The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1919-11-29
Demand for Silver IN World
JWtiiGS Efforts to Increase
Production, ElgplG Davis Says
America Would Increase Its Wealth and Prestige and Aid
Commerce, He Writes, by Removing Excess Pro-
fit and Income Taxes From White Metal


statement that England was u8ntink
the entire world for controlo of silver;
that by reason Of her long domino
ton of the silver market she had
controlled the Oriental trade; that II
she should lose her control upon sill
yer she would lose her hold upon
the Orient and that with this lost
her world commerce would dwindle.
Subsequent significant events have
strengthened rather than given rea-
SON for q modification Of my views.
Outstanding features of the silver
situation last week were TON pence
per ounce in London, $1.29 bid in
New York.and S1.s5 bid in San Fran
cisco.
Export Prohibited By
Britain and France
The export Of silver bullion from
Great Britain and France has been
prohibited. Its expectation fr o
Mexico has been restricted by SO per
cent. Gold is being exported from
England to India, while the latter
continues to sell $4,000 ounces of
gold every fortnight and is a heavy
buyer Of silver at advancing prices.
China continues to absorb silver
at an unprecedented rate, practically
without regard to price.
The silver dollar is now worth q
premium.
Nowhere is there any appreciable
increase in the production Of silver.
The situation is greatly agitating
the entire financial world. To what
heights the price Of silver may climb
during the contest now going on be-
tween the various countries for its
possession is impossible to approx
mate. Since the evils Of paper money
issues made during the war are
known and understood by the peoples
of the world, the demand for silver
has become so universal and insist
emit that boarding of the metal is
rapidly causing its disappearance
from circulation.
Governments Of Europe
Considering Expedients
The Allied governments of Europe
are seriously considering ways and
means of preventing the further adj
vance OF the price of silver and to
those who are familiar with the his
tory of England's past performances
In juggling the white metal, from
which she has profited greatly, 1t
will not be difficult to divine her pur-
pose. 1t is apparent that because OF
the increaseu price Of silver 8 g
faces 4 very serious financial stu
She cannot afford to mint sill
YER at the price she is now paying
for 1t for the reason that all of her
silver is minted on a basis of $1.29
and a fraction an ounce. That she
Is striving in every possible way to
break the price Of silver is perfectly
apparent. This she must do II she Is
to regain control of the silver mar
ket in the future.
Britain May Substitute
some Cheaper Metal
The London Times, In what may be
reasonably considered an inspired
has intimated that In the
event silver should rise above sc
pence an ounce Cat this writing it is
pence In London, the British
may find it imperative to withdraw
silver coinage and substitute some
metal. She has in circula-
ion approximately $4,000. 900 of
Iilyer. The price of the metal in the
,oin being worth more than its face
t is ridiculous to suppose that the
,eople would surrender 1t for a cir
'ulating medium possessing less act
lal value. But even though she were
uccessful in regaining possession of
Ter subsidiary coinage, and melting
t into bullion and throwing the bull
ion upon the market. with the delib-
rate purpose of breaking the price
( silver, she would still meet with
Iefeat for the reason that the do
1and fs SO great that 1t would be
ufckiy absorbed and the price would
gain begin to advance.
american Expectations
% Orient Continue
For the period from July l., 1913.
o August 81. 1919, the United States
'xported to China, England. Canada,
india and Hongkong. a total of $3.50.
Of silver. The Official f1g-
Tres Of exports from May to August
Il, 1918. show that we have shipped