Gilpin observer., 1919-02-06
PERIOD OF PROSPERITY
AWAITS THE SILVER MINER

I, crease steadily. England is reported as
having placed 100000 Hindu soldiers
under arms; these troops have been out
OF India most of the time and have
been introduced to new and strange
commodities and ways OF living; they
VIII introduce them at home when they
return. Thousands of Chinese have
been used by the Allies back of the bat
tie lines; these men will be returned TO
their country and introduce new wants
among their people This means a stead
| lily increasing demand for silver and
the new wealth acquired by these peo-
pies and higher standard of living will
enable them to absorb it in greater
amount than ever before.
The above facts and figures explain
why China has been offering S116 to
sl-2o for silver during recent months
and could not get it, The walsh-Pitt-
man Act of April %. 1918, authorized
the Treasurer to withdraw $50, 900, 900
siiVsr dollars from the treasury of the
Si't'' 'ta'es 10 provide 2tO,OOO,OO0 ozs.
of silver for our own use and the use
of our Allies, Most of this silver has
gone abroad and will never come back.
Over 5000, ,OO0,O eco worth of silver has
been shipped from the port of San
fraiicisco during the past year. The
Walsh -rittman Act also fixed mini
mufn price of 81 ap oz. at which the
govel'nment would in the future buy sill
yer, This figure has virtually been set
tfed upon by international agreemeAt
but, it is doubtful if ii can be main
tained when the law of supply and de-
mand again comes into action. There
is known deficit in the production of
SILVER and there is certainly reason to
expect a higher. price for it.
There are also many good reasons on
which to base belief that production
will not increase to any great extent
for many years. Many of the famous
old silver mines OF the> world are ex-
hausted and many more are fast ap-
preaching that condition. The silver
mining camps OF the west have been
oesr for many years and some Of them
fsNsf>e practically abandoned. 1t will take
time to reopen the old abandoned mines
and put them on a producing basis No
one who is conversant with the past i
history of these old camps would be
willing to state that they will soon |
cease to produce, because 1t is fact .
that each OF them contain many partial |
ly developed properties and many pros
poets. anyone OF which with proper de-
velopment may make better mines than
any yet developed. Owing to the low
price of silver since 1898, the develop
ment of>prospects has been greatly re-
tarded and there has been practically no /
since that date, but as result OF the
conditions brought about by the war,
silver mining is sure to be a greater
factor in the mining industry of the fu-
ture than 1t ever has been in the past.
our future supply of silver must come
from the low-grade silver mines, from
mines of the baser metals which pro-
duce silver as a by-product and from
the properties that are now but par
TALLY developed or prospects. The larg-
est production Will probably be made
from mines that are now but prospects
or are partially developed. The old
mines no doubt contain quantities of
ow-grade ores, but, are generally bad
ly caved. full of water or are held at
high and unreasonable prices. In any
event 1t will as a rule take a great
deal OF money to reopen and put them
in shape to produce. far more than to
open new mines. The pamy days OF the
old mines is thing s the past; the
cream has been skinned from them.
while IT. is still in the new mines to be
opened ups The risk is generally great
er in the old, Mines for after 1t is un-
watered and repaired. retimbered and re-
equipped. IT. is as much a prospect as
is any prospect. for 1t is beyond belief
that the old operator closed the proper
ore in sight. Many prospects can be de-
veloped far enough to determine wheth-
er they will make mines or not at a far
less expense thans the cost OF reopen
ing one old mine.
The awakening of China, India and
the Orient. assures the silver miner OF
today a market for his product for
many years to come and az soon as
adjustment to peace conditions Is made.
a revival OF silver mining is sure to be
seen in the silver mining camps OF the
west