The Outlook for Silver

THE PURCHASE of silver by the United States Government under the provisions of the Pittman Act is practically completed. Producers of silver in this country will now have to market their silver in competition with the rest of the world. It therefore becomes of interest to study such data as are available and endeavor to obtain such suggestions as may be afforded therefrom as to the probable future market position of the metal. Conditions influencing the marketing of silver are numerous and complex. It is a commodity entering. into the arts and manufactures, and therefore influenced by the condition of various lines of business which make use of it; it is currency-being used by all countries for subsidiary coins and even as the founda-tion of the system by a very few; and it serves as a frequent basis for speculation. The various factors involved can easily set up so many cross-currents in the flow of the metal that predictions in regard to the market position of silver can never be safely made, although it may be possible to form some idea of prob-able trends over a sufficiently long period. Of course price is determined, as is the case with all commodities, by the inexorable workings of the law of supply and demand.