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Silver Becoming as Rare as Gold.
Demand Continues Unabating—Where Some of it Goes. (Agnes C. laiut in New York Sun) ' Ask your bank for gold these war deys and you'll find it about as easy to obtain us platinum, palladium, iri dium—which aren't obtainable at all which the government is and for pa-, ing prices running from $105 ounce to $175. an can still obtain And though you silver, the fact remains that in pro demand-—especially trade—silver is becoming, if not absolutely scarce relatively, rure as the rarest metal. portion to the for the foreign I. the day coming when sliver, too, will become shy and disappear in the lmi.lble "sink" that absorbs clous metals in times of war? ver at $1 plus an ounce, which used to coat 58 und 60 cents is a far more startling phenomenon than coffee at 26 cents, which used to be 14 cents For the silver production pre Sil a- pound. of the world is a very limited quan tity, and except in a few rare silver camps, like Cobalt or Slocan In the early days, silver comes chiefly us a by-product of other metals. We talked in the early days of the war of money as "silver bullets." Are we coming to "imper bullets?" For the war lias reversed every economic theory the world has ever held, and the free coinage of silver today would no more relieve the acute de mand for silver coin than the free coinage of mud. The demand for silver coin in one country alone, In dia, exceeds for a single year the entire world production of silver. Like a Leaking Reservoir. The demand for sliver is exactly like a great reservoir of water with half a dozen inflowing pipes und an unknown number of leaks In the bot tom. All we see Is that tile surface le'el of the water keeps sinking fast er than the flow comes In. We (inil one hole and stop the leak. Up comes the water level; but before the world financiers have hud a chance to soup their ihands with satisfaction down the water level goes again. That Is where the whole world is with silver Just now—Just where King Canute was when he found he could not command the flux and re flux of the ocean tides. Times was less than two centuries ugo when the proud silversmiths of London met in pompous satins and wigs behind closed doors and set the price of silver for the whole world. They were succeeded by the silver brokers of London: hut the war was barely two years old when the whole beautiful scheme of the past sprang a leak. Silver began leaking away through other pipes than London— through France, through Mexico, through Chinn, through the Philip pines, through India mid through New York and San Francisco to India. Stop gauges were jammed on in the shape of government regulations by France, by England, by Mexico, by the United States, by India, but they were Jammed on too late. Not all the man-made regulations can stop the tide, any more than Canute could command the sea. India's demands alone could drain the world of silver. Some of the Important Facts. Take a few disconnected facts. Within a few months the American government melted down 100,000,000 silver dollars for export to India, China and Japan. Immediately afterward, about a month ago, the treasury fixed the maximum price for silver at $1.01%. It then announced that export licenses for sliver would be granted only on condition that the maximum price was not exceeded. This was to stop the speculators, who had been buy ing silver at $1 and reselling It at $1.08 and $1.07. As the government pays only $1 an ounce Its profit Is 1 Vi cents, which covers the expense of melting and recoining. France tried to stop the leak by demonetizing silver. When 15,000, 000 small nickel and silver coins were struck off by France with only 67 per cent value In real silver they vanished within a week of issue as if by magic. Who or what sucked them up so furtively that the French gov ernment did not know the new coins had disappeared until there literally was not one in circulation? Was it hoarding by people afraid of the war's after effects, or had some broker for a foreign agent secretly bought the coins up? The Ilnanciers do not know. to 1 is American silver dollars may not be carried out of the country to an ex tent exceeding $200 for each traveller. story Is told of 37 United Surtfs coinage presses this summer being unable to turn'off silver dimes j as fast as the commercial demand for ] those dimes. You may use the silver to buy bullets, but you can't use sil-j ver in bullets. Why did trade sud-|wited denly need so many more dimes? | silver leaking away | embargo. It was a typical Carranza | embargo—those who exported silver | la must reimport 25 per cent of the value of the sliver in gold within ten days; heads I win, tails you lose; a Carranza edict true to form, which ever way the metal market goes In the So fast was from Mexico to Japan and China and t" India that Mexico, too, clapped on an ! <he 000 war. The greatest store of unused silver in the world was 350,000,000 ounces bought in the '90s by the United States treasury at a prices described as a "song"—the Rong being 58 to 68 cants. It was to permit the melting I ' und exporting of this silver that the war I'ittniaa act was possible In April, 1918. Since the outbreak of the great war sliver has gone up In price from 60 cents to $1 plus. Why? Several rea sons are given. Here they are: Owing to the war silver mining, like all other minings of precious metals, is declining. When you ex amine it there is very little fact be neath tills explanation, production of the world for 1916 was 175,933,024 ounces. 1914 it was more ounces—which seems to show there has been a decline. But wait! From t908 to 1913 silver production went as low as 78,000,000 ounces and never once exceeded 162,000,000 ounces, but the dimes didn't disappear nor did the price Jump to $1.08. Another explanation Is that owing to the disappearance of gold as coin there lias been an increased demand for the use of silver, but in the old pre-war days how often was gold really used as coin? About as often as $500 hills. We knew it was there if we wanted it, but we didn't bother using it. iri all is an is The silver In 1915 and in than 182 , 000,000 the at the a the for In the Explanation Doesn't Explain. Then an explanation Is given of the explanation. The nations having em bargoed gold for foreign trade, the in creased demand comes for silver, hut this explanation likewise sets so much blink. True, gold is chiefly used for foreign trade and the various govern ments have forbidden the exportation of gold, except with special license, hut the very same governments have also forbidden the exportation of sil ver except under special license, so the rt-ai explanation of 'silver almost doubling in price narrows down to two questions which no man can an swer, bluff he never so wisely: Are people privately hoarding sil ver coin? an is he of by by a or has the price doubled because of open and secret buying of silver for the countries of the orient, chiefly No one can answer the first ques-jver tlon, for hoarding is too furtive to be India? traced, Imt the action of the govern ments in Mexico and In France would seem to Indicate that both authorities i are apprehensive of secret hoarding— also of secret agents for foreign pow ers buying up the hoards at a price above the minted face value. But that docs not explain the ah sorption of American dimes, and It would take a powerful lot of proof to convince sane people that the Ameri can public has taken to salting away silver dimes in old stocking toes and unused teapots. Still the cardinal fad remains—dimes here und smaller coins in France were absorbed as if by magic. What a theme for a new O. Henry—secret agents gathering up I the coins, melting coins Into bars in j some secret cellar and then smug-j gllng the bars to an India or a Ger- j Much stranger things have happen ed In the present war and it may be j tliat while we are sniffing along spy trails that are two years old and dead cold, another spider is weaving a warp and a woof around the silver coin of the allies against the day of reckoning alien Indemnities must be paid. Suggestion of Teuton Corner. Consider for a moment; with the silver production of the world down to 175,000,0(10 ounces plus, worth $1 an ounce plus, it wouldn't be much of a trick for a country that has spent bribe funds by hundreds of millions to absorb ttie silver coinage of the world. The silver coinage from the mints of all the world from 1885 to 1915 does not total $5,000,000,000— and what are billions in this war? of If Germany could by hook or crook secret agent or plot absorb the $8, 000,000,000 of gold coined since 1885 and the loss than $5,0.00,000,000 of sil many! ver, she could pretty nearly put the 1 world on a paper