Mohave County miner and our mineral wealth., 1922-03-31
BRITISH INDIAN OFFICE ATTEMPT TO
 THROTTLE SILVER MEETS DEFEAT.
Legislative Assembly Rejects Export
 Premium Plan

A"h
 The legislative assembly of India this week punctured another attempt of the British Office to interfere with the silver position of that country. A proposal to levy an import tax on sil- yer brought into India and to provide a premium equal to the import tax on all silver shipments out of that coun- try was rejected. It is said that this proposal had been somewhat quietly added to the revenue bill.
 Samuel Montagu & Co.,, of London, stated on March 9 that " the contin- uance of inquiry from India doubtless arises from the native agitation in that country, a disquiet which inclines the people to hoard the precious me- tal."
 Improvement in the Indian situation resulted in higher silver prices dur ing the week. Exchange rates be- tween London and India were much higher beginning on the 22nd.
 Sales in foreign silver were made at 66 cents which is the highest since February r. Shipments to London from New York continue in large vol ume. In February they amounted to $1,921,715.
 India is not only making many de- mands in London for silver but IS ac- tive in the New York market.
 China is said to have been seller in the London markets but has been buyer in New York. Exchange rates on Hong Kong and Shanghai are the highest in several weeks.
 Silver stocks at Shanghai are larger.
 China's silver purchases in this country since the first of the year are about $6,OOO,OOO against one-half this amount for the corresponding period last year. India, likewise, is buyer to the extent of about O0,OOO com pared with $962,S99 last year.
 It is reported that the Indian leg islative assembly has rejected the ln- creased excise and salt tax proposals When cotton import duties were re- gently increased from Il to 15 per cent a tax of 71s per cent was proposed on domestic consumption of cotton goods This will be even more unfavoraple to Lancashire interests.
 Wheat-sown area in India is 20 per cent larger this year than in 1921 but is 5 per cent under the previous D. year average. India had to buy large amount of wheat last year.
 Burlap exports from Calcutta to this country and Canada in February amounted to 7O,4Oo,O0O bales. Last year monthly averages were 1o'ooo'- 0OO bales but February, 1921, ship ments were about s2,3OO,OOO bales.
 China's consumption of American cotton, 6 months ending January ol, amounted to 71,970 bales compared with 2O,9O4 bales at the end Of Au- gust, s,31s for the January, 1921, per iod and none in pervious period.
 Export season for Chinese hide snip ments has opened and is said to De exceptionally active. ,Goatskin prices are exceptionally high.
 Exports of silver and gold rom Manchuria have been prohibited by General Chang Tso-lin.
 Equitable Trust Co.,, of New 1ork' has contracted with Columbian Minis trv of the Treasury to furnish tne tne Columbian government with o,ooo'ooo siIver coins, denomination of 50 centa- vos O500 fine. The minting Of these coins is being handled in the U. D. Mint at Philadelphia.
 Purchases of domestic silver at the s1 an ounce-net price has been put 17O GOO ounces in the past week. TO- tal for the year is 11,7S2, ,72S ounces and combined total, 100, ,247,6oS ounces Total order is POS, s,o0o,0oo ounces;
 Gold shipments, London to lnaia' > since the first of the year, amount to about s3,0oO,OOO against sA,345'S74 to this country. No shipments have been made to this country, however, since the middle of February. Since Marcn 1 we have shipped more than 1oe'oo' to London.
 MQrTle0