The midland journal. (Rising Sun, Md.) 1885-1947, 1901-07-05
Gold and Silver.

year of 1899 was 81, o53, 400 for gold, and
$32, SIS, 700 for silver at its average CON-
uiercial value during the year. The gold
product was the greatest in the history of
the country, and greater than the esti-
mated product of 1858, the record year in
the working of the California p1acers.
Tie silver product OF the United States
being 54,764 900 ounces. The average
price of silver during the year, Oh the
London quotations was 90 cents an ounce.
The United States coinage value of silver
is 81. 2o an ounce, aud slightly higher in
Europe.
The worlds production Of gold in 1899
was of the value of $500, 5S4, 600. all in
crease OF $40, $50, 800 over the yield of
1893.
The worlds production of silver in 1899
was I67, 224,243 fine ounces. Mexico
leads, and Mexico aud the United States
produce two-thirds of the silver yield of
the world The worlds industrial coil
sumption Of gold is estimated at So, 65S,-
500, and Of silver $24,595, 600.
The impulse TO business has been gen
eral throughout the world. And it is the
history Of the world that when new dis
coveries of the precious metals have been
made, there has always been great up
lift to business and activity among the
worlds population. Commerce, the arts
and education have all felt the force of
| the money tide.
Large amounts of both gold and silver
are used up i'll the arts, and as the world
advances in higher civilization more of
it precious metals are used i'll jewelry and
other lines OF art.
Had the silver product been open 10
free coinage, as gold is, there would have
been added to the money OF the world
| S2I5, 700, 900, minus the amount consumed
i'll the arts, about $50, ooo. 900. The
United States and Mexico would have
been the great gamers, these two coun-
tries producing two-thirds of the world 5
silver. III place of the United States
proftiug by this bounty Of nature poured
into their lap the silver brokers Of London
are allowed to reap the rich harvest
| They handle the silver ont, put OF tile
world, and fix the price
| With the uudeniabIe evidence before us
that an increase Of the worlds money
gives a tidal upliit to every line of in
dustry, ii can be readily conceived what
tremendous impulse wonld have been
! felt if all the silver had been added 10 the
gold and set flowing in the channels OF
trade. The United States Of all the
countries Of the world would have felt
the greatest impulse to their industry.
Farmers particularly would have prohted
by the silver addition to the money
volume.
Silver is the peoples money. 1t is in
small denominations, circnlates among
the people, stays with them and is not
carried away to the great money centers
as gold is Had this silver which went 10
London as merchandise and from there to
Asiatic countries mostly, Leen coined into
money it would have had much greater
influence in increasing business activity
in this country than the same amount of
gold. which is the lavorite money of the
great city banks, which, are principally
concerned in financing large loans, and
in international business transactions.
Silver is the better money for country
banks because ii is best suited for small
or retail business, which comprises al
most the entire country trade. on which
country banks must mainly depend
| Business i'll every line in the country to
ne active requires large supply of money
of small denominations A limited guam
tity of this class Of money scrres TO keep
prices on low level which is largely liz
| favor of great trading firms and city
| banks. The smaller the outlay of money
required to purchase tie products Of the
country the greater the commissions and
profit of this middle class. Hence their
preference for gold, and objection to sill
yer money.
That class are alert and alive to their
selfish interest. but country people are
easily ,nised in business affairs. When
the silver fight was OH it was The interest
Of every farmer, country merchant and
laborer to have lined up for silver
The great bauking corporations now
have everything in their power and are
intimidating the government aud threat
eniug every interest that does not CON
form 10 their wishes
The Standard Oil monopoly is the
central power which is organizing a
500, 600, 900 bank in New York, lum.
inous account Of which is given by Bryan
in his C0WM0RSf Of June "a, in which
quotations are taken from the LH7eSt0r TO
demonstrate the fearful power of the
money octopus which is extending its
tentacies over this country, threatening
to revolutionize the Republic into all oil
garchy. This new world money power is
combining with the Rothschids and the
Bank Of England, and the ambition of
these money kings is to control not ONLY
the United States but The continent Of
Europe. Every person should read the
article in the Comm0ACr of June IA under
the caption Light in Darkness "