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Show GREAT WIZARD NEEDED. The great problem for a super- ( ! genius is how to supply $300,000,- 000 a year in silver to India and China and the other silver nations; na-tions; at least 200,000,000 ounces 'of silver a year to the mints of tlie world for coinage ; about $125,000,000 a year silver backing back-ing for at least ten years to validate vali-date part of the huge issues of paper pa-per money put out during the war: leave say 60,000,000 ounces of silver a year available for the ( movies and commercial indus-t indus-t tries; and make a total world pro-; pro-; duction of 145,000,000 to 260,000,-' 260,000,-' 000 ounces go round that is the (great problem, according to an authoritative au-thoritative work on silver gotten out by Coleman & Iieitze of New I York. The article says in part: j "The year 1919 will go down . into the world's history as marking mark-ing a new era in silver. "The highest prices in the history his-tory of the universe were reached by silver, the metal, in 1919 and the movement in price has scarcely scarce-ly more than begun. "In New York, the high record price was $1.37 3-4 per ounce. The j so-caled "par" of silver in the old days of 16-to-l, prior to 1873, 1 was $1.29 per ounce. The record jlow price of silver was 46 14-c per j ounce in early 1915. I "The London or 'world' price 'of silver reached a record high of 7S 1-S pence per ounce British standard. This would have amounted to 1.73 12 per ounce for American silver, were British money worth the normal exchange; value of 48.6.65 cents to the pound ' sterling. j "The coinage of the British Em-;, pire and the rest of the world ex-' cept the United States has reached ' I' tftc, point where the coin value of silver coins is less than the bullion bul-lion value of the metal. An ounce of silver goes to make up 66 pense in British coins, but the snnw ounce of British silver is worth over 75 pence for the metal at the market price of silver. This must result in the melting down of British Brit-ish coinage and its sale as bullion. The British government has tried lo prevent this, but prevention is impossible. The exportation of silver from Great Britain has been prohibited except under license. li-cense. The same condition of disappearance dis-appearance of silver" coinage (as of gold), only Avorse, has long assailed as-sailed France, Germany, Italy and the rest of Europe and Mexico and the Orient. "The remarkable silver situation situa-tion follows upon the withdrawal of gold from general circulation. There is scarcely enough total gold in the world to meet the yearly interest on the war debts of the great nations. All the nations, na-tions, great and small, are hoarding hoard-ing gold. "The burden of carrying on the world's trade falls more heavily on silver aud on paper. The expansion ex-pansion of paper "money" accounts ac-counts largely, though far from entirely, for the depreciation, of foreign exchange. It would have been bad enough even before the war lo withdraw gold from general gener-al circulation, and place on silver money and on paper the burden of-carrying of-carrying the pre-war trade of the wcrld. The burden is now much heavier owing to the higher, prices of goods and owing to the larger volume of goods traded in. "There are four great world demands de-mands of silver. Three of the four, each of them alone, require more silver than the world can possibly produce." |