money basis, when indemnities would not be so hard to pay. They could be paid in paper— "scraps of t>aper"—-and the paper could be exchanged for trade, and the trick of absorbing the allies' coin ' currency would be ab urglar's Jimmy j to force open the world's doors of fu- j 1 11 re trade with Germany. The idea t ) recommended to the novelists and j dramatlsts who are still following old is 1c of spy trails. But the absorption of silver by In dia was alarming and grave enough without recourse to fiction. That j that reached from assassinations in ] Vancouver and San Francisco to Bombay and Calcutta. Five years ago, a year before the war. 1 investi sud-|wited and told something of almost | $2,000,000 of revolutionary funds sent | from Vancouver and San Francisco That was two years before British secret agent was shot | down in the court room of Vancouver, | la fact, 1 may now acknowledge it story, too, will some day be told, a story of fact, not fiction, with secret International plotters enough to put the wildest novelist to shame; plots the ber, cent able at lace, 12. of and tion, fore t" India. ! <he «as the imperial secret agent who gave me the facts, for which he af terward paid with his life. It will be recalled how last spring when it was declared in the house of commons that Great Britain had 7, 000,000 men under urms a shock of surprise came to the people who think below the surface of things when they learned that 1,000,000 of those 7,000, 000 were under arms in the far east. Why? To counteract the revolution - ary, propaganda manipulated by Ger many, chiefly from headquarters In San Francisco, been a hotbed of faction, and revolu tion.. .ink" of preclou, metals, demanding payment for export. In gold or silver, at once withdrawing the coin from circulation, either to hide and hoard It or to melt and boat up the coin in to bangles and Jewel, and ornament.. India Will Net Uee Paper. And now the war brought condi tions to India that literally set a match to gunpowder, population of India will not use pa per currency, but India', export, are essential to the winning of the war. India ha. Jute and hemp and wheat, and India ha. cheap labor. Ordinarily India buy. about $90, 000,000 more than .he .ells, but lack of tonnage has cut off her Imports and Increased prices have swollen her exports. The allies owed India $380, 000,000 for war purchases, and India would not acept payment except in coin. How easy for enemy propa ganda to fan factional unrest to revo lution If there hud been any delay in the payment of that coin! It was the place where the changers of money might have became the dictators of a second Russia, but Where was that great mass of coin coming from? Only one source of silver had been left undralned In the whole world— those silver dollars piled up dead and unused in the United States treasury. Even be^pre the Pittman act permit ted the melting and exportation of these, private purchases had sent the price of silver up 50 per cent, the ten years preceding 1908 In In dia had absorbed and "Hunk" or lost to circulation $135,000,000 of gold— more than a quarter of the world's yearly production of gold. For the ten years after 1908, that is to 1918, India had absorbed and "sunk" $440,000,000 of gold, or more than the world's production of gold for one year. By 1917 the dangers to shipping by way of London had become so- great Always India has Always India lias been "a the 60 as The general in so to For that coin was going to India by way of New York and San Francisco, and the brokers of London were power Russia and less to stem the flow, of China also were buyers of silver here. The dominance of the London brok ers In precious metals had passed forever. One single purchase of ail - ques-jver to the extent of $20,000,000 was be supposed to have gone to India by way of Canada, .and what had begun as a trickle became a flood, i Averted Trouble in ths Eaet. By the end of 1917 India was draw ing three-fourths of all the silver produced in the world. Silver had to be supplied to India to avert a flnan dal panic and perhaps revolution. The It world had produced about 175,000,000 to ounces of silver and India needed im mediately $200,000,000 worth and if had arisen as to the rupee. The pre mium was so great on metal that the I silver In the rupee was worth more in j than the face value of the minted rupee, so rupees were