British and Indian Prohibition of Imports Important Factor; U.S. Policy decisions of the British and Indian Governments to prohibit the import of silver except under licence introduces a new and important factor in the silver situation. Their importance is most apparent in the position of the London silver market, which has virtually been placed in cold storage by them. But by ewphasizing the isolation of the United States as the upholders of a metal of which they produce less than a quarter of the world's output, these decisions are likely ultimately to influence United States silver policy.
Through that all-important link they may affect the fundamental prospects for the metal, states "The Economist."
Let us first ask why the ban was imposed. The relevant Board of Trade Order was issued here on October 26, and the Indian Government followed suit four days later. The reason for our initiative is not to be found in a parallel with the various Government controls of base-metals and with the restrictions placed on free dealings in them. The ban was imposed here in order to prevent an unwanted influx of silver from abroad encroaching on our gold and foreign Currency reserves. Since the London market was, in the main, the entrepôt eight months statistics dists 23 205 31 2 58 +08 as Atlantic, and their recent arrival has now remedied the shortage which existed in the London market.
Text read from the printed page and cleaned; old type leaves the occasional error.