The Washington herald., 1912-10-20
Uncle Sam Has More Than $500, 900, 600 Worth
Of on Hand in Coin and Bars Metal
Has Become Almost Common One.

III passed 1so. 900 ounces. and the ns
/ ures for 1919 Will be about Ns.ooo.0o
| ounces.
| Nearly all Of this vast quantity Of nil
YER comes from America II II n
rivers Of the white metal flowed, from
the mighty range Of mountains which
forms the backbone Of the continent-th
] Rockies in North America and their con
tinuation southwark. represented by tn
Andes in South America. Those tower
| ing hills are full Of silver. promising
for the future . yield literally iEexhausti
BILE. for doubtless they contain many
hidden deposit A. rich a. any discovers
| up to the present time.
This years production OF silver In tn
United States will be about $3..00o.o 90
worth. Canada will produce 80. 900 ant
Mexico 81. 1000 900 worth. Thus II will b'
seen that America north Of the 1sthmui
| of Panama yields the great bulk Of tht
/ worlds output Of the metal. Indeed
only a small quantity. relatively speak
ing. IL obtained from any other source
Australasia. with 81. .ooo. 600. being the
principal outside contributor. The Ande.
Of Peru and Bolivia will yield 800. 900
Germany. Spain. and Japan are silver
producers. but In . comparatively small
! way.
Caaada's Oatput.
1t will be noticed that Mexico pro
duces considerably more silver than W
do. and Canada nearly two-thirds a,
much. Until recently the British posses
eions on this continent did not yield any
very great amount OF the metal. but tht
opening Of the wonderful deposits Of thu
Cobalt district. in 1904. has brought On
tario to the front. Monte Christo's treas
ure was nothing compared to the wealth
Of the Cobalt minee. which In the last
eight years have produced 81. 900. .ool
worth Of silver-the present yield beine
something like Sis ooo. 900 per annum. The
ore averages 500 to the ton. and two
thirds Of what IL taken out Is clear
profit. over and above expenses.
More than 100000 ounces Of silver
arc shipped out of this country every
year. The bulk Of this vast quantity
goes to New York City. in the shape
OF bars, much Of 1t being forwarded
thence to London. though a considerable
fraction OF the whole goes direct to
India. China and elsewhere in the far
East. A large part Of what goes to Lon
don eventually reaches Asia. which is
the greatest consumer Of the precious
substance. for coinage. boarding. and the
manufacture Of ornaments.
The ores. as they come from the mines.
uFO BOlu ny tHS HlinS OWHerS 10 EeHNeTu,
who pay cash not only for the silver.
but also for the gold. copper. or lead
which they contain. From the refining
plants the white metal is turned out In
the form Of bars. weighing ordinarily
from l.coo to 200 ounces. each OF which
is stamped with figures indicating its
weight and hneness. These bars. which
are shaped somewhat like huge bricks,
are practically safe against thieves. ow-
ing TO their great weight. and so are
handled with slight precaution. being
frequently piled in stacks on the floors
OF the dealers offices in New York. with
no protection save perhaps a wire fence.
When slowed on board ship. they are
not even put into the specie room. but
are deposited in the hold like any other
merchandise.
The figures stamped on the bars are
absolutely reliable. and with no other
guarantee OF their value, they are
bought and sold II one Of them should
by any chance prove not to be as rep
resented. the credit Of the refiner would
suffer serious damage. He forwards his
bars by express to the dealer in New
the ship. On the arrival Of the vessel at
Liverpool the bricks are sent by rail 10
London. consigned to brokers in that
city. and In due time they are disposed
Of for shipment to various parts Of the
world. Some of them may go to Egypt.
Bombay. Madras Penang. New Zealand.
and Bangkok-in fact. to the most re-
mote corners Of the inhabited globe.
Pays Market Price.
1t is in the shape Of such bars as those
described that the United States govern
ment buys all Of the silver It requires
for coinage. paying for them the current
market price. Thus acquired. and de-
livered at the mints in Philadelphia.
New Orleans. or elsewhere. the raw
nitric acid. from which It is precipitated
by adding a quantity OF salt water. fall
ing to the bottom of the tank in q
powder which looks more like plaster Of
paris than anything else. The powder
has absorbed some chlorine from the
salt. and to get rid Of this. 1t Is trans
ferred to a trough filled with a zinc So
luton. which absorbs the chlorine. leav-
ing the silver absolutely pure. 1t is then
pressed into large cakes somewhat re-
cheeses after which 1t IL ready
10 be melted in crucibles and converted
into pieces Of money. To give the coins
the requisite hardness in order that they
may wear well. 10 per cent Of copper Is
added.
All Of the great silver deposits Of the
world thus far discovered have been
'ound by accident. II was in this way
hat the famous strike was made
which resulted in the development Of
he Comstock lode-the richest store of
white metal ever located. As the story
Ioes. two poor miners named Peter
)'Riley and Pat Mclaughlin were dig
hing for gold in 1859. at Gold Hill. in
Nevada. They were in particularly hard
uck. One day. however, in order to OBJ
ain the requisite water for their rock
rs-such primitive apparatus being the
,est they had at command-they dug a
lole to get It. and came upon what aft |
inward proved to be an outcrop Of the |
lode. It was Queer-looking
tuff. and the men. starting In to wash |
ome Of 1t, were astonished to md the !
'ottoms Of their rockers fairly covered |
Nth the precious metal they sought. |
'retty soon they were taking out 1900 |
vorth Of 1t per day-though their opera |
ions were considerably obstructed by an |
Unfamiliar kind Of internal blue sand" |
ockers. 1t was not until some time had |
lapsed that the blue sand in question |
vas ascertained to be an extremely rich |
liver ore. OF this material incidentally |
ich in gold. was composed the celebrat- |
d Big Bonanza solid mass Of ore, |
early half silver. 800 feet wide and Of |
unlimited depth. extending |
cross the Comstock Lode Much OF II \
ielded from 500 to $1,000 . ton-a pro-
uction OF wealth suficient to create |
everal Of the largest fortunes in the |
1orld. 1t was from this source that the |
nulttple millions Of Mackay, Flood, |