Show Silver Metal Mines Now in Demand in All Marke vi bg White Metal Hods f k Strong Position in Business lof World lorld 1 shortage hortage of Metal i This Year ea r Due to Strikes Demand i Causes Activity of Mines 1 in Utah and Nevada M Many i Old Camps Revived a u 14 uZ 4 By Percy M. M Cropper of t the SOs has there been the for silver silvermines silvermines rj oT since sinco the latter latte part pare e been demund Cr a t mines that there is 15 today Every old silver camp in the state of Nevada 1 i is being stirred to activity hundreds of old shafts and anil tunnels that have hac havel l not shown signs of life in in three decades arc being cleaned out ont r and tIe the hc old ore ore arc bodies being studied and assa assayed ed Cherry Creek Austin l Eureka Virginia City Ham Hamilton Pioche and many ninny other old camps are areL In Utah there is considerable in quiet I opening opening up lip t the e mines again doing doing- a l way war fin Tintic tic has shown the greatest strides while Ophir Stockton Deep krcek Creek Park City and many other s silver l cr camps of the state arc are taking on ont t new life that pro promises i cs a STe great re revival real al in mining depending to a great extent n nl iti Hul l InIn mil con ill C C t ll t According I to 0 r reports s from tho o cast thoro 7 is moro more Interest in silver mining tI 11 than in most any of or the other metal metal- mines The reason for Cor this Is duo to the well c established price of oC 10 JIl j which those versed in tho study tot of this question declare maln- maln for some years cart Silver it is Declared d will sta stay where it Is whilo I I 1 tho other metals will win pick up grad grad- ji Th Tim Tho capp copper r market Is well but I tal there has hat been only a slight Increase o Tf I j in production Much of the tho metal that I Ui has been stored is now being moved mo i and Jand an deliveries during August were far fari I i excess of or the amount sold This It III is ts declared continues I t 7 The Tho demand for Cor or tho export of oC metals I which before lon long will take over 65 c cT 6 T fP per per cent of or the copper production and andl l f per por cent of oC both oth tho the lea lead and zinc r 1 production will be rather slow it is la 11 believed Cd for a number of ot reasons Low f go o rates arc aro not conducive of oC a health export trade Besides that tho the tf countries which take o great greit i i of oC American merican metals will not 5 be bc In shape shapo to handle much raw mate mate- 1 trial before they have their own household house- house hold In shape Their Theil first Interest will willbe Q 1 be to fix up the most necessary Indus indus- 1 I tries Then Ihen will follow the tho gradually g 1 J Increasing flow Clow of oC metals to Europe in ina ina int t a manner never seen before I Strikes have ha already this year ear lost lostIn lostin in the tho nel neighborhood of or ounces of silver metal and there is no telling t j how much more moro will be taken off the tho j an annual ual production record before things 1 fare OJ I arc aro anywhere near like lIko normal again ae t Tho camps that havo caused this loss rare pare arc Tonopah Cobalt Park City Divide and several se others Under normal conditIons con con- r America including Mexico tho the thor r United States and Canada produce two- two r f thirds of tho the silver produced annual annually ip tp India is now a greater creditor of or other nations than ever er before and the demand for silver for this great sink j jor of or precious metals is greatest e in his his- 1 tory In the orient silver continues I 1 t as 35 the favorite orlle money and this flow low o of i silver will continue continuo for Cor some somo time During the week weel silver In London went to Gid which is the highest price 41 sinco Until the last few Cew years rears London has been the metal market of ot tho the world worl 1 but toda today tho the United States I practically controls the silver marl market et In tho the United States Slates the price of or silver has been beon above 11 an ounce which 4 Is the highest the SOs I Silver rr Production ProductionS S a. In the United States the production of of silver In 1918 was In round numbers I ounces while the year ear previous pre I ous It was j O ounces and slightly I above c that the year before and in In 1916 which was the record year oar It was c close clo close to ounces With these f figures It looks as 58 thought there will I l be a greater rea ter shortage of or silver than ever e this thle year car Relative to tho the monetary side of ot sil silver slier sli- sli ver er r one author says f Students Students or of silver r statistics and tho the history of oC tho the commodity have often octon t confessed t that lat the subject exercised a a. t peculiar lIar hiar fascination for them We WeI I i have havo seen how 10 politicians havo have been beon carried awn away awny by it until tho the metal j considered in debato on currency con con- t f tro has been virtually Idealized as a hapless sufferIng differing feminine goddess god god- odd od- od d dess ss persecuted d to 0 tho the of oC the earth r b by the conspirators of or the gold Jold stand stand- 4 ard There is IB therefore much to lend peculiar I Interest to any auy study of oC silver sil- sil vcr