etals, one can form some feeble estimate of what
an exhaustive drain upon the gold and silver supply of the world will
ensue when these nations awaken and develop their resources and energies
through the stimulating influences of western ideas and example.

Having considered the possible momentous absorption of the precious metals
by the Asiatics, it may be well to consider what Europe itself is likely
soon to do in the same line. England, France, and Germany are the three
most substantial and commercial nations of Europe, and their experience
may be taken as an index. We find that these three use on an average
$16.40 per capita of gold. To give the same to the rest of Europe,
including Russia and Turkey, will require, in addition to their present
stock, $3,780,000,000 in gold, or nearly as much as the entire world's
present stock of gold coin.

If the example of France and the Netherlands--two of the soundest and most
conservative nations in the world--be similarly taken as an index to the
probable use of silver, it appears that these two nations average $12.50
per capita. To supply the rest of Europe to the same extent will require
an addition of $3,563,000,000 to her present stock of silver, or about
three-fourths as much as the present coined silver of the world. In view
of these facts, is not the real question, not whether there is gold
enough, but whether there is both gold and silver enough for the future
monetary requirements of the world? Does it not seem that the nations are
soon to be confronted with this dilemma: that the product of the precious
metals must be greatly increased--and is that possible?--or that for the
want of gold and silver there must be a serious check to the progress of
civilization?

End of Project Gutenberg's If Not Silver, What?, by John W. Bookwalter

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