While U.S. gold is leaving Fort Knox in uncomfortable quantities and dominating the economic news another precious metal is rapidly draining out of the federal vaults at West Point, N.Y.
The national silver hoard declined by 23% last year, and a conspicuous symptom that the trouble is continuing is the nagging shortage of U.S. coins. Last week the U.S. Treasury told a congressional subcommittee, which is brooding over ways to ease the shortage, that the Government may well have to alter the 90% silver content of dimes, quarters and halves. This has led powerful business groups into the...
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