The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1913-09-11
SCARCITY OF GOLD
VERY SERIOUS QUESTION
INCREASE IN PRODUCTION IS
NECESSARY TO BUSINESS
EXPANSION.

Philadelphia, Sept 2. More mpor-
the tariff and affecting more vitality
and directly the prosperity of every
man than any other question now be-
fore the country is the problem of the
production of gold, according to James
+. Callbreath, secretary of the Aneri-
can Mining congress,
Mr.. Callbreath believes that unless
the mining industry finds method OF
trea ting low grade ores at a profit
this country has reached the maximum
4, of its gold production. He furthel
says that an increase in the produc-
tion of gold is absolutely necessary
for any expansion of business, and
that unless this increase Is forthcom
ing, the United States will have to
stand still and merely mark time,
The Gold Question.
At the great national rally Of the
men representing the mining industry
which is to be held in Philadelphia
Oct. 90 to 25. the occasion being the
sixteenth annual convention II the
American Mining congress and the
First National Mining show, men OF
national reputation will discuss TIE
gold question as one of the most seri-
Gus moment 1t is likely that the
congress will request the federal "
eminent to take up at once, through
the national bureau of mines, the
question of the profitable treateent
of low grade ores.
That the United States has almost
reached a crisis In it's gold production
Is evidenced by the statement made b.
Mr. Calbreath in the official call fol
the convention Mr.. Callbreath says;
Support for Increasing Credit.
1.-The most formidable economic
problem which confronts the countr,
today lies in the inadequate metallic
support for the increasing cred'
necessary to continue business OK
pansion. The annual world production
of gold, less than half a billion dollar
value, is theoretically estimated t
furnish proper basis for credit eX
pansion of two anC one-half billlo
dollars, while the actual expansion q
the worlds credit approximates fly
billions annually. The United State
produces approximately one-tfth G
| worlds gold supply, but the pro
lportion of business expansion and &C
lcompanying credit is much greater
Latent Resources.
"The latent gold resources of tn
United States are ample for all need
but. the problems Of ore treatment al
so intricate and difficult and the grad
of ore so low that only by the highe;
deficiency can low grade ores be mine
at a profit. The fame of the west
based on her high grade ores, Ht
great wealth is in her low grade ore
where difference of so cents to
lin cost Of operation marks the dit
ference between success and fallur
Manufacturing Business.
Gold mining is now and Will con
tinue to be a manufacturing business
with every increase In productlo
costs adding to the burdens OF pre-
duction. Destroy credit money an
gold production will care for itsel
The larger amount of credit based o
gold, the greater handicap on produf
ton. Gold does not create basis
credit in the hand Of the produce
1t serves as one unit in the purchaS
of labor, machinery and supplies
a market and at a price based on Tn
FIVE unit volume of credit none
which 1t sustains. This is not loci
question. 1t Is national question
The interest of the whole people WI
be served by liberal national aid
the solution of the scientific meta
lurgical problems upon which rest 'f
future of gold production. The metf
by which these problti,s ma
find solution will furnish perhap
the most important discussion AT u
convention of the American Mimi