The Story of Silver
Page 41
Li Ming, 66, 271n39
Lincoln, Abraham, 17, 29
Lindeman, H.R., 256n3
Lindley, Ernest K., 95
Lippmann, Walter, 50
Livermore, Jesse, 224
Lloyd George, David, 44
Lombardi, Vince, 1
London Bullion Market Association, xv, 237
López, Roberto, 80–81
Louis XIV, 5
Lovell, Christopher, 236–37, 240
Lowe, John, 110
MacCambridge, Michael, 293n65
Madonna, 61, 270n9
Madison, James, 10
Malkiel, Burton, 253n2
Malthus, Thomas, 33
Manhart, Joanne, 236n, 312n25, 313n35
Manhattan Project, 97–98, 100
manipulation, definitions of, 196, 225, 240–41, 301n79
Mansfield, Mike, 112, 121, 124
Manufacturers Hanover Trust Company, 232–33
Mao Tse-tung, xviii, 8, 85, 87, 250
Markham, Jerry W., 297nn19–20
Marshall, John C., 97
Marx, Groucho, 79
Mattey, Charles, 294n1
Mays, Willie, 137
McCarran, Pat, 99, 100–102, 105, 107–8
McCarthy, Joseph, 99
McCurley, Mike, 234
McDonald, Jesse, 58
McFadden, L.T., 43
McKinley, William, 8, 17, 27, 33–34, 102, 107, 146
Mehta, Dinsa, 236
Merrill, Charles, and Helena Meyer, 281n18
Merrill Lynch & Company, 158, 194, 211, 213, 216–17
Mexico, 36, 80–81, 88, 90, 168–70, 176, 196, 204, 257n16, 269n32
Minpeco S.A., 200, 224–26, 230–33
Mint Act, 126, 277n6
Mintz, Lowell, 205
Mirror Manufacturers Association, 102
Mobruk, Ezzeldin, 155–56
Mocatta, Moses, 148
Mocatta & Goldsmid, 141–42, 145, 148–49, 195
Mocatta Metals Corporation, xiii, xix, 149, 160, 168–70, 179–80, 184–85, 190–94, 206, 293n64, 300n50. See also Jarecki, Henry
Moley, Raymond, 51, 66, 265n27
Morashti, Omer, xiv
Morgan, Edwin, 21
Morgenthau, Elinor, 81
Morgenthau, Henry, Jr., 8–9, 53, 54, 62–65, 90–91, 97, 171, 200–201; biographical sketch of, xviii; China silver crisis and, 67–75, 78, 277n75; Manhattan Project and, 96–97, 279n35; Roosevelt and, 53–55, 57, 64, 67–68; World War II and, 95–97, 100
Morison, Elting E., 279n41
Munger, Charlie, 238–39, 244
Murdock, Abe, 101
Murphy’s Law, 13
Musco, Sebastian, 203
Mussalem, Ali bin, 186
Nahas, Naji, 181–82, 188–89, 211, 214, 215, 216, 223; Hunts trial and, 225, 228, 230
Napoleon III, 20
Nelson, Donald, 95–96
Nessim, Raymond, 206, 208–9, 210–11
Nevada (as Silver State), xvii, 15, 39–40, 43, 58, 90, 93, 99, 107–8, 114, 124, 219, 250
Nevada Hills Extension Mining Company, 40
New England Manufacturing Jewelers and Silversmiths Association, 100, 167
Newton, Isaac, 13, 257n12
New York Gold Refining Company, xiii
Niagara Hudson Power Company, 100
Nixon, Richard M., 7, 104, 147, 157, 251, 293n73
Norris, Richard, 121
Norris, Robert S., 279n35
Nugent, Walter K., 255n24
Occidental Petroleum, 219
O’Leary, Arthur, 146–47
O’Leary, Paul M., 259n12
Oliphant, Herman, 55, 83
Oppenheimer, Bob, xiv
Oswald, Lee Harvey, xviii–xix, 104, 118
Pacific State Telephone Company, 40
Pahlavi, Mohammad Reza, 176, 183
Palmieri, Don and Angelo, xiii, 253n8
Panic of 1893, 30, 33
paper currency, 7, 35, 46, 92, 109, 113, 114–15, 123, 187, 251–52; in Asia and the Middle East, 60, 82–83, 87, 175; Hunt’s contempt for, 157, 171, 181
paranoia and success, 173
Paris, James D., 255n28
Paris Monetary Conference, 20–21, 24
