SILVER STOCKS IN U.S.
——— AGREEMENT TO ABSORB CANADIAN SUPPLIES (Received March 6, 8.56 p.m.) WASHINGTON. March 5. Mr Henry Morgenthau, jim. (Secretary to the Treasury), has announced that by an agreement the Treasury has entered into with Canada, through the Bank of Canada, it is expected to absorb the entire annual output of new mined silver from the Dominion, totalling 16,000,000 ounces, at a price expected to be a quarter of a cent, higher than that prevailing in the open market in New York. The Canadian agreement is similar to that with Mexico, and it is possible that others will be entered into with South American silver-producing countries. The latest Treasury calculations indicate that a total of 663,900 ounces of the metal have been acquired since June 19, 1934, and silver stocks are now approximately 21 per cent, of the gold base..
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Press, Volume LXXII, Issue 21726, 7 March 1936, Page 17
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142SILVER STOCKS IN U.S. Press, Volume LXXII, Issue 21726, 7 March 1936, Page 17
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