Page:EB1922 - Volume 32.djvu/520

 amounted to Rs. 66,41,00,000—against an average for the five pre-war years, 1910-4, of Rs. 21,99,00,000—it may safely be assumed that they were not likely to be purchasers of the metal for some years to come.

As regards China’s consumption, it is an almost hopeless task to supply anything approaching reliable data. The figures in Table 4, however, taken from the Chinese Maritime Customs reports may be taken as approximately correct they are, how- ever, given in Haikwan taels.

Imports into Hong Kong for the year 1920 were reported to be the equivalent of 7,049,700—the greater portion of which was probably dealt with by the mint in Canton. The stocks of silver held in Shanghai on Dec. 31 of the following years are shown in Table 5. The increase in stocks in 1920 over 1919—viz, taels 15,460,000, and dollars 18,420,000—represents the equivalent of an increase of about 31,030,820 ounces.

Table 5. Stock at Shanghai.

Taels

Dollars

Bar SiUcr

1917

1918

1919 1920

21,760,000 18,860,000 19,140,000 34,600,000

14, 040, o

13,470,000 11,260,000 29,680,000

357 4 242 nil

Prices. Table 6 gives the highest, lowest and average price of bar silver in London per oz., British standard 925 fine since 1833, from which it will be seen that the highest quotation recorded since 1833 was 8g|d. in 1920, the next highest being 79id. in 1919, 62fd. in 1859 and 62jd. in 1864. Though the highest point reached was in 1920, the average quotation for that year was only 6ii|d. against averages in 1859 of 62 Ad. and 6i|d. in 1864, which would point to more stable conditions existing in the silver market in the years 1859 and 1864 than in 1920. To the years 1902 and 1903 belong the honour of recording the lowest prices, viz. 2i}d., whilst the lowest average goes to 1915 with 23d. followed by 1909 with 23fd. When the Pitt- man Act became law in the United States, good authorities, not only in America but in England, made bold to assert that the result of this Act would be to stabilize the world's price of silver at not less than $i per oz., for many years to come, whilst Senator Pittman went further and predicted that the world's price would range between $i and $1.29 the parity of the American silver dollar for the next 20 years. The spot price in London on June i 1921, was 33 Jd., and the price in America on the same date for foreign mined silver was 60 cents nominal.

Table 6. Highest, lowest, and average price of bar silver in London, per oz. (British standard 0.925) from 1833 to 1920.

Year

Highest pence

Lowest pence

Average pence

1833

59%

5%

59%

1834

60%

59%

599?

1835

60

59%

59%

1836

60 %

59%

60

1837

6oy s

59

59%

1838

60 3^3

59%

1839

60%

60

6oy s

1840

60%

60%

1841 1842 1843

3 A 60 59%

59% 59% 59

60%

59% 59%

1844

59%

59%

1845

59%

59 %

1846

60%

59

59%

1847

60%

59%

1848

60

58%

59%

1849

60

59%

59%

1850

61%

59%

60%

Table 6. Continued.

Year

Highest pence

Lowest pence

Average pence

1851

6lR

60

61

1852

6l

59^

6oJ^

1853

6l

60%

61 H

1854

6iH

60 %

6iH

1855

6iM

60

6i

1856

62 X

6oy 2

61 K

i857

62 3 A

61

61

1858

(>i%

60%

6lK

1859

62%

61%

6a

i860

62*A

618

61%

1861

6i

6oy 8

6o!?js

1862

62^

61

6i

1863

6ij|

61

6i^g

1864

62 y 2

60%

6iM

1865

61%

(x>y 2

6l

1866

62%

6oy s

61}^

1867

61%

(x>y a

6oM

1868

6ij|

6oy s

60^

1869

61

60

60 J6

1870

60%

60^

60%

1871

61

60%

60^

1872

6iM

59%

6o>(J

1873

59%

57%

59?f

1874

59 1 A

57 1 A

58

1875 1876

57 & A

5y*

55% 46%

56% 52 M

1877

58%

53 1 A

54%

1878

55%

49 %

52%

1879

53

58%

5iM

1880

52%

51*2

52^

1881

52 y*

50%

51%

1882

52 3 A

So

5iH

1883

51%

50%

50%

1884

5iH

49%

5o%

1885

50

46%

48%

1886

47

42

45%

1887

47 1 A

43K

44%

1888

44

418

42^

1889

44%

4

42%

1890

54%

43%

47 3 A

1891

4%

43%

45J16

1892

43%

37%

39

J893

3%

30%

35%

1894

3* 3 A

27

28K

1895

3iN

vjK

29%

1896

31%

29%

30%

1897

29%

23%

27%

1898

2Sy s

25

26%

1899

29

26%

27%

1900

30%

27

28%

1901

29%

24%

27%

1902

26%

21%

24%

1903

28^

21%

24^

1904

28%

24%

26H

1905

30%

25%

27%

1906

33%

29 ,,

30%

1907

32%

24%

30%

1908

27

22

24 M

1909

24%

23%

23M

1910

26%

23 %

24M

1911

26y g

23%

24&

1912

29%

25%

28%

1913

29 3 A

26%

27%

1914

27%

22 %

25 '4

I9'5

27^

22%

23^

1916

37 1 A

26%

3I ^

1917

55

35%

40%

1918

49 1 A

42 %

47 tt

1919

79%

47 3 A

57 A

1920

89^2

61

SIMON, SIR JOHN ALLSEBROOK (1873–), British politician and lawyer, the son of a Congregational minister, was educated at Fettes, and at Wadham College, Oxford, where he was a scholar and was eventually elected an hon. fellow. He became pres. of the Union in 1896, and took a first-class in Lit. Hum. in the same year, being subsequently elected fellow of All Souls. He went to the bar, became Barstow Law scholar in 1898, and was called in 1899. His manifest abilities and the persuasiveness of his advocacy soon brought him into notice; he was chosen one of the counsel for the British Government in the