Pastore, John, 115
Patman, Wright, 111, 127–29
Patton, George, 172
Paul, Ron, 248, 315n36
Pell, Claiborne, 115
Penrod Drilling Company, 306n61
Peru, 168, 170, 176, 196, 200, 204, 269n32
Peters, Gerhard, and John T. Woolley, 268n25
Phibro, 236–37, 240
Pick, Franz, 127, 141, 195–96, 207
Pierce, Franklin, 45
Pittman, Key: background of, 39–44; biographical sketch of, xvii–xviii; China and, 58, 60, 61, 65, 74–75; death of, 99; India and, 3; Morgenthau and, xviii; photographs of, iii, 42, 74; Roosevelt and, xviii, 8, 38, 41, 49, 51, 52, 57, 250; silver politics of, 52–53, 56, 62, 63, 65, 67, 80, 89, 90, 108, 172; wild side of, 52–53, 151
Pittman, Mimosa, 39–40, 41
Pittman Act, xviii, 43–44, 137, 263n15
Placid Oil Company, 2, 155, 161, 213, 221–23, 232
Platt, Edward, 43
Platt, Robert, xiv
Portugal, 19, 246
private currency, 123, 215
Progressive Ring Company, 100
Proxmire, William, 210
Qaddafi, Muammar, xx, 2, 155–57, 159, 161
Racz, Andrew, 215
Ray, Hugh, 233
Ray, Ruth, 155
Reagan, Ronald, 32
Reconstruction Finance Company, 55–56, 101
Redlich, Fritz, 135
Reed, Cameron, 279n36
Reti, Steven P., 260n30
Revere, Paul, xiii, xix, 107
Reynolds Securities, 294n3
Ricardo, David, 7
Ritchie, Donald A., 264n2
Robert, Albert, xiii
Roberts, George B., 87, 90–91
Robertson, A. Willis, 112, 118
Robinson, Joseph, 49, 51
Robinson, Nathaniel, 146–47
Rockefeller, Laurence, 106
Rockefeller, Nelson, 2, 106
Rockoff, Hugh, 261n45
Rogers, James H., 67
Rogers, Will, 48
Rolnick, Arthur J., and Warren E. Weber, 257n11
Rosenthal, Benjamin, 221–22
Rosenthal, Milton, 220–21
Roosa, Robert, 107
Roosevelt, Franklin D., 3, 37, 44, 52, 54, 74, 104, 157; Asia and, 72, 73–74, 75, 77; biographical sketch of, xviii; early career of, 38–39, 45, 54; gold politics of, 55–57, 61, 267n24; silver politics of, xviii, 8–9, 45–51, 55, 57–58, 61–64, 68, 71, 78–79, 84, 87–89, 103, 116, 141, 172, 218, 250–51; World War II and, 93–94, 154
Roosevelt, James and Sara, 38
Roosevelt, Theodore, 17, 38
Ross, John, 205
Ross, Stephen, 230
Rowan, Roy, 293n69
Ruby, Jack, 104
Ruggles, Samuel, 21
Rundle, Rhonda L., 254n13, 301n73
Russia, 23–24, 199, 302n90
Russo, Tom, 192, 210
Ruth, Babe, 220
Rutledge, David, 197
Ryan, J.P., and Kathleen M. McBreen, 281n4
Ryan, Patrick, 296n11
Salter, Arthur, 59, 269n45
Sargent, Thomas, 253n9, 275n54
Saudi Arabia, 4, 175–76, 180–82, 190, 296n2
Saudi Arabian Monetary Agency, 175–76, 214
Schacht, Hjalmer, 53
Schlesinger, Arthur, Jr., 267n6
Schwab, Charles M., 40
Schwartz, Anna J., 264n7
Scopes, John Thomas, 36
Scopes Trial, 36–37
Scrugham, James, 101
September 11 attacks, 242, 313n2
Septimus, Bernard, xiv, 301n73
Shane, Nat, 138
Sherer, Ron, 294n3
Sherman, Charles and Mary, 17
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nbsp; Sherman, John, 16, 17–26, 18, 112, 118, 250, 258n3; biographical sketch of, xvii
Sherman, William Tecumseh, 17
Sherman Antitrust Act, xvii, 17, 225
Sherman Silver Purchase Act, 24–25
Shoemaker, Willie, 181
Silber, Lillian, xiv
