Rensselaer Republican, Volume 27, Number 48, Rensselaer, Jasper County, 6 August 1896 — Vast Output of Cheap silver. [ARTICLE]

Vast Output of Cheap silver.

The last report of the Director of the Mint contains a table giving the silver coinage of the mints of the work! for the years 18731894, inclusive. The total number of ounces was 2,132 millions. The coinage value was 2,756 millions. This vast sum of silver bullion was coined during the twenty-two years subsequent to the crime of ‘73’. . Never was there as much coined during any preceding twenty-two year period; and yet, in spite of this enormous consumption for monetary pur-

poses, the com mer ical value of sjl ver hept on, falling during -the whole peroid. That/ is not so surprising in the light of the figures showing the enormously increased production of silver. The total output qf the world for the twenty-two years was 2,130 millions of ounces. For the last seven years the production was 979 million ounces, as against 1,151 million in the fifteen preceding years. The number of ounces coined during 1888-1894 was 747 millions. That was heavy, but the price of silver was not enhanced. The experiment of adding to the value of silver by coining it has been tried on a grand scale and, has failed utterly. An ounce of silver weighs 480 grains, while a silver dollar contains 371| grains of pure silver. An ounce therefore equals about 130 cents. During the three years the Sherman act, purchasing 4,500,000 onces of silver per month, was in force, $5,850,000 of silver certificates were issued monthly.