The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1922-01-27


that China and India are likely to be
the strongest, financially and COM
mercially, during the next few years.
Operation of the Pittman law in
this country has tended to maintain
silver at a higher price than it would
propably have reached without this
assistance and the country now has
larger reserve for sound credits
than it did at the beginning Of this
year.
Silver movements for the year
amounted to about S5,000,000
ounces from this country and about
66,500,000 ounces from Great
Britain. Movements in and out of
India and China were much larger
this year than last but these sta
tistics are not available at this time.
Japan also drew down a large
iAibuiii VI oilNtt ilolll thiS tpubft
Exports from Great Britain and this
country were only about 100000
ounces less than in 1920, the former
country having handled much larg-
'er amount this year In values, how
ever, the difference is much greater.
OF our exports, Asiatic countries
received about 100000 ounces,
Great Britain about lS,200, 600
bunces, and the balance of about
13,S00,000 ounces was distributed
among other countries, or which
nearly 100000 ounces went to
MaXico in the form of coinage
OF Great Britain's exports, more
than 53,O00,0O0 ounces went tc
China and India.
OF the imports into this country
about 94,000,O00 ounces, more thar
60,o00,000 ounces came from Mex.
leo OF nearly 100000 ounces
credited to Germany, all bat 1000,
600 ounces represents silver consign
ed as collateral and not sold.
|
Production for 1921 is smaller be
cause of the decline in output o
this country and Australia and. [,
a much more modified extent, b.
Mexico. Although purchases of do
nestle silver under the Pittman lay
will amount to around 5S,000,00
ounces, production will be less tina
100000 ounces. This decreas
chiefly due to the curtaile opera
lions OF the copper companies. Thes
companies, in 1920, contributed 2
per cent of the total silver output c
ounces. This year this output wi
be about 100000 ounces. Silve
ares produced by silver companle
/ amounted to 16,050,000 ounces
1920 and should be as large if M
| larger for 1921. About 21,400,00
| ounces of silver is produced as a b.
| product in lead and complex ores.
The difference of about TS,600.0G
between purchases by the America
| government and domestic productiC
| is supposed to represent delayed rea
| ization by copper, lead and 9th
| mining companies ana also small
| amount held as speculative accour
| The Government will, no doubt, e
plain this discrepancy later on.
/ Production of Mexico, the large
! source of silver prediction, is es
mated by us at 62,O00,000 ounces,
i.662,253 ounces less than in 1920
Output of Australia is again like
to be around the low figures of 49,
1t was less than 100000 ounces
1920, compared with 7,430,770
1919.
Canadian production is likely to
around 100000 ounces, compar
!. with l3,330,357 ounces in 1920
: That production held in this cou
try even at the lower volume "
- due chiefly to larger operations in
:" new and old camps of Nevada.
the same reason we may expect
continuance of this record this ye
II especially at Tonopah, Cortez, Diyi
and Canderaria.
= In attempting to determine futI
trend in the silver situation, 1t is W
to remember that silver is both
commodity and monetary mediu
Sensational developments are Xix
at any time and especially If any
Europe. This is equally true of &C