Tombstone epitaph., 1920-10-31
THERE WILL BE 35.0oo,ooo
 OUNCES OF SILVER
 THIS YEAH

small bankers and spectators al Shanghai operating for lower silver prices created a break from s7l2 10 s3 l3 cents. foreign origin. between Octoebr and october H. This weel; he market changed suddenly with recovery Of S7 cents The Shanghai repor, WAS that banks here had red fused 70 carry silver stocks held by speculative crowds and that in forc. ing The sale of this silver some of the smaller banks and the spectators had not only sold the amount carried. bu, : the equivalent Of abou; s60oo 000 ad- d;-ional OF short sales T. was also reported october E that the Chinese republic had fallen. bu; this repor, came rom Shanghai rather than Pc. king and was not generally believed.
 The Nev York bid price. foreign or.s.n. Was higher during the wee; ,a1a in London F The oyersale, O. short transactions are as large as re ported rhe effort to buy this back is bound 70 produce a much higher ad vance in foreign origin silver The pr.ce or domestic origin s.ver 1 of. course. remains a. s1oo net.
 Th~ min, Uni. week purchased 276, o11 ounces a; san Francisco. To.ai to di,e. i74e4.Gt7 ounce.
 Gold ani silver expo-., and in po7=, fr7m ;h.- country for the tinsl ,4a day, ot September snow tha. CA.4a received s245.245 and Hong Kong Sao'5o1 silver Cod shipment, 10 China. however amounted 10 sl. -o9ooo and 70 Hong Kong. s23S.75o Th., excess Of gold for ,his period i- pas' 1s ;he speculative position in Saaasla. Total silver exports % september 30 are ssSGs2 s27 and i'm. DOTS s73.iss.s29.
 h he silver and Far East eXchang- weakness the seyerest results were shown in British Indian rates. Or oe.ober II the rupee rate still re. ma.ned around 2oo0. although the Shanghai quotations were up to Io2 co The situation in India !s perplexinr Political agitation aga.nst the British empire continues and th.s .u.erferes wt.h exports oc.ober is the begin n.ng O: he Far Eas: expor; season. Tle Chinese cen,9r,oriam n New York :h.s week .s expec,el Q have favorable influence on china.s Nnaa. e.a. position. e.a~ria..y. 5u. silver ra- qm-amza;- rom .aa: co4n,ry between ION and ,ae eal o. the year anI mos, iike.g n early November. are hound :o prolae~ q 'l-e,- demand shan ha. el.s,ed any lime this year This i. '@e opinion Of he leading experts on Far Eastern trade
 The '4s. weekly ,,a-emea. of the ariacip4, bank. of Europe shows farther gain n silver holdings o, s2ee5oo The gains were by the banss os Switzerland and Belgium The weekly s;a,emen, of 'he Bank os France. published October II. shows an Increase of s.729.a9s fl. les iu sf yer
 C Fini,ay SA!rras. director of sta .!c,ics 70 the Indian government. ha, aiv.sei ,he International Financial Conference at Brussels that th.s years silver production is likely to be around ls5.o0o.oo0 ounces. t will b. positively surprising if it amounts to this much World production las. year was around I75.o0o.o0O ounces and i; is likely 10 be about 162, 000. 900 ounces this year. T. was ls2 ,000,0O0 ounces in 1917 and 16l .OO0,O 900 ounces in 1916. The presen, world production is corl. parable with the record Of 223 100000 ounces in 1893 Indicated world ou.. pu, this year Of lsO,ooo,OoO 70 1s2. oO.Ooo ounces woa,d De the lowest in more than 20 years
 Mr. Shrras presents his estimate of ls5,0Oo,OO0 ounces as justification for the adoption of a fixed price on si' Yer in all member nations of the League of Nations