The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-29
CAN NEW YORK RULE THE
SILVER MARKET?
India's influence Must Be Nulliied
Help From Congress Needed.

the white metal among the countries
OF the world. the long prevailing
political anarchy having gradually
reduced the Mexican output. "A trans
fer of market hcgemony would there
fore he Of high financial benefit. This
country in 1914 produced 34.3 per
cent. of all the silver mined. More
over, our imports from Mexico were
equal to 1874 per cent OF the worlds
output. Practically. then. the United
states sells TO home and foreign con-
sumers not far from hall of the
worlds entire annual yield. or. say,
about 100, OOO. 900 fine ounces. The
advance in the price OF the commodity
within the past year. II sustained.
will increase the value Of h product
from home mines alone by s1o,0OO.OOO
or more; it will tend to enlarge our
middleman's profits in handling part
Of the Mexican output.
Nor is the profit derived from our
silver production concentrated In a
few hands. only at widely separated
periods In the worlds history have
there been great discoveries of pure
silver ores-thc Bolivian, the evada
bonanzas and Cobalt, for example. As
n rule about two-thirds of the total
silver yield is derived ms "A hy-product
~ coppe lead and zinc ores. Hence
silver mining profits in the United
states are widely distributed among
stockholders of companies OF a varied
nature. For instance. the Anaconda
c, mpanv in 1915 obtained from It's own
mines 235. oo0. 900 pounds Of copper
and ooo ooO ounces Of silver. At
nr.son, rr,cos 4, 1915 this silver out.
n,,, .houta ,vo tho Anaconda stock
,a,,nr. 60 mn ono additional income.
,o,a, Ga - nor cont ON mar Of
- "Sil,cr kirrsr to-day are an
o,,,hronism whv this pnint IL
.,ros.ol ,,iu ho soon later ON
Two n,,ura, ATTITUDE nf this country.
,,..a,ar, 4. tho, 80 n "bull, nm silver.
.s,,a,. 40 o,r f,r,rors AR, "natural
h,,,,s" nr ,,ho,, There Is this differ
$500 a. >, mo ,vn commodities. We
o,rro. ay,rd T., s.arvc ourselves with
too daar whoa, and flour merely to
,at.o ,bo ,,iyc ~ onr cxnor,ahlc sur
,r,. Ia, az. don., cat silver The do.
no.,i, cn,sumption If i, is mainly in
~. n,x,ry ci,ss We ,ould bar the
,,,i,. metal from uur arts. sciences
.,d ~a,u,,c,u-es without yr,,, loss
' ,r .h..ah,. ,o ,.,,,r s,in all our ant.
: n,,, 70 Moo, foreign cninarc needs "a
Z, an ounc, instead az - cents. There
| y, iass .cn,omir objection and more
u ody,,,oy, ia worry high
IT,. -, su,,r ,b,, i'm tho circum.
,,a,,,,, -, .,y ,,h,- commodity or
? ~ sannri,tes Two American silver
mn, .o, s.on v,th a clear con.
-
,rhoa nh tho silver Of the mines. the
.v,.,.ui,b Womb h,ya To- cease hus!.
n.ss ~ moderate amount WAS icf
= b, ro,,li afford ia nay "A high price foi
/, ~. na, rn,,,r,,, ,,I cborr. . ntryol
= nrice In the rich who consumed hi.
: nr,,.ho rr,,,,,, ,,vays urovidiur
. vhen We ,sle stems - control the sill,
i ,a- uarke, HAT, W. design high price
- ., b,vo stability Tho violent .l,ictua
j. TONS in IN. gold value of silver sine,
n -. c~s,oc,iry ~ ,h.y nave accom-
u,ni,d =, discriminating tendency 4
.,.,, dcrra.si,n have caused alinos
,,,,cu,.t So loss oyer an immense are;
Il. ~ world trade
~, :, .or,, tho s,ycr sc,ptrc From
N tho hand. ,ba, have hold II, So Ion!
vii, hc nn easy task for American in
y ,eros,s Toy VIII he confronted no
o,,, n.,,b ,rc ,,r,nrs that hay. mad
II 60. -, l,,. ,,r.ral sr,rci,l sl
n r,r,, ~ ~. ua., hlt with onstacl.
: rocr,i,, ia ms su,,al lcld tn
cl,ses, statistical mi place tn
y ,,Ine Of rho cpmbined Imports an
+ mnnr,s 81 Asia. Turkey and Egypt a
e,voo a. u oon 600 and 81. 600 600.
- ooo , ,.o,r This vas, trade of the sill
=, ,.r ,si,. countries f,clisscs in LondoT
,ri ,o, rr,hahly mo-, more than on.
VI ,,r,L 80 ,ro enormous settlements in
Il ,o,,od c,.s fnr tho actual movemcr
1. 49, sr,o, ,hrough the ,I.arin
uou.. ,b,, o.,nhl!shcs the quotation {
s',,,nr Gov ~, world Tho l.ondo
,~aLars ga, dc,lors constantly SCI N
m.,s. quantities If silver eXchang
/ n|. ,a,,,,l ,r..,l a, that cent?
q .,",h,r :, ,r,y from - OUu. 600 I
So no,, nnn .,,r,os III. stocks A, I.or
800 -, ,ro ohrornally Iow-
J" y" - dnno am :. -ooo ooo ounces. 70
" $3.50 VII :, ,rla tho silver mark.
g. nanror. u,,,,,j need both I
,ha .,,,cr,s ~ custom an
.,l 60 n-,yide III. va.
" .,h,r ,,c',i,i,s required I
|! 's5a ,n,,,r r,ir off and balan,
ro,,ti,rs AZ comu.rc
Nv, - r,.,, ,b, occ,d.rt An
""" 1T. . t.,vc.n tho gr,a, :,
rc INV :" '