Of silver
I'm lolars IL about four and half billions. The free
coinage Of silver at the ratio Of l6 to by the United
States alone would require advance In the price
of the worlds supply. Such an advance would not
only cause an increased production, but would IN
vite all the spare silver OF the world us. This In
my opinion. Is too vast a contract for to under
take II would In the end, result most disastrously
And for what good? Only to carry out a sentiment
which exists In the minds of the dissatisfied that
something ought to be done.