The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1919-12-12
Boom in Silver
Says Stoneham

Record. on the present condition OF
silver The views of Mr. Stoneham.
he being one Of the leading authorities
on the subject in the United States. are
of vital interest to the people Of Phoebe
and therefore the article Is here re-
produced In full:
When Is the silver boom comingg
That Is n difficult question to answer
because booms are spontaneous. They
come unexpectedly and frequently just
when those who have prayed longest
for them have given up all hope and
andoned themselves to despair.
But a silver boom Is coming most
assuredly.
Silver sold up to sf.37h an ounce. the
highest price on record for all time.
1t is now quoted at si.32h.
At S137h IT paid to melt the silver
! dollar as IL contained then more than
one dollars worth Of pure silver.
| The profitable melting point for sill
yer coins in England and France was /
passed some time ago and France now
suffers from a famine OF silver coins, |
due to boarding by the public and melt |
ing by pronteers. and even stringent
laws. carrying heavy penalties for both |
offenses. have failed to check these
practices.
In Great Britain the export or melt
ing Of silver coins is forbidden and as
yet no scarcity has arisen. but the
danger OF disappearance of coinage ex-
lists while silver sells above $l.2s.
Until silver sold above $1,2s an ounce
1.-THE United States appeared unconcerned
Iabout a matter which was of grave
import to all Europe and to China and
/ NJ nth Oriental
countries who from the time of Abra-
ham-who paid 400 shekels Of silver
lfor Sarah's grave-have regarded sill
yer as the chief money metal and the
lonIy precious metal for ornamentins
their womankind. their favorite AMI
! mails and their places of worship.
The world Is now consuming about
! two hundred million ounces of silver
: year moro than IL produced, and the
fear that the price of silver may con-
tinue to advance to possibly 81 an
ounce Is causing much concern among
the leading bankers Of New York City
: and the treasury officials at Washing
. ton. This week George T.. Roberts,
vice president Of the National City
bank, suggested that in order to check
the upward continued movement In the
, price the treasury melt down 90.000.00O
!, silver dollars now in hand and sell the
. silver on the market in order to ap-
. pease the Unsuitable demand In China
that commenced in May OF this year
: and has been growing In intensity ever
since.
. It costs an average of As cents to
a produce an ounce OF silver. The profit
Is therefore about 90 cents an ounce
, or more than 200 per cent, this amount
being far in excess of the profit earned
: in the mining of any other metal.
Silver Is the only precious metal
money in existence today. Gold hal
disappeared from circulation.
The silver stocks are now In the
same position as when copper meta
was selling for II cents q pound ant
vast enterprises were being launched
= immense properties being equipped To-
tremendous production because few
far-sighted men visualized the fac
that copper was a world-desired metal
., that production was less than con
, sumption and demand and that cope
mining would prove to be most prof
table industry.
It took the public q long time t
y grasp the copper situation and the
were Indifferent to China at $3.50 an
Ray Consolidated at 81 on the Ne,
y York curb a few years ago.
Millions more people in the worl
today want silver for money for trad
and other purposes than ever needle
"copper".
And the silver stocks are now In tn
same position as were the cope
stocks when Ray Consolidated was o
the curb at 81.
Just as the world few years AZ
looked to this country for copper. 30
10 looking to the United States for 81
yer, and the banks and silver bullio
- dealers of New York and San Francist
ARE looking to the silver mines of tt
Estate of Nevada to supply the deman
Nevada was the scene Of the first 81
yer discovery Of any note In this coui
try and has enjoyed the title of II
Silver State because 1t has produces
more silver than all the other stat
combined and because at critic
time In the civil war in 1854 the silv'
from the Comstock mines replenish'
the exhausted treasury OF the nor
and enabled 1t to win the war.
The territory OF Nevada was then
warded with statehood and Is ev'
now sometimes called the 'Battle-bo
State"
u. silver appears to have an afanity I
the rugged volcanic formation of n
vada, for there 10 hardly mounta
range from north to south and east
west In which silver Is not found.
Throughout the state are nunberle
mines which yielded fortunes In I
~ old days when silver sold At II
ounce. like now despite the fact tn
often the ore was hauled hundreds
miles by or teams and shipped
n. Wales to be smelted.
Then came the decline In the price
silver and nearly every mine clos
down because at 50 cents an ounce q
On YER mining was pot profitable exec
whore the ores also carried gold. a.
: : the Tonopah mines. which contin red
pay large dividends.
Everywhere throughout Nevada ca
tai 10 being eagerly offered to open
the old mines In the famous camps
Phoebe. Eureka. Hamilton. Austin,
Comstock and elsewhere.