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Ch. 1: Gold and Silver in 1921

Ch. 1: Gold and Silver in 1921 Page of 50 Ch. 1: Gold and Silver in 1921 Text size:minus plus Restore normal size   Mail page  Print this page
GOLD AND SILVER.
World's production of silver, 1916-1921, in fine ounces.
437
The domination by the London market is not viewed complacently by many producers, refiners, and sellers of silver in the United States, who control between 85 and 90 per cent of the world's pro­duction. The production of domestic mines will have to compete with foreign silver about January, 1924, and unless foreign coun­tries resume the purchase of silver for subsidiary coinage nearly all the silver produced in this country must be absorbed by the Orient or used in the arts and industries. Open-market conditions and
p rice fixing at London appear to forecast prices per ounce much lower than that obtained under the Pittman Act. There is said to be considerable interest in the proposed Silver Export Associa­tion to control a more orderly marketing of the silver refined in the United States when it must compete in international markets, for the decisive factor in theprice of silver will be its use in coinage. A study of the effects of the World War on the movement and markets for silver is given in "Silver for 1914-1920," by Andre Pailhas (Paris, Librairie generale de droit et de jurisprudence, 1922).
Ch. 1: Gold and Silver in 1921 Page of 50 Ch. 1: Gold and Silver in 1921
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US Geol. Surv. 1921. Gemstones, Metals.
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