Salt Lake Tribune | 1919-10-29 | Page 16 | Silver Price Breaks Record

, 9LIER PIE BREflKSRECORD White Metal Reaches New High of 65 3-8 Pence on London Metal Market. Again all previous records for the priee of .silver sln.-o the years 1788-1789 were broken on the Loii'lon nuirliet when .silver .sil-ver wa.s fjiioted y est er'ln y at ).7;ts penee. "With tho pound yverllnjc nornuil, this priro would m 0'tiiv;il-iit to appl'ovi-lualely appl'ovi-lualely ;i.;iJ5. Am a result of Hie low ilotaiion on tho pound slouiiu. v.'hich OHtorday was -H.Wi; M.'iiiaiiiJ, the -Vuvv iork in lee qimlril was JI.-l'i'- Willi (ho pii'-o of the white metal 1'lnuig to huinlits previously unknown, profound eoniplieat Ions hav e heen geu.-r-aled in tho monetary Hellenics of tho world. , . Tho silver bullion value of Tlrilish money t Iii '.iikIioir tho liritioli empire now eeueds the coin value, and must result In niellinK flown of the coins, their disappearance from circulation and a further inflation in paper "money," says the Financial Uovl.-w of N'ew York. Long .rinco, I lie silver coins of all nations of eom inenlo 1 Kuropo showed less money or colli value than silver metal value, and have therefore largely vanished. The inflation of paper "money" is one cause l.ri.u of the disloeal ion in foreign cx-chtuiRrt cx-chtuiRrt and depreciated value of foreign "monev." A remodeling of the world's silver cotn-ape cotn-ape has heeouio imperative because the new order in International exchanKO and lilKh silver prices make it impossible to keep the money or coin value of former silver coins above the present metal i value of toe old coin. New standard ! coins Is practically all nations except the 1 Kntted States, and possibly India, must be manufactured containing less silver per coin I hail the old standard. Then the nations could coin silver money "effectively" that is to say. nations na-tions would then receive a moderate "sclRiilorage" profit ' through coinage, which at the same time would also serve to make it Impossible to profit from melting the coins and selling t lie silver. Mexico has already created a standard weight for tho Mexican "peso." and tho news from Germany this week is thai a new "mark." equivalent to 3D marks per British pound (14 cents per mark on present exchange) would be created, cre-ated, with tho reslahilization of tho amount of silver Ln the new mark. The world-ratio of silver to gold is now way past tho so-called )6-to-l ratio. Silver Sil-ver is even more valuable than "16-to-1." At the 6-1 cl London price, only H;v ounces of silver now eriual one ounce Bold at the par or coin value of gold.