Marietta daily leader. (Marietta, Ohio) 1895-1906, 1897-10-26
THE FUTURE OF SILVER.
II Has outIived Its Usefulness ms Full
Money Metal.

It Hns outIived Its Usefulness ms Full
Money Metal.
| It 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 a 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 n larger
use of silver as money. The states of the
Latin union are so gorged with five
franc pieces that good authorities say it
is impossible to force any more into
circulation. In this country only about
coined can be kept afloat and in use as
money. 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 were stamped. Not
single nation that has abandoned the
free coinage of silver shows the least
disposition to retrace its steps.
The general consensus of enlightened
opinion all over the world is that silver
has outlived its usefulness as Il full
money install and will in. the future be
employed only as subsidiary coinage 1t
is too bulky and cumbersome and of too
uncertain valueto serve the larger needs
of the worlds commerce. To go back To
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 lay
politics aside and face the facts of the
situation. If your bank pays your 500
check in silver, you cannot get the mon
ey TO your store or Office without hiring
handcart. This kind. of money is not
fit for the large aud quick transactions
of modern business. 1t would be him
drance. not help, to the making of eX-
changes The world has outgrown II
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 purchaser of silver, and no other
country is at all likely to enter the |.
market as buyer. Silver mine own
ers will be fortunate if their product |
does not continue to decline until it !
reaches the lowest figure at which ii |
can be produced at the best mines, with |
a small margin of profit. There win be
no re1nonetization and no international |
agreement to put up the price-Sound |
Money.