Tombstone epitaph., 1922-03-12
FAR EASTERN INFLUENCES
 ARE GREATLY CONFUSED
 IN WORLD SILVER MARKETS

end of the week when sales were made at 6i 1-2 cents India is the solt support at present
 The British-Indian office has been adding to its silver coin and bullion in India" reserve during the past four weeks and these reservesh have increased from 13.32O,0O0 to 14.S5O.. eco rupees. Cotton movements at Bombay are exceptionally favorable, those for the past week amounting to s5.0o0 bales of which 5000 went to Great Britain ,against only 5000 since last Augusta and 29,000 to Japan and China. Total since August is 1900, 600 compared with l.2ii GOO in the corresponding perior of the previous year. Al New York i'm proyement in the burlap trade is re- ported
 Indian buying of gold has been a conspicuous feature of world money markets and it is believed that this largely represents speculative parti- cipaticn in India and in anticipation of a recovery in gold premiums later on. On the same premise these operators will sell this gold at the higher price and repurchase silver
 The Indian office at London las is- sued statemeAt showing increase of II to 15 per cent in ad valorum import duties into India and 3 l-2 to 1-2 in common excise taxes. Import ra:es on machinery. iron and steel and railway material is also increas- ed from 2 1-2 to 10 per cent
 The cotton excise tax is aganst do- mestc consumers and the machinery, iron and steel import tax will operate chiefly against he interests of this country.
 The failure of China to appear in either the New York and London markets is somewhat surprising but political conditions continue greatly d sturbed. Silver stocks at Shanghai are also quite large. They amount 70 about 36.sO0,O0O ounces in sycee. 23,oO0.000 dollars. and 1.1So bars. These stocks. however. are not as large as those of last May when they amounted to 4s.e00, ,000 ounces in sy- cee. 39,OO0.o00 dollars and $50 bars.
 A general strike of Chinese sea ..r.. b.s also interfered wi.a Far C,s.srn trade and especially that rass: through Hong Kong None tary JOSS so far is estimated $40, 0,000,- 900. It is quite likely that China will be in the markets within the next several weeks.
 Commercial use of silver doreign origin) are small since January l but this is natural at this time of the year.
 Purchase of domestic origin under the provisions of the Pittman law. however, are small apparently indi- eating reduced production in this country. For the first two months of this year they amount to 6.031.74S ounces, compared with about 10,0oo.- 900 ounces in the corresponding pe- riod of last year. Around February 10 about 100000 ounces were secur- ed in two days but other than that period weekly purchases are less Boo, coo ounces. These transactions are at the rate of 36.eo0,ooo ounces yearly.
 Output of Mexico has been small so far this year and these two factors would have an important influence on prices, assuming, of course. that they are to continue for the next ten months.
 London reports that no further gold shipments from South Africa are expected until the conclusion of the Rand strike. For the week ended February P there were no gold ship ments from London to this country
 Gold secured by India in London since the first of the year was about sl,sso,0oo and in February about $s' 1000. From this country India has received about ss.oOo.ooo-
 National Bank of Commerce, New York, reported that 1t will receive on