ver for while gold old has lias been a n. cold Rs Instrument for basic br meas- meas u U. U of or values silver cr has been 45 1 t tire live not only because of the in production and the thc periods of oft t different discoveries hut but because it has been In Its econom economic c fate linked large large- i l ly 1 with the history of or politics as well as haf of finance There Thero can be bo no I doubt that England's I vigorous orous upholding upholding uphold uphold- In ing of the thc gold old standard In tho the UPhOld UPhOld-I last century was dictated as much by her belief that she held n a superior position position tion lion in the possession of oC gold old supplies I and dominance in tho the ocean ocean trade over political rivals as to an any conviction that the double standard was as impracticable impracticable economically Nor or is thero there any reasonable doubt that Germany after atter her military victory over O Franco France In 71 il adopted the single gold old standard stand stand- ard arch for Cor tho the now new empire and began hean In I her enormous sales o of silver in tho the belief that her cour course o would result in inthe tho the financial ruin of oC h her r en enemy em beaten on the physical battlefield While on tho the subject it ml might ht bo be In Interesting interesting In in- to l know now that in tho the beginning beginning begin bee ning of oC the American coinage system tho the effort cHort was made to maintain the ratio of ot gold bold and silver er on a basis whereby tho the value alue of ot one ounce of ot gold I should bo ho equivalent to that of sixteen ounces In silver The effort was fairly successful from the year ear ISOO 1800 when tho the ratio was 1 1 to 1568 down to the year In which year ear silver was de demonetized de de- when It stood at al 1 to 1692 1592 having ha In this period of or three seventy years experienced a net change of oC only The ratio mHo began bean to rise In ISH with the of silver 01 and the consequent valuation of that metal on-a on commercial basis In terms of or gold instead of ot on a mone money basis Dy By the year ear 1880 silver had so depreciated in value that tho the ratio stood at 1 of oC gold Sold to of ot silver In tho the years ears following following fol tol- fol- fol lowing this ratio has gone one up with only slight tendencies towards recovery ery en until IS O. O following tho the enactment of tho the purchasing purchasing- clause of ot tho the Sherman Sherman Sher Sher- man silver er bill on July 14 of oC that year ear That year tho the average o price of ot silver sliver was ar an ounce From that point silver gradually declined to 68 cents an ounce Its lowest point the tho era a average e price in 1915 From Prom InCi 1315 there has b been en great strides mado made in tho the price of oC silver The follo following ln year Jear the average was cents in 1917 it was wu SI 42 cents and last year ear the average was ns cents A year Jear ago last month silver went to 1 and has remained above that price ever since Markci Slow T Down Thero There has been a gradual slowing down of oC all tho the market since the tho break in ew York stocks last month and many authorities are arc looking for a continuation of ot this until late lato in the fall tall Thero There will also bo some somo turning to other lines of or business than those that enjoyed tho the greater reater p part rt of ot tao wave of ot tho the boom Relative to conditions during tho week Henry Clews of Now York says Owing Owing- to tho the multiplicity of ot conflicting con con- forces Corces It Is almost lyle hIe to satisfactorily anal analyze the tho present present present pres pres- ent situation It is quite plain that our difficulties aro are both bolh social and economic that many arc are directly duo duc to tho the war and that man many others antedate ante ante- date dato the war Social unrest has be been n growing crowing for over oer a generation and n 11 4 r. r v avo u man many precipitated tho thc great conflict The Tho desire of or tho the worl working classes for bettor wages and better belter living conditions conditions conditions condi condi- wa was as the tue mainspring of that crisis to curb tho the monopolistic tendencies or orthe of the tho times In other words words' the ob object ob ob- jeet of oC tho the prewar crisis was a more equitable distribution of or wealth and tho the war did not stop this movement but bUl on the tho contrary distinctly in intensified In- In it Tho The war moreover im immeasurably immeasurably Im- Im measurably confused the tho situation b. b ban by b byan an unprecedented destruction of ot lIf life and property which loft left a startling scarcity of ot both labor and commo commodities commodities' tI ties ties' S The present work worl of or reconstruction lion ion Is therefore handicapped at the start by confusing contusing combinations of ot psychological and economic disorders for tor which there thero Is no possible cure ex except ex cx- through a tedious course of ot in industry In in- economy econom and forbearance All selfishness In tho the form Corm of or profiteering or of ot excessive WIl wages S or of ot lessened production or of or extra a extravagance ance will simply dela delay reconstruction and aggravate ag as ag- ag atc gravato