Commercial Ratio of Silver to Gold for each Year since 1687.

[NOTE. From 1687 to 1832 the ratios are taken from the tables of Dr. A. Soetbeer; from 1833 to 1878 from Pixley and Abell's tables; and from 1878 to 1896 from daily cablegrams from London to the Bureau of the Mint.]

Year. Ratio. Year. Ratio. Year. Ratio. Year. Ratio. Year. Ratio.

1700 14.81 1742

14.92 1783
14.85

14.48 1825 15.70

1867

15.57

1784 14.70 1826 15.76

15.22

1701 15.07 1743
1702 15.52 1744
1703 15.17
1704

1785

1705 15.11

14.85
14.87 1786 14.96 1828 15.78
1745 14.98 1787
1746 15.13 1788
1747 15.26
1789

14.92 1827 15.74

14.92

1829 15.78

14.65

1830 15.82

1706 15.27 1748 15.11 1790 1707 15.44 1749 14.80 1791

1708 15.41
1709 15.31 1751 14.39
1710 15.22 1752 14.54
1711 15.29 1753 14.54

1750 14.55

1834 15.73

1876 17.88

1835 15.80

1877 17.22

1836 15.72

1878

17.94

1795

1796

15.55 1837 15.83 1712 15.31 1754 14.48 15.65 1713 15.24 1755 14.68 1797 15.41 1714 15.13 1756 14.94 1798 15.59 1715 15.11 1757 14.87 1799 15.74 1716 15.09 1758 14.85 1800 15.68 1717 15.13 1759 14.15 1801 15.46 1718 15.11 1760 14.14 1802 15.26 1719 15.09 1761 14.54 1803 15.41 1720 15.04 1762 15.27 1804 15.41 1721 15.05 1763 14.99 1805 1722 1723 15.20 1765 14.83 1724 15.II 1766 14.80 1808 1809

15.96 1851 15.46 1893 26.49

Production of gold and silver in the world for the calendar years 1873-1895.

1885..

5,245,572 108,435,600

91,609,959

97,518,800 118,445,200

1886... 1887. 1888..

1889..

1890..

1891..

1892..

1893.

7,IC2, 180
7,608,787

1894

1895*..

5,135,679 106,163,900 93,297,290
5,116,861 105,774,900 96,123,586
5,330,775 110,196,900 108,827,606
5,973,790 123,489,200 120,213,611 112,414,100 155,527,700
5,749.306 118,848,700 126,095,062 131,937,000 163,032,000
130,650,000 137,170,919 135,500,200 177,352,300
146,815,100 153,151,762 133,404,400 198,014,400
157,287,600 166,092,047 129,551,800 214,745,300
8,737,788 180,626,100 167,752,561 106,522,900 216,892,200
9,820,125 203,000,000 174,796,875 114,327,600 226,000,000

6,320,194

Total. 132,055,763 2,729,834,900 2,305,194,012 2,265,802,300 2,980,452,900

The silver product is given at its commercial value, reckoned at the average market price of silver each year, as well as its coining value in United States dollars. See page 106.

92,793,500 120,626,800

94,031,000 124,281,000 102,185,900

140,706,400

* Estimated.

Product of gold and silver from mines in the United States, 1873-1895.

30,783,000 36,970,000

39,800,000

1878..

2,476,800

1879.

1,881,787

1880..

1881...

1882.

1883.

1884.

1,489,950

1885.

1,538,325

51,200,000 34,960,000 38,900,000 31,550,000 1,741,500 36,000,000 30,320,000 1,678,612 34,700,000 33,260,000 1,572,187 32,500,000 36,200,000 41,120,000 1,451,250 30,000,000 35,730,000 39,660,000 46,200,000 30,800,000 37,800,000 42,070,000 48,800,000 31,800,000 39,910,000 42,500,000 51,600,000

40,270,000

45,200,000

35,430,000

40,800,000

33,175,000 1,587,000 32,800,000 1,588,880 32,845,000 1,604,840 33,175,000 1,596,375 33,000,000 63,500,000 55,563,000 1,739,323 35,955,000 60,000,000 46,800,000 77,576,000 1,910,813 39,500,000 49,500,000 35,422,000 64,000,000 2,254,760 46,610,000 55,727,000 36,445,000 72,051,000

45,780,000 43,020,000

59,195,000

50,000,000
54,500,000
58,330,000 57,630,000

46,750,000

64,646,000

57,225,000

70,465,000

75,417,000

82,101,000

Total 40,183,481 830,660,000

939,576,000 943,083,000 1,214,751,000

See page 105.

