Nogales International

Silver Price Will Advance With Business

Now that the world is getting back to a sane business basis, after running wild for a few years, we may reasonably expect a continuance of the progressive business advances witnessed in the two or three years preceding 1929. Our super business men have proved to be stuffed shirts and the men who sold the United States short at the height of the boom made billions.

The production of metals is about back to 1929 level and future increases of production will be regulated by demand rather than by the vaporings of the publicity men for the bulls and bears of Wall Street. The production of silver will show a falling off in proportion to the decrease in the output of other metals and the price of silver will advance with expansion of world business.

England says that the gold standard made London the financial center of the world and that she has no intention of turning to bimetallism. The British policy of placing India on a gold standard caused and crashed into the world financial depression not contemplated when the decision was made to turn to gold. Then again there is not enough gold for a world wide gold-standard policy. Bankers will have to become miners if they are to secure enough of the yellow metal to carry out their panic-making scheme. Gold has disappeared from circulation in America and if the miners of gold would hold their product it seems certain that the world would pay a premium for the metal.

There should be little difficulty in securing world cooperation in the effort to stabilize silver. The United States will no doubt find England willing to stop dumping the silver reserves of India. The action of India has thrown the world into a panic. India has been taking the gold cure and finds that the cure is worse than the disease. It is too bad that William Jennings Bryan is not alive so that he could continue his brilliant exposition of the silver question. With the aid of the radio and his wonderful logic he might even swing the world to the bimetallic standard.

(Denver Mining Record)

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