IC 6647 Silver Consumption In The Arts And Industries Of The United States In 1930 And 1931 ? Introduction

Silver consumption in the arts and industries of the United States during 1930 and 1931 has remained remarkably near the high level established in 1929. Undoubtedly the sharp drop in the price of silver has been an important factor in supporting consumption, but silver's peculiar properties and uses probably have been an even more compelling reason for its sustained utilization. In its most important use - sterling silverware - it seemingly has most serious competition, but well established tradition protects the demand for sterling ware and the law forbids the term "sterling" to be applied to any material not containing at least 92.5 per cent silver. The photographic industry is dependent upon properties of certain silver salts possessed by no other material. Consequently silver is indispensable to all photography, including the huge motion picture industry. Other uses for silver could be listed which, because of special features, likewise have tended to maintain the consumption of silver in the arts and industries of the United States. The figures which this report makes available for the first time are the detailed silver consumption figures for the arts and industries of the United States for 1930 and 1931. These figures have been tabulated with the previously published(3) figures for 1928 and 1929 thus presenting a 4-year statistical record of silver consumption. All quantities are given in troy ounces, 1,000 fine.