The Bridgeport evening farmer., 1917-07-26
World of Finance
SILVER PRODUCTION or THE
 UNITED STATES AND WORLD

The recent changes in the Worlds s demand for silver and consequent ad- vance in prices are of special interest to the United States, which is now the worlds largest producer of silver. Prior to 1914 our neighbor, Mexico. produced more silver than did the United States. but at present our pro- duction of the white metal Is double that of Mexico. and much greater than that of any other countrys
 A compilation by The National City Bank of New York shows that the silver production of the United States is now double that of Mexico and three times that of Canada, which holds third rank among the silver producing countries of tho world. If the 172.3s8,0O0 ounces of silver pro- duced in the world in 1916 the United States produced 72.s3s,0o0 ounces or 12 per cent. of the worlds total. while z0 years ago. in 1896. we produced but s7 per cent. of the world produc- ton, which in that year was 1b7, ' 061,0 ,000 ounces. In that 2o-year per- tods. 1896 to 1916, the production of ! the United States has increased about 1z,o00 .00O ounces, while that of other parts of the world has increased but about l.oOo.oO0 ounces.
 The worlds chief producers of sii- yer are the United States. Mexico, Canada, Peru. Japan. Spain. Austra- 1ia- and Chile, In the order named, the < United States having produced in 1915, for which figures of all countries are available, T4.ae1.00e ounces. Mexico, 30.BT0,000, Canada 28,401 ,000, Peru {, ,fao 1000. Japan 5,0s0,000. Spain A. 565,0o O, "A 6straliag ge2 ,327,e00; world tofai ITS, 5,BT4, coo Tn I9l6, for which returns are not yet available for many of the smaller countries. the production of the United States was s71,864, ,000 ounces, Mexico 35,000.o0o, Canada 26,5o0, ,00O. and the worlds total 171,3s4.00 ounces.
 Tn the distribution of our surplus silver a very large proportion goes to Europe. the remainder chiefly to the Orient In the fiscal year 1916, the latest for which complete figures are ! now available, we exported $B3,172, ,00l worth of silver of which s4ls832.0 .009 went to England. $s.240.00O to China and Hongkong and sl .3s5,0o0 to South America. We also exported in thai year se,420,000 worth Of foreign sill yer, out of a total of $s4, 154,00 worth sent to us chiefly from our near neighbors, Mexico. South America. and Canada, part of 1t coming in the form of ore and part as refined bullion Most of this Is sent to us because o1 our superior smeltinE, and refnine facilities, and also because the United States as the worlds largest produc. CT of silver has special facilities fol marketing that product in other parts Of the world. Tn the fiscal year I IT for which II months figures are now available. the value of silver exported was about $75 900 GOO. slightly ex ceeding in value that of any earlier year. The exports of 1917 are thus about S25, ,00Q, 900 in excess of 1916 about oue-half of this increase havins gone to Europe and the remainder t the Orient
 World-production of silver has ma terially declined since the beginnint Of the war. The total output in 1s1 3 the year immediately preceding thu war, was S2z3 ,eoo, 900 ounces. bu dropped to 1e0,61e,00o in 1914, ll7s, 574,0s0 in 1915 and 17z,3S4,0 900 il 1916, the decline occurring In ccun tries other than the United States. oul own production having been in 1913 s8.8O2. GOO ounces, in 1914. 72,455, 900, in 1915. 74,s61.eo0. and in 1916 < 7z,ea4,0eo.
 Nearly one-half of the worlds pro ductjon of silver prior to the war wa :. used in the arts and industries. th' ' Director of the Mint having estimated the consumption for arts and indus tries in 1s11, s7.o0o,ooo ounces, out Q a total production in that year Q PA ,OO0,000 ounces. At present. ac cording to current reports. the coun tries at war are increasing materiaIl, their coinage of silver. partly to talk the place of gold being withdraw from circulation for other purposes and -4n part to accompany the issue of nou-meta1lic currency which hay been made necessary by the demand of the war. Meantime, however, tn demands of the Orient are also ap parently increasing. since our owl exports of silver to the Orient in tn fisoal year 1917 will probably az grsente s1s.oo0.o00 against approxi rnately go .ooo, ,000 in 1916 and s6,ooo, oe0 in 1915.
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