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Show 9LVQ1 PRICE TO GDHHNE GLIMS Price of 61 1-4 Pence Per Ounce Highest in London Market Since 1856. Tremendous Demand for Metal Has, in Fact, Resulted Re-sulted in Remonetization. Trua to all the sijns and indications that have been manifesting for the past several years the ultimate destiny of silver, tha present status of the subsidiary subsidi-ary coinage metal of the world demonstrates demon-strates the inability of the commercial nations of the world to carry on, for a very much, longer period, their necessary neces-sary business and trade, domestic as well as foreign. That silver's position !is now almost unassailable, and that fits present high price is a corollary of the inflation of credits throughout the .world and the insufficiency of the j single-money standard to support the lUTicantio issues of paper money made by nearly every nation on the globe, is acknowledged by the majority of financial fi-nancial experts of international reputa-i'rion. reputa-i'rion. An interesting history of the present movement of silver .to "its greatest great-est heights since 1893. and the part it 'is now playing in adjusting the balances bal-ances between creditor and debtor nations, na-tions, is given in the Financial lie-view, lie-view, which. 6ays: Price Exceeds 60 Pence. The highest world price for silver since 1S66 was reached earlv this week i when the white metal sold in the Lon-' Lon-' ion market at 61 1-4 pence per ounce -British staudard, 925-1000ths fine. At this price, silver exceeds in value the eld ratio of 16-to-l between silver and gold. The 16-to-l value of silver would make 59.00 1-4 pence the par value of an ounce of British silver for coinage purposes, and a slightly higher value as bullion-market price. On July 26, 1919, The Financial .lie-view .lie-view made the forecast that the normal world price of silver would soon reach around 60 pence or better (then 54 1-2 pence), the price of 60 pence being the normal world price before " demonetization demoneti-zation " of silver, about 1873. The prediction pre-diction has already come true. The price of 61 1-4 pence Loudon would equal $1.34S f. o. b. London for American silver, were exchange normal at $4.86 5-8 for the British pound. This would equal a New 'Vork price of about 41.33 1-2 allowing for freight and insurance. in-surance. Not since 1S66 has such a New York price been registered. In that year silver averaged $1,339. Metal Remonetized in Fact. An astounding reversal is the fact that whereas silver sold at the highest price in the years before and during the civil war. and declined after the civil war, in the present world war, silver sil-ver sold at lowest prices in history of the world immediately before the war and, during the war, and registered ita climb after the war in Europe. Where silver was demonetized after the civil war (1S73), there appear now strong indications in-dications that it may be remonetized in the very near future. But whether silver be remonetized in law, it is already remonetized in fact. For it is a fact that there is not enough silver in the world to meet the coinage demand from Europe and the neutral world and America (to say nothing of the great demand from India and the orient.) In the sense that the mints stand ready to buy all the silver that can be marketed, there exists a condition condi-tion of "free and unlimited" coinage of silver. The' actual New York price of silver this week was $1.14, due to the depreciation depre-ciation of British exchange to $1.21 to the British pound. The value of the India rupee, on which the world price of silver depends, has been ''reorganized" by the India and British governments. The net result re-sult wiil be to fix "par" value of silver sil-ver bullion around 55 or 60 pence per ounce, British standard. On existing exchange, the New Yrork equivalent of 59 pence would be $1.03 per fine ounce, American standard f. o. b. London, or about $1.09 an ounce f. o. b. American ports. The Indian and London price of silver around 59 pence would equal 1.2929 an ounce for American silver, or the old "par" value of silver at 16 to 1, if the exchange value of the British pound were normal. At current exchange ex-change the British pound is worth about $i.lo. Normally it is worth S4.S6 1-2. Value of Rupee Raised. The new value of the rupee is fixed at. one shilling ten pence (22 ence), or 10.3585 grains of gold, or 10.91 rusee to the British pound. The rupee before be-fore the war was fied at a value of one shilling four pence, or 15 rupees to the poundf ever since free and unlimited coinage of .silver was discontinued at the India mints in 1593. The value of the India rupee had to be raised to 13 pence owing to the high price of silver m 1916, and was again raised to 20 pence earlv in 1919. All the successive advances in the value of the Indian rupee sinae 191(5 have been due to the advancing price of silver. High silver has cause"d the coin or money value of the rupee to be less than the silver bullion bul-lion value of the com, and has led to the melting down of tho coin?, and acute monev stringency. India took 101. 295, 559 ounces silver from San Francisco in 19 IS and 74,719,-687 74,719,-687 ounces silver in 1919 in about four months to Mav 10. Both in 191S and in 1919, the India takings exceeded worid production of new silver. It is reported re-ported semiofficially tiiat practically |