The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-11-25

bimetallio monetary standard, supported by
international agreement, has found expression
ana Germany, but of Great Britain and It
mao: therefore, seemed opportune that a
conference should be held with view to
ascertaining what concerted action might he
agreed upon. Mr.. Roberts adds
SILVER COINAGE DECRIED.
"a single nation acting alone. is certain
to lose the dearer metal entirely, and re-
tain only the cheaper as its standard. Thus,
in any country, under present conditions, to
open its minis to the unrestricted coinage of
4oth gold and silver, at Is to l, or any
thereabout ratio. would be for It to lose
what gold It possessed, because that metal
would surely so where II was rated higher
II. therefore, there was no country In the
there would be no place to which It might
90 Tor monetary use. Allowing that the
ratio originally agreed to was approximately
the market ratio, the valuation thus coincd-
Ing with the judgment OF the commercial
world, there seems every reason to believe
that SUCH an International agreement would
accomplish its purpose"
Although the efforts of the commission were
brought to an end by the refusal of the gov
eminent OF India to join the movement the
director considers the failure Indirectly due
to growing feeling that the rapidly increas-
ing product of gold has radically changed
the situation from what 1t was ten years ago,
when the gold product seemed to be at a
standstill, or declining It has changed to
indifference or opposition the attitude of
many who then feared an apprecis ting stand
ard. but who are quite as much opposed to
depreciating one.
WORLDS GOLD PRODUCTION.
Great as was the worlds production of
gold in 1897" continues the director. amount.
ing to the value Of S257, 504 500 and exceed
Ing that OF 1896 by S34 So, 500. it is, judging
by the returns already at hand certain that
the product of 1888 VIII be sill greater. The
returns from South Africa for ten months
show that at the present rate OF production
its yield will exceed the Yield OF 1897 BY
81, So, eco. The returns from Australia indi-
cate that its product in 1898 Will exceed the
product OF 1897 by SIC, 3S5, coo. From July Is
last to Nov. Is the receipts of gold at Sc
attic and San Francisco from the Canadian
Yukon aggregated about $780, coo, and on
this basis the increased production for Can
ada in 1898 is estimated at S. 800 900 Thu
increase in the United States can hardly fall
below S. 600. The total Of these estimates
is s45, 6s7 coo. which, added to the figure Of
1897, would Indicate q worlds product in
1898 Of $2S3, 1872, 500 II the remaining countries
IN their aggregate are unchanged. The pro-
duct OF 1881, $3.50 000, 090 will be more than
doubled, and the combined value OF the
gold and silver product ten years ago ex-
ceeded by gold alone
Stocks of gold in sight In European banks
and government treasures from December,
1892, to December, 1897 Increased about
of gold in the United States Increased In
the five years s95 457, 0O0. The increase in
the gold holdings of the banks Of Australia,
Canada and South America were about
Sl5, Ooo, 900. Total gold thus accounted for,
$500 450 co.,