silver, 173;: in antiquity, 3, 12, 31, 196, 234–35, 249, 256n10, 301n73; appeal of, 4–5, 31, 196; currency uses of, xix, 3–5, 7–8, 10, 12–14, 16, 18–19, 21, 24–25, 31–34, 41, 46, 108, 109, 120–28, 147, 207, 247–48, 249–50; in golf balls, 207, 304n28; industrial uses of, 5–6, 56, 65, 68, 95–98, 101–2, 105, 108, 117, 125–26, 144, 162, 180, 239, 243–45; medicinal uses of, 196, 301n73; nationalization of, xviii, 62, 64–66, 116, 141; “secondary,” 91; theft and burglary of, 202–3; wartime uses of, 95–98, 100–101
Silver Act (1946), 102–3, 109
Silver Agreement (Proclamation and Statement Ratifying the London Agreement on Silver), 52–53, 56–58, 61, 63, 74, 78, 89, 103, 268n28
“silver bloc” senators, xvii–xviii, 8–9, 49, 62, 66–67, 71, 74, 78–79, 89, 91, 93, 99–101, 218, 250; after World War II, 103, 106–12, 115, 117, 127
silver certificates, 91–93, 92, 109–10, 113, 115–17, 125, 128, 144, 157, 215, 270n20; Jarecki and, 131, 135, 137–42, 147–48
silver dollars, 7, 10, 24, 32, 34, 43, 61, 91–92, 122, 204, 247, 247, 262n40, 277n6; Coinage Act of 1873 and, 4, 16, 19, 22, 112, 218, 258n5; in 1960s, 120–22, 124, 126, 131, 135
silver futures trading, xiv, 64, 115–16, 137, 141, 167–69, 209–10, 219, 254n19; Comex and, 160, 163–64, 165–66; Fonseco and, 200; Jarecki and, 184–85, 191–92
“silverites” vs. “goldbugs,” 25, 43, 51. See also “silver bloc” senators
Silvermann, Susan, 138, 147–48
silver mining, 15–16, 31, 39, 93, 102, 125, 176–77, 218, 243, 249, 257n16
silver prices (cash prices): charts of, ii–iii, 225–26, 230; during 1800s, 7–8, 15, 16, 22, 23, 24–25, 30, 47, 258n25; during 1910s, 41–43, 258n20; during 1930s, 47, 51, 53, 56–57, 61, 63–65, 68, 78, 81, 88, 90–92, 266n40, 270n22; during 1940s, 100–103; during the 1960s, 105, 112, 116–17, 121–22, 124, 131, 135–37, 139, 142–44, 258n20; during 1970s, 1, 2, 6, 157–58, 165–67, 170–72, 180–81, 183, 185, 186–87, 190–94, 199–200, 202, 226–27, 243, 254n18; during 1980s, 3, 205, 206–7, 208–9, 212, 215, 217, 219, 225; during 1990s, 236, 237, 239, 240; during twenty-first century, 6, 242–43, 245, 246–47, 253n7, 315n27. See also under Bryan, William Jennings; Hamilton, Alexander
Silver Purchase Act (1934), xviii, 8, 62–64, 67–68, 73, 77–79, 90–91, 93, 100, 108, 280n10; impact on China of, 77, 82, 89, 250, 275n54; repeal of, xix, 108–17, 251
silver ring (on Comex), xiv, 158, 170, 188, 194, 299n31
silversmithing, xiii, 4, 5, 101–2, 107
silver smuggling: in China and Japan, xviii, 8, 68, 73, 76, 81–82, 87–88, 275n47, 277n75; in India and Dubai, 204
silver speculators, xix, 6; in 1930s, 63–64, 66, 78–80; after World War II, 124–25, 127, 136–37, 141, 144, 158, 162–64, 195, 212–13
silver standard, xviii, 8, 14, 23, 25, 42, 44, 61, 80, 87, 255n31
Silver Thursday, 216–17, 219, 221
Silver Users Association, 102
silverware, jewelry, and housewares, 65, 100, 102, 105, 184, 202–4, 243
Sinclair, James, 183, 197
Sino-Japanese War, xviii, 9, 87, 250
“16 to 1” gold to silver price ratio, 14–15, 30–31, 196, 207, 215, 257n18, 270n15, 294n75; Bryan and, 36–37, 47–48, 143, 145, 163, 250; Wheeler and, 48–49, 52, 58, 62
Smith, Al, 45
