People's Pilot, Volume 3, Number 29, Rensselaer, Jasper County, 5 January 1894 — Silver Threads. [ARTICLE]

Silver Threads.

Herodotus says that Coesus was the first sovereign to make coins of gold. In the early years of this century there were thirty-three tons of silver to one of gold in circulation. Vermont and Connecticut coined coppers in 1785. New Jersey and Massachusetts did the same in 1780. The gold from California and Australia between 1848 and 1873 about doubled the metallic money of the world; but the increase of general prices was only about 18 per cent < An increase of the quantity of money would not improve its quality, but it might enhance the danger of its distribution among the masses, and that is what the gold-bugs fear. After supplying the arts the output of gold and silver available for coinage since silver was demonetized has not exceeded 30 per cent of the coin of the two metals which was on hand in 1873, which is a less per cent, than the growth of population.