The Recovery of Germany's Opt-put to Above Pre-war Total Reporting from London on July 9, Messrs, Samuel Montagu & Ca. has been considerable side displayed during the week. Neither buyers nor sellers have been eager to operate. A certain amount of bear covering has taken place and the Continent has age taken some silver for coinage purposes, but the Far East has. been slow to do anything on this! side. Amerien has kept in touch with the market by moderate offerings, and the Continent has been a seller on a small scale.
The production of silver in Germany appears to have recovered from the restrictions imposed upon. it by the War. The output for 1912 was 4,984,677 fine ounces; for the years 1914/19 no returns have been published, 'The total for 1920] was 3,305,000 ounces, and for 1921 3,887,400 ounces, but' that for 1922. rose to 5,372,600 ounces—that to say, about 8 per cent. above the pre-war total.
A recent bulletin of the American Mining Congress stated that Representative Richards (Democrat, Nevada), in urging the passage of the Bill to require the U. 8. Trea sury to purchase fourteen million ounces of silver at $1 per ounce, under the Pittman Act, said that the government had failed to carry out the law, to the detriment of the Wer industry. He deplored antagonism toward silver as money. and advocated giving silver a fixed money value.
'The silver quotations to-day for ash and two months' delivery are each ¥4d. above those fixed a week ago.
Text read from the printed page and cleaned; old type leaves the occasional error.