Show GOLD STANDARD AND SILVER the new york financier seea a bright outlook for silver mining in considering the effect on silver of the gold standard it gays largely because ot the ment in panama of the gold standard for its currency similar action has been taken by the united states of colombia of which confederation panama was until recently a part the monetary unit ot colombia is to be the gold dollar of 1672 grams weight and fine while the coma are to be the double condor or the value of 20 the condor of 10 and tae halt condor ot 6 these coins corresponding with our double single ana halt eagles the silver coins will bo the halt dollar ot the value of 60 cents gold the peseta 20 and the real 10 cents and the ratio ot silver 0 o gold will be maintained at one to thirty three minting ot fractional coins of nickel copper or bronze of the lacues of from one to five cents Is provided tor to an amount not exceeding 3 per cent of the sum of gold coins in circulation provision Is made tor the treatment of the paper money issued by the national bank and the department governments ern ments as forced currency it beema probable that as tho result of this action by colombia and encouraged by the success which attended the of medicos cos currency the central and south american stales which have not already adopted the gold standard will soon daxe measures to this end and eventually all these countries will have s stable rate for exchange in the gold unit as the basis for their monetary systems promoting domestic and loreign commerce and contributing to their prosperity it may be of interest to consider what will be the effect upon the market for silver of ano prospective changes above noted in the monetary basis so far as the domestic currencies of these states aro concerned the change in thap basis from silver to gold need not result in the decreased consumption of silver for coinage purposes tor ane establishment of the ratio ot one to thirty three practically converts the old colna into subsidiary currency this maximum value of which for domestic and for exchange uses Is GO per cent that of gold with silver as the active medium of circulation the gold coins belofi i employed tor large transactions and for the adjustment of foreign trade balances there should be an increased demand tor the white metal correspond ing with ane augmented volume of business which may bo expected to result from the establishment of the gold currency basis there fore the more general me adoption of the gold standard by countries now using silver almost exclusively may be expected to enhance the demand for the white metal this appears to be the experience in this country for since the enactment of the law five years ago which established our gold basis the demand subsidiary silver has absorbed the stock on hand and made necessary the procurement of additional supplies in order to meet the urgent requirements of the country fur this kind of money after the establishment of the gold standard in the philippines and the reconstruction of the hawaiian monetary system the demand for silver coin was augmented and the supply en now is only barely sufficient tor business purposes the india council has been a constant purchaser of silver for tha past twelve years or since the of the rupee was established on the basis of gold china is making an attempt to increase her supply of cash through the unscientific method of coining a form of suan money of greater intrinsic value than the old copper cash this policy baa been adopted in response to the constantly growing demand for minor coin and it the plan shall fail as seems likely because ot the operation of the law through which an inferior coin forces out of circulation that of superior value such tail ure may lead to the reconstruction of cainas chinas currency upon a gold basis similar to that of japan or the philippines ip it would seem therefore that the silver mining interests of the country have little to fear from the changes which have been and will probably bo made in the basis 0 monetary systems |