OCR Text |
Show WOULD LET SILVER MARKET UNDISTURBED Interest in congressional and business circles ae to the future price of silver is being displayed, says the Boston News Bureau. Western interests favor additional addi-tional legislation to raise the limit below which the price may not go. Director of the Mint Baker has returned re-turned from an extended visit through the west. He finds this sentiment growing. grow-ing. As a rule, it does not find favor in administration circles, but Director Baker himself is noncommittal on the subject. Senator Pitt man of Nevada, who has taken an active interest in silver legislations, legisla-tions, says: "I believe in letting well enough alone. The situation is very satisfactory since passage of the Pittman act, fixing the price at not less than $1 an ounce. Of course, there is a great demand and some of my friends In the west have been enthusiastically talking about the possibility of 51.50 an ounce. T have advised ad-vised them, however, that T did not think it would go beyond $1.15. England, is not buying silver above $1.10. and any higher price would probably have a disturbing influence on the rupee. "Prior to the war 30.0W.0O0 ounces of silver went into the arts every year. The limitation on the use of the metal lias caused a shortage in the arts of- at least 75,000.000 ounces, and it is my opinion that the increasing demand for silver in the market now is due to a desire to meet that shortage." . |