Publisher's Synopsis
Excerpt from The Future of Silver
The work on The Future of Silver, which now earns the distino tion of being published in the English language through the Finance Committee of the United States Senate, appeared in the spring of 1892, when the deliberations concerning the introduction of the gold standard in austria-hungary began. In the meantime many of the statements I had made in 1877 had been verified. The production of gold, owing to the exhaustion of rich fields, had fallen for several years; afterward, indeed, owing to the discovery of the Transvaal fields, it had once more risen, but at the same time an extraordinary increase in the con sumption of gold by industry had occurred. Simultaneously there was noted an increase in the silver production, despite the falling price of silver, an increase which was mainly due to improvements in metallurgic processes. Argentina, Brazil, Portugal, Spain, Italy, Greece, amid vicissitudes of diverse nature, had lost their metallic circulation wholly or in part; nay even, in 1890, a time came when the strength of the Bank of England was not by itself equal to the emergency.
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