Show SILVER NOW NO SOON WILL COME INTO ITS OWN ON Production of White Metal Can Be Conducted on on Manufacturing Basis Dollar p per ounce ounce r-ounce silver Is now assured fissured The suspense which has IH prevailed In the I j silver sliver market marlet and among silver sliver PrOducers producers pro PrO- i for several months past has been I lifted On Tuesday Senator Pittman of Nevada Introduced in iI the tIe United States senate enate nat the long expected bill dealing with the silver question By the terms ot of the bill out of ot the thc standard silver dol dol- mrs lars now In the United States treasury n a as a reserve C against the silver certificates cates outstanding will be bc melted and null converted converted con con- into silver bars The Tho hemon will ill willbe be he used for export to pay Ilay trade i i. i bal balances l- l ances says aS a'S the tine Industrial and Mining Age A e H Ky B fixin fixing the price at 1 forel foreign n ex exchange exchange ex- ex change will be stabilized which Is a matter of or considerable International importance im inn- at this tinis time The metal will also be used to meet the unusual de demand demand de- de mand Inand for tor silver for subsidiary coinage now existing in iii the United States due to the unprecedented business activity I Ii 11 i this country The silver withdrawn from the treasury treasury treas treas- ur ury will be replaced from time to time by purchases In the tile open market marl I IThe The melting inciting of silver dollars will provide ounces of pure silver The American production amounts to approximately ounces a year e r. r The worlds world's production last year Veal ear Was as 1 ounces Tho The action taken b by the United States government was made absolutely necessary s S- sary sar by b acute silver stIver shortage e now existing Were ere the market depended on onto onto onto to supply tho the demand there can be no doubt that this tinis plus plU the efforts of the government to replace the silver silve taken talen from the treasury would advance th tine the price to a great reat deal tI al more than 1 an ounce This condition threatened to disturb ills dis foreign exchange especially II with the orient Tho The bill introduced by Senator Pittman n has the backing l of the tine administration a and andIs andis I Is expected to become a a. law at an ear early I da date te In iii framing framin the tine bill Senator Pittman h d the tine collaboration of Director of at the Mint lInt Bilker Bither Some months a ago o a series of or conferences were held between en Mr 11 Baker Baler and various committees representing represent represent- In ing ng tho the western silver producers It v was as a agreed reed that the price should be fixed at atH 1 H and this was waK accepted by the silver sliver producers as a matter of patriotic duty It Is thoroughly i- i realized by bS' all in hose those Int re ted in the production of ot the tine metal that in un the tine natural cour course e of ot events a hl higher her price could reasonably reason reason- ably ihly have been expected but bul In view of ot the necessities of ot the government It was decided ed to agree upon the basis of ot I 1 SI Ier per ounce I Compared to the average e for or the theten ten year period prior to the war of ot about iS 53 cents an au ounce the 1 1 price affords the he sliver silver producers a satisfactory measure measure measure meas meas- ure of profit pronto Not ot only is this true but Lut butt It t also g 1 gives s to the Industry a stability which it t has never be before foro enjoyed The production of silver can cain now be becan carried can led on on a manufacturing manufacturing- basis hasi The rime establishment of the tine 1 price Is like IBe having laving a lon term long term contract for the sale of Df a product and the only fluctuating Element clement to contend with is that of or costs which are pretty wen well established in most mines nines although gh It is possible that a furher further further fur- fur ther her advance In iii the price of supplies and labor abor ma may be witnessed In any case knowing exactly what price irice will bo IJO secured for the metal en- en enables ables the producer to calculate with certainty certainty which ores may be utilized for forn profitable n of liable operation and further enables reparations preparations to be hij made for operations on m a large lare scale with tho the assurance that adverse market conditions will not be Injected and cau cause e a possible loss after new equipment and Improvements have ha been installed Note The Note The above o w was written before the he Pittman bill was amended d to provide for or the melting of Instead of silver dollars and which still sUB further benefits the tine sliver silver mining In- In |