The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1917-11-22
Mining Associations Execu-
tive Committee Called to
Meet at Wallace.
TO DISCUSS REMEDY
Producers Alarmed Over Drop
in Silver and Embargo Es-
tabhshed by British.


producers Of metals in this state over
the provisions Of the war revenue tax
act, signed by President Wilson Oct
3, and its effect upon the producing
mines Of Idaho, that call has been
issued for a meeting Of the executive
committee OF the Idaho Mining ass0-
ciation at Wallace, Nov. "a at 2 80 D.
m, for conference on the serious con-
dition arising with respect to the fix
ing the price of lead, silver, etc. At
the same conference transportation
taxes, draft conditions affecting labor
and the need Of representation by the
producers In the deciding Of these vi
tai matters, rather than by manufac-
turing branches of the industry, will
be taken up. All mining men interest
ed are invited to attend the meeting
of the committee. 1t Is held by mining
men that the setting OF prices on silver
alleged to be contemplated would close
down some of the big mines in this
state. Steps vii be taken to call the
attention of the administration to the
alleged unjust provisions of the rev.
enue act, says the Capital News.
Want Fair Prices.
Speaking Of the meeting and the sit
uation that confronts the men en-
gagged in the mining industry, Ravenel
Macbeth, secretary of the Idaho Min
ing association, said:
Producers are alarmed over the
drop I'm silver which was caused by
the British governments embargo on
the importation of silver into India
where the greatest demand exists, and
what amounts to an embargo on the
expectation of silver recently imposed
by the American government and the
statement which emanates from high
official sources, that 1t is the inten-
tion Of the government to fix price
for silver much less than Sc cents and
which, If done, would result in the
closing down of q number of Idaho
mines that are at present giving en-
pl0yment to large number Of men.
"As to lead, the federal accountants
have about concluded their examina-
ti0n of the cost sheets Of the various
lead producing properties In the sew
eral lead producing states, and 1t is up
to the lead producer to see that he
receives a fair price for his product In
stead Of permitting the manufacturer
10 fix the price.
A CHASTITY Exhibition.
"As to the war revenue tax act, the
Engineering and Mining Journal Of a
recent issue has this to say:
Tt is CHASTITY exhibition of the
inefficiency of the congress of the
United States that a month after ii
enacted q piece of major legislation
for, certainly, the war tax law may
be so characterized--nobo yet
knows what it's most important sec.
tion--the war excess profits tax-real-
ly means. Both the senate and the
house repudiated the recommendations
OF their own committees of experts
tore their respective drafts to pieces
failed to come to an agreement with
each other, let an entirely new bill be
drafted in the conference committee
wherein the uncouth and unlettered
kitchin buffaloed his colleagues with
threats OF holding up the whole bust
ness-and, finally, the two houses OF
congress enacted blindly this bill
whereof they did not know the terms
and the meaning, such as they were
Nor have the ablest legal minds of the
country since then been able to un
.ravel them
Gives Illustrations.
As an illustration of the operation
OF this act will say that there are TIVE
mines having ground Of equal valu,
and paying dividends in an equa
amount One mine, which we will cal
A, is capitalized for 81, 600, 900 and tn,
other which we win call b, is capital
lied for $10,O00.00O and both mines
paying 100000 per annum The &C
provides an allowance of o per cen
on capitalization and which would giv'
A, $4,000 and Il, $9OO,000 A wouls
oe required to pay 90 per cent wa
tax on the difference between the 500,
600 allowed and 100000 dividends
thus giving war tux of $4S6. 900, whil'
would not be called upon as the
per cent, $500, 900, allowed on capital
zation would cover the dividend t,
pay any war tax and / would stat
mat practically this conditions exist
n Idaho.
1t was the intent of the act tina
freight bills should pay 3 per cent bu
conditions In Idaho are such that SOM
" the properties have to pay 8 pc
cent and then the consumer pays a
Per cent additional freight charge. 70
instance, some Of the mines operating
IN the state ship their ore from fh
mine n, fha ,.s.s...s.s,t ssa ffuU rlaufc ai