PURCHASES OF SILVER
AMERICAN TRANSACTIONS AGREEMENT WITH CANADA WASHINGTON, March 5. (Received March 6, at 10 p.m.) Mr Morgenthau announced that an agreement which the Treasury had en tered into with Canada through the Bank of Canada was expected to absord the entire annual output of new mined silver of the Dominion, totalling 16,000,000 ounces, at a price expected to be a quarter cent higher than that prevailing in the open market in New York. The Canadian agreement is similar to one 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 0,039,000 ounces of metal has been acquired since June 19, 1934, and the silver stocks are now approximately 21 per cent, off the gold base.
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Otago Daily Times, Issue 22824, 7 March 1936, Page 14
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134PURCHASES OF SILVER Otago Daily Times, Issue 22824, 7 March 1936, Page 14
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