Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-09-18
Movement of Silver.

According to the reports of the
treasury department., the silver pro-
duction of the United States in 1894
was 40, 500, 900 ounces. After allow
ing for foreign coin and bullion and
silver in ores imported into this coun-
try, the net export of silver during
that year was about 40 1000, 900 ounc-
es. The amount of silver used in the
United States in manufactures and
the arts is placed by the director of
the mint at about S,417, 500 for the
same year. These two items-the
net silver exports and the quantity
used in trade-equal about so, 500. 900
ounces, or 1000, 900 ounces more than
the total production. In addition,
the United States mint consumed
about 1850, 900 ounces in coinage.
The figures for 1896 give nearly ic en-
tical results, the production being
slightly increased, the net exports ri
sing to, roundly, A, 600, 900 ounces
and the quantity used for coinage to
a little under 5000, 900 ounces. The
demand for silver in the United
States is therefore, greater than the
supply, and the stock of bullion on
hand is being trenched upon.
The imports of silver are almost ex-
clusively from Mexico. The exports
are mainly to England. The exports
to England during the twelve months
ending June, 1895, were nearly 3d. 0O,-
900 ounces. During the twelve
months ending Jund, 1896, they were
close to so, 1000, 900 ounces. If we go
no further into the effect of the fall of
the gold price of silver than to con-
slider the return obtained from this
export, we find that England pays
over $50, 900, 900 in gold a year less
to this country for the silver it gets
here than it would pay if silver had
not been dcmone tjzed. This annual
saving effected by England is equiva-
lent to 4 per cent on 1876, 0OO, 1000. On
shipment of silver alone, England
thussgains from the characterization of
silver as much each year as though
congress had presented to the British
money-owners as a free gift a block
of $s75.000, 900 of American 4-per cent
bonds.
But American silver has not served
the full purpose of the British gov
eminent when bought for half
price. 1t is shipped to the far East
where it still passes current at the
old rate, and cotton, wheat and 9th.
er products are bought with it. They
are sent to Liverpool and sold, in
terms of gold, for half what they
would bring in terms of silver, and
the American farmer is compelled
to meet this ruinous half priced com
petition. He must get his gold price
down to the gold price
which gives a big return to the Indi-
an, or the Chinese, who can change
each 81 of gold obtained in Liverpool
for silver which is the equivalent of
So with him at home.
There is thus an endless chain in
the worlds commerce, as we'll as in
the operations of the United States
treasury. Cheap American silver
buys Oriental produce, which is sold
for gold, and with the gold or its
equivalent more cheap silver is
bought. which buys more Eastern
products, and SO on without end.
Cheap American silver Is thus being
used by British manipulators to
beat the life out of the American far
mer in a double degree. He suffers
not only from the fall in values,
measured n gold, but also from Asia
tic competition, which has an advan-
tage of 100 per cent difference in ex
change.-Rocky Mountain Ne We.