The Meeker herald., 1916-05-13
Silver-Historically.

| Commenting on the recent sensa-
tional rise in the price of silver, Cap
tain James r. Smith, the Colorado
mining writer, says in Denver paper
of May 4th:
Without the assistance of favOring
Legislation or even fair play as COM
pared with gold-the white metal is
CALAMITY holding its 'place in the
sun" Yesterdays jump in London
and New York-the British capital
leading otf-was equal to 10 points in
one day-the best performance yet
since the present upward movement
set in March IA, 1916, when silver
closed in New York at Sc 5 cents per
ounce.
For yesterday-which means to-
days purchases at the smelters-the
closing price OF silver was 1925 cents
per ounce fine, the highest recorded
since June 20, 1893, when the London
and New York figure was II cents.
Thereafter 1t dropped at the rate of
2 and cents each day, rs the senti-
ment of the American congress be-
came fixed and known.
The official record furnishes the fol-
lowing data, given herewith in answer
to number of questions.
1856 Establishment of the double
stondard in the United States with
ratio of | to l5.25-meaning 375 "a
grains of fine silver for the dollar.
| l792-Adoptton of the ratio of | to
10, with free and gratuitous coinage
of silver at the mints.
Dissatisfaction Of the ralio of
to is for that Of to 10 in the United
States by reducing the weight of the
gold eagle $50 from 27O to 25s grains.
lS7I-Replacing the silver standard
In Germany by the gold standard.
lS73-Replacing of the double stan
dard by the gold standard in an act
for the government of the United
States minis. Jerome X. Chatfee rep
resented Colorado as delegate in con-
Rress This was II "sneak' act. Crea-
ton of trade dollar OF 42O grains of
silver, 800 fine.
ls7s-Congress, by the Bland-Alli-
son act, provided for the purchase
from time to time of silver bullion, at
the market price thereof, of not less
than ~, OOO, 600 worth per month, nor
more than a. OOO, 900 worth per month,
and its coinage into silver dollars of
Az 3 grains including alloy. Ratio lG
ltc1l.
lB7-United States In the month
of March, called In the trade dollars.
l88O-Repeal Of the Bland-Allison
act of February %, 1873. Mint bureau
authorized to purchase 100000
ounces OF silver each month, to be
paid for by the issue of silver certif-
Gates, redeemable in coin.
1893 Suspension of the coinage of
silver In British India. Panic in the
silver market in July in London and
New York. Congress in extra session
repeats the purchase clause in the act
Of July ii, 1890, known rs the Sher-
man act.
In 1915 the United States imported
silver worth &i,6s6,07s. 1t exported
silver worth 1882. 62l showing an ex-
cess in exports equal to 81, 925, 143. For
1915, in the two months ending Feb
ruary %, the exports of silver were
worth &9,578,573, while the imports
were worth "a, Al, 1855, mainly from
Cobalt. Excess in two months, So
10, 287.
fin int
ity: LAS usual, several causes seem
to be contributing to the rise In silver.
The demand from India has been bet
ter and there is reason to believe that
Chinese stocks are low and that there
will be little selling from that country
for time and perhaps some buying
The most direct cause Is found IN
large purchases for the British.
French and Russian mints. War con-
ditions have brought about an unus-
usl demand for silver coins, and the
mints OF the several countries are
busy supplying them. 1t seems pro-
bable that the coinage demand will
continue for some time. An increase
in the Indian shipments is also con-
fidently looked for"
lobe House of Meeker was in town
Wednesday afternoon and Agent
Wykes delivered to him Twoombly
car which is manufactured in Sharon,
Pa. Compared to the average make
of gas propelled vehicles the Twoom-
bly, is something Off freak and Mr..