Elk City mining news. (Elk City, Idaho) 1903-1913, 1906-03-03
Demand for White Metal Increasing

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Within the past two years silver has
made a notable advance, despite the
predictions of insincere statesmen and
ignorant politicians of ten years ago.
Millions of dollars in silver are disap-
pearing annually in the great NAV of
India, in China, and the Straits Settle
ments, and in the Oriental possessions
of the United States. In twenty-five
days, from January LIST to the 18th in
elusive, London sent silver to India to
the amount of 81, 615, 700, compared
with $780, 900 during the same period
last year, an increase in shipments of
81, 102, 900.
Gold may forever remain the stand
ard of values, but silver will always as
sert itself as its sister money metal,
1t was quoted in 1896 at 48 cents per
ounce. The great powers have since
then adopted gold as the standard, but
though demonetized the demand for the
white metal has increased to such an
extent that it is quoted at this writing
at sc cents. The demonetizing of silver
closed many of the silver mines, in the
United States, but the law of com
mercial necessity has opened, them and,
though there is more silver mined to-
day than at any time since the Com
stock mines were pouring out their
millions, the demand is steadily in
creasing, not alone in the arts and sci
ences, but for money used mainly and
the mints of this and other countries
have been kept busy coming the only
medium of exchange known to that
great portion of the human. race exist
ing in China, the British possessions in
Indian and the Oriental countries re-
Gently attached to the United States, 4.
The Mining and Engineering Review,
fortunately orunfortufateay, has rarely
sought to travel along the lines of least
resistance and to pander to heiWhfmis
and fancies Of ~'the" great "moulders Of
public opinion, And the expressions
of the Review On the Silver question
and its persistent declared opinions thai
it. was not POLITICAL question: that tht
demonetizing of silver was a question
rather of human rights, are still ad
hered to. During the past decade th'
statesmen and political leaders who's,
policy, dictated by the 'bahkinginterest
of the country, forced the silver mine
to close, have experienced a change Q
heart and. the most rabid apti-silye
men who were foremost a few year
ago in promoting the international Bi
metallic Congress TO give silver a fixe
money value. 49, a. ..nE
The cowardly business; men of TIL
west of both political parties, and tn
more pusillanimous and treacherou
papers, including mining publications
who played the role of sycophants an
subsequently bowed the knee to th
golden calf when cajoled or threatene
by the great money interests; who dc
serted their colors at critical moment
have learned the. lesson that migf
have been CLEANED from the pages {
history, that whenever a money met;
is tempered with, demonetized ar
made a mere commercial commodit,
international trade is invariably di
turbed and unavoidable losses result
With silver fiuctuating and the pla.
thing of gamblers on the .bourses, bus
ness transactions with foreign countri,
on silver basis also became gambling
The bankers of the country made M
lions on the fluctuations. 1t was
crime to gamble with money met
and.after paying for their experien
the eyes of the business communi
are open. Silver is gradually but sur
ly regaining it's place. The people d
mand it; the government must supp
it; there is no great surplus in t
treasury and though the silver mines
the United States produced last we
over $55, 600, 900 worth of silver at col
mercial value, ior more than one-third
the world, the production this yes
keeping pace with the demand, will
much greater, the price of silver high
and more silver mines will be opened.
Mining and Engineering Review.