Show SILVER SILVE SITUATION CONTINUES I IMATER MATTER MAilER MATER SPECIAL OF SPECIA INTEREST TO ALL WESTERN MINE OPERATORS I Shipment to Calcutta India the past few weeks of or silver sl cr from rota New ew York assay asa office and aut a to total tu- tu tal lal of ot more than from Philadelphia Phila Phila- In November attention delphia No on the rapid dissipation of ot what vas as vas the worlds world's greatest stock of stored silver the silver the hoard of ot old oll sl er sliver silver dollars I In the this United States 1 treasur treasury The Thc I United States State K mint reports it has melted melt melt- mel mel-I e ed down slIver silver sl er dollars up to October 1 1 1918 It I is that that the mints of or em eif- eif el I tente countries have been coining each year ear since Ince 1914 new silver coin exceeding exceeding exceed exceed- I d-I ing by to 5 ounces yearly earl the entire entre worlds world's production of or new silver silver apart apart Ilver-apart apart from huge huo exports to the orient In settlement of or trade balances bal bat ances and apart from upwards of ot 30 ounces required In the photo an and plating and other Industries ant and arts The tremendous coinage of or silver silveris sl cr l is 11 r of or course due lue to the withdrawal of ot gold old from circulation according to the Financial Review lc e The excess s of or silver minting over worlds world's new ne production and arid th the necessity sky sity Iy of ot continuing hea heavy col coining ln heavy ha exports and silver consuming Industries industries Indus indus- trl tries necessitated the worlds world's drawing upon some accumulated reservoir of or silver sl The lar largest est stock tock or reservoir of available a silver i er was about old silver sUver dollars In the tIme United States treasury treasur the backing of ot our silver lver certificates and nd containing each about 76 of ot an ounce of or silver The Walsh Yash act of ot A April 23 23 3 1918 1913 came to the rescue escue of or the thio allies ames and provided pro for tor the melting down own of I of or the tImo American silver dollars dol dol- tars lars lar In this lila reser realizing that I II I 1 worl this alone would woul not net meet the I demand demal for tor silver the law Jaw further J I placed a limit or 01 maximum on silver I I metal to market for tor IL si runaway new production prevent pre and ind ant down melted down old old oll I private silver silvers crl and restricted exports The TIme melting down of ot treasury and and I meling t other old silver and ant the tho exports export to our I allies P and the orient orent assumed such prodigious prodigious pro pro- I proportions that a few tew weeks ago the federal reserve reser o boards board's silver t tI I committee Imposed stringent restrictions I against further export of or silver This was after aCer licenses to export OS- OS I of ot silver or a month I Iha had ha been applied appel for In the three o. o I months to August 24 24 4 InS 1918 These ex exports exports ex- ex ports were at the rate of ut I i iThe ounces tier per Ier annum The Tha worlds world's production of or new sliver j i Is only ounces yearly earl of ot otI Which o cr ounces Is not I available because of at absorption In the tho I industrials and anti arts I From the th time the Walsh Walsh-Pittman act was passed April 23 23 3 l 1918 IS there thero were 1 I j melted G silver dollars to July I 1 1 In sixty eight days or a little over o overt I d dally daily lh From Froni Jul July 1 to October October Octo Octo- ber her 1 I there were ere melted meled d down wn more morr In two ninety two da days dam or ur over o er daily dal With dollars dol dol- ol- ol lars Jars melted down to October 1 the thc re remaining re- re dollars will wl have han been heen down own by January 1919 if It the rate of oi melting incIting up to tl October be continued |