Word: silver
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
Park Utah Consolidated 2,759,678 oz. United Verde 2,092,418 oz. 3) Assuming U. S. silver production increases to 60,000,000 ounces a year, half of that converted into dollars and put in circulation will amount to less than $40,000,000. That much new money would be less than half the amount added to circulation in the week before Christmas, all in the ordinary course of Federal Reserve's operations. So direct inflationary effect would be trifling compared to other measures now afoot...
...Since the Mint will pay 64 1/2? an ounce only for silver newly mined in the U. S., the world price of silver will not necessarily rise to that level, will continue to be fixed by supply & demand. The proclamation will, however, remove 24,000,000 ounces (the U. S. quota) from world supply. This is about 20% of world production. This will undoubtedly tend to raise the world price but if private hoards of silver begin to leave India and China (which hold 600,000,000 oz.) or if Manhattan's silver speculators decide to dump their...
...world silver prices actually mount all nations will soon be laying down goods in China at very cheap rates in terms of China's silver money. Result of this dumping is likely to be deflation in China. Chinese workmen will be thrown out of work, and the probable result will be actual reduction of China's demand for foreign goods including U. S. cotton, oil, lumber...
...same day that President Roosevelt announced his new policy of buying and minting domestic silver (see above), he received an interim report from the RFC on his gold buying program. Out of $75,000,000 allotted it since the start of the purchase plan Oct. 26, the RFC had spent $17,000,000 on domestic gold, $45,000,000 on foreign gold. Therefore to maintain its buying power in the gold market the RFC was allotting itself another $25,000,000. President Roosevelt felt that $100,000,000 was a cheap price to pay for eight weeks of his experiment...
...matters could be dispensed with so easily." Elected an honorary life member of the New York Evening Sun's Sun Club was Elder Statesman Elihu Root, 88. onetime (1905-09) Secretary of State, Nobel Peace Prize Winner (1912). onetime Sun dramatic critic, onetime Sun attorney. He accepted a .silver card of membership, commented: "This makes me a bimetallist...