The bullionists have a practical in terest in this and their argument is that silver is still very cheap to all members of the Gold Bloc and the United States Government. The latter pays for the domestic output of silver in paper dollars, but when buys silver abroad, it stands ready fo pay gold for it if gold is demanded. Thus to the authorities in Washington to the treasuries of France, Bel-jum, the Netherlands and Switzer land the real price of silver in Lon: don Is 143% pence an ounce and not however, gambling on the "paper" price in buying silver with paper pounds accepting paper pounds when they sell, as they hope, at a profit.
Many in the London market think over-doing it and that they ried the price to an unstable There are two possible factors which might stabilize the price and justify the present level. One is that the export tax which China has imposed might actually be effective in curtailing shipments, a matter of dispute, and thus restrict the world's Supply of silver. The other factor <jthe possibility that the Gold Bloc countries may buy several million ounces. for their subsidiary curren cles—United Press,
Text read from the printed page and cleaned; old type leaves the occasional error.