The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-05-27
LOOK FOR STRONG
SILVER PRICES
Far East Prosperity Inspires
Demand for More of the
White Metal.
INDIA rs LIKELY
T0 ENTER MARKET
Reserve of Coined Metal in
India Is Low at the Pres
ent Time.

The recent advance in the price OF
silver. which has carried the quotations
up 10 q point not previously reached since
the first quarter OF 1908, seems TO be well
held. The sharp break which followed
tho increase In the Indian duty on the
metal was. as predicted at the time, only
temporary. and the price quickly recov-
cred aud even advanced. The current
quotation of SAC in New York and 246d
in London is 9ic above the average OF
last yeag. and the general tendency seems
To be upward. AS usual. the advance
comes yhicNy from Increased demand
from the far cast. which Is now, as II mas
beer Tor long time, the rui!ne factor
in the silver market. says the Engineer
ing ana Mining Journal
Perhaps tho more important cause Tor
this larger demand is found In the i'm
proved conditions in India. resulting from
two wears OF good harvcsts The people
arc generally prosperous; their buying
power has been Increased, and according
Ia their immemorial CUSTOM the surplus
is being invested in silver In various
needs no special comment; il works now
MS 1t has IN former years China has
also contributed 20 the larger demand.
In January and February the shipments
10 that country were large, but since
then they have fallen on. and the Chinese
banks have transferred some OF their
ana in actual sales. The causes OF the
Chinese demand arc more complex. The
long continued depression OF silver and
tho consequent low rates of exchange
h9vc tended TO an increase in the exports
of merchandise and decrease OF imports.
leaving larger balance 10 be paid Tor In
moncy-that is. In silver. Moreover there
has been n steady Increase In manutac-
turing IN that country. so that the home
industries now supply many OF the aru-
cles of daily use formerly imported and
II tfs dc 10 i.- NsNtt
balance. which must be paid in silver.
Tho rcs:lis Of the causes above outlined
arr shown in the following table.
The principal exports from London 10
Tho casi for the four months ended April
~ were:
1909. 1910. Changes.
lnaia c1.i5l.Soo cgl77.soo !. e7O5.Soo
ss5i!s gnina loSss SsSSS ll'Soo D. ! sssSo ss.sSS
\ Tot .ea.592. 500 e3.29l 100 /. e69S. 300
APP. oz. 2s.3i0,2o0 32.S6960o l. 6.S29,i0o
The increase here in the approximate
urautities was AS per cent. little
smaller in proportion than that in values
Tho Straits arc no longer takers OF silver.
since the gold standard was established
there.
Outside Of the shipments TO the far
cnSt there have been some minor causes
Cor increased demand. Germany has
Duught this year a considerable quantity
f"r coinage: and Russia has. also taken
TIC in the east. There Is also reported
q Improvement IN the demand for silver
Cor use IN the arts. which usually accom-
Iiarics a ncViod Of ncrce esed prosperity.
T'':s sale fell of heavily in 1908. but now
shows a considerable recovery.
the Improvement in the silver market
has not bccr accompanied by any in
crease in our own sales OF silver. The
exports from and imports into the United
states for the four months ended April
So were as follows in value
1909 1910 Changes.
Expts .$GoI26.IsI SIS 3S6. .OSl ~ 81 .o96, 100
fmpts. p. l4.G75.365 l5,23S,S3l l. 563.269
Net exp.s 4750.S16 S 3.097,if7 p. 81 $751; .3s9
App. OF. a.26i.G0o 5.o39,950 D. 3,324,65o
This shows a decrease of 35.9 per cent
in the approximate quantity OF the net
cXporis The imports are mainly in
bullion and other crude forms TO be re-
fined here The United States mint has
not been q buyer OF silver this year,
AS 10 the near future. II is 10 be ex-
pccted that the demand from the cast
will continue large for some time TO come,
as the causes for II are still operative.
Moreover. the reserve OF coined silver in
India is reported TO be rapidly decreas
ing. and II Is not unlikely that the Indian
government will soon be in the market
as buyer for coinage purposes. for the
first time in three years. This viii add
To the demand and again improve the
price.