Birmingham state herald., 1896-02-29
Schillinger Book Beer on tap today at all saloons.
The Advance in Silver.


 Louisville Courier-Journal
 Nobody need be surprised at the in creased value of silver, though the reason assigned by the press dispatches, decreas- ed production, is incorrect. The cause for the advance in New York and London this week is doubtless the transfer of the Chinese indemnity to Japan, but there is a still more satisfactory reason to be given. This, though it sounds paradoxi- cal to say so, is the low price realized for the white metal during the past few years. The cheapening has been follow ed by an enormously increased use in the arts with the result that prices have been showing a strong but moderate up- ward tendency for several months. As for the production, that has declined but very little, if at all. There may have been . a decrease in the output last year of the American mines, though this is disputed. but this has not been sufficient of itself to affect the market.
 The Japanese have managed very shrewdly, though responsible for the last fiuctuation. Instead of coming into the market and purchasing at once the whole amount of silver called for by the Chinese indemnity the gold was lodged in the Bank of England, and has been hereto fore quietly used to absorb all the silver !. offered without causing speculative rise in price. However, this object could not be entirely attained. The market has been kept so bare that the offerings of
 
 for some time been taken at handsome premium, and, in consequence, there has been gradual appreciation in the cost of silver The average London price for 1895 was 297sd, while in 1894 the low wa ter mark of 28 15-16d was reached. Yes- terday bar sold for 319sd per ounce in London and 6Sasc in New York.
 The high-water mark of production was reached in this country in 1892 when 63, ,000 ounces were turned out from t.,o .~fx .t..l. Colorado. In 1894 the yield was 49, 800, 900 ounces, and the mint director estimates that the>1S95 yield was only 46,000, 900 ounces. President Valentine of the Wells-Fargo Express company does not agree with Mr. Prestons conclusions. He thinks the 1895 yield amounted to 54 4,26S,- SSS ounces, while for 1894 he puts it at only 45,5SS,91l ounces. MT. Valentines position enables him to speak with au- thority, since his company transports all the bullion. but 1t is immaterial whether he or MT. Preston is right since the fig ures for Mexico show an increase. Ac- cording to the Financial Chronicles ta- bles the Mexican yield was 52.000, 900 ounces last year. against 47 .038.3 .3S1 in 1894 If Mr. Valentines figures are cor rect the United States will. as they have done since 1871, lead all the silver pro- ducipg countries. The worlds produc- ton for 1894 was 167. 7.752,517 ounces, and the Chronicles estimates are that for 1895 1t will reach 165,500,000. accepting MT Preston's estimates instead of MT. Valentines Should the latter's figures be taken, the total would be about 174,- 0D1. GOO
 The increasing use of silver In the in- dustrial arts has heen observed by ev- cry one during the past five years. Sill yer spoons, once the luxury of the rich, are now the cheap convenience of the of every sort have become unprecedent- edly common, and the jeweler will tes- tify that his silverware trade has stead ily grown despite the hard times. Last fall the silver manufacturers agreed to