Washington, Nov 8.
Mr, Silas Strawn, noted Chicago lawyer who is a member of the American Committe> of the Interna tional Chamber of Commerce, announced here today that negotiations are under way to make effective the recommendations of the Chamber's silver committee for an international conference to increase and stabil-ise silver values.
The negotiations are being conducted by private groups with the Governments most concerned with the silver problem, Mr. Shouse said. He recalled that since the International Chamber of Commerce held its Convention in Washington al months ago no Government has made a definite move in favour of an international silver conference of the sort the convention recommended in a resolution—United Press.
Chinese Government to put the Surreney of the country upon 2 fraid basis, it can hardly be ques-foned that, for, any years to come, silve® will remain the, pri final basis of monetary eiteul ion tu. Chin We believe that at the moment China could bear & moderate and gradual rise inthe gold value of fis currency but not a heavy oF rapid one. Se far ax India is con-Jeerned, apart from the interest of the Government with its vast stock fof silver rupees, a sudden and vio-fent rise in the "price of silver ould only check its absorption by the population of that country.
Of the total annual production] of silver, estimated for ft ges. than. 200,000,000 02 forger. proportion is' at present controlled by a few corpor America who, if they had a working agreement with the Indian Treasiry, giving all participants a seasonable "quota of world ble of keeping silver tata price fair to both buyers and sellers 80 long as they supply the market with judgment.
not generally realised that present price, the value of year's production of silver is fonly about $56,000,000, The annual demand for silver {includes about 50,000,000 oun for industrial consumption. We may take it that this would be Dought almost irrespective of price. There remain, therefore, the Indian and the China demands. The former has remained steady for the last three years and does not. depend entirely' on the price.
'The difficulty is with China, if due attention is paid to the position in that country, this difficulty should not be' unsurmountable. It must be repeated that a in the price of silver means a ise in the China exchange a1 that any material rise would tend to diminish the exports and Jcrease the imports of that country, other things being equal, Although this would be of undoubted benefit
Text read from the printed page and cleaned; old type leaves the occasional error.