Smith, Elizabeth R., 109
Smith, Jerome F., 162–64
Smith, Keith, 141–42, 145, 147–48
Smith, Roy, 287n41
Somers, Andrew, 48
Soong, T.V., 71, 74–76
soybeans, 167, 177–78, 195
Spain, 19, 246
Springsteen, Bruce, 244
squeezing. See cornering
Stahl, Charles, 166
Stalin, Joseph, 99, 154
Steen, Charles, 105–6
Steinbrenner, George, 158
Stephenson, Edward, 181
sterling standard, 5, 11, 146–47
Stern, Jean, 158
Stern, Siegfried, 69–70
Stevenson, Adlai, 117
Stewart, Donald, 188–89, 216
St. Germain, Fernand, 167–68
Stieff, Kirk, 202
Stimson, Henry, 96–98, 279n35
straddles, 184–85, 186, 298n16
Strauss, Simon, 116
Streeter, W.J., 303n12
Streussel (chauffeur), 132
subsidiary coins, 109, 129, 263nn14–15, 283n27
Sunshine Mining Company, 105, 176–77, 178–79, 186, 216
Sun Yat-sen, 68, 71
Super Bowl trophies, 1, 5, 161, 197
Sward, Bud, 207
Sweden, 23
Swiss Bank Corporation, 213, 229
Switzerland, 23, 133; Hunt bank deposits in, 163–64, 172–73, 195, 240
Sylla, Richard, xiv, 255n1
Sze, Alfred Sao-ke, 71–72, 77, 83–84
Taft, William Howard, 96
Tea Party, 2, 7
Temin, Peter, 257n16
Tendler, David, 220
Terminal Trading Company, 138, 142
Thoesen, M.E., 34
Thomas, Elmer, 50–51, 58
Thomas, John, 101
Thompson, Christine M., 256n10
3M Company, 168, 170, 180
Thurber, William, 102
Tiffany & Company, 1, 161
Tilson, Whitney, 314n10
Tonopah Extension Mining Company, 40, 52
Trial of the Pyx, 10–12
Trump, Donald, 251
Tuccille, Jerome, 291n4
Tuchman, Barbara, 276n68
Tuchman, Bruce, xiv
Turner, R.H., 102
Twain, Mark, 16
Tye, Frania, 155
U.S. Assay Commission, 12
U.S. Government, financiers’ mistrust of, 6–7, 163; Hunt family, xx, 2, 4, 157, 159, 163, 173, 200
U.S. Metals Refining Company, 97
U.S. Secret Service, 146
Van Ryzin, Robert R., 259n10
Velde, François, 253n9
vending machines, 39, 94–95, 108, 111
Vietnam War, 120, 143, 251
Viner, Jacob, 69
Viswanathan, S., 312n23
Volcker, Paul, 107, 217–18, 221–22, 251
Wachtel, Paul, xiv, 316n3
Wadsworth, A.W., 111
Walker, Francis A., 19–20, 255n24
Wall Street Crash. See Great Crash of 1929
Waltuch, Norton, 187–89, 194, 195, 208
Warburg, James, 52–53
Warner, A.J., 26, 118
War Production Board (WPB), 93–96, 100, 101
Warren Commission, xix, 104, 118, 281n3; LBJ on, 281n1
Washington, George, 10, 152
Weidenmier, Marc, 278n9
Weisman, John, 140
Welch, J.R., 293n59
Weston, George M., 19–20
West Point Depository, 90, 92–93, 96–98, 100, 101, 102, 140
Wheeler, Burton, 47–50, 52, 58, 62, 91
White, Compton, 112–13
Williams, Jeffrey, xiii, 230, 298n16
Williams, John Henry, 68–69
Williams, R. Hal, 262n33
Williams, Roger, 99
Willis, Henry Parker, 260n29
Wilson, Joseph, 39
Wilson, Woodrow, 36, 38–41, 54
Wonderful Wizard of Oz, The (Baum), xvii, 4, 25–26, 231, 261n45
Woody Herman and His Orchestra, 151
World Monetary and Economic Conference, 52–53
World War I, 3, 35, 38, 41–43; debts from, 51
World War II, 9, 47, 49, 87, 93–101
Wyler, Seymour, 253n9
Ybarra, Michael J., 280n2
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Young, Arthur N., 175–76, 272n5, 273n22, 296n2
Zimmerman, Donald, 203
Zweig, Jason, 314n10