Hon. J. L. ILSLEY (Minister of Finance):
Arrangements have been completed with the major silver refiners whereby approximately fifty per cent of the silver which will be refined by them in 1946 will be reserved for domestic consumers and sold in Canada at Canadian silver prices. This silver will be distributed in accordance with normal usage. At the same time arrangements have been made by which small silver producers in the Cobalt area whose silver is refined in Canada will receive the export price for their production. The small producers in British Columbia whose silver is refined at Trail, British Columbia, will be treated in the same manner. The mint has agreed to pay gold producers shipping
bullion to the mint the export price for one-half of the by-product silver recovered and the domestic price for the other half.