The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-06-26
ooLo AND SILVER OUTPUT.
silver state shouters Are Not 80
yocfferous.

Silver ttMto tnt"t<H@ AH@ wv -
vocfferous.
The silver production In the United
States In 1895 was 55,S00,0o0 ounces.
Last year II was 57.700,ooo ounces, or
\ gain of three per cent. That was not
doing SO badly for dull times. AL
though the free coinage of silver Is not
permitted, the production of silver In
creases, because there is money in the
business.
The gold value of the 57.7oo.ooo
ounces mined in this country last year
was about 100000. On the basis of
the price of 1873, when silver was l29
cents an ounce, the years product
would have been worth $T4,0O0,OO0.
And yet, In spite of the decline In price,
the miners made money. If their BUSH
ness were Improbable they would
abandon It,
For, while the average price OF sill
yer during the year was only between
CT and 60 cents, IL cost the miners only
about half as much to put an ounce OF
silver on the market now as IL did
quarter OF a century ago. Machinery
Is cheaper and better. Wages are lower,
for the living expenses of miners have
been reduced SO much. The cost OF
transportation Is but trifle compared
with what il was. The steam car has
taken the place of the wagon.
So the owners of mines where the
ore contains n fair amount of silver have
nothing to complain of. The owners OF
the lean mines. which cannot be worked
AT n profit now, but which could be
II silver were worth 100 cents an ounce.
are the men who do the most grum-
bling. But they have companions In
misery. The owners of poor coal mines
and poor deposits OF iron ore, which
cannot be worked at profit because
of the competition of richer mines,
would like TO see a sharp advance in
the price of coal and iron ore. But they
do not clamor for the free coinage OF
coal and iron.
Whether the silver yield of 1897 will
be equal to that of 1896 is an open ques-
ton. Since the beginning of the year
the price of silver has been falling ana
il Is down now 10 60 cents an ounce.
That Is the lowest price 1t has ever
touched except during the momentary
sharp fall after the closing of the India
mints. III silver continues TO fall tho
production may be checked, unless that
decline in price is offset by reduced
cost of production.
That process Is going on slowly but
continuously. The methods OF treat
ing the ores are being cheapened and
improved on, and railroad charges,
which play so much more important n
part in silver mining than in gold min
ing, are dropping gradually. So 1t
would not be at all strange If more sill
YER were TO be mined this year than
last, in spite of the lower prices. The
output of last year was nearly equal
to that OF 1891, though the price then
was over 9S cents an ounce.
While the silver product increased
three per cent, the gold product in
creased 10 per cent. The value OF the
rold mined in the United States last
ear was $53,ooo,o0o, while in 1925 II
was SAC, 100000. In 1890 IL was $3s.ooo,'
900.
The gain would have been still great.
er but for the strikes which closed some
, of the Colorado mines. Utah produced
S020, 900 more gold than in 1895, and
Arizona 100000 more, and yet both OF
hem are shrielkigg for free silver.
I. . But they are not shrieking quite al
loudly as they were, and when thu
price Of silver falls still more, as II will
the absurdity of contending that an,
artificial device can make il worth i2'
, cents an ounce will be too palpable. The
4 a
. cheat creditors with will keep up thei
: clamor, but the silver miners will hav'
!, to admit that silver is down for good
. as che result of cheapened production
Chicago Tribune.