| Show The Money Metals I According to the report of the Directors of the Mint for 1892 the great clatter raised by the goldites about the increase in silver sil-ver production has only been for effect upon the financial world and has really I been without reasonable excuse The product of silver in the United States for 1 II I I I the year was 58000000ounces afallingoff 330000 ounces from the total of the preceding pre-ceding year instead of an increase The government purchased 54129827 fine ounces at an average pricu of 87 cents Ian I-an ounce i But the gold product of the country I kept up to the average that isabout 33 000000 There was an increase in the gold product oft the world of more than 12003000 in the year 1892 coming chiefly from South Africa and Australia The increase of silver in the world for the year from the Mexican and Australian mines was about 650000 ounces which at the rate paid by the government would make its value 56S 750 Contrast that with the f2000000 I increase in the gold product and where is the room for the complaint about the increase of silver The depreciation in silver is caused not by any excessive production of the white metal but by its demonetization That fact is yearly made more and more apparent ap-parent Place it where it belongs aud it would hold its own bythe side of the yellow yel-low god which the financiers worship It I is known that there is not enough gold in the world as a basis for anything that maybe I j may-be put into circulation as money and the retention of the single standard is only profitable to a very few of the earths inhabitants in-habitants who speculate on the needs of the rest of mankind |
