Show Sil SlUMP TRA TRACED fD TO 10 CHINA It has been definitely determined that the Je repent recent ent slump slump in the price of silver has not been entirely due to the Indian situation W. W Mont Ferr Ferry president of the Silver l' Producers Producers' Producers Producers' Producers Producers' Pro Pro- Association of oC America told members of or the chamber of commerce com cam merco merce Wednesday at their regular regular regu regu- lar lan weekly meeting The condition is brought about largely through Chinas China's effort to i dump ounces of or silver into world markets to raise funds with which to finance provision and arm her armies and defend herself herself herself her her- self against the att attack ck of bolshevik bolshevik vik ik Russia Mr Fer Ferry v s said ld There is now an an unused supply supply sup sup- ply of silver in the world totaling totaling- about ten billion ounces It is held mostly in India and China not Inthe in inthe inthe the form of ot coins Mr Ferry said but In the form of ornaments and bullion It is held in private hoards and what the effect upon the holders holders hold hold- ers era of ot these hoards will be If the value of or silver is permanently re reduced reduced re- re is difficult to say The price of silver makes lIttie lit little lIt lIt- tie the difference in China said Mr Jr Ferr Ferry but the trading value of or orthe the metal is determined by its weight This is the fifth British silver commission since 1893 which has made an effort to stabilize the Indian monetary condition the speaker a ded in commenting en the plan to change the monetary standard from silver to gold In India within the next ten years If the monetary standard In India is changed that country will become the seller of ot about one- one third of or the worlds world's annual supply of or silver each year instead of the purchaser of oC that amount each year ear as it now is I |