Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1897-07-10

Commenting upon the thriving condi- =
dition of our mineral industries, the St.
Louis Globe Democrat, in a recent issue,
says: One Of the best indications tha
the future prosperity Of this countryt
with good government is we'll assured,
is found in the statistics Of mineral pro-
duction for the year 1896. That period
was not one that would be looked to as
an average in promise, and yet the ex.
hibit is very favorable. Activity in
mining carries with it a large volume
Of other business and the figures of last
year are subject for congratulaton.
The total value of the metal and miner
al production of the year in the United
States is placed at $751; ,732,7S2, an in.
crease over 1895 of $lS,79I, ,264. This
increase is largely in gold and silver.
In gold the aggregate for 1896 rose to
SjS660, ,6S7, or l1,S3O,437 more than in
the preceding year. 1t is rather sur
prising that our output Of gold should
increase 20 per cent in single year.
The fact suggests great possibilities.
Ourimports ofgold last year exceeded the
exports by S46,0OO,00O, so that we began
the present year with $l04 100000 more
Of gold than we held twelve months
before. Our copper yield in 1896 was
467, ,S22,97 pounds, or Sl,350,00O pounds
more than in 1895. The demand for
this metal in the electrical field is rapid
ly increasing. Coal production fell off
! per cent in 1896. though the total
reached lS7 7,373,474 tons. AS measure
Of business depression that small de-
crease is in itself an encouragement,
and an assurance that the worst is over,
as we'll as that general industry has not
suffered as much as has been supposed.
The production of pig iron last year was
8,623, l27 long tons, or S2l ,S6l less than
in 1895. This was more serious de-
cline, yet it must be borne in mind that
the American production of pig iron
has doubled in fifteen years, and that it
is certain to resume its rapid upward
march. Last year the crops we're ex-
cellent and the mining industries cer-
tainly maintained themselves well under
adverse conditions. The yield of silver
deserves seperate mention on account
of the exceptional circumstances sur
rounding the metal in 1896 1t has been
asserted that silver could not stand like
the other metals on the basis of market
rates, and that the failure of free coin
age would mean the end of the silver
industry in this country. 1t is pleas
ure to say that the figures do not sustain
this view. More silver was mined
last year than during the year
before. In 1896 the silver product
was S76,099, ,236, and in 1895 it was
S72,05l 900, though the price has been
tending downward. Last years pro-
duction of silver was only S6,000,000 less
than that of 1892, when silver was worth
% cents more an ounce. Free coinage
would mean a profit of 100 per cent to
the producers Of silver bullion, and q
corresponding loss to all compelled to
accept debased dollar. Probably our
gold production this year will be twice
as large as in 1892, and the silver yield
will not fall off much. Silver is doing
very well on its merits as q metal among
other metals, and those who desire to
use it to represent fiction will iniurc
rather than aid its future.