The Silver Mania : An Exposé of the Causes of High Price Volatility of Silver

This is a definitive study of the phenomenon known as Silver Mania. The conclusions can all be stated in a few pages but the underlying facts are carefully presented to provide a basic under­ standing and to substantiate the conclusions. Most of those afflicted with silver mania are undaunted by facts; they don't want to be persuaded of the reality of things. Speculators do not learn from history, so this study is not for them. It is for the masses who have been innocent victims of silver mania, and who are able in a democratic society to correct injustices. Silver and gold and copper have a chemical as well as historical relationship. Both silver and gold were scarce until the discovery of silver in the Americas in the 1500's, and the scarcity ratio from pre-1500 is cited by silver bulls as a 'natural price relationship'. During the period that silver was becoming overly abundant it also came into wide usage as a monetary standard and this led to inflation. This was solved by demonetizing silver and the world was thus oversupplied with an attractive metal that was useful only for jewelry and tableware. Silver mines in the United States were the major source of newly-mined silver in the world and the mine operators were able to lobby successfully for legislation to support the price of their product until industrial use started increasing during the 1950's. Front Matter....Pages i-x Front Matter....Pages 1-1 Early Uses....Pages 3-8 The Period of Exploration of America....Pages 9-19 The Effect of the Industrial Revolution on Monetary Systems....Pages 20-23 Legislated Silver Price....Pages 24-39 Front Matter....Pages 41-41 All Metals are Precious....Pages 43-43 There are No Precious Metals....Pages 44-47 Low Mine Output Metals....Pages 48-53 Gold and its Relationship with Silver....Pages 54-77 Front Matter....Pages 79-79 Silver Mine Output....Pages 81-95 Secondary Silver....Pages 96-113 Front Matter....Pages 115-115 Use Versus Consumption....Pages 117-119 Industrial Usage....Pages 120-132 Front Matter....Pages 133-133 The Photographic Industry....Pages 135-140 Color Photography....Pages 141-144 Radiography....Pages 145-152 The Printing Industry....Pages 153-160 Other Market Segments....Pages 161-162 Silver Recovery in Photography....Pages 163-170 Present and Future Usage of Silver in the Photographic Industry....Pages 171-175 Front Matter....Pages 177-177 The Game....Pages 179-194 Front Matter....Pages 177-177 The Hunt Crisis....Pages 195-206 Silver Price in 1990....Pages 207-216 Back Matter....Pages 217-243