Daily capital journal. (Salem, Or.) 1896-1899, 1896-08-12

worlds production Oi tneec hc'diS' ~
the 20 years, from 1851 to 1872, In
elusive was as follows:
Gold .......... ~, ,376, ,S75, 900
Silver ............ yO2, ,92J, ,0rO
Total both metals ..... S3,279, ,SOO,OOO
Excess OF gold over silver 900
production ...... ..... li4i3,SOO,VVV
The annual average pro-
ductlon OF both metals 80
was. S................s.. lOo'1vsi@Vvo @
or gold alone. ne............ 10 o'of5'OOO
or silver alone. ......... ~, l4o,OOO
Annual excess OF gold
over silver.... ...... 'b,o9''VOV
Percent Of gold d.............-..... ~
Percent Of silver. r...........,.......Z .Z'i
For this 20 years, 81 TO 20, the
worlds production was nearly dol
lars OF gold to one Of silver. And yet
the "parlty" was not materially dis
turbed. why? Because the "mll-
lIonaire mine owner" could take his
gold TO the mint, and have it coined
free. This kept the great excess OF
gold produced at parity.
Taking both periods together, the
AZ years from 1851 to 1892, inclusive,
the worlds production was:
Gold ....,.......,.....'" %, iol ,OVV,VvO
Silver. 1876, 600, 600
Total both metals. ...... s,l36, 900, 900
Excess Of gold production 90 600
over silver. ............' l,oooiVVViVVV
Annual average produc- 80
tion OF gold d...,.,.,.... il5,OOO, w, W.
Ot silver. .........' oOiOuO,VVo
or both metals. ...,,. l03,OOO,OOO
Annual excess Of gold pro- .o ooo
ducJlOn n.....'...',.'''' oo,VVViVVV
Percent OF gold ld..........,....,... .5St
Percent OF silver. .4lt
For each 81 In silver the whole
world produced, IL produced Sl.4l In
gold. And yet men possessing some
degree Of intelligence, have the col
lossal assurance to tell us, that II Is
"over production" of silver that has
caused It's decline.
For the next perlod-lS7l TO ls02-22
years-the worlds production of these
metals was;
Gold, 1884 200, ,OOC
Silver. go. 2,472 900, ,OOO
- ---------
Total-both metals. ..S 4,S56,OOO, ,OOO
Excess OF silver over gold
production .,..,. -. oo,UOV,VVO
Annual average produc-
tion Of both metals. 22O,OOO,O OOC
or gold alone .,,.,.,,,. l0oiUOO,OOu
OF silver alone. ..,,,.. ll2,OOOOOt
Average annual excess
production .......,... 4,OOO,OO
or the whole product, gold was 49'
per cent, and silver 50i per cent. II
will thus be seen that for this last %
years, the production OF gold and sill
yer, re-colned at 10 10 /, was substan-
italy equal. The excess OF silver pro-
ductlon over gold, was only $4,000, ,OOO
annually, against an excess OF gold
production over silver, during the
former period, of over s7S,00O,OOO AN
nually. The excess OF gold In the
former period, was 45 per cent. OF
each dollar. The excess OF silver In
the latter period, was only l 90 per
cent. OF each dollar.
With free coinage of both metals,
an excess of 81 1886, ,OOO, 900 gold produc-
tlon, In two decades, did not cause
gold 10 depreclate. With what rea-
son, then, can we say that an excess
Of silver production OF only $ss,OOO,-
600 In % years, is the cause OF the de-
cline of silvery
II an annual excess OF over 1900
900 OF gold did not send gold down,
how can we believe that an annual
excess OF only sI,OOO,OOO OF silver, is
sufficient TO account for the great de-
cline OF sIlyer9
II the production OF nearly - OF
gold 10 81 OF silver, did not produce a
decline OF gold, with what reason can
we assert that now, a production
OF ei.Os Of silver TO 81 OF gold, has