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Comment: Yes, but there are subtleties present.

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In reply to comment: So what I read from the graph (see in situ)

Yes, but there are subtleties present.

Understand that silver is HARD rock mining. This means cut into a mountain, take rock out, break it up and chemically separate the silver.
Using 1935's technology, you got well over an ounce of silver for every ton of ore you processed.
We have MUCH better access to back-country deposits now. We have MUCH more powerful equipment, and we have much better processing and refinement techniques. And now, we have to move 9 tons of ore to get just under an ounce of silver.

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