New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-10-27
SILVER AND SOUTH AFRICA.

The gold supply Of the world is to be some
what diminished for time. evidently. by the
war in South Africa. British estimates that the
war may be ended before March are not i'm
sprobable in view Of the force going forward. but
there would still be something like third Of the
years output in that region cut of by war even
If industry should be rapidly restored 1t pleases
sundry monetary cranks TO urge that this de-
sCllne in the supply Of one Of the money metals
must have a serious influence upon prices. but
1.-THE suggestion is absurd The worlds buying
an any year Is done not with the gold that year
Rroduces, but with the entire stock In monetary
else throughout the world. The notion that the
.buyng power Of about $1,000, 100000 Of gold In
alse will he perceptibly affected by palpably
Temporary decrease Of $50, 900 more or less
On the years production is too foolish even for
silver crank
Neither is there anything to warrant the sup
position that the demand for gold will be greatly
! Increased by the war; 1t is not as If great and
Awidely separated nations were engaged in con-
rtiict. London and London agents at the Cape
will settle the whole business by their
changes for the Beers are effectually shut ont
from foreign trade and the British settlements
twill be by the use Of banking credits rather
!than COIN What Great Britain has to buy In
rOther countries on account OF Wharf.-The am
muniton from Connecticut, the packed meats
from Chicago and the wheat from Dakota-will
ibe paid for In exchange between London and
;New-York, tending only TO create larger bal
ance in favor Of the United States The appre-
shension that enormous British investments In
iEouth African mines would be affected as to
fbreak the whole market for securities was
quickly met when the war began by the dis
closure that 1t produced fresh confidence. men
holding that such investments would before long
sbe rendered more valuable than they ever could
.have been with the mining region under control
pf the Beers.
1t Is a bad year for the silver advocates In
any aspect Mr.. Bryan and some others con-
tinue to argue for free coinage. but in such a
half hearted fashion TO show that they aim
only 10 hold as many as they can Of the voters
who have been fanatics on that issue, knowing
THAT they have little chance to gain this year by
urging II. Everything that they predicted In
1896 and again In 1898 has refused to material
'1ze. The country has not gone TO the dogs bust
mess has not been Frustrated. labor has not seen
wages reduced the West and South have not
been pinched and pundered by the money lend
ing States OF the East. Wages have never before
ioeen 30 high, IN any metallic currency, as they
,are now, nor so high In proportion to the cost of
living. Prices have. indeed, risen this year about
.i2h per cent In this country, but In products for
individual or family use very little and far less
Than the general advance In wages, twothirds
OF the aggregate rise having been In articles re-
Toured for the extension Of the manufacturing
,or transporting facilities Of the country The
West aud the South have never been richer OF
more independent Of the East than they are
now. and the lending Of money By Western