The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1896-06-27
AN ACT OF lMBECILlTY.
teasons Why America Should Not Allow
Europe to Fix the Price of Silver.

teasons Why America Should Not Allow
Europe to Fix the Price of Silver.
What are the facts today as to the
production of silver, and where is it be.
ing produced?
The report of the director of the mint
dated June "a, 1894, shows that the
worlds production of silver for the year
1898, rated at the ratio of 16 to /.
amounted to $20S. 81, 900. Of this
amount the United States produced ST.
575, 700. and Mexico produced $57, $780,
500. The amount produced in the United
States and Mexico was $134, 951, 800,
and all the balance of the world pro-
duced $73, 419, 700. But of this S73,-
419, 700 the South American and Central
American states, all of which are silver
using countries and equally interested
with the United States in maintaining
the price of silver, produced $40, O44, 700,
and the Dominion Of Canada produced
1921, 400, which makes a total produc.
ton in American of $16O, 81, 400, and
all the balance of the world produced
only $4S, 053, 600. The amount actually
produced III Europe was $40, 1915, 100.
The noun produced in Great Britain,
the country that now assumes the pre-
negative of fixing the value Of the silver
bullion of the world, was 1927, 700.
E~ngland's production of silver is less
than two mills on the dollar of the total
production. Instead of being able to
dictate the value of silver bullion, she
ought not to be consulted at all. She
should have no voice in the matter. In
fact Europe combined could not, as
against the wishes of America, exert
much, if any, influence on the value of
silver. The amount of their production
or OF their actual consumption Of silver
IS TOO rlfiing to have any material in
fuence on its market value. Europe re-
CURES a certain amount of silver bullion
annually to keep up her supply of token
money, even though she might discon-
tlnue Its use as money of ultimate OF
tina redemption. The amount now be-
ing consumed by her for coinage pur-
poses averages about 1872. 600, coo annu-
ally, to which if you add the amount
consumed by her in the arts it will be
found that instead of having silver to
sell she annually consumes more than
double the amount OF silver that she
produces.
1t may be Il fine thing for Europe to
allow her to fix the price of silver bull
lion, but it is contrary to all precedent
and an outrage on the silver producing
countries. America produces more than
three times as much silver as all tie
balance of the world and more than ten
times as much as the amount produced
in Europe.
The total amount Of silver produced
in the world, outside Of America, is not
to supply the demands Of Eu-
rope for coinage purposes and for use in
the arts. 1t is not sufficient TO supply
the demand of India for coinage pur-
poses alone. 1t would hardly he sufi-
cient to keep the silver gods of China in
decent repair, to say nothing about the
necessity Of a new n nov and then.
Mexico and in fact all of the South
American and Central American states
are equally interested with us in main.
tanning the price Of silver bullion ard
will gladly cooperate with us in any
effort we may make to restore silver to
it's former position and value in the
monetary system Of the world. 1t would