being melted j up and going out of circulation. A law was passed in India making It a penal offense to melt or export coin, j Silver can not now be shipped to In dla except by purchase of the gov ernment. a But this is not the whole story of the adventures of silver In the war. We are now paying France our army disbursements in silver. Wiith India requiring $175,000,000 more in silver than 1 m produced In a .year and France taking payment for our army purchases In sliver, It Is not surprls lng that silver has doubled in price, a The free coinage of all the silver in the world would not satisfy today's demand on silver. Shot through with the blood of millions of men is the warp and the woof of the new economic world the war is weaving. and gold and silver are the strands of that weaving. What kind of a new economic world will result, only the three silent fates working the strange new loom know, but the allies are holding together in one fabric to the later $150,000,000 more, so the United States treasury dollars were melted and exported. But, before that a curious situation 1 very end. Far North. It Is difficult to realize, but It is none the less true, that the Murman coast of Russia, which the allied ' troops recently occupied, j north a8 King William land, where j sir John Franklin and his men aban Is as far t ) 0 ned the Erebus and the Terror. But j the gulf stream makes all the cllmat the ber and 1c difference. For that reason it is possible for Quebec to be much far ther south than London and Boston and New York to be on the parallels of latitude of Spuin and yet have win ters of great severity. NOTICE OF ASSESSMENT. No. 1. Office of the Mingo Chief Mining Company, Limited, Wallace, Idaho, October 4, 1818. Notice is hereby given that at a meeting of the board of directors of the Mingo Chief Mining Company, Limited, held on the 4th day of Octo ber, 1918, an assessment of one (1) cent per share was levied upon the capital stock of the corporation, pay able to John H. Van Dorn, treasurer, at his office in Sweet's Hotel, Wal lace, Idaho, on or before November 12. 1918. Any stock upon which this assess ment remains unpaid on the 13th day of November, 1918, will be delinquent and advertised for sale at public auc tion, and unless payment is made be fore will be sold on the 12th day of December, 1918, to pay the delinquent assessment, together with the costs of advertising and expenses of sale. L. L. SWEET, In C. The in Secretary, JOHN H. VAN DORN, Sweet'8 Hotel, Wbliace, O10-N7-St at Treasurer, Idaho. NOTICE OF ASSESSMENT. Office of the Tyler Mining and Milling Company, Limited, Burke. Idaho, September 10. 1918. Notice Is hereby given that at a meeting of the board of director, of the Tyler Mining and Milling Com pany, Limited, held at the office of the company In Burke, Idaho, on the 10th day of September, 1918, an assess ment of two (2) mills per share was levied upon the capital stock of the corporation, payable on or before the 16th day of October, 19X8, to Albert Hausaman, secretary-treasurer of the company, at Burke, Idaho. Any stock upon which this assess ment remains unpaid on the l*th day of October, 1918, will be delinquent and advertised for sale at public auc tion, and unless payment is made be fore, will be sold at the office of the company, Burke, Idaho, on the 20th day of November, 1918, at 7:00 p. m. of said day. to pay the delinquent as sessment thereon, together with the costs of advertising and expenses of sale. S12-O10-5t ALBERT HAUSAMAN, Secretary. NOTICE OF A88E88MENT. Office of the Oreano Mining Company, Limited, Wallace, Idaho, October 7, 1918. Notice is hereby given that at a meeting of the board of directors of the Oreano Mining Company, Limited, held on the 5th day of October, 1918, an assessment of two (2) mills per share was levied upon the outstand ing stock of the corporation, payable on the 5th day of November, 1918, to F. P. Oandee, secretary-treasurer, 308 Third street, Wallace, Idaho. Any stock upon which this assess ment remains unpaid on the 5th day of November, 1918, will be delinquent and advertised for sale at public auc tion, and unless payment Is made be fore will be sold on the 7tli day of December, 1918, at 7:30 p. m. to pay the delinquent assessment, together with the cost of advertising and ex penses of sale. F. P. CANDEE, Secretary-Treasurer of the Oreano Mining Company, Limited, 