The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1906-11-15
DEMAND FOR SILVER /!
hlbe ilshef thla ia hay reSs pra.
md Is Predicted 4 viii q Ml(ad.


Without the present domestic de-
mand for silver for inint purposes
there Is much in the statistical posi-
tion OF that important metal TO ac-
count for the recent advance In /.
prices. Not since 1893 has this metal
cost over II pence per ounce 10 Lon
don, or 20 cents at New York. Prob.
ably the iigares were expanded some-
what by government purchases at
the rate OF about 2,0Oo, 600 ounces re.
Gently, delivered al the PhIlade phia,
Denver and other mlnts; but the
great pressure this year has come
from India, which has taken about
t6i 3uo, 900 worth from the London
market, that Is more than the total
shipments 10 all the eastern coun-
tries In any preceding fun year, With
the exception OF 1877 and 1857. The
latter year covered the Indian Mutiny
and generally disturbing conditions.
aud the great famine in India occur
rcd In 1877. In other words, the de-
mand from India alone arises far
above all normal years, and ship
ments by December 81 may even ex-
ceed those periods of special stress.
| The fact is prices are now higher
than at any time since the repeal OF
the Sherman act authorizing puf-
chases that produced the excessive ac-
Communication OF about los, 600. 900
ounces In the government vaults.
That enormous stock has been coined
and circulated, either as subsidiary
coin or standard silver dollars.
against which paper money Is now Ia
circulation. Present prices appear
less Inflated, however, when u Is re-
allied that they are lower than the
, yearly average at any time prior u
I 1894, the London ayeaIge 10 1888 be-
: Ing 3aA pence per ounce aud A.Sl
! pence IN 1877. the year OF largest
/ movement 10 India. Prior to thai
/ date the average price was about q
' pence per ounce NJ London. Tit
I claim that the market value af tn
d white metal would be seriously dc
! pressed hy the extension OF the Rol'
o standard has been natly refuted b
d the events Of recent years, mn actna
!. rise OF about 10 cents an ounce hein
at present recorded from The lo'
' record touched IN 1902, despite IN
q long strides toward establishing III
o civilized world on uniform gol
d basis. For long time Mexico WI
!, able 10 realize profit BY the sale I
d It's silver pesos as bullion, bat Is mo-
!. actually seeking silver from abroa
!. for subsidiary coinage. Demand
also noticed for mints In many leat
"A Ing European nations.
n The question uf the moment
"a whether production can hc increase
Ia sufficiently TO cbe:k The advance
10 the price, as consumption gives .
n evidence OF enrtailment. possib
A. the demand for use 10 the arts ma
Ia fall of, although there Is no preser
se prospect OF reduction In the est
ia mate Of o., 900, 900 ounces anLnali,
particularly with leading nations
IN prosperous. The worlds yield
Dt placed at l7o, 200. 900 ounces for lso
he and further gain should follow u
a. attractive level OF quotations. wbi
to the United States should certain
4. regain the small estimated decreai
M from It's high.water yield OF e5. 90
Ia 600 ounces 10 1890. Low.arsds o
he that has not been profitable 10 vol
he will again attract attention, ano .
he opening of old mines may result FRO
he the discovery OF new deposits her
tosore overlooked.
an At the lowest point on record u
!, bullion value Of our standard siis
:, dollars was not quite 20 cents. IL
!, nov much less hat 10 character. b
A. this fIuctuation may disorganlze q
:, coinage systems OF new nations, TIA
IN IN order TO put silver money ON
= fair basis. issued IL at ratio OF
:, 10 /. As this Is no longer the ~
40 portion, there IL danger that tho
q, countries may lind silver coins goi'
~ out as exports Of bullion. and o.
:, ,eneiY may be the reduction
bullion value In silver eoins, y
n. any effort TO seek the maintainan
= NJ intrinsic value. instead ~ a su
a, sidlary fiat coinage with the nation
!, credit back OF II. must lead 10 en
:. less complications Scientific Ams
-. lean