The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1920-03-18
GREAT SILVER BOOM
PREDICTS NEVADA MAN
BIG BANKING INTERESTS SAID
TO BE SEEKING SILVER
MINES.

Silver mining is certain to be yer
profitable for years to come is tn
opinion Of Eugene Davis, who revive
j., large mining operations in the famou
> old silver camp Of Eureka, New, &C
: cording to interviews published in tn
San Francisco papers.
Analysing the silver mining situa
tion he said:
After the decentralization of silver
when the industry was killed in thi
country, the price of the metal de
creased to the point where with ex
tremely few exceptions it could no
be mined at profit No one wante'
a silver mine. Prospecting ceased N
great deposits have since been dis
covered.
Capital could not be obtained TO
the development of prospects. Tn
silver we have produced since then
for the most part, has been as a by
product. The public regarded silvei
mining as Improbable and would
have nothing to do with silver stocks
when it became apparent tina
there was an urgent demand through
out the world for about four times as
much silver as was being produced
and the price went climbing to the
highest level it had ever reached, il
was realized that there were no real
| ly great silver mines operating in this
country.
Fix Value of Silver.
Sufficient time has not elapsed in
which to reopen, further explore. de-
velop and put on paying basis the
great mines that were abandoned
when the price of silver went so low
that they could no longer be profitably
worked. Many Of these mines had
left standing in them, filled in slopes,
and on the dumps great quantities of
ore of a grade too low to be worked
at a profit in former times. Many Of
these properties could be made large
and profitable producers today but
for the excess profit tax, which has
kept the necessary capital to open up
and work them in a large way from
investing until now.
Inc Ndluc VI silver Is Certain 10
be fixed by international agreement,
and this country will dictate that
value. The recent action of the gov
eminent Of India has paved the way
for this by going on a gold basis and
fixing the value of silver in relation to
gold at 1929 This means that 1929
win hereafter be the minimum price
of silver
Not Enough Gold.
There is insufficient gold to sustain
the worlds financial credit system. 1t
must have the help Of silver or fall.
To obtain the necessary amount of
silver to avert such a calamity every
mine in the country must be worked
and every promising prospect devel-
oped.
Great fortunes will be made out of
silver mining. 1t win require consid-
cradle time to open new districts and
provide the producing and necessary
transportation facilities. Pending
that time it is to the old districts that
we must look for increased produc-
ton. In many of them the very i'm
portant new discoveries will be made.
Some have already been made.
The demand is so far in excess of
the supply and its increased produc-
ton is so vitality necessary for the fin
ancial and economic readjustment of
the world .hat silver mining must at
tain an Importance unprecedented in
history"
Search for Silver Mines.
Important banking interests have
for months been devoting attention TO
efforts to discover silver properties
and the development of some of the |
I'D ones. Realizing the fact that the |
DC nand far exceeds the supply far /
sighted bankers and engineers have |
started in search Of new silver prop
critics. They are we'll supplied with
money. No publicity has been given
heir efforts and they do not care to
nave anything said of their operations
The people who have taken the
leadership are men identified with the
argest banks, investment houses and
companies in the United
states They are firm in the belief
hat the excess profit tax will be re-
moved from silver and that suitable
obstructive legislation will be passed
y congress, giving proper ecognition
. the industry as being essential to
he prosperity Of the country and plac- {
lg it in equitable relation to the gov q
rnment. [
They believe that when the facts c
ecome known, public sentiment will a
ompel such Legislation. Then capital e
] such abundance will invest in silver o
lining as to put it where it belongs
nd we win then see the greatest sill u
err boom known in history and it will V
'ntinue for many years" Il
BEN HUR. 81