The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-10-25
BRIGHT OUTLOOK FOR SILVER.

Denver News-)
The highest quotation since Dec 80,
1896 in London. and the highest in New
York since Jan. 26, 1897. This is yester-
days cheering record in the market Tor
bar silver The figure reached in Lon
don was equivalent TO 65.l8 cents in
American money, while the Inquire
marked up by Hardy & Harmon, the
New York agents Of the smelter trust
was $40 cents-five and one-half mar
ket points in rear of the London quota
ton. 1t is thus that the value Of N
American product is discounted and
discouraged on American soil. in order
that London money agents and the gov
ernments of India and Europe may con-
tinue to reap a profit of So per cent from
the coinage of our silver bars.
The reason for the gain Of two points
over Saturday is clearly given in
London telegram, dated Oct. 20, which
quotes the London Statist to this eff
1ect:
The Statist gathers that statistics
show India, during the year ending
Sept. 1, absorbed 60,000G00 ounces of sill
ver-50, 600 600 ounces for coinage and
10,O0O,00 for ornaments. This, the Sta
list says, is nearly 30 per cent of the
worlds production, and the paper pre-
diets that the Indian government viii
be { constant and large buyer of sill
In Ne. as shown by the revised edi-
ton of Mineral Industry, the prOduc-
ton of silver in the United States was
81, 126, S34 ounces troy. worth at the mar
ket quotation s34, O36. 16S, compared with
So. 755, 032 ounces in 1898, worth $50, 065,-
4S2 in the bullion markets. Hence it is
seen that India alone-with her mints
closed to the public, but operated &C
lively for government profit and on
government account-consumed more
silver in the year ending Aug. 81, 1900,
| by some 100000 ounces than was pro-
duced in the United States from United
States ores during 1899 or 1898.
And yet India is not the only buyer of
| bar silver in the London market. From
| Jan. to Sept. q. 1900, the gain in ship
mentS of silver from London to India,
compared with 1899. figured 81, 576,910,
while the gain in shipments from the
same market to China, compared also
| with 1899, seached 81, S3S, 515. If we add
| the gain of $40 per cent in San Francis
| co shipments for nine months of this
year, compared with a like period in
| 1899, we can estimate the value of the
! following special to the New York
I Evening Post, under date of Saturday
| last:
Silver was strong on the short set
| Elements, the RussO-China and general
| speculative demands. Money was
| scarce
| The per capita circulation of India,
| including S47, 400, 600 in uncovered paper.
| is but $207, while the per capita circu-
/ latiOn of China is but $l.96. When this
| avalanche melts" there will be such a
! call for silver-the favOrite currency of
| these zoo, 00O, 600 of people-that the co.
| 100000 ounces shipped TO India from
| London since Sept. l, 1899, will figure
| merely as an item, as a fOTerunner of
| the demand, that must exceed the ut
/ most capacity of the United States,
I Australian and Mexican mines, which,
! counted as a unit. produced but 122, OCo,-
| 600 ounces in 1S99-or about one-siXth
| of an ounce per capita for the estimat-
| ed populations of China and India.
Let the men and women who are loyal
! to the west take heart. Let them re-
/ member the recent declaration of Will
! liam ]. Bryan at Ann Arbor: Il FA-
VOR THE FREE AND UNLIMITED
| COINAGE OF SILVER WITHOUT
WAITING FOR THE CONSENT OF
| ANY OTHER NATION and roll up q
| majority on Nov. 6.
] The attempt to force the gold stand
ard on India has failed, and silver is
pouring into that country in RESPONSE
| to the demands Of the people. The ar.
| gument that free coinage would bring
] a food of silver to this country thus
| falls absolutely TO the ground, and
many conservative persons who have
| feared disturbance of business FIND
their objections removed.
! THE TIME is RIPE FOR A FREE
| COINAGE PRESIDENT AND CON.
| GRESS, AND 1T is THE WEST0s
BUSINESS TO DO ALL IN IT'S POW
Err TO ELECT THEM.