Mohave County miner and our mineral wealth., 1920-03-06
WHITE METAL DEMAND
 FAR EXCEEDS OUTPUT

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 Financiers, investors, capitalists and the general public are all asking the same question: "When will the silver boom start and how far will it go?" These are the words that are on the lips of the many and which cannot be answered by any one ex- cept to say that the silver boom has started and is liable to "spurt" at any moment, and will make history for the silver industry, says Herbert A. Huffman in the Morning Telegraph.
 So far the silver stocks have not advanced with the price of the white metal, which only recently made a new high record price at $1.4O per ounce, and is today quoted about s1 80 per ounce, and all indications show that the price cannot decline much from this price, but how high it will go no one at this time can tell, but the companies are in line for large profits at these prices, and this will prevail for long time to come.
 Never before in the history of the silver industry has the demand for the metal been as great as it is at present time. Now with the supply so low as it is and with production insufficient to supply the demands both here and abroad there can be but little doubt as to the important posi- tion that silver producing stocks are in and will play in the near future.
 Silver production at the mines both here and in Mexico has fallen off con- siderably. Mexico has plenty of sil- yer and other precious metals, but the warning factions of Mexico with their many uprisings during the past years has forced that country's production to a very low figure. But with these conditions removed and Mexico once more permitted to settle down, we can look forward to our southern neigh bor to do her share in supplying the needs of the world for silver. This will take several years before we can look forward to the time when har- money will again reign in Mexico, and until this time the big burden will fall heavily on mines of America. Both large and small producers find that the demand for their metals is increasing and are pushing forward with production plants in order to off set the conditions that hinder the pro- duction in Mexico.
 The mining situation in South America with it's rich deposits has not lived up to expectation, and they, too, are finding that labor and capital are not working in harmony, for there, TOO, we find that production has been handicapped somewhat on account of labor troubles, but are striving to pro- duce as much silver as they possibly can as they want their share of the profits that are being made in the sil yer industry. Chief among the South American countries that are produc- ing large amounts of silver are Peru, Colombia, Chile and Bolivia.
 On the other hand we find that the countries of the far East are demand
 ing silver in such large quantities which has caused the price of silver to rise to prices that seemed unbeliev- able several years back. Not only do they demand silver but gold as well. Among the countries where the de- mand is the greatest are India, China and Japan. In South America we find that they, too, are hungry for gold as we'll as silver, and during the month of January Argentine alone inn ported $13,550,0OO in gold. China's imports for the same period amounted to $7,489,873 in gold. The United States exports in gold during January amounted to approximately $47,816,- S73, while the silver exports aggre- gate $24,627,67S.
 A demand of greater importance is yet to come from Europe. Throughout all of Europe currency has been in Hated by the war emergency. England has printed O,0O0,O00 pounds of her currency notes and France has author ized 5000, ,00O francs of paper money. The imitation in other coun- tries is much greater and in many of the unsettled countries of Europe the paper money is of negligible value. It has been estimated that $20,000, ,000,- 900 of paper flat money has been is- sued by the belligerents during the war; therefore this condition would mean that there will be from now on constantly increasing demand for metal money or paper money backed up either by reserves of gold or sil-
 The enormous increase in financing demanded by the war and postwar reconstruction has put silver on par with gold. The war debts of the world aggregate $16s,OO0, 100000, and the annual interest on this war debt