Show THE EXPLODED THEORY The demonstrations experience and the pressure of facts have finally exploded ex-ploded the absurd theory that the production pro-duction of one or both of the precious metals was inexcess of the requirements require-ments of the age This was mans blunder Nature well performed duty Man failed to take advantage of the apparent opportunity He has refused to accept the bountiful gift proSeredby Natures broad and open hand Nature Is the universal mother idnd vigilant and discriminating She will nev give more than is necessary neces-sary or withhold her hand in her chil drens need With both gold and silver she ministers to thp worlds necessities it is the worlds fault if it feels the heavy hand of poverty The course of the worlds blunder is easily traced It is the trackofaWbrlds misery First in California gold was cast down while silver Was enhanced in value Then came the great silver discoveries The Comstock mines were to flood the world with silver Therefore silver was worthless worth-less Gold alone had the necessary scarcity to make it valuable The silver dollar was retired by the United States j Germany demonetized the white metal France suspended the monetary law and then followed the collapse Man usurped the functions of Nature and Nature revenged herself Man had rejected re-jected half of Natures bountiful gift for his comfort and happiness and he paid the penalty sharp and sudden And what reason had man for his suicidal action Let us see An eminent financial authority gives the following facts and figures From 1304 to 1884 the production of the precious metals in the United States wasgold 1076914670 silver 669683 217 j equivalent to 20961433 gold per annum for a term of eighty years and equivalent to 8391040 silver per annum an-num for a term of eighty years Now in 1804 if any ordinary man had been forwarned of the remarkable increase in-crease in the product of gold and silver in 1884 he would have naturally considered con-sidered it excessive He could not have foreseen that in 1884 the consumption of precious metals in the arts in one country alone the United States would be gold 14500000 silver 5500000 or over twothirds of the entire annual gold product of the greatest goldproducing country in the world and oneseventh of the entire annual product of the world The entire annual product by the world of precious metals is given as follows Gold 1881 103029078 II 1882 98699588 1883 9i027901 In all 295750567 equal to 98583 522 pec annum Silver 1881 102103354 II 1882 109 952 251 II 1883 114217733 In all 326333438 equal to 108799 462 per annum The entire annual consumption by the world of precious metals in the arts is given at Gold 59327310 Silver i eo 18800000 In all 78127340 per annum These figures having been derived from different sources compiled by various authorities they do not entirely agree but it is a proof of the exactitude of the estimates in the main that the highest authorities some of them so far apart should reach such approximate conclusions from different stand points Since we have gone into figures it may prove of interest to give in detail the annual consumption of gold and silver sil-ver in the art by the principal nations of tho world It estimated as follows GOLD SILVEK United States Baroh ard 13000000 4000000 England several authorities au-thorities 11500000 3000000 France Dnmas 8600000 2800000 Germany Soetbeer 8200000 3000000 Switzerland Lardy 0600000 1000000 Austro Hungary Ni baner 1927310 1000000 i Other countries Soet i beer 9500000 4000000 i From these amounts it is estimated that 20 per cent should be deducted for I old material used over and we are warrned that there is a tendency to exaggeration I ex-aggeration in the estimates On the other hand it certain that the methods of inquiry adopted vizr by addressing I letters to manufacturers cannot have I been exhaustive Thus in 1879 the 1 replies re-plies indicated a consumption of only 7000000 in the United States In 1SSQ stricter inquiry raised it to 8600000 in 1881 to 10000000 in 18S4 to 14SOO 000 and BO on It is therefore pretty clear that the consumption in the arts is underestimated and overestimated Moreover to this source demand should be added the enormous loss sustained annually by shipwreck fire the concealment conceal-ment of treasure never recovered etc The world needs both the precious i metals Nature has provided both gold I and utilized silver That provision must be < > I r |