Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1896-08-20

Sdllhfiilld anu Aurtfdlld. the average
of this metal produced from the mines
was 1874. 000.00). After that period,
commencing with 1871. it had grad
ually fallen to 100000. 600 in the
wears from 1881 70 1884. This de-
crease in the production of gold gave
the bimetallists people who favor the
use of two metals-as SILVER and gold
lin the currency of country at a
| fixed relative value; instance IS
ounces of silver equal ounce of gold)
al opportunity to spread abroad the
belief that very soon there would be
little or no gold produced from the
mines, consequently its scarcity would
so increase the price of gold-c cheaper
the products of farm and factory
that money famine would be inevita-
bic. Their fears were groundless.
Since 1888 the production of gold has
increased considerably. In 1894 it
exceeded $3.50, 900. 900. This produce
ton leaves far behind the average of
the great collaborating period of 1850
to 1870. A new age of gold is open
ing that will far eclipse that which
followed the California and Austral-
ian discoveries about 1850. for the
production is on the increase in all
countries, remarkably so in the United
States, Australia and Russia, while in
South Africa it is almost certain that
five billions of dollars in gold will
be mined in the next twenty years.
Alaska is opening gold mines that
promise to become prodigious and ex-
coed the production of any country
vet developed. America was discov-
cred in 1892 From that time to 1898.
four centuries. the production of gold
was only $4,000. 900, 900 eight billions
and six hundred millions). Now pause
and consider that the Transvaal alone
in the next twenty years will produce
five billions of dollars ($5. 900, 600. O00).
Another kind of token is that which
is used as subordinate or subsidiary
money, such as silver. nickel, copper,
and, in China, bone. shell and horn,
which has more or less of value in
itself. In the smaller transactions of
business this kind of money is used
because of its hardness and because it
is almost limitless. A dollar-a half
dollar-a five-cent piece of gold is so
small that it would be easily lost in
handling, so silver is preferred. Six
teen ounces of silver, American coin
standard of fineness-that is, nine
hundred parts of pure, silver to one
hundred alloy. at the rate of 4124
grains to the dollar (the weight of the
present STANDARD silver dollar). will
coin $500 in silver dollars. These
sixteen ounces OF silver can be bought
in the markets of the world to-day
for 1924. There would. therefore, be
profit of $500 on an investment of
1924, being about 81 per cent. if the
holder of silver ore or bullion could
take it to the mint and coin it with
out charge into silver dollars. In
Mexico an American dollar will buy
two silver dollars, so that if free coin
age becomes law the silver dollars
of Mexico will be brought to our minis
as bullion and coined into American
dollars and the enterprising '.bringer''
will reap profit of 80 cents on each
dollar-or more. as the Mexican dollar
contains more grains of silver than
the American One OF the largest
producers of silver is the United States.
In 1892 we produced fifty-eight mil
lion ounces of this metal, of coming
value of $74.995.442, and a market
value which to-day is less by ABOUT
one-half than the coming value. Com
pared with other industries of the
United States silver mining is trihing
affair. Although silver is in fact a
subsidiary money, it now has ficti-
tious value which makes it valuable
to the wealthy mine owner if he can
continue to force the government (you
and me- to purchase his whole supply.
Referring to printed monthly state
ment of the finances of the United
States complied by secretary of the
treasury Jno. q. Carlisle for the month
of July, 1895 we find that there is now
cash silver ON hand in the treasury
1914. 1865. divided as follows:
Dollars coined, 379, 852, 244; subsidiary
coin. 10, 1883; bars of silver.