| Show SILVER AS A COMMODITY THE new york EnO engineering and mining journal says bays that about two weeks ago the price of silver reached the lowest point ever recorded the london quotation was 39 d per troy ounce and in new york cents making the gold value of the silver in a dollar piece about cents the authority quoted above looks upon silver as purely a commodity wad and contends that it is absurd to talk ot of in justice and crime in relation to it its value like that of all commodities is governed by the law jaw of supply and demand statistics show that its production during the past ten years has gradually increased but so has its consumption both for coinage and industrial purposes in relation to silver as a metal the follow following ing extract from the journal contains some instructive particulars the future course of the silver market may be predicted with as much certainty as that of any other metal whether the united states government continues to tony buy ounces per annum or not nol the price will decline until the output is restricted by the weaker mines closing down and production more nearly approximates consumption how much of a decline will be possible cannot be foretold because there are no figures in existence of the average cost of producing an ounce of silver already many of the least favorably situated mines and some hath low grade ores like those of butte mont are closing down but such a reat elat 1 producer as the granite mountain vi mining ning company of montana which yielded ounces of silver in 1891 produces it according to the reports of us directors at a cost of per ounce while it is well known that the rich mines of aspen and the san juan district distri ct of df 0 colorado ol orado and the park city mines of utah produce produce silver for less than per ounce it ft must be understood that all this comes from a paper that favors th the e policy and refuses to recognize silver in any other light than so S so much iron or copper it is in the degradation of all silver ver to this level a after ate r at U had been used as money for so long that has depreciated its intrinsic value AM aad ad given rise to the complaints which the journal treats as absurd J |
