I plan to mulch my acid-loving trees and shrubs with peat moss and compost.
Peat moss and compost are soil additives that are best if incorporated into the soil, which is difficult to do with existing trees and shrubs. A hardwood or root mulch would work better and be less expensive. All plants benefit from mulching. A mulch preserves moisture, reduces weeds and keeps lawn mowers away from bark and branches. It's a question of economies where you apply mulch.
Silver Maples are very sturdy trees and don't really need mulch. Plus mulching would encourge roots to grow higher in the soil. Silver Maples already send out surface roots. Some gradeners consider Silver Maples to be pests that break up driverways and sidewalks and prevent growing other plants underneath them. Also, their seeds are invasive pests in garden beds.