San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1897-11-18
THE FUTURE OF SILVER.
It Has pntiived It's Usefulness as Full
Money Metal.

/ money hetai.
1t must be admitted ON all hands that
the future of silver looks very dark.
The price is now so low that the metal
in silver dollar is worth only 43 cents.
! Yet the mines in this country and Mex
leo continue their activity. In most of
them the ore is galena silver, and the
recent rise in the price Of lead compen-
safes largely for the fall in the other
metal. Indeed there are many mines
where it pays to mine and smelt the
ore for the lead alone, so that whatever
is obtained for the silver is clear profit.
Thus there seems to be no probability
that there will be rise in the price of
silver occasioned by heavy falling off
in the total production.
In the meantime there appears to be
not the slightest probability of an in
crease in price growing out of larger
use of silver as money. The states of the
Latin union are so gorged with franc
pieces that good authorities say it is
impossible to force any more into circu-
lation. In this counIy only about one
ninth of the silver dollars we have coin
ed can be kept afoat ard in use as mon
ey. All the rest are stacked up in the
treasury and are, therefore, of no more
use or value than was the bullion from
which they We're stamped. Not a single
nation that has abandoned the free coin
age Of silver shows the least disposition
to retrace its steps.
The general consensus OF enlightened
opinion all ever the world is that silver
has outlived It's usefulness rs d full
money metal and will III the future be
employed only rs subsidiary coinage. It
is too bulky and cumbersome and Of too
uncertain value to serve the larger needs
of the world $ commerce. To go back 10
silver coin for the settlement Of trade
balances would be as stupid as to aban-
don railroad transportation and return
to carts and wagons.
The silver men would be wise to l&y
politics aside and face the facts Of the
situation. If your bank pays your 500
check in silver you cannot get the men
ey to your store or Office without hiring
a handcart. This kind Of money is not
fit for the large and quick transactions
of modern business. 1t would be him
drancc, not help, to the making of eX-
changes. The world has oEtSTown it
and got beyond it, and no clamor Of the
politicians Will avail to restore it to its
old place as money Of ultimate re-
demption. The silver men, in keeping
up their agitation, are only kicking
against the solid wall Of the worlds
combined common sense.
We shall continue to use silver for
half dollars, quarters and dimes, be-
cause it is the best material for these
small coins, but for this purpose we
have silver bullion and silver dollars in
the treasury sufficient to last for 500
years. The government will not again
be a purchaser of silver, and no other
country is at all likely to enter the
market as a buyer. Silver mine own
ers will be fortunate if their product
does not continue to decline until it
reaches the lowest figure at which it
can be produced at the best mines with
a small margin of profit. There will be
no remonetization and no international
agreement to put up the price.
Money.