308 Street, Wallace, Idaho. O10-31-4t NOTICE TO CREDITORS. In the Probate Court of the County of Shoshone, State of Idaho. In the Matter of the Estute of Thomas B. Dennis, Deceased. Notice is hereby given by the un dersigned, Thomas McCabe, executor of the estate of Thomas B. Dennis, deceased, to the creditors of and all persons having claims against the said deceased, to exhibit such claims, with the necessary vouchers, within four months after the first publica tion of this notice to the said Thomas McCabe, executor, at the office of the Wallace Miner, Wallace, Shoshone County, Idaho, which the undersign ed selects as the place of business in all matters connected with said es tate of Thomas B. Dennis, deceased. THOMAS MeCABE, Executor of the Estate of Thomas B. Dennis, Deceased. Dated this 3rd day of October, A. D. 1918, and first published October 10, 1918. JOHN L. FITZGERALD, Attorney for Executor. O10-31-4t im and the A a In of in is NOTICE OF ASSESSMENT. Office of the Western Union Mining Company, 1210 Old National Bank Building, Spokane, Washington, September 3, 1918. Notice is hereby given that at a regular meeting of the board of di rectors of the Western Union Mining company, held at Wallace, Idaho, on the 3rd day of September, 1918, an assessment of five (5) mills per share was levied upon the outstanding cap ital stock of the corporation, payable on or before the 15th day of October, 1918, to Ben L. Collins, secretary treasurer, at his office, 1210 Old Na tional Bank building, Spokane, Washington. Any stock upon which this assess ment remains unpaid on the 15th day of October, 1918, will be delinquent and advertised for sale at public auc tion, and unless payment is made be fore will be sold on November 15, 1918, at the court house, Wallace, Idaho, at 3; 00 o'clock p. m. of said day, to pay the delinquent assess ment thereon, together with the costs of advertising and expense of sale. BEN L. COLLINS, Secretary-'IYeasurer of the Western Union Mining Company; 1210 Old National Bank Building. Spokane, Washington. S12-O10-5t Notice of Poetponement. Notice is hereby given that by or der of the board of directors of the Western Union Mining company, the time for iwyment of the above as sessment has been extended from Oc tober 15, 1918, to November 15, 1918, and the date of delinquent sale has been postponed from November 15, 1918, until December 15, 1918, at the same hour and place above named. BEN L. COLLINS, Secretary-Treasurer of the Western Union Mining Company, 1210 Old National Bank Building, Washington. is Spokane, O10-N14-6t NOTICE OF ASSESSMENT. Notice is hereby given that at a meeting of the board of directors of the Buffalo Mining company, held in the • Brunswick hotel at Missoula, Montana, September 30, 1918, sessment of ten (10) mills on share of capital stock was ltnled, pay able on or before November 1918, to Geo. Dunham, treasurer of said com pany, at the Brunswick hotel or 321 Pine street, Missoula, Montana. Any stock upon which this assess ment is not paid on or before Novem ber 5, 1918, will be declared delinquent and advertised for wile at public tlon, and unless payment is made be fore will be sold on the 4th day of December, 1918, to pay the delinquent assessment together with the cost of advertising and expenses of sale. J. W. CONROY, Secretary of the Buffalo Mining Com pany, 334 Alder Street, Missoula, Montana. O10-31-4t is an as each auo ALIA8 SUMM0N8. In the Justice Court for Wallace No. 1 Precinct of Shoshone County, Ida ho, Before L. Lelghty, Justice of the Peace. C. H. Boyles, plaintiff, Deshon, defendant. vs. G. H. The State of Idaho Sends Greeting to the Above Named Defendant: You are hereby summoned to in the above entitled court to be held at Gyde-Taylor block in said precinct appear ' THE UNITED-STORES'CO. ^GROCERIES'#* WALLACE MULLAN BURKE PF.niAL ATTENTION to Miners' and s is given Prospectors* patronage. We Know We Can Save You Money—Give Us a Trial In the above entitled cause at 10:00 the 1st day of No answer plaintiff's in said court, or o'clock a. m. upon vember, 1918, and complaint on file plaintiff will take Judgment against you as prayed in said complaint. Witness my hand this 25th day of September, 1918. L. LEIGHTY, Justice of the Peace. S26-031-6t NOTICE OF ASSESSMENT. Assessment No. R-2. Notice is hereby given that at meeting of the board of directors of the Lucky Swede Gold & Coppc- Min ing company, held on the 18th day of September, 1918, an assessment of a in'lls per share was levied upon the outstanding capital stock of the cor poration, payable on or before Octo ber 19, 1918, to John F. Ferguson, treasurer, Shoshone building, Wallace. Idaho. Any stock upon which this assess ment remains unpaid on the U4Ji day of October, 1918, will be delinquent and advertised for sale at public auc tion, and unless payment Is made be fore will be sold on the 19th day of November, 1918, to pay the delinquent assessment, together with the costs of advertising and expenses of sale. JOHN F. FERGUSON. Treasurer, Shoshone Building, Wal lace, Idaho. a 03 Notice of Postponement. Notice is hereby given that by or der and resolution of the board of di rectors of the Lucky iSwede Gold & Copper Mining company, the time for payment of the above assessment has been postponed from the 19th day of October, 1918, to the 1st day of No vember, 1918, and the sale of delin quent stock has been postponed from the 19th day of November, 1918, to the 26th day of November, 1918, at the same hour and place above de scribed. JOHN F. FERGUSON, Treasurer of the Lucky Swede Gold & Copper Mining Company; Shoshone Building, Wallace, Idaho. O10-31-4t NOTICE OF ANNUAL MEETING OF STOCKHOLDERS. Office of Rockford Mining Company, Limited, Wallace, Idaho, October 9, 1918. Notice is hereby given that by or der of the board of directors of the above named corporation, the annual meeting of said company (in the na ture of an adjourned annual meeting) will be held at the office of the com HOWES & KING GROCERS The Store That Hat Stood the TEST OF TIME. Established in 1886. Fresh Stock Full Weight Prompt Delivery Fresh Fruit and Vegetables in Season. Phone: 194 606 Bank St. pm When you bay ••• Sunset Bod Your money stays at home The product is second to none pany, to-wit: The office of Walter H. Hanson in the Gyde-Taylor building at Wallace, Idaho, on the 1st day of November, 1918, at 7:30 p. m. Said meeting is called and will be held for the purpose of electing a board of five directors, to pass upon bills, reports of officers, communica tions, to authorize expenditures and to do any other business that might legally come before a regular annual meeting of the company. WALTER H. HANSON, Secretary. O10-31-4t NOTICE OF ASSESSMENT. Office of the Cedar Creek Mining & Company, Limited, Development Wallace, Idaho, September 28, 1918. Notice is hereby given that at a. meeting of the board of directors of the Cedar Creek Mining & Develop ment Company, Limited, held on the 28th day of September, 1918, an as sessment of one (1) mill per share was levied upon the outstanding capi tal stock of the corporation, payable on or before the 28th day of October, 1918, Treasurer, of the corporation, at the office of the company, 710 Hotel street, Wallace, Idaho. Any stock upon which this assess ment remains unpaid on the 28th day of October, 1918, will be delinquent and advertised for sale at public auction, and unless payment Is made beforo will be sold on the 29th day of Novem ber, 1918, at 7:30 p. m., of said day, at the office of the company, 710 Hotel street, Wallace, Idaho, to pay the de linquent assessment thereon, together with the costs of advertising and ex penses of sale. to Wm.- Becker, Secretary WM. BECKER, Secretary-Treasurer, of Cedar Creek Mining & Development Company, 710 Hotel Street, Wallace, Idaho Oct.-3-to-31-5ts. NOTICE OF ASSESSMENT. Office of the Tarbox Mining Company, Wallace, Idaho, October 9, 1918. Notice is hereby given that at a meeting of the board of directors of the Tarbox Mining company, held on the 5th day of October, 1918, an as sessment of ten (10) mills per share was levied upon the outstanding cap ital stock of the corporation, payable on or before the 5th day of Novem ber, 1918, to R. E. Seysler, secretary, 426 High street, Wallace, Idaho. Any stock upon which this assess ment remains unpaid on the 5th day of November, 1918, will be delinquent and advertised for sale at public auc tion and unless payment is made bp fore will be sold on the 5th day of December, 1918, at 7:30 p. m. of said day at the office of the company, 426 High street, Wallace, Idaho, to pay the delinquent assessment thereon, to gether with the cqsts of advertising and expenses of sale. R. E. SEYSLER, Secretary of Tarbox Mining Company, Wallace, Idaho. O10-31-4t