The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1897-09-29
KLosDYKE GOLD DISCOVERIES.

gold discoveries upon the silver ques-
ton. As usual the goldites are say
ing some very foolish things. They
lain that it demonstrates the
abundance of gold and completely
overthrows the main argument of the
silver men that there is an insutflci-
ency OF the yellow metal for none
tary purposes. The goldites are
talking at random.
In the first place, no one knows
anything about the extent OF the
'6nd." The Klondike region may
yield s5,O0O,O0O, or s1oO,o0o,00O, or
s1,O00,OoO,o0O. 1t may last one year,
or FIVE, or hundred. There is scarce
ly doubt that the reports Of the
richness and extent of the deposits
are greatly exaggerated. They al
ways are. One thing is certain: Work
in the region must be conducted un-
der great disadvantages. The climate
is extremely rigorous, and the sea-
son during which mining operations
can be carried on is short. In this
respect it stands in marked contrast
to California, Australia, and South
Africa. OF course no one can say to
certainty, but the probabilities are
altogether against the klondike re-
gicn equaling any OF those named
above. But suppose it should. For
1000 years of civilization, in greater
or less degree, has existed among
men, and mining for the precious
metals has been prosecuted with all
human energy. Every additional
discovery, on large scale, has lifted
mankind higher and higher, both in
material prosperity and Intellectual
development. It can be safely af-
frmed that there never aas been
too much of either gold or silver and
that there never will be. The world
is constantly increasing in population,
immense nations, heretofore back
ward and semi-barbarous, are enter
ing upon an era Of industrial i'm
proyement which Will increase their
volume of business at an enormous
rate. This viii make necessary vastly
increased amounts of money for the
transaction of that business.
There is no practical limit to the
worlds capacity for the absorption
and use of gold and silver. Their
employment in the arts is rapidly in
creasing, and so long as they be free
ly used as money, there is an unlin-
tied demand for that purpose. OF
course the more there is of them in
proportion to other things, the lower
will be their exchange value-the
less they will buy, the higher prices
will be. But whether prices be high
or low, there is always demand for
money co-extensive with the demand
for all other things combined.
It is amusing to note the noisy
welcome with which the goldites
greet vast discoveries of the yellow
metal upon the theory that it will Kill
the 'silver craze" An immense pro,
duction of silver makes that metal
unfit for money; "debases" it, "de'
grades" it, and even makes it ''dis,
honest" A great discovery of gold
instead OF "debasing" and ''degrad,
ing" gold and making that metal 'dis,
honest" simply has the effect of max
ing silver still "baser,' more "de-
graded" and more dishonest" Truly
gold worship has great effect upon
the mind. This comes from imbib-
ing the "intrinsic value" idea Gf it is
worth being called an s'ideaO.
OF course, if the value of gold is
ssintrinsic," it can make no difference
with that metal whether there is
much or little of it. But let US wait
few years and watch the hlondlke.
Let the deposits there come any
.here near equaling some of the ez-
travagant estimates, and the financial
mountebanks who are now worship
ing at the shrine of gold will very
quickly find some other idol.
Our judgment is that the Klon-
dixie find" will have no perceptible
effect upon the silver issue either way.
It will take tremendous output to
ever keep pace with the worlds in
creasing demand for it and hold
prices where they now are, much less
! civ< fhom an upward tendency.
: a zen frequently stated in
;issa co1ans, the world needs both
as,as money. 1t must and will
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