The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-09-19
PRICE OF SILVER.
Correspondent QuOtes Figures
From Treasury Department..
Q the editor OF the Globe

To the Editor OF the Globe.
In answer to those who argue that the de-
cline in the price of silver since its de-
monetizatfon in February 1873 In due to the
enormous Increase in it's production since that
date, permit me to present the following facts
compiled from pages 49, %, 20, 26, 80, 81 and
States treasury department July l. 1896.
Any one may obtain the circular free on ap-
plication to the secretary Of the treasury,
Washington. d. c., and may verify the fol-
lowing facts. The unfairness of the gold
standard advocates in giving the statistics
OF silver production since 1878 without show
ing the corresponding increase in the pFodue-
ton of gold for the same period will become
apparent
Worlds Commercial Ratio of Silver and
Gold
Lowest. Highest
167S-1S72. ...........1414 to 1. 1925 to L
variance of I'll in a period Of 1856 years
Total Production of Gold and Silver in the
Gold Silver
i'f Ratis 4s4 silver to 4S sT Gold $685. aSa
Ratio, sos silver to / Of gold.
lS9 Rat1s silver - s4 4 ys1s 2ss2a1a
Ratio. 1876 silver to 1 Of gold.
Ratio. Il. silver to Of gold.
Coinage Of the MINIS OF the World, In
Ounces
Gold. Silver.
1973-1894 164 7o2 527 131 $50 eli
Largest Production of Silver in Any Ona
Year, In Ounces sar5l
Equivalent in standard silver dol
Population Of q. s. Sept i, 1895. T,S4SS8
Increase per capita ............ $3H
Population Of silver using nations i 155 $50, 00d
Increase per capita ................... IL
Summary: Between 1857 and 1878 the com
mercfal ratio Of silver to gold fluctuated be-
tween LA to l and 1925 to l, variance OF
only I'll In period OF 1856 years.
Within the same period the ratio Of pro-
duction of silver and gold iuctuated between
80 to and 5o.3 to l, a variance Of 1873
In all the period prior to 1873 there was
1874 times more silver than gold produced
in all the world. F4.e-a5
In all the period from 1873 to 1896 there
has been only 141z times more silver than
gold produced in all the world.
In the period from 1873 to 1894 the mints
Of the world coined more silver than the
world for the same period. though the mints
Of India and the United States have been
closed to silver since August, 1893, and though
the leading commercial nations have been on
q gold basis and coming silver only as sub
sidiary coin and token money.
II the entire silver product OF the world
alone it would add to our currency only San
per capita; and If coined by all the silver US
ing nations it weuld increase their currency
less than twenty cents per capita.
cial ratio was not affected by the ratio Of
production. There can be doubt that the
commercial ratio would have remained fixed
Ii the coinage ratio Of the nations had been
uniform.
Our present coinage ratio Of 1s to 1 Is ap-
proximately the ratio of production. The de-
cline in the value of silver since 1873 is not
due to over production as alleged; 1t is the
result of hostile legislation destroying the
functions of silver as basic or primary money.
In the event Of free coinagesby the United
States there would be no flood of silver to
be coined; there would be no silver available
for coinage except the current product and
other nations would absorb the greater share
as they have done for the past 300 years.
John G. Hessian.
Duluth Mimi, Sept. Is.
eve have already covered the above argu-
ment several times. If, for the sake OF argu-
ment, any one were to admit that some OF
the fall In silver prices Is due to cessation
OF coinage, then 1t Is the work not only of the
United States, but of France, Switzerland
Germany, Austria and the rest of Europe
as well. What it required their united action
to do cannot be undone by any of them act
ing aI6ne.)