The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1920-12-29
RUSH TO Silver
MINES ON AGAIN
Mining Camps Long Asleep Are
Threatening Renewal Of For
mer Activity.
SCARCITY Of METAL IS CAUSE
Salt Lake City Thronged With Pros
pectors on Way to Mountains
Demand 10 Greater Than
Available Supply. =

Demand 10 Greater Than
Available Supply. :
Salt Lake City. Utah.-The quest
Of silver, which played SO important
q part in the development of this
country, is again attracting large num-
bers of fortune-seekers to the West.
For the first time in many quiet years.
Salt Lake City Is thronged with pros
pect0rs on their way back and forth
from the mountains, where mining
camps that have slumbered longer
than Rip Van Wrinkle are stirring in
their sleep and threatening renewal
Of their former activity.
Silver is once more coming into Its
own. The reason Is that the worlds
demand for it is much greater than
the present available supply, which
condition is sufficient to keep the price
Of silver at a fair figure for years to
come.
One hears much excited conjecture
as to the future Of the metal here In
Salt Lake City, which is the greatest
smelling center in the world. As
such, 1t receives practically all Of the
silver ore produced on this continent
ore from Mexico and Canada as
well as that from Utah, Nevada and
Montana mines. The largest silver
mines are in Mexico; the largest sill,
yer mine In this country Is in Mon
tana, and the second largest in Yah.
Some of this product is shipped by
way Of San Francisco to the Orient.
but the greater part goes to London.
The history Of silver of its rise and
fall, is curiously romantic. Once a
king among metals, fought for by po-
tentates and pirates. and capable Of
drawing an army of fortune-hunters
across continent, silver tottered and
fell, after demonstration. in 1873, un-
til dozens of silver mines were COM
PEELED to close down. Before the late
war the owner Of a silver mine was
not to be envied. He was In the same
claims today, who cannot afford to
operate them. Mining costs were too
high, and the price of silver too low
The greatest demand for silver has
always been in the Orient. There are
only two great countries in the world
which are not on gold basis, and
these are China and India. They are
the chief so-called silver nations. This
is because they are heavily In debt
to other nations, and must trade with
them on whatever terms their credi-
tors see At. II China could succeed
in developing its splendid natural re-
sources so that 1t could get out OF
debt, It could demand payment for its
goods in gold. But until then it will
have to take silver.
India, the silver Sink.
In India the coinage Ia entirely Of
silver, which is mined by the British
government. The demand for silver
for personal ador6nent Is also very
great in that country, owing to the
preference Of the people for carrying
their wealth about with them. Thiev-
cry fourishes SO successfully in India
that this Is an almost necessary pre-
canton. At the cry Of ''thiefr' in the
night, the average native family mere
ly gets up and runs, carrying its
riches in the form of bracelets. rings
and chains. The same custom is OBJ
served in certain parts Of our own
West, where the men carry their
wealth not in the form Of silver, but
of diamonds.
The silver authorities in Salt Lake
City speak Of India as the silver sink.
They say they don't know what be-,
comes of all Of it. but that no silver
which ever goes into India ever comes
out. While this is slight exaggera-
tion, Of course, 1t Is true that great
deal Of metal is boarded from gen
Grafton to generation, through which
1t is passed down much in the same
form as the families Of other nations
pass down their real estate. Widows
In India, for instance. have no dover
rights, but they are permitted to keep
their ornaments. which naturally
causes the native women to demand
as many silver necklaces as possible.
All Of the Indian supply of silver
coinage is provided by the British
government, which therefore has al
ways been interested in keeping the
price of silver down. For when the
price of silver rises above the value
Of the Indian roupee, which is "a
cents, everybody Immediately melts
his supply Of roupees and sells them
for bullion. There is one group Of
four brokers in London which has
been setting the price Of silver for
the rest Of the world for long period
of years. One firm Is in it's sixth
generation. They meet at IL O'Clock
every morning, and exchange orders.
Some, have buying orders and some
selling orders, and on the basis Of
these orders they fix the price Of sill
yer for the day.
War Prices Of Silver.
The custom suffered severe check
with the war. Then the British gov
eminent and the other allied govern
mpntS were In need OF unusually largo