This also throws considerable doubt on the figures recently placed before the Japanese Diet, according to which the Chinese Government is supposed to have exported £73,000,000 worth of silver since November, 1936 and to have sold £43,000,000 worth in order to offset an adverse trade balance, flight of capital and heavy purchases.
How £43,000,000 worth of silver, or over 500,000,000 ounces of the white metal, the paper continues, can be disposed of without disturbing the market is a mystery, since the total of United States purchases last year amounted to no more than 312.- 000,000 ounces. Of this amount 70,000,000 ounces emanated from do-mastic production and only the balance of 241,000,000 ounces comprised ported silver.
Actually, the best authorities in London place the total of the Chinese shipments over thit period o' no more than 500,000,000 ounces, of which, at least, 200,000,000 ounces are still unsold.
With regard to the future, th-journal declares, there seems to be o reason for a change in the earlier jew that the metal should be entering a period of quiet stability.
Text read from the printed page and cleaned; old type leaves the occasional error.