The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1922-10-05

ed until 1916, when it reached $4,000,
600 ounces. Since that time it has de-
creased to 5s,OOO,OOO ounces in 1921.
80 the average annual production
of silver throughout the world may be
placed at 1s7OOO,OOO ounces and the
average annual production in the Uni
ted States at approximately $4,000 600
ounces.
"These figures clearly disclose the
scarcity of silver throughout the
world. They demonstrate beyond argu-
ment the impossibility Of greatly in
'creasing the production
NOW, let us consider what is the
demand for silver. We have already
considered the demand for silver in
India. which came to a crisis during
the war.
china's Potentialities.
Economists all know that China
measures all values by silver in the
form of bullion. Commerce can not
be transacted in China except through
the medium of silver. The demand
for silver in China has always been
enormous. This demand is now de-
pressed because of the failure of crops
in China and the deplorable economic
and political conditions existing there.
And vet, it is evident that China is go
ing to develop rapidly in the next few
years and with this development will
come a greatly increased demand for
silver.
"Silver is the money of general cir
culation in all of the South American
republics. AS the commercial devel-
opment of those countries increases
the demand for silver there must nat
urally increase.
1T is admitted that in India and
China are the largest markets for sill
yer. And yet in our own country dur
ing 1920 the director of the mint pur-
chased 100000 ounces of silver for
subsidiary coinage, nearly half of the
total production of silver in the United
States.
Europe Melts Plate.
"AH of Europe uses silver for sub
sidiary coinage. During the war there
became such a tremendous demand in
for silver coins with which TO
pay certain of their soldiers that con-
tinental European countries were
to melt up silver plate to
replenish these coins and when the
armistice was signed these countries
were denuded of silver
Did they want the silver? Did
they need the silver? Witness what
happened Immediately after the sign
ing of the armistice. These countries
went into the open market of the
" orld, to complete in the purchase of
silver with China and India. This nat
Iral demand and purchase carried the
price of silver above a dollar an
ounce, it reached it's maximum price
IF S1.3SA an ounce on November rs,
1919.
Then the price commenced to re-
:ede until the month of May, 1920,
when the worlds market price of sill
,er went below 81 an ounce.
Chinese Market Drops.
What was the cause of this sud
len drop in the price of silver through
nut the world. China was racked with
anime and torn to pieces with politi-
al disturbances. Germany being
Without gold or credit, was compelled
o remelt the silver coins that she had
aid in Immediately after the armistice
nd dump such silver bullion on the
market at any price she could obtain
ecause it was the only thing that had
value with which she might pur
base in foreign countries. Other
European countries did the same
hing. Even India, for the first time in
lany years, melted up its silver and
brew it on the markets of the world
or the same reasons.
"The depression, therefore, of silver
Tas natural, And yet all of these
ountries must again supply them
elves with silver for subsidiary coin
D soon as they have credit or pro-
ucts with which to buy silver. Not
My that, but as the countries of Eur
pc become prosperous they will de-
re and undoubtedly will replace their
liver plate they melted up during the
ar and during the last several
onths.
Use in Arts.
I'm the United States alone during
lie past year there was over $4,000.
10 ounces of silver used in the arts.
it not natural that when European
'untries become prosperous they will
sc their proportion of silver in the
is? The high price of our silver, like
e high price of many of our our
her products, must wait upon the
of the rest of the world
hey will buy our products when they
n sell theirs.
"rhe moving picture industry is to-
" one of the largest users of silver,
ID this silver when once used is de-
royed and goes out of existence.
lis industry is increasing demand for
YER
Silver Bound to Rise.