The Washington herald., 1918-05-07
SILVER And TIN
PRICES SOAR
Metals Are in Big Demand
Through War, Holland
Explains.

dustry and finance in the United
States. The reasons are excellent for
the high price of silver. for they re-
fleet the needs of other nations Tor
this metal, which Is to serve for money
purposes. The silver miners Of the
far West have waited q long time,
but they have not waited in vain, or
the probabilities are that for Year
or two at least after the war Is ended
silver will command the market at
the price which has recently been es-
tablished for it.
Although tin Is one OF the humblest
of metals. nevertheless many of the
experts regard it as second only IN
Importance, as one of the baser
metals. to iron and copper. At this
time il is vital for the United States
that plentiful amounts OF tin be Sc
cured. since 1t furnished the plating
for cans which are now utilized and
are long to be utilized in vast
amounts. for food containers. The
world would be greatly embarrassed
were the tin mines to be exhausted
1t is the one metal Of important use
in industry which is not found ex-
cepting in small amounts, anywhere in
the United States. although the day
may come when word is received from
Alaska that large deposits Of tin
have been uncovered there.
Asked Shipment Stimulus.
Horace G. Knowles, who was United
States Minister at Bolivia in the ad-
ministration Of President Taft, upon
the latest Of his visits to the United
States before he retired from that Of
fee, spoke to men of capital in New
York of the magnitude OF the tin
resources OF Bolivia. With the OPEN
ing of the Panama Canal for naviga-
ton these tin ores could be trans
ported. he said to the United States
at considerably less cost than was en-
tailed in carrying the tin from Bo-
livia to the great smelling works in
England. But there were no smelt-
ing works in the United States and
Mr.. Knowles appealed to men of cap
ital on Behalf of Bolivia. and not as
4 private individual. in the attempt
to develop a large import Of tin from
Bolivia tc the United States. But his
appeal failed England controlled the
tin market OF the world. Even when
/ the United States did attempt some
years ago to establish a tin smelling
, plant. England was able by diplomatic
business manoeuYers to prevent an
the Straits Settlements. England was.
} however. eager TO sell refined tin to
the United States.
Suddenly the situation has changed.
Men OF capital and of experience did
venture two or three years ago con-
siderable amounts Of money invested
in the establishment of a smelling
plant near the harbor of New York.
Now. by reason OF the war, Great
Britain is unable to control the export
of tin from Bolivia, and the United
States is procuring a large amount of
lin ore from that South American ma
lion which finds its way to the smelter
plant that now has a capacity, and Is
using it. of 500 tons a month.
Having thus begun the tin Industry
by reason of the war there seems to
be no doubt bur that the United States
will be able in due time to establish
very large -smelter plants and to i'm
port from Bolivia practically all of the
tin that is needed. Tin today is a
very scarce commodity, and the gov
ernment is somewhat concerned over
the situation. We must have tin in
order to make the cans in which vast
amounts Of food. to be transported to
our armies in France, can be con-
tanned
The problem has not yet been work
ed out and the difficulty of it is sug-
gested by the fact that this humble
metal now commands a hitherto un-
heard Of price somewhat in excess of
dollar a pound, the chances being
strong that this price will be increased.
Therefore tin, one of the humblest
OF metals. and silver, one of the
precious metals, both reflect some of
the unparalleled conditions which have
been occasioned by the war. Mean
, time. the purchasing power of gold
has been greatly diminished, for COM
iTnodities at their present market
prices.
Highly Valuable Scrap Heap.
Attention has been within a day or
TWO CALLED to a Paragraph in the re-
sport. probably written by President
fTruesdale. Of the Lackawana Railroad
'Company. which contains inforna-
ton that appears almost paradoxical.
tThis railroad company laid down in
1871 1000 tons of new steel rails
(which were of the best quality the
steel rail manufacturers could pro-
duce. These rails took the place Of
other rails which were old. some of
them almost worn out. and which had.
as presumed, only scrap-heap vafue
Nevertheless, this scrap iron fetched
In the market $4,000 more than the
high quality new steel rails cost. The
unusual situation Is explained by the
TACT that the wise management Of this
ralroad some years ago at q time
when the price of steel rails was low,
invested some part Of the earnings
IN Q purchase Of 1900 tons. II those
new rails had been laid down at that
urne the scrap rails when sold would
not have commanded a price sufficient
TO pay for the new rails. Now. how
ever, scrap iron is scarce and the de-
mand for 1t is great For that rea-
son the market price of it has appre-
ciated so that the Lackawana Rail-
ROAD Company was able to make a
pront OF SSz'Oo by substituting new
hlgn-srade steel rails for old and worn
out rails.
There Was q Precedent.
This transaction has been spoken or
as unprecedented, so short In the
memory OF some Of those who have
been actlve In business life for the
past quarter OF century. About
twenty years ago the iron and steel
manufacturers found a great shortage
in scrap iron. DiIigent efforts were
made to collect It. Considerable ouan-
titles Of 1t were accumulated in the
district. of which Minneapolis is the
cejd3r. Cuba was called upon to fur
r. scrap iron, and many wer the
ms shipped from that island to the
The Safest Investment, I