s the cause, they have given so many explanations that,
expressed in the briefest words, they would cover many pages like this.
The first was that the opening of the "Big Bonanza" on the Comstock lode
had given notice that silver was coming in a flood; but that was only for
popular use in this country. Scientific men knew that to be a rare find
indeed, not likely to occur again for centuries. The next explanation was
that China and India, so long the reservoir into which the surplus flowed,
had ceased to absorb it; and the next, demonetization of silver by Germany
and her throwing her old silver on the market. And with this the people
began to get at the true reason--the general demonetization by so many
nations.

The following table gives the annual production of gold and silver from
the discovery of America to and including the year 1892; and the highest
and lowest ratio of silver to gold from 1681 to and including the year in
which silver ceased to be in this country primary money:

YEARS. GOLD. SILVER. RATIO.

1493-1520........ $3,855,000 $1,953,000
1521-1544........ 4,759,000 3,749,000
1545-1560........ 5,657,000 12,950,000
1561-1580........ 4,546,000 12,447,000
1581-1600........ 4,905,000 17,409,000
1601-1620........ 5,662,000 17,538,000
1621-1640........ 5,516,000 16,358,000
1641-1660........ 5,829,000 15,223,000
1661-1680........ 6,154,000 14,006,000
1681-1700........ 7,154,000 14,209,000 14.81-15.20
1701-1720........ 8,520,000 14,779,000 15.04-15.52
1721-1740........ 12,681,000 17,921,000 14.81-15.41
1741-1760........ 16,356,000 22,158,000 14.14-15.26
1761-1780........ 13,761,000 27,128,000 14.52-15.27
1781-1800........ 11,823,000 36,534,000 14.42-15.74
1801-1810........ 11,815,000 37,161,000 15.26-16.08
1811-1820........ 7,606,000 22,474,000 15.04-16.25
1821-1830........ 9,448,000 19,141,000 15.70-15.95
1831-1840........ 13,484,000 24,788,000 15.62-15.93
1841-1850........ 36,393,000 32,434,000 15.70-15.93
1851-1855........ 131,268,000 36,827,000 15.33-15.59
1856-1860........ 136,946,000 37,611,000 15.19-15.38
1861-1865........ 131,728,000 45,764,000 15.26-15.44
1866-1870........ 127,537,000 55,652,000 15.43-15.60
1871-1872........ 113,431,000