The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1921-06-09

and increasing the prohts Of those
mining companies in the fortunate pO-
siuon not % have TO abandon opera
tons It's an I'D wind that blows no
one good. a situation bad for the
copper producer is beneficial TO the
silver producer. or course no one ex-
poets the present depression 70 con-
unue for long, nevertheless. IL would
already appear that silver repurchases
viii nov extend well into the fifth
year.
Principle Silver Producers.
Individually. silver mines are fairly
active. The largest ten producers Of
silver In the United states are the
Anaconda Copper Mining company.
the CHIEF Consolidated Mining com
pany the Butte 81 Superior Mining
company. tlfe Hercules Mining com
pany. the Hecla Mining company, the
Tinuc STANDARD Mining company.
the United Verde Copper Mining
company the Tonopah Mining com
pany the Tonopah Belmont Develop
ment company the and the Bunker
Hn Ok sullivan Mining company.
Most OF these companies. as is well
known. are lead mines and are stead
Iiy producing. OF the two most i'm
portant exceptions. the Anaconda and
Butte & Superior (the former the
premier silver producer in 1920 pro-
duced l3.7fS000 ounces Of silver from
ats manifold operations 10 copper.
lead and zinc The present rate Of
metal production means a reduction
" at least $500. 900 ounces in annual
production. Butte & Superiors com
piete curtaiiment has withdrawn
about 100000 ounces annually.
Englands Silver Payments.
ON May Is. 1921 Great Britain
paid an installment on the silver loan
made by the United states govern
ment the financial machinery which
enabled the Pittman act silver % be
passed in 1915 A total Of go
1855 silver dollars was melted IN
DER the act OF which $1,000 900 was
Used for subsidiary silver coinage,
eaving a net melting OF S259.12lss4
obtaining 20O.f14327 ounces OF sill
yer worth s20Of1A327. This figure
-epresents approximately the total
purchases OF treasury silver by the
British government
Regardless Of the exact amount Of
DE purchases OF Great Britain. s122-
l7.63s57 was held. until recently. by
DE treasury department to be the
mount stuI due the United States
government OF this sum s17s3357
las been paid with interest On the
emainder 1922 600 the British
.overnment has made two payments,
me on April Is. 1921. and the other on
lav Is. 1921 The first payment was
be- interest accrued on 60 per cent Of
DE indebtedness from April Is. 1919.
nd the other the interest on 40 per
ent from May Is. 1919 at the rate OF
per cent per annum. Interest pay
lents are 90 De made on each 18th OF
october November April and May.
e22 1923 and 1924 on the same basis.
calculated on the unpaid balance.
In addition 90 the payments Of in
crest the principal IS 10 be paid In
quail annual installments in 1921.
s22 1928 and 1924 in the proportions
Z 60 per cent on April and 40 per
ent on May Is of each year.
The two payments referred 70 above
ltaied s427000O0. s25620oO0 OF this
mount represents the payment on
.prH Is and the remainder. s17Os0.
DOB the payment on May IS last
Silver Certificates Come Back.
The scheme provides for the grad
AZ discharge Of the silver debt with
,terest and is independent Of any
eeotations for funding the British
ar debt 70 che United States Of ap-
-oximatelv s. 600 900 0O0
one of the visible effects Of the op-
ration Of the plttman act become
8parent 20 those residing in the
asst IS the temperance in circula-
on OF crisp silver certificates in var
us denominations AS silver was
cited and shipped . abroad in 1918
nj 1919 silver certificates were re-
red and their places taken by federal
serve bank n0tes-a step 70 prevent
ldue contraction Of the currency
hey are now reapparing in circula-
on By a reversal Of the process by
cans ~ which they were withdrawn