The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1910-05-07
SIXTY Cent
silver IS
POSSIBLE

SILVER To-Day Win Il quotation Oh
54H-marks the top notch in the price
of the white metal for some thirty
months. And everyone at all interested
in the subject is wondering just how
much higher it will 60.
The other day the Tonopah Sun man
discussed this question with w. w.
Charles, general manager of the Tone
pah Mining company, and Mr.. Charles
was asked il he thought silver would
90 to 90 cents during the year.
alt is hard to say just what will
h%appen,' replied the mining man. Zone
significant and healthy sign about the
present advance is that it has been So
steady and continuous, evideneiHg that
it is based upon increasing demand and
not upon speculation. And with the de
mand steadily improving, with no
abnormal increase in the production,
there would seem to be no legitimate
reason why the price should not move
upward-at least until the demand is
checked. Sixty-cent silver would seem
to be among the possibilities of the
year, though of course it is hard to say
just now probable it may be-"
The explanation of the increased de
mand is found iii the increased con
sumption of the orient. Trade condi-
tions improving, both China and India
are requiring more of the white metal
each month, and until the present up
ward trend in prices of commodities,
and consequent irmer tone of business,
meets with some setback there AZ no
valid reason why this consumption
should suffer a check. The temporary
drop in price of the metal some weeks
ago was due to the announcement of
the Indian tariff, but that decline has
now been overcome.
Word comes from Washington that
the government is being urged to pur-
chase more silver, in order that the
ratio to gold may be brought back to
what is regarded as a safer commercial
standard. This is a matter that is be-
lieved to affect the commercial relations
of the gold-using countries with the
orient, and the director of the mint is
said to have intimated that he may
give it some discussion in his next an
Eual report.
1t is suggested that the government
purchase more silver that the ratio may
be brought back to a safer standard.
According to records, the ratio to gold
is now about 40, whereas it was about
81 three years ago. This great fall in
the ratio has become alarming to some
people and therefore they are advocat-
ing the purchase of silver.
To permit the ratio to fall, it IS
claimed, will tend to decrease our
ports and increase our imports, Il con
dition of affairs not desired. While Di-
rector Andrew is not willing to agree
to this superstition, he said that this
phase of the question may be discussed
in his report. He said that there was
no immediate prospects of purchasing
silver, as already in the sub-treasurie
and minis the government had on hant
about s21, 0O0, 900. So far this supply il
remaining stable, the redeposits witt
the government about equaling tn,
Withdrawals. 1t is not expected thaf
any great drain will he felt on thi,
money until the summer business starts
up. Even then it is not known whether
the country will experience such an ex
tremely prosperous year as to neeessi
tate the replenishing of the stock 0
silver.