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Show MEXICAN MINISTER REPORTS 01 SILVER Believes That Canadian Output Threatens Industry of His Country. la speaking of tho present condition of the world's .sliver market and the outlook out-look for any betterment thereof, .Minister Llmanlour of Mexico says: "The fact that there were no larso stocks of that metal for sale somo months ago In the European, American and Asiatic markets gave rise to the hope that tho silver crisis would disappear with tho disastrous effects of tho drouth then prevailing In India and tho exceptionally excep-tionally depressed condition of trade In China. In the last budget statement the opinion Is held by well Informed persons to the effect that with tho necessary curtailment cur-tailment of the output of silver mines the supply of bar silver would gradually diminish, thus giving a now stimulus to the demand and bringing about an improvement im-provement In prices. "Unfortunately those hopes were not realized, notwithstanding tho fact that the conditions of the Asiatic market have greatly Improved. The present danger comes from another quarter; not from our Immemorial customers for silver, but from a new competitor, whose output within tho last four or live years has increased prodigiously, and, what Is more serious for us, Is produced at a very low cost. Canadian Output. "The government of Canada decided upon the construction of a railroad through a region that was almost unknown, un-known, and by a mcro chance during the location of tho line the discovery was made, In a comparatively small stretch of territory, of very rich deposits of silver mixed with cobalt and nickel. The operation of these mines was not started until the middle of 1001, and yet In 100G tho output oxcoeded 5,000,000 ounces, while in 190S It rose to more than 10.000,000 ounces, and In 1009 to more than 30,000.000 ounces, nearly one-sixth of the world's total output. A noteworthy note-worthy fast Is that tho silver occurs almost al-most always In the native stalo and on the surface of the ground or at a very slight depth below tho surface, so that the cost of mining and treatment Is considerably con-siderably lessened. "And If to all. this be added the richness rich-ness of tho ore, which Is truly fabulous, the assay In many of the veins averaging averag-ing more than 3000 ounces per ton. It will readily be undoi'stood how serious an effect on the price of sliver Is likely to bo exercised by this enormous output, which Increases dally and threatens to swamp the world's markets. Tho danger for Mexico Is greater than for other silver-producing countries, for many of their mines yclld nothing but silver, and their operations will not pay If tho metal contlnuos at a very low price. |