1895.] 



49 



[Prime. 



The Varying Ratio between Gold and Silver. 



By Frederick Prime. 



Mr. Prime made some remarks on the varying ratio between gold and 

 silver. Between 1687 and 1861 the ratio of silver to gold varied between 

 1 : 14.14 (1760) and 1 : 16.25 (1813). But in 1862 silver reached a value 

 from which there has been a steady decrease, with slight exceptions, up 

 to the present time. The ratio for this period * has been as follows : 



The percentage of production of the two metals since 1831 is as follows,, 

 given in values, not in weights : 



In consequence of the demonetization of silver and the consequent in- 

 creased demand for gold, which has increased in value judging by its 

 increased purchasing power, the output of the world in this metal has 

 increased materially. 



In 1891 there were produced.. .196,586 kilograms = $130,450,000 

 In 1893 " " ...236,574 " = 157,228,100 



♦Twenty -second Annual Repiort Director of the Mint, 1894. 



PROC. AMER. PHILOS. SOC. XXXIV. 147. G. PRINTED MAY 8, 1895. 



