Bolivia 11,980,000 Peru 2,410,000 Chile 270,000
480,000 Australia 13,440,000 1,390,000
European countries Germany Austro-Hungary Spain Russia Other countries 152,090,000
The quantity of silver produced in the United States last year, fell short of the out-in 1891, by about 300,000 ounces, there being a diminished product in every prodacing State and territory except Colorado and Montana. Colorado alone produced 24,000,000 ounces, that being 3,000,000 ounces more than in 1891, while Montana contributed 17,350,000 ounces, or 1,000,000 ounces more than in the previous year. The large proportion of the total output of the United States, which is derived from Colorado, ada, of course, to the importance of the announcement that there has been a very general closing of the mines in that State. It may be doubted, however, whether this is likely to be anything more thana temporary stoppage. The mine owners have two objects to serve in restricting production at present. For one thing, they wish to combat the proposed repeal of the Sherman Act, by creating the impression that would lead to the ruin of the silver-mining industry, and further, having in view the probability n spite of all they can do, the Sherman be repealed, they naturally desire to obtain from the Treasury in the meanwhile the highest possible price for the stocks of the metal they have on hand—a purpose which can be best served by stopping fresh supplies. And there is all the more reason to be dubious as to whether the action of the Colorado proneers is more than a tactical move because of the fact. that, inasmuch as more than one-half of their total output is obtained from the smelting of lead ores, they are not: really so much affected by a fall in the price of silver
Text read from the printed page and cleaned; old type leaves the occasional error.