The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1897-08-19

gentlemen, exaggeraung the dltti-
eulties of the task before us? Re-
member that ia order to restore silver
it is only necessary to absorb the
current product of the mines. The
accumulated stock Is in the shape
of coin bearing the stamp of various
governments, and il is absurd to
assume that the owners of such coin
will send it here simply to receive
the American stamp. Silver coin it
is and silver coin it would remain.
There is no surplus anywhere in the
shape of bullion, our treasure vaults
is constuctively coined and is re-
presented by silver certificates
and Treasury notes now in circula-
ton.
The current product of the mines
is now all absorbed in current uses
in the arts. in coinage, and for
other purposes. Any demand that
we create would be a new demand,
and would have a tendency to in
crease production. OF course no
man can foretell what the production
OF silver will be, but the test of tie
limitation of future, is the limitation
OF the past, and we all know that all
the silver coin in the world-the re-
suit of silver mining for ages-can
be put into cube of 66 feet. The
world has never produced enough
of metallic money. The fact that
to-day over one-fourth of the money
of the world is uncovered paper
money proves this.
INCREASED USE OF SILVER.
Now, what increased use can you
suggest for silver in this country
that will increase the value of the
product of the mines? Our per
capita circulation is currently stated
to be $22 to $25. Our population is
increasing at the rate of over 2,000,-
900 year. 1t would take between
$50, 100000 and $50, 1000, 900 a year
TO maintain the present per capita Sc
long as the population increased at
that rate. But is a per capita
circulation of $25 sufficient? Such
a per capita circulation might be
sufficient for creditor nation like
England, whose area is limited,
whose population is dense, whose
exchanges are easy ,and whose ability
to increase her coin reserves is made
easy by the great debt owing to her
people. But certainly it is not suf-
hcient in a vast debtor country like
this, with its immense area, its scat
tered population, and its limited
methods of exchange. If we should
increase our per capita to $50, we
would have to coin $40, 900, 900 {
year for five years.
Besides, our national bank cir.
culation has been gradually contract
ing is bound to be withdrawn alto
gether when the blllnce of trlde is
restored in our favor by good prices
for our products and the surplus o
revenue is applied to the nationa
debt. 1t will lake $40, 900, 90 yea
: for five years to take the place of tn
l national bank notes, so that we hav
here an increased demand for silve
t of nearly 5000, 900, 900 in this coun
: try, without any initiation or expan
5 sion beyond a per capita of $50
C This demand is equal to the entir
g current product of the mines, whic
e is already exhausted in current use
0 Can any man say that new deman
: of such magnitude shall not restor
: the old parity? And if the old parit
e is restored, will not this talk abo,
It 50-cents dollars and debased Gu
: rency entirely cease? The gol
e monometallists propose to mainta
o this parity by the redemption ofsilv'
it in gold We propose the rightf
y method of restoring parity by incr
l. asing the value of silver, and by +
storing its time-honored use
J. money of redemption equally wi
e. gold.
rs SILVER PRODUCTION EASILY CoNTRoLLE
&c But suppose the fears of our alarl
le ist friends are realized ,and that nj
le ure, instead of exposing her silver Il
~ asures as she has done in the pa
d gradually and progressively to m,
lie the wants of the world for none
er should expose it in large abundan
n is not this a matter of easy contr
n Recollect that silver mines alrea
l. existing will soon be exhausted. I
p, Comstock lode in my own Sta
he which ARMED all Europe, is now
y. duced in its production to 5000
We per annum. The mines of the futr
On are in ungranted mineral land of {
o. country and Mexico, for remem
It. that Mexico and the United Sta
OF produce two thirds of the silver
on the world. Will it not be easy to Ii
M those grants, either by exact
eir royalty or by total withdrawal,
I'VE that the silver stores of the fut
ed. may not be unduly draws upon
is present, and the calm and equal |
rid duction of silver commensurate "
old its use may be established and SEE