The following table exhibits the value of the pure silver in a silver dollar at prices of silver per ounce fine from $0.50 to $1.2929, or parity:

The silver unit is the dollar which contains 4121⁄2 grains of standard silver 900 fine. The amount of fine silver in the dollar is 3714 grains, and there are 41 grains of copper alloy. The standard silver dollar was first authorized by the act of April 2, 1792. Its weight was 416 grains 892.4 fine. It contained the same quantity of fine silver as the present dollar, whose weight and fineness were established by the act of January 18, 1837. The coinage of the standard silver dollar was discontinued by the act of February 12, 1873, and it was restored by the act of February 28, 1878. The total amount coined from 1792 to 1873 was $8,031,238, and the amount coined from 1878 to June 30, 1896, was $430,790,041. The coinage ratio between gold and silver under the Act of 1792 was 15 to 1, but by the act of 1837 it was changed to 15.988 to 1 (commonly called 16 to 1). This is the present ratio.

*Parity.

Statement of the coin and paper circulation of the United States from 1860 to 1896 inclusive with amount of circulation per capita.

1860.. $235,000,000 1861.. 250,000,000

$207,102,477

$442,102,477

$6,695,225

$435,407,252

31,443,321 $14.06 $13.85

1862..

1863.. 1864..

1865..

1866..

1867.. 1868.. 1869..

1870..

25,000,000
25,000,000
25,000,000

1871..

25,000,000

25,000,000

202,005,767 452,005,767 3,600,000 25,000,000 333,452,079 358,452,079 23,754,335 25,000,000 649,867,283 674,867,283 79,473,245 25,000,000 680,588,067 705,588,067 25,000,000 745,129,755 770,129,755 55,426,760 25,000,000 729,327,254 754,327,254 80,839,c10 25,000,000 703,200,612 728,200,612 66,208,543 691,553,578 716,553,578 36,449,917 690,351,180 715,351,180 50.898,289 697,868,461 722,868,461 47,655,667 716,812,174 741,812,174 25,923,169 1872.. 737,721,565 762,721,565 24,412,016 1873.. 25,000,000 749,445,610 774,445,610 1874.. 25,000,000 781,024,781 806,024,781 1875.. 25,000,000 773,273,509 798,273,509 1876.. 52,418,734 738,264,550 1877.. 65,837,506 697,216,341 1878.. 102,047,907 689,205,669 1879.. 1880.. 1881.. 1882..

448,405,767

754,101,947 43,951,000 18.16 727,609,388 45,137,000 17.52 722,314,883 46,353,000 16.46 729,132,634 47,598,000 16.62 694,253,363 1,051,521,541 818,631,793 48,866,000 21.52 711,565,313 1,205,929,197 232,546,969 973,382,228 50,155,783 24.04 758,673,141 1,406,541,823 292,303,704 1,114,238,119 51,316,000 27.41 776,556,880 1,480,531,719 306,241,300 1,174,290,419 52,495,000 28.20 22.37 873,749,768 1,643,489,816 413,184,120 1,230,305,696 53,693,000 30.60 904,385,250 1,705,454,189 461,528,220 1,243,925,969 54,911,000 31.06 945,482,513 1,817,658,336 525,089,721 1,292,568,615 56,148,000 32.37 905,532,390 1,808,559,694 555,859,169 1,252,700,525 57,404,000 31.50 892,928,771 1,900,442,672 582,903,529 1,317,539,143 58,680,000 32.39 1888.. 1,092,391.690 970,564,259 2,062,955,949 690,785,079 1,372,170,870 59,974,000 34.39 1889.. 1,100,612,434 974,738,277 2,075,350,711 694,989,062 1,380,361,649 61,289,000 33.86 22.52 1890..1,152,471,638 991,754,521 2,144,226,159 714,974,889 1,429,251,270 62,622,250 34.24 22.82 1891.. 1,163,185,054 1,032,039,021 2,195,224,075 697,783,368 1,497,440,707 1892.. 1,232,854,331 1,139,745,170 2,372,599,501 1893. 1,213,413,584 1,109,988,808

1895.. 1,260,987,506 1,137,619,914 2,398,607,420 796,638,947 1896.. 1,225,618,792 1,120,012,536 2,345,631,328

839,000,302

1,601,968,473 69,878,000 34.33 22.93

1,506,631,026 71,390,000

32.86

21.10

NOTE 1. Specie payments were suspended from January 1, 1862, to January 1, 1879. During the greater part of that period gold and silver coins were not in circulation except on the Pacific Coast, where, it is estimated, the specie circulation was generally about $25,000,000. This estimated amount is the only coin included in the above statement from 1862 to 1875, inclusive.

NOTE 2.--In 1876 subsidiary silver again came into use, and is included in this statement, beginning with that year.

NOTE 3.-The coinage of standard silver dollars began in 1878 under the act of February 28, 1878. NOTE 4.-Specie payments were resumed January 1, 1879, and all gold and silver coins, as well as gold and silver bullion in the Treasury, are included in this statement from and after that date.

NOTE 5. This table represents the circulation of the United States as shown by the revised statements

of the Treasury Department for June 30 of each of the years specified.