In presenting this address I am conscious of the honour that has been paid me in my election to this important office, and I am very aware that I follow, in the position of President, many distinguished men who have led the Institute over the 70 years since its inauguration in Broken Hill in 1893.It is perhaps appropriate tonight that I intend to talk about a metal which recalls the birth-place of the Institute, and is also one with which I have had a direct association throughout the whole of my working career. This metal is Silver.Silver is associated traditionally in everyone's mind with money and silverware, and has always been prized for its natural beauty and elegance. It is today one of the few metals in which world consumption has outstripped production, and the events which have occurred to bring about this situation make an interesting story.In telling this story, I propose firstly to indicate our development as a silver producing country, give an historical review of the metal, trace its use as currency and the factors influencing its price, and then say something of the old and new uses of silver. Finally I shall give some comments on silver production in Australia today.Australia, with 6-5 per cent of the world's output of silver, ranks sixth among the producer countries and over the years has contributed 892.5 million ounces to the world's supply which, based upon production since the discovery ofAmerica, is estimated to have been 22,150 million ounces or nearly 680,000 tons.Although our production appears relatively small by...