The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1920-07-01
GOVERNMENT IS BUYING
SILVER At SlPER OUNCE
LOCAL OPERATOR GETS QUICK
ACTION THROUGH CON-
GRESHAM SMITH.

gardng the purchase of silver at 81
per ounce as required by the Pittman
act. G.. Scott Anderson, manager Of
the Big Creek Mining company, wired
Congressman Addison n. Smith to
bring the matter to the attention OF
the secretary of the treasury and urge
action that would insure American
silver producers Of the market con-
templated by the Pittman law. AS
usual i'm such matters, Congressman
smith acted promptly and on June
is received the following reply from
ID +. Houston secretary of the treas
uery:
The Secretary's Letter
81 received your letter of June 18th
with the enclosed telegram from G..
scott Anderson. manager of the Big
Creek Mining company at Wallace.
Idaho. which return herewith.
hand You herewith q copy of a public
statement issued by the director of the
mint today concerning the revised arr
rangement which have been made
dealing with the problem to which Mr..
Anderson calls attention believe
that these will solve the problem rhe
treasury and mint have been solely
concerned to make certain that the
benefits of the Pttman act should in
nure to American producers i'm ac-
cordance with the terms of the act and
the affidavits which have been pre-
scribed are for that purpose"
From Director Of Mint.
The statement from the director of
the mint to which the secretary OF
the treasury referred follows:
Under the express terms of the
Pittman act. silver purchased by the
director of the mint under the act at
the fixed price of 81 per ounce one
thousand fine must be the product
both of mines situated in the United
states and of reduction works SO To-
Gated AS previously announced the
director of the mint has received
standing orders from the secretary OF
the treasury to purchase silver under
the act mp to an aggregate amount OF
207. 900. 600 ounces. delivered nj the on
ton of the director of the mint at the
assay office in New York, or at the
mints in Philadelphia, Denver or San
Francisco, and is making such pur-
chases when satisfied 10y clear and UNI
eQuivocal proof that the silver is the
product of mines situated in the Uni
ted States and of reduction works SO
located Forms for such proof appro-
pirate for use i'm case of silver wholly
produced and reduced i'm the United
states. without admiNture of foreign
silver were furnished to said assay
office and minis under date of May 15-
1920
IN order TO cover the practical sit
uation prescribed by the fact that "a
large proportion of the domestic pro-
duction of silver is smelted and re-
fined i'm conjunction with foreign sill
yer and comes from the rehneries as
part of a mixed product of domestic
and foreign silver the director of the
mint is further prepared to purchase
under the act silver which forms part
Of a mixture of foreign silver and do f.
nestle silver up to the proportionate /
part of such mixed product which rep /
the product of mines located /
within the United states and of re- /
mction works so located upon clear /
md unequivocal proof as to the pro-
)ortionate part of the mixed product /
which represents domestic production.
rorms for such proof, appropriate for
Use in case of mixed silver will he
I,fff q
hints and i'm addition to a general af-
ldavit from the vendor i'm each case
vim include supporting afidavits from
he miner smelter. and rehner togeth-
n with such sworn statements and
Exhibits from their books of account
s maye be required by the director of
he mint The form of general af-
avit from the vendor and of support
ng affidavit from the miner are APP
ended hereto for the information OF
n concerned: fun information as to
he additional supporting afhdavits
nd proof will be available at said as
nv office and minis. Deliveries or
liked silver under the act will he ac-
opted upon the filing of a satisfactory
aneral affidavit by the vendor sub
ct to the latter filing of the neces-
Try supporting proof lt viii be not
! that as to mixed silver already pro
iced and refined IL viii be necessary
show that the silved mined i'm the
nited states which enters into the q
liked product. was delivered TO re
iction works located i'm the United D
ates since January IA. 1920 It will #
noted further that in order TO have q
that the benefits of the 2
ttman act go to American pro
Icers. for whom they were intended q
e director of the mint viii require g
connection with the purchase sup %
rting afidavits from the miners to 10
e effect that settlement has been c
lde with them on the basis of the ~
ed price of 81 per ounce. adjusted t'
the equivalent price for silver 500
e and to the cost of delivery rehn-
y to mint" CO
BEALE AT WEISER. f,