Show SilVER PRICES I IfS jf TAKE BIG DROP 1 Government f May I Place Embargo Embargo Embargo Em- Em bargo on Export of Metal The drop in the price o 0 of silver lIver of 10 cents in two days das is the cause or of much I c comment among local metal experts In Inthe the of any real news new from the East as to the tho reason for the sudden and surmises sur sur- drop a great many conjectures mies are being indulged in The manager manger manger man man- ger ager of one of the largest smelting comI companies com corn panics expressed the of opinion opinion opinion I ion when he said A reaction from the high price of was wa only to be expected as the price of silver has mounted steadily with 1 scarcely a a. since last spring and anda a a. falling off of a a. few points was therefore a natural recession as the wants of the buyers were filled However a drop of 10 points is abnormal and I can only account for it it in the absence of other reasons in two ways First the high price of the white metal has attracted the attention of Junk dealers who have bought old silver slIver and andare nd are now melting it down and turning it into bullion bumon This in itself might appear a small thing But when one thinks of the enormous nOrmous amount of silverware of all descriptions In the country bought when silver was in the doldrums around 50 cents that could now be melted down and soli as bullion it makes one pause I am Informed that dealers have been accumulating accumulating accumulating lating this Junk silver in all parts of the country and that it is now coming out helping to depress the silver market My r other conjecture is that not only is It likely that the United States will place an embargo on the exportation of silver but with but with the price mounting it would not be long before it would pa pay people to present silver certificates to the United States treasury treasur in exchange for hard dollars melt the dollars down and sell the bullion bumon in the open market at a profit However these are but surmises and it may be that the inexorable law of supply and demand Is playing the biggest biggest biggest big big- gest part of fixing the price of silver sUver |