The times., 1898-01-31
SILVER STATISTICS.


Last week there We're presented
some facts in regard to the production
! and use of gold in 1896, taken from the
report of the director OF the United
States Mint for 1897 This week is pre-
sented like statistics in regard to sill
YER for the same year. taken from the
same report.
The worlds production Of silver in
/ 1896 is reported to have been s2l5. 49,, 700.
/ United States coinage value. There
was coined S153. .S95. .74O. the recoiHages
being $24. .901. .2S7. making the amount
coined from the stock Of silver, other
I than old and foreign coins. lZS.494 49;;.
There was used in the arts $3S. $50 1S4,
making the amount used in the arts
and coined S16T,074 637. In addition TO
this amount the several countries
mentioned below. which produce little
or no silver, have retained the amounts
stated. These are over and above the
sums used by them fer coinage or in
the arts: India. So 160 800: Japan. so
165.4S1; France. S5.6l1 .64f; Russia. So
S62 6i4: Siam. 81 POI .Sl5: China, 81 .393.-
$50; Great Britain, S2.Z00.5IS. making
the total amount Of silver used S212,-
s76.6S9. which nearly equals the pro-
ductiOn.
in the same year. in thirty-one coun-
tries amounted to $219. .970.597, and the
decrease in four countries. 81 .G69 4I0.
making the net increase in the stock
of silver in the countries reported by
the Mint. s2ls. .90l .lZ7. being over five
millions more than the amount pro-
duced.
This report shows. as the previous
reports also show, that. as large as the
production of silver has grown TO be.
the demand is equal To the supply IT
under the conditions prevailing during
the last ten years all the silver pro-
dueed is used. all that would he pro-
dUced under the stimulus % iree COIN
age would be used without injury to
any interest and to the advantage OF
all The demand for silver is increased
by the shortage of gold. The free and
unlimited coinage of silver would cause
an increased amount of business to be
done and thus give employment for
all the money, silver and gold. that
could or would be coined 5nder this
policy.
Silver has declined in price, the Di-
rector of our Mint says because its
production has so largely increased
That no Misrepresentation may be
made in condensing the rickety argu-
ment by which this statement is main
tanned, the Directors words are quoted
After citing the great increase in the
production of silver, he saws: This
formidable increase of production is
the main and all-sufficient reason for
the extraordinary decline in silver since
ISL" In this conclusion he is clearly
mistaken. II the price of silver de-
creased on account of its large prCduc-
ton. the price of gold would have de
creased for the same reason. Begin
ming with 1879. there has been S3.1T9.-
. sU.=e.. e fsHft
100 Of gold. The silver produced was but
little over per cent more than
the amount of gold produced in the.
same time. yet the purchasing power
OF gold has been increased largely and
the price Of silver fallen nearly one,
half in the markets of the world The
decline in the price of silver is due to
the adverse action of governments in
regard to il. This is proven by the
fact that every act unfriendly to
silver by the governments of the
world has been followed by a decline
in it's price.
1t is impossible that the production
Of either gold or silver can continue To
increase as it has done in the past
twenty-five years. The temperate re-
giOns of the world are so we'll knowa
that il cannot be expected that the
production of the precious metals viii
increase as fast hereafter as the pop
ulatiOn of the world shall increase
What may result from the prospecting
Of the cold and warm regions of the
earth cannot be predicted with any
Mining in these regions
must always be very dangerous to life
and health. 1t would be unwise to ex-
pect that the placers containing gold
would be more extensive or richer in
those regions than those which have
been found in more temperate regions.
and which have been exhausted As
population and business increase
there will be greater demand for mon
~. and it is not improbable that both
gold and silver will fall short of sup
plying what is necessary. The worlds
progress may be hindered for a time
)y artificial schemes e corner the pro-
iuctiOn of money material and cut
short the supply, but human ingenuity
will get around them or the pressure
# necessity destroy them. As we'll to
ry to prevent a body of hungry men
rom obtaining food when it is within
heir view, as to prevent people having
necessary amount of money for any
,reat length of time. 1t would be well
or pOssessors of debts due from other
people 70 remember this fact.
H. NJ BEADLE