Mt. Pleasant Pyramid | 1931-04-10 | Page 2 | Metal Slump Damages all Business

Sletal Slump Damages All Business Boycotting times in India and war times in China have wrecked the silver market of the world, according ac-cording to Robert E. Tally, President Presi-dent of the American Institute of Mining and Metallurgical Engineers. Engin-eers. He stated that the two countries named take 80 per cent of the silver produced in the world. With this market gone, silver has fallen to its lowest price in history, 25 cents an ounce. "This condition is reflected in other minerals," Mr. Tallly declared, declar-ed, "and no one can tell when the market will be normal." Mining lias been particularly hard hit by the world depression, copper now being about ten cents a pound. Any program looking to stabilization stabil-ization of the metal market should he encouraged by the United States for it is one of our basic industries upon which prosperity in many of our states depends.