Salt Lake Herald-Republican | 1918-02-24 | Page 47 | India Will Soon be after Silver

INDIA WILL SOON BE BEAFTER AFTER SILVER to rep reports rtH from Washington ton that thata a price of M U an ounce has hag probably alii ably been agreed on K Jt it may bo be recalled that Lori J Reading the new British ambassador has hns arrived nn Washington In Y ton with a member or of f th thu tho British h council for India on his numerous staff some same action may be he expected In fixing the official price of or silver which has Den hen been moro or 01 r lM less RS stationary for Cor some weeks near 86 cents per ounce I Meantime however as the result of ot British and I American and Japanese em em- coin Is at a premium of or 25 per cent In tho Chinese pORI posts poss much to tho the embarrassment or of the official class and of oC trade In general That India will soon he hc on the market mar mar- ket for silver on a scale scalo Is Indicated indicated In- In h by reports Sent out t from Crom cm London Lon Lon- don dm that there wn was an nn apparent not net export of oC f silver vcr t from India In 1917 This included shipments n ot of f rupees to Meso- Meso n 1 and elsewhere 8 silver coin minted at 1 Bombs y on behalf of the thet Egyptian g government and shipments of rupees t to a bank of ot East Africa for tor government account Usually there thero Is if a a. c considerable net Import The Tho In Indian currency report explains this net et export to the thc remarkable remark remark- able abie enc between n London and andin Indian prices or of f es bar Var silver There was a in lS lal large e spread between the tho price of ot foroi foreign to n hi bo be n made mado silver 1 VC for in m India and nud the Premium replenishing stocks by fresh Importations The Tho Import of or silver was waa thus tutus rarely profitable and as a further consequence thoro was a notable notable not- not abi able of tiC speculation Tho i Internal demand for silver sll for or use in the arts etc wa was to a n very largo extent met b by tho tupp supply of oC what are known as country bars hars that is Is bars bar made up from old stocks of ot jewelry jewel jewel- ry n etc