Improved Outlook for Gold and Silver

IN 1933, the monetary metals were produced in a ratio of 6.7 oz. of silver to 1 oz. of gold, the lowest relatively for silver since the period from 1851 to 1865. At the beginning of that period, the virgin placers of California -and Australia began producing almost simultaneously; in consequence, there was an abrupt fall in the high silver side of the ratio that had prevailed through the centuries after America was discovered. The output from the Comstock and other silver-bearing lodes, located a decade after this influx of new gold began, soon restored the production ratio to its former proportion, that is, a relatively large weight of silver compared to gold.