West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1896-09-10
values of the metals.

uNh 1t"ih h"NS uNA SVlN NtN-
coverles in America in 1916, she
became the largest producer Of tho
precious metal aud she at once
raised the value of gold from 10a
to to l35 to l and the rest Of the
world was obliged to acquiesce in
her valuation. Why? Because she
controlled the supply. a century
later the little Kingdom of Port
ugal. not ene-quarter as large AS
the State of California, and nc that
time not producing lilo of the
wealth now produced in California,
was able to come to tho front and
dictate to the world what the ratio
should De, because she was .he
largest producer. She therefore
raised the value of gold from 133
to to 16 to /. A century later,
the mines controlled by Portugal
having became exhausted, Portugal
lost her importance. and Spain then
being heavy producer o: silver,
again got control Of the ratio and
raised the value Of silver from l6
to L to 15l to l which ratio has re-
mained the European ratio since
that time Q775). What arc the
facts to-day as to the production of
silver, and where is it being pro-
duced The report of the Director
of the mint, dated June "a, 1891,
shows that the worlds production
of silver for the year 1898, rated ut
the ratio of l6 to / amounted to
S20S, 37l 900, produced as follows
United States, S77, ,575, 900; Mexico,
s57,375, GOO; South aud Central
American States, $25, OIL, 700; Can
ada, 1921, 400, which makes q total
production IN America of $3.50.
317, 400, and all the balance OF the
world only produced $47, ,053, GOO,
and the whole of Europe only pro-
duced $40, 9,155, 100, and England.
the country that assumes to fix the
price Of silver bullion for the world.
only produced 1927, 700. Her pro.
duction os silver is less than two
mills on the dollar of the total pro-
duction. Instead Of being able TO
dictate the price, of silver bullion,
she should have no voice in the
matter. Tho people Of this nation
demand that the affairs Of this
Government be run on the Amer
lean plan and not the European
plan.
The total amount OF silver pro.
duced in the world outside Of Amer
ica, is not sufficient to supply the
demands of Europe. 1t is not suf-
iicient to supply the demands for
India. It would hardly be sufIic.
lent to keep the silver gods OF
China IN decent repair, to say uoth.
ing Of new one now and then.
Mexico, and in fact all of the South
and Central America States, are
equally interested with as in main
ing the price of silver bullion, and
will gladly corporate with us in
any effort we may make to restore
silver TO its former position and
value. 1t would be an act of i'm
becility for America, producing as
it does, more than z Of the silver
produced in the world, and more
than ten times as much as the
European production, to allow
Europe to fix the price Of our silver
bullion. Let us combine with
those who have interest ~ common
with us.
Now, how about gold? IL ap-
pears from the same report that We
are also the greatest producers Of
gold. Certainly, then, according
to precedent, VIC have tho right to
q * the ratio between the metals.
How much gold docs England pro-
duco In 1898 she produced the
enormous sum Of s42, 800, less than
3 10 Of one mill on the dollar OF
tho worlds production for that
year. To allow a country virtually
I producing no gold or silver TO die
tate TO the bullion-producing coun.
tries what the ratio between the
metals shall be-, or to have any in
fuenco whatever IN fixing the ratio,
or to be even consulted in any man.
ner, IS an outrage on the iutclli
gonco Of The rest Of the world.
Now, We viii see where all that
food Of silver is to come from, VIC
] a ID