The age-herald., 1898-11-25
The Walcott Commission

The Walcott Commission
 Reviewing the efforts of the wolcott in-
 ternational blmetaIlic commission. the di-
 rector says that the sentiment in favor of 1 bfmetallic monetary standard, supported | by international agreement, had found ex-
 pression not only by the legislative bodies of France and Germany, but of Great Brit
 ain. and it had, therefore, seemed oppor- tune that a conference should be held with | a view to ascertaining what concerted ae- | tion might be agreed upon.
 Mr Roberts adds: "A single nation, act | ing alone, is certain to lose the dearer metal
 entirely and retain only the cheaper as it's
 standard. Thus for any country under l present conditions to open It's hints to the
 unrestricted coinage of both gold and silver l at 16 to l, or any thereabout ratio, would | force 1t to lose what gold 1t possessed, be- | cause that metal would surely go where 1t
 rated higher. If, however, there was no | country in the world where it was legally
 rated higher there would be no place to 1 which 1t might go.
 Although the efforts of the commission
 were brought to an end by the refusal of | the governments to join in the movement | direct we consider the failure indirectly due | to the growing feeling that the rapidly in- | creasing product of gold has radically | changed the situation from what it was ten | years ago. when the gold product seemed I to be at standstill. or decliniHg. It has l changed to indifference or opposition, the
 attitude of many who then feared an appre- | ciating standard, but who. are quite as | much opposed to deprecating one" 1 Great as was the worlds production of l gold in 1S97,'' continues the director. amounting to the value of $237 504,S 800, and
 exceeding that of 1896 by $34,S22 800, 1t is, | Judging by the returns already at hand, | certain that the product of 1898 will be still l greater.
 "11>e returns from South Africa for ten
 months show that with the present rate l of production its yield will exceed the yield ] of 1897 by $21 ,S12,000. The returns from Aus l tralia indicate that it's product in 1898 will exceed the product of 1897 by $l0,335, ,00O. i Receipts of Gold
 "From July 15 to November 15 the re- | ceipts of gold at Seattle and San Francisco
 from the Canadian Yukon aggregated above 1 BIO 00O 900, and on this basis the increased | production for Canada in 1898 is estimated 1 at $S ,500, ,000 The increase in the United | States can hardly fall below $5,0O0,0O0 The total of these estimates is $45 6S7 ,000, which, 1 added to the figures of 1897, would indicate l a worlds production in 1898 of $2S3, ,192 800 if
 the remaining countries in their aggregate l are unchanged. The product of 1891, $780, 1 000,00O will be more than doubled, and the 1 combined value of the gold and silver prod | uct ten years ago exceeded by gold alone. Stocks of gold in sight in European l banks and government treasuries from De- | cember, 1892, to December 1897, increased
 about 1000, or over 40 per cent. The | stock of gold in the United States increased | in the five years $95, ,457 900. The increase in | the gold holdings of the banks of Australia, | Canada and South America was about $15,- | 000000 The total gold thus accounted for l is $960, 400, ,000.' 1ss6s.ssS