The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1918-08-22

tax and a one-tenth interest In the
factory; or in case of a farmer who
has 400 acres Of land, the government
should take 80 per cent excess profit
tax and 40 acres Of his land.
Before and After the War.
AS to the recent advance In freight
rates, it cuts little figure in gold min
ing except in the case of those mines
that ship their ores to distant smeit-
ers instead of treating them at the
mine. Relating the recent advance In
freight rates would not appreciably
affect gold production. Freight rates
are not likely to be lower after the
war than they are now.
Provisions will be lower after the
war than they are now. but probably
somewhat higher after the war than
they were Just previous to the war
Mining tools and mining machinery
after the war; will doubtless be pro-
duced at somewhat greater cost than
they we're Immediately preceding the
war, owing to higher wages of ma
chinists.
Powder, fuse and caps should NOT
be much higher after than before the
war as facