Free trader-journal. (Ottawa, Ill.) 1916-1920, 1917-10-11
HIGH SILVER PRICES TO
CONTINUE INDEFINITELY


finitely this State viii experience
renewal of activity in mining opera
t,ons and enjoy period Of prosper
ity unprecedented in the history OF
the State.
Thai "a the opinion expressed by
lsading business men, captains oil III
ansfrv and State mining officials 10
4 representative of The internati ohai
News Service when questioned re
garding the phenomenal advance III
nriee of bar silver in the New YORK
and London money markets.
Already there are indications that
the temptation of an excellent price
for The white metal. the production OF
which has gradually diminished since
the repeal of the sherman Coinage
Act in 1898. is attracting capital, ana
owners of properties that have beeh
capped and sealed for many years are
either negotiating for leases OF their
holdings or preparing to resume OPP
erations themselves.
Denver the business centre Oh the
Colorado mining fields. as Well as the
gateway to the rich Rocky Mountain
region, is beginning TO feel the I'M
proved conditions and an air OF pros
perity pervades the whole community.
Rank clearings in Denver Tor the
week ending September I, only 1ve'
day week on account OF the LABOR
nav suspension, were Sl1,059, SS7. 42,
as against sll,5S1, 25030 for the cor.
reponding week Of 1916, a gain OF
approximately 80 per cent. The es-
Establishment here of q branch Federal
Reserve bank will give impetus TO
the city's rapidly increasing business
Advocates OF William Jennings
Bryan's sixteen-to-one theory are en-
thusiastic over the silver situation,
and many of the Commoner's ardent
admirers here are said 70 be quietly
lobbying for a new coinage PROMO
sition that viii put silver on a sub
stantial basis for the redemption Or
fiat money the world over With gold
growing scarcer as result OF the
world wide war, some bankers main.
tain that silver must be used eAten.
siyely. Paper money Is frowned upon
under some circumstances, the metal
coin having psychological eject
that even bankers themselves cannot
explain.
In discussing the recent sensational
advances in the market prices for sill
yer, Fred Carol, Commissioner OF
Mines for Colorado, stated that. in
his opinion, silver would be selling
well above dollar an ounce shortly
assigning as his reasons the follow
ing
"The worlds main sources Of sill
yer have been the rich silver mines
OF Mexico and Canada, few distinc
lively silver mines located at Tonopah
New, and Eureka, Utah. and the as
ISOLATED silver values in the cope
and lead mines OF this country an,
Australia. The maximum annna
yield was made when these district!
were operated under the most favor
able conditions, about 19ll-amount
ing to about 226,000,000 ounces. Since
then the yield has declined rapidly
due TO the disturbed political condi
tons in Mexico, and the falling off II
the principal silver camps In this
country and Canada; also a curtail
ment in Australia due to the war.
"At the present time the world il
producing al the rate OF not more
than l75,000,000 ounces annually
None OF these sources appear to Of
fer any immediate increase in th
production Of silver conditions II
Mexico must improve before the mine
can be worked successfully, and NJ
less new fields are found the only il
crease must come from the old mil
ing districts.
Colorado seems TO offer more !
this respect than any other section {
the United States, and should benel
greatly as a result Of the high prices
But even under the most iavorabl
circumstances, the annual yield {
silver Of the world cannot he @,
pected 10 exceed 200, 100000 ounce
for number of years to come.
1.-THE consumption Of silver for bot
coinage and the industrial arts
steadily increasing The world
yearly average for coinage for tn
fonryear period closing with l9l
was 1913, 1850 fine ounces, and il al
pears from the best information oil
sainable that the industrial arts al
steadily consuming more silver.
1916 ii was estimated that 10000 ,O0
ounces were used for Industrial pu
poses Thus it will be cen that III
consumption al the present time
exceeding the production by abol
l10DO0,000 ounces annually All
the worlds markets are admitted
bare Of stocks, hence we are 10 COZ
clude that the prices mus continu
TO adyanee until the nse Of the metz
is sufficiently curtailod or the produ
zion Is Increased to meet the doman
In my opinion, the high prices wi