Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1888-10-09
The Silver Market.
New York Engineering and Mining Journs


A decided improvement in value
has recently taken place in silver:
The rise from the lowest point reached
is about cents ~ ounce, and this
has occurred during the past month.
This represents about $2.2O0,000 on
the production for the year, which
will probably reach, if it does not ex-
coed, A, 100000 ounces. 1t is to be
hoped that the silver mining com
panies will now share in some degree
with the copper companies better
remuneration for their investments.
Take the Granite Mountain Company,
for instance; this improvement of 5
cents if continued would mean an
increase of about $l7O,O0O in the net
profits on the years production. The
L-adville, Colorado, mines will re-
ceive the lions share.
1t is perhaps wo,thy Of note that
this rise has followed All advance in
value of most descriptions Of produce,
whereas in the past its increase III
value has generally preceded the i'm
provement in price Of produce. The
Importance Of this advance III the
price OF silver depends on whether it
is due simply to speculation, or
whether it has some more tangible
and durable foundation. The short
European crops must create, or, to be
more accurate, have already created II
greater demand than usual for wheat
from all quarters, including British
India, and at higher prices, and the
increased sum to be paid for the In.
dian crop must be provided for, to II
great extent, in silver. ...-.-.
Then again China, towards which
country the eyes of the whole silver
producing world have been turned as
very important market for the
r metal, is beginning to open its gates
to the pressure Of modern progress,
| and from being simply "ajar," they
may soon fly wide open and invite the
world to build its railways, open IFS
. mines and create metallurgical works
of every description. We are not at
, all convinced that the exploration OF
. China's great natural mineral reso lrces
l and the development of manufacture
e ing by its countless hosts of industri
y Gus, intelligent and frugal inhabitants
will be of benefit to the industries o.
! other parts Of the world; but while
q these improvements arc being made
= China will certainly afford large mar
f ket for silver, and Us our total export,
a Of the metal last year exceeded GU
!. imports by only about s9,OGo,OOO, TIN
:. price Of the metal may we'll be main
:, tanned at or above its present level.
r Our exports of silver exceeding GU
>. imports by SO small an amount, com
parativelv speaking, a new marke
might easily absorb our surplus an
thus advance the markets of the world
The indications, though not conclu
~ ~ sive, yet lead Us to hope that for
time at least the downward course {
:" the silver market has been arrested.
NJ 1t cannot, of course, be expecte
'e that the coinage standard OF Sl292
H. per ounce will ever again be reached
H. but it is something to he able to fe'
es that the bottom has been reached fe
y the present, and that somewhat bett'
p prices may come in the future. III
OF importance to the Indian governme'
is of any improvement III the price
&C. silver was shown by the Under Seer
al tary of State for India in the Hou'
of Commons in 1886, when he poin
ed out that fall of one penny in II
rupee (equal to about four cents {
. the ounce) entaiIed a loss Of aho
ep FL 100000 on the; Indian. .treasu
ht each year.
In addition to this, the mere natur
reaction from the heavy dspreciatit
nd that silver has suffered from for
les long, woull he something to GO upo
though it is hopeless to expect I
turn to anything like the COMA
standard. We referred in our ISIS
of September 9Th to the influence
ar the exchange transactions betwe'
the English and Indian government