Mohave County miner., 1902-08-09
Gold Declining In Value

masses, the amount of effort required
to produce them long remained near.
~ constant quantity, from which fact
came the idea that they represented
definite and uniform values, In the
los large silver deposits became avail
able by reason Of the introduction of
improved machinery. The conse.
quence OF this was reduced cost of
production, and this reduced cost was
In few years reflected by fall 10 the
price Of silver compared with gold.
During the last decade concentrated
effort has been going into the produc-
tion of gold, exactly as it went int o the
production of silver some thirty years
ago. This concentrated effort has
been, and is now, reducing the cost of
producing gold. Owing partly to the
com paratively short time through
which the improved methods of pro-
ducing gold have been in operation.
and partly to the temporary shutting
off of the least expensive supply, by
reason Of the South African war, the
amount added to the general stock at
the reduced cost of production has
affected market values to only limit
ed extent. With the reopening of the
South African mines and a continu.
ence of the process of reducing the
cost of producing gold, its value as
purchasing commodity will decline.
1t is impossible to say to what extent
the value of gold will decline, but it
seems probable that during the next
twenty years the decline will amount
to about about fifty per cent
Whatever may be the extent of this
decline, we may be quite certain that 1t
will be considerable and will continue
for number of years. We may there
fore say that in the immediate future
prices will be stated In the units of
continually reducing value. in other
words, it will take an increasi ing
amount of gold to pay for articles
which have a uniform value.-C. L.
Redfield, in The Engineering Magazine
for August.
Some OF the papers of the territory,
that are supporting Colonel Wilson for
delegate to congress, are attempting
to work up feeling against G. NJ.
Shannon because he voted against the
eight hour bill introduced in the last
legislature. Mr.. Shannon voted against
the bill because il was unconstitution.
al. There is no state or territory 10
the Union which has such law. The
general government and the states
have laws regulating the hours of labor
Oh public works, but no state has the
right to regulate the hours of labor as
between individuals any more than it
has to set the scale of wages. But even
had the law passed it would not have
been Of any benefit to the laboring
class, because the wages would have
been cut down to correspond with the
drawing AZ per day would have had
his wages reduced 80 cents, or 24s per
month. While such law, IL not de
clared unconstitutional by the courts,
would have had the effect of putting
more men to work at a lower wage, 1t
would not have reduced their living
expenses, and therefore would have
proved a hardship rather than bene-
fit. In the winter months, most OF the
engineers of this section, at least, work
twelve hours, and are paid for twelve
hours. During the hot weather they
work eight hours aud are paid for
eight hours, and so it would be with
an eight hour day. Had this bill been
drawn to establish daily wage (Which
would also have been unconstitutionar
and had Mr.. Shannon opposed it, then
the wage Garner might have had fan
cied grivance against him. Mr.. Shan.
non is practical miner, and has put
in many day polishing the head of a
drill. He is not ouly miner, but for
years past has given employment to
miners, aud he has always been their
friend and companion. Mr.. Wilson
is not laboring man, neither has he
ever EN- mployed labor. He is a lawyer,
and good one, but 1t is little late
in the day to attempt to hold him up
as the champion of labor, especially
against man who has spent the best
years of his life prospecting and min
ing. Mr.. Wilson has been in congress