New York, Nov. 19.
The Chinese tax on the export of silver has shifted attention to India, the principal source of supply, says the National City Bank "Review" to-day.
Indian treasury stocks are now about $38,000,000 ounces, 118 million ounces less than they were in 1931, but there are vast hoards in the hands of private owners reluctant to sell hoping for higher prices.
If China and India withhold supplies, the "Review" says, prices could Teach 129 gold cents an ounce, but such heights guld not hold unless other governnients ce-operate buying.
It the United States continues to push up prices, China. will be forced. to a higher and higher tax to defend her monetary system, the "Review" concludes—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.