The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1919-11-28
SILVER VALUE SO HIGH
DOLLARS ARE MELTED
TO GET S1.O4 RATING

NEW YORK. Nov. 27.-Thc United
States is threatened with silver coin
famine.
Tho silver dollar. most valuable Of
tn. United States silver coins. was
worth sl.GiI4 yesterday. a few days
at-o IT was worth sos and $l.O2 Is beng
bad CIR il IN the Urcn market.
There is therefore, substantial
rrrlI, in melting silver dollars and sell
Ihr The SILVER BY the ounce in bullion.
This is being done by many foreign
houses. Amr"iCnn houses, for TatrI"l'c
rya-"ns. refrain from Tins practise.
It silver coins ar" thus eliminated IN"
I'n!trl States gnv"rmm,Nt viii have 10
iss,I,. S,rir instead. The country viii
thru do business on tn" haeis Of paper
Inunnv rs Il did after the civil war
I;arllt,rs say that il is not violation
of law 10 mcIt down silver coin. al
. though there - a law AGAINST nutilhtinG
cons rhcy az lh.' cost Of melting tho
COIN ~ about one per cent.
Larry" ,hirm"rtS If SILVER dollars, IN
tact in som" Cp="S hut mostly reduced
, E" hmliun. are being made to China and
India ia rnynI'Ht for goods imported L"
thus country. silver seldom gets out Of
those countries: the natives either hoard
, Il ,r in .h.un it into trlrkCjH.
Sl2,soo,cco For Export To China.
Th,. ..:crm- hin EMPRESS Df Russia will
sail this morning Crnm Vancouver for
CANT with $@.5"","Oo IN SILVER dollars.
l. was reported " .!"rHhy IA" Fr"1%"ry
prpart,ncTt had released nj San Fran
! cisco for h.TN'ut t. China an aHdi-
finnal $1,000 rn InSlvcr dollars. this
10 rc melted into silver bars for easy
/ handling.
rhr Tinted Stnros government Is try
in, to devise means Of preventing tho
melting and export Of silver dollars.
Inst what form this plan Will take is
ir"bl"wrllral.
England and Franc" have, placed nm
took this action too late, Virtually al
'lrr silver CONS had h""n melted and
old There are no silver francs III
France. no silver marks IN Germany, no
.ilv.r lire in Italy and the quantity OF
l~'.ti~h silver shillin%s. hnlf crowns and
crowns is rapidly diminishing.
The price Of silver in The United
states hnS continued 10 rise because or
tho insistcnt demand for III" metal in
China and the Far East. \ further rise
of ono cent and IN" silver " half dol
lars, quarters and dimes will be worth
more than In" face value Of the coins.
! In 2 statement issued yesterday the
Guaranty Trust Company pointed cut
how tn" reserve cf silver dollars held BY
the United states Government may
serve t. break tho price and prevent the
cradic~:ir "f silver coins. 1t said:
! "Thc Official price Of silver today Is
: I.%75 per ounce.
! Face value Exceeded Two Weeks Ago:
)
: thus making tho silver in Il silver dollar
worth more than is fac" value. When
! it reaches n point just over Sl.%S INC
| silver in the fractional coins in daily
and constant use will b. worth more
than their fac" value.
| The United states is Stil an open
! silver market. Eal"rc"S owing To INC
! Far Fast can be settled by silver ship
mcnts. Great quantities Of this metal
as well as gold have b""n going cut on
: ships bound for India. China and Japan:
according to tho official statement 81
the Treasury Department. ne OF Norcm'
her |. 1919. tho Government still holds
| in the Treas ury s6S.4l5.5nn in silver do.
I lars, equivalent TO about 0ooV
, ounces. Under the terms Of the lhiman
act this great mass Of metal ""n be
melted and turned into the market.
It Is quite possible thHt Ivy this add,
ton n further rise could b" prevented
and tho threatened danger to The nation
al fractional coinage eliminated.
: In pointing out SON" OF the Factors
which have made for tho continued
soaring cr tho price of silver. the state
mon, called attention n tho order or IN"
Mexican Ministry Of Finance. effective
November 10. 1919. retaining for the
Government mint half the Mexican pro-
duction Of fine bars. This d"crceo'
though temporary. Is subject TO renewal