Show WORLD DEMAND FOR SILVER GROWS various economic writers are discussing and attempt ing to account for the rising rising price of silver there can be but one answer an increasing demand without a proportionate increase in supply says the november issue ot of the mining congress journal j one year ago the situation was anything but enczur aging france instead of silver in her subsidiary coinage was using a comparatively worthless a alloy du during ring the wa many countries had melted their silver coins and sold the tn bullion in world markets other coun countries tries had debase ed their coins i in n order to protect them from the melting P ot it was generally conceded that unless silver was returned return I 1 to its countries that tile I 1 former place as money in these of future of silver faced glooming conditions the exam example ale 0 france was ominous all countries were surfeited with w worthless or semi worthless paper mone money y all recognized oil that only a metallic money or a paper money based metallic reserves could ever again ag ain command confidence conand their the people 0 of f france seemed entirely satisfied with t I 1 t bronze imitation of money other countries without i S ver without gold and without credit with which to bly y if silver watched the experiment with intense interest inheres in teres france could make unsupported fiat imitation 1110 money T aey wee ea the requirements of business and industry tile the country conn her lacking any other present remedy might well follow folio h example aerl it was a crucial moment for silver without a ae 15 d eral cral return to monetary uses silvers future w was as doo lacking the most important market over supply 0 f J 1 demand for domestic uses would surely ruin the silver ak ket happily for the worlds stabilization happily for silver wiser counsels prevailed the polish government rejected the french idea balanced her budget and provided on a gold basis for a return to the use of silver in her monetary system next to the adoption of the dawes plan the first purchase of silver by the polish government to be coined in her coins by our mints and delivered in warsaw was the outstanding and important step stel toward world stabilization and without exception the most lost important event for many years in its relation to silver the general increase in silver prices cannot be att attributed rib as some financial writers have claimed to be the result of covering by dealers caught in a poor technical position has been directly responsible for the higher prices this week this might account for a higher market at a particular time but it was caused by a rising price creating a poor technical position I lad had market prices tended downward these dealers would have occupied a strong position the strong probability is that polands bolands Po lands return to the use of silver in her coinage already followed by germany will be followed by all other countries now cursed with worthless paper currencies this justifies belief in a continually appreciating market price for silver until the point of saturation is reached by these countries an expanding world commerce at a high level of prices will continually call for increasing amounts of money gold or silver must meet this demand the worlds gold stocks are closely held and entirely inadequate therefore silver must be used in increasing amounts a it is not a wild prediction that the worlds supply of both gold and silver will not be adequate for monetary purposes it is not a wild prediction that the dawes settlement the scarcity of gold and the adoption of silver for subsidiary coinage by the paper currency countries of the world will make dollar silver seem as cheap as 50 cent silver did a few years ago the price of silver and the industrial du progress of the world are going up together |