Weekly journal-miner., 1920-07-07
SILVER METAL TO CLIMB MUCH HIGHER

While United States government busy buying der the Pttmah American producers preparing for silver boom which expected after the available surplus of tn metal has been reduced point where any increased demand could easily send the price of the metal higher ves
 Silver producers believe that the depression which thu industry has suffered and has without slightest of confidence has been good thing for the industry the whole For months the industry has enjoyed long period of perty It has had the of all many parts of the world Many people believed that the price of the metal would reach figure below the dollar again. believing that the demand for the metal large for opinion But great countries of the East dropping of the market slowly the German melt large quantities of the metal for shipment the markets of London which caused flowed market for the metal and naturally caused big drop price Then again heard of the many of the strong methods that employed in bringing the price of the lower figures order these things have proved the producers that the sailing smooth expected and that the future producers have learned that conservative policy will be adhered
 Now that the government has begun take in its supply of the metal the dollar price guaranteed under the Pullman silver has been flowing into the hints large quant ties
 For the present the hints will the silver purchased While the Putnam requires that the silver dollars melted be reconed that the end of the there shall be many silver dollars before the act passed time limit is set for the coinage be completed In view demands upon the hints for subsidiary and minor coins and the resumption of gold coinage replace exported thought coinage of silver dollars may be deferred for the present.
 Of the 15O0OOO of silver by the American Sme ing Refining Company the director of the the Pttman act 100000 the mint at Philadelphia and 300O00 the mint San addition reported that the director purchased 100000 from other reduction plants Deliveries at the Philadelphia mint started last week Payment silver made by the hints where the metal is delivered by checking against the rasury bullion fund.- which is fund of unlimited amount out of which the hints pay for gold and silver bullion taken The fund in fact revolving fund convert metal into money the expenditures for gold and silver being by the credit of currency In effect pays for itself
 For the 20000OOOO odd sold by the treasury Geat Britain the United States government received $101 2I The proceeds for the sale may credited the of the bullion fund in anticipation repurchasing the silver sold the fixed price of $1 required by the Pman
 As generally expected there silver markets in New York for domestic production for foreign offerings This arises from the fact that the market has been carried below the domestic market is arbitrarily fixed about $ per under the operation of the Pittnan purchase law.
 Recently when silver the dollar mark there was only market that based upon London quotation in spite of the United States treasurys standing offer This was due the tcaury requirement that the silver offered to it should be entirely of bonadc domestic production was impossible to comply with the regulations the purchase law became ineffective.
 The treasury has modified its regulation that vendors o the silver need only furnish afhdavs regards genuine of that part of the silver coming from American silver will be purchased $1 per about per for mint adjustment and costs and price that part of silver which is of foreign origin This inevitably establishes dual market for the white metal as long as this arrangement in force the American will always be able get 99 58 per for his The arrangement also has hc effect of stimulating outside or foreign silver market.