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

Denver. Colo. Oct. lO.-"When
Colorado mine owners and operators
become convinced that present hlgh
prIces for silver win continue indie
dnitely this State viii experience
renewal of activity in mining opera
tions and enjoy period OF prosper
ity unprecedented in the history OF
the State"
Thai IA the opinion expressed by
leading business men, captains OF IN
dastrv and State mining officials TO
representative of the International
News Service when questioned re
harding the phenomenal advance in
nrica 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 been
capped and sealed for many years are
other negotiating for leases of their
holdings or preparing to resume OPP
erations themselves
Denver, the business centre OF the
Colorado mining fields, as well as the
gateway 10 the rich Rocky Mountain
region. Is beginning to feel the I'M
proyed conditions and an air OF pros
perity pervades the whole community.
Rank clearings in Denver for the
week ending September z, only fiye'
day week on account Of the LABOR
Day suspension. were Si7059,SSI
as against s11.5S1 .250.30 for the cor
responding week Of 1916, gain OF
approximately 50 per cent. the es'
adjustment here Of a branch Federal
Reserve bank will give impetus to
the city's rapidly Increasing business
Advocates of William jennings
Bryan's sixteen-t0one theory are en-
thusiastic over the silver situation,
and many of the COmmoner's ardent
admirers here are said 10 be quietly
lobbying fCT new coinage PROMO
sition that will put silver on a sub
stantial basis for the redemption 81
fiat. money the world over. With gold
growing scareer as result Of the
world wide war. some bankers main
tain that silver must be used eXten
siyely. Paper money Is IroHned upot
under some circumstances, the meta
coin having a psychological effect
that even bankers themselves cannot
explain.
In discussing the recent Sensational
advances in the market prices for sil
yer, Fred Carroll Commissioners OF
Mines for Colorado. stated that. il
his opinion. silver would be se'lint
well above dollar an ounce shortly
assigning as his reasons the follow
ing:
sThe worlds main sources Of ST
yer have been the rich silver mine
of Mexico and Canada, a few distin'
lively silver mines located at Tonopal
New, and Eureka, Utah. and The a.
sociated silver values in The cope
and lead mines Of this country an
Australia. The maximum annus
yield was made when these district
were operated under the most favOl
able conditions. about l9ll--amOun
ing to about 226,0O0.000 ounces. Sine
then the yield has declined rapidly
due to the disturbed political cond
lions in Mexico, and the falling Off Il
the principal silver camps In thi
country and Canada; also a curtai
ment in Australia due to the war
"At the present time the world /
producing at the rate of not NOR
than 175,000,000 ounces annually
None Of these sources appear to Oi
fer any immediate increase in tn
production OF silver; conditions i
Mexico must improve before the mine
can be worked successfully, and. III
less new fields are found the only il
crease must come from the Old nil
ing districts.
Colorado seems to offer more !
this respect than any other section {
the United States, and should benel
greatly as result Of the high prices
But even under The most favorabl
circumstances, the annual yield {
silver Of the world cannot be o.
pected TO 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
fouryear period closing with 19l
was 1873, 1873 $50 fine ounces, and il ri
pears from the best information Oh
tainabe that the industrial arts al
steadily consuming more silver, |
1916 ii was estimated that 10000, 00
ounces were used for industrial pu
poses Thus II will be cen that tn
consumption at the present time
exceeding the production by abol
ln0DOV,O00 ounces annually All
The worlds markets are admitted
bare Of stocks, hence we sre to col