a bad situation Labor I Outlook President Wilson tho the railroad men mea sound advice adice which the they seemed reluctant to accept He told them plainly that hl higher her wa wages c and shorter hours would Inevitably raise and not lower the Ito cost of ot ln living Ho lIo showed them It was more important to raise ralso tho the purchasing power of oC wages es by hy Increasing tho pro product than to tomake tomake tomake make fruitless efforts to offset higher It would seem costs cost lJ by hl higher hor wages was that while WhilO radical labor refuses to learn the these c homely truths except b by hard experience conservative and non non- unionized labor abar Is more moro or less loss In Inclined In- In dined to accept the tho Presidents President's advice nd Ono One thing la is certain labor is gradually gradually all ally but surely losing former public support b by Its Us present extremes and n radicals bent hent upon a policy of ot rule rulo or ruin are surely riding for tor a n fall falt There Thero ThoroIs Is no question whatever about public opinion being overwhelming a against extreme demands These facts doubtless doubtless doubt doubt- less have o much to do with current be belief be- be lief lIeC that the tho the threatened strikes if It they materialize will prove proe failures A At t this thir writing writing- the outlook happens to be bA more marc assuring and labor leaders arc aro evidently moving mo cautiously rull fully aware that the public Is la wear weary of or strikes es Apparently a moro more conservative conservative conserva n tive the policy Is In prospect especially since Inco the return of ot President Gompers Compers from Europe who though aggressive on the side Bide of or labor Is not only opposed op op- op- op posed os d to the thc socialistic element but is also too shrewd to go JO BO so far tar In his J f demands as to Invite In failure Out of oC j J 1 Continued on following Pale Page i 11 I 3 T I s t c t a t l o n anTE METAL HOLDS l' l Continued u d from Preceding Page Pago crt crisis isi lS' lS satIsfactory sat eat present better botter and more methods of settling labor laboi disputes dis dis- dis should hould arise There 1 Is no reason wh why such questions should not be ba subJected subjected sub sub- Jeet d to negotiation just tho eahie- eahie as as an any other business business- transaction Discussion Dis arbitration or appeal to the courts should take take- the tho place of ot such stich barbarous methods as Intimidation s J strikes es lockouts and force foiCe Profit Profit- s sh sharing haring representation In management and other panaceas havo their advantages advantages t ages and disadvantages es but no peace on either cither sl sie e Js both bath parties are arc prepared to meet on tho the basis of ot tho the square d deal al and antl mutual consideration or or live Jive and let live lI Time for or Work This Is not a time to strike for higher t a wages cs and shorter hours The Tho t thin thing to tc do Is to Increase production by working harder even en If the work- work f ing Ing in is lt longer which will automatically automat I I callY re uco the tho price of or necessary c commodities antI and Increase tho the purchasing I ing n- n power of ot the tho dollar Therefore if It wo have cheaper living present wages will t be more than adequate on account account ac ac- c count of or time the Increased purchasing eruption of ot p power ower of ot mone money moneY- This strikes over o the thc count country In fact all alf o over ver the tho world Is becoming a craze a and nd- nd If continued in will ill will end end In detriment detriment detri detri- ment mont to to the tho laboring classed eS' eS rather than han benefit The Thc masses In this country countr derive tho the greatest benefit In I times imes of ot prosperity not In times of adversity ad such as these strikes strike If It left leet lefto to o work t themselves to tho tIle en end are aro likely to bring about Learn rn the tho fate of ot f Germany German Russia and anI Hun Austria gary gan all nIl before the thc war prosperous al almost almost almost al- al nations but Jut b by the w war r prostrated most to tho the dust WillIe while tho the rest of ot tho the world was crippled most seriously even en Including ourselves es What was disaster disaster disaster dis dis- the tho war that produced tills this great aster Nothing but a hi big strike and which we all know now flOW was a n. l. l signal nal failure for the originators of or it If IC I common common cornmon Ic ha had prevailed pre all the vexed questions could have ha been amicably amicably amicably amic amic- all la labor laher la la- I ably settled b by arbitration and her bor trou troubles les could and should be bc settled set sot tIed In the same sune t a way I The Edge Ecle which alms aims to pro provide j means for or establishing foreign n cred its Is practically at a standstill al although although at- at though there i is little opposition and the he need of passing the tho measure Is ur urgent ent Our export trade trado ma may suffer I Is quite unable to pay because I Europe rope for needed in 11 Vl euner enn For our own good we must sell on credit and the sooner some somo adequate plan is put Into execution execution tion the thc better for all concerned |