New York, Jan. 8, After reviewing the events' of a BREE OF te ear 1098, Ateasrs indy & Harmon's annual silver review points out hat the joint tion of silver by India and China decreased from nearly 220, 00,000 ounces. in the prosperous 'Years of 1928 and 1929 to only about 60,000,000 ounces in 1982 and' to a minog quantity: in 1033, Unless the demand' m the Orient improves. "sufficiently absorb the difference between the total annual supply and the amount used in industry and for coinage, Messrs Handy & Harmon say that the market. will have to contend with the unfavourable situation not only of the current 088, Of DrO= duction, but also offerings from discouraged speculators, Such holdings are estimated to be 175,000, ounces in New York and 20,000,000 ounces in London.
Mesers Handy "& Harmon say: "We do not believe that trade with India and China will be improved by enhancement of the price of silver unless this in accompanied by similar rise in prices generally. Our opinion is that the most likely: Tesult of an advance in' the price of silver "alone would be a tendency to stimulate sales of silver by these two, countries.'
The review further says: "A sub. stantial rise in the world price of for is dependent upon a resumption of large importations of the metal by India and Chnia and their ability to buy is contingent upon an improvement in economic conditions permitting them to sell their products in world markets at prices and in volume sufficient to create credit balances abroad, 'Messrs Handy mon that the world output of sliver" 1983 ix estimated at 163,000,000 ounces, of which the United States supplied, 21,400,000 ounces; Mexico 100,000 ounces; Canada 15,400, 005 ounces; South' America 13,500,- 000 ounces and the rest of the world 43,600,000 ounces.
Supplies of demonetized silver in f Russia, A 1933 were 45,000,000 ounces from
'The Government of India sales of silver on British War" Debt Account were 20,000,000. ounces; Government of India sales in London were 80,000,000, ounces and ale by China amounted to. 16,000,- 100 ounces, 'The' total offerings of iver in "i983. were "273,000, gunees (the total oF the foregoing Messrs Handy and Harmon estimate world consumption of silver in 1093. -at, 273,000,000 "ounces. Of this amount India' consumed" 10, (000,000 ounces and Germany. 14, 500,000 onnes. "The arts and industries absorbed 24,000,000. ounces the United States and Canadat 8,000,000 "ounces - in. England and 10,000,000 ounces in Mexico, Coiniage estimated to have accounted for 16,000,000 ounces in Mexico; 7,000,- 000 ounces, in Belgium: 4,500,000 ounces. in. Turkey" and 22, 700,000 ounces in the United States on' ace count of War Debt payments. and 2,000,000 ounces for. subsidiary coinage. The balance: ye London, Jan. 11.
Messrs.
Mocatta Goldsmid re-Port: Business hgs been small during The past week. America has Renerally bee hi u seller during the afternoons while China has been a buxar,, of, the, fixings, Little....busi-
Text read from the printed page and cleaned; old type leaves the occasional error.