The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-07-19

along lines appealing TO them.
Probably great diversity Of re-
quirement would be found. will
suppose them reconciled each with
the other; then the association
might easily start with possibly
20 per cent of the worlds total
output of silver; if successful.
most of the companies producing
the remaining silver would be in
duced to join and in few years
the association might hope to
control about so or 80 per cent of
the worlds net production"
Taking up the second question. Mr.
Brownell points out that according to
most dependable estimates. between
ten million and twenty million ounces
of silver are consumed in the arts
which in effect destroys the silver. and
that from twenty million to thirty
million ounces are used in the manu-
facture of articles which do not de-
stroy the metal Statistical tables are
given showing the amount of silver
used for coinage in the United States
and the world during the past eight
Years. and the consumption Of silver
for coinage in all countries of the
world in the years 1920 and 1921. on
these figures Mr. Browneu makes the
following comment:
These tables suggest the con-
clusion, highly important, if true,
that, deductng from the worlds
production the amount of silver
consumed in the arts each year.
coinage requirements are such as
to demand all the silver produced
from the mines, and in some years
to call for mnting of silver
which has been used previously
for commercial or artistic pur-
poses in some form or other"
As showing the absence of relation
between production and price of silver /
Mr. Brownell gives figures showing /
world production and average price /
Turing the past ten years This APP
,arently abnormal situation he ex- /
,lains in the fact that the larger part
If silver is produced from ores bear
ng lead. copper, zinc and other met
Is and that production is governed
" the profit yielded by the combined
mineral output; further. the demand
rom India and China materially af-
acts the prices that rule in the silver
iarket and finally The ultimate de-
iand for silver is subject to consider
BILE fluctuation. while production is $
slatively steady and producers insist I
n the sale of the silver as soon as it ,
available for market.
To finance the association. Mr.
roWnell suggests an organization
ith capital of 100000 preferably
100000 provided by the silver pro- ~
lcers. The association might prop
ly charge "A commission of or
nts per ounce, which with an aver -
e production of l75.oOOOOO ounces ~
,uld yield revenue of $1.75O.OOO to "
100000 per annum. sufficient to take ~
re of sales commissions. actual ex- -
nses and build up working capt. &c
. In addition. the association should w
in position to borrow as high as ''
100000 in short time loans. which
uld be retired as the silver is sold.
{ he does not think the association
uld want to accumulate more than
lr months output at any time. say
rty million to sixty million ounces. -,
conclusion Mr.. Brownel says: al
Assuming the requisite sup nc
iort of the present senate COM ST
nittee i'm favor of such an organ ST
zation, and the accomplishment on
f such change in the law as pre- TT
umed in this article it seems foi
ute possible that a silver export tai
ssociatiOn can be worked out. see
aving the friendly cooperation do
nd moral support of the govern We
tents of the United States and of col
reat Britain, and of the import VIII
Mt financial interests of each of by
lose countries. particularly those an,
isociated in any way with the Def
andling of silver. All this ne oce
,ssarily would involve an enorm- 7
Is task but it is not beyond the fac
nge of feasibility. lau
81 venture to present these Sna
ews in the hope that the statis- Wo
IS given and the opinions ex- con
essed (many of which are obvi- the
sly personal only may be of Sou
me slight value in the general und
of the subject Doubt ami