Money: Speech of Hon. John P. Jones, of Nevada, on the Free Coinage of Silver; in the United States Senate, May 12 and 13, 1890Jones, John P. (John Percival)
History
Money: Speech of Hon. John P. Jones, of Nevada, on the Free Coinage of Silver; in the United States Senate, May 12 and 13, 1890
Jones, John P. (John Percival)
Silver question -- Speeches in Congress
----------+---------------+-------------------------------------------
| Gold. | Silver.
Calendar +---------------+--------------+--------------+-------------
years. | | Fine | Market | Coining
| Value. | ounces. | value. | value.
----------+---------------+--------------+--------------+-------------
1873 | $96,200,000 | 63,267,000 | $82,120,000 | $81,800,000
1874 | 90,750,000 | 55,300,000 | 70,673,000 | 71,500,000
1875 | 97,500,000 | 62,263,000 | 77,578,000 | 80,500,000
1876 | 103,700 000 | 67,753,000 | 78,322,000 | 87,600,000
1877 | 114,000,000 | 62,648,000 | 75,240,000 | 81,000,000
1878 | 119,000,000 | 73,476,000 | 84,644,000 | 95,000,000
1879 | 109,000,000 | 74,250,000 | 83,383,000 | 96,000,000
1880 | 106,500,000 | 74,791,000 | 85,636,000 | 96,700,000
1881 | 103,000,000 | 78,890,000 | 89,777,000 | 102,000,000
1882 | 102,000,000 | 86,470,000 | 98,230,000 | 111,800,000
1883 | 95,400,000 | 89,177,000 | 98,986,000 | 115,300,000
1884 | 101,700,000 | 81,597,000 | 90,817,000 | 105,500,000
1885 | 108,400,000 | 91,652,000 | 97,564,000 | 118,500,000
1886 | 106,000,000 | 93,276,000 | 92,772,000 | 120,600,000
1887 | 105,300,000 | 96,189,000 | 94,265,000 | 124,366,000
1888 | 109,900,000 | 109,911,000 | 103,316,000 | 142,107,000
1889 | 118,800,000 | 125,830,000 | 117,651,000 | 162,690,000
----------+---------------+--------------+--------------+-------------
From this table it will be seen that from 1801 to 1820 the average
yearly yield of gold was $9,710,500; of silver, $36,847,500--four of
silver to one of gold.
From 1821 to 1840 the average yearly yield of gold was $11,466,000; of
silver, $21,964,000--two of silver to one of gold.
From 1841 to 1860 the average yearly yield of gold was $85,150,000; of
silver, $34,826,500--two and a half of gold to one of silver.
From 1861 to 1880 the yearly average yield of gold was $117,991,850; of
silver, $68,043,900--nearly two of gold for one of silver.
From 1881 to 1889 the yearly average yield of gold was $105,500,000: of
silver, $122,540,388--one-sixth more silver than gold.
From those figures it is plain that no continuous, extraordinary yield
of silver, such as might warrant the slightest fear of an unnecessary
addition to the money volume, is to be expected. On the other hand the
continuous drain of gold for use in the arts, as dentistry, gold plate,
jewelry, gilding, and articles of decoration generally, is seriously
encroaching upon the annual supply.
Public-domain text, read in full here on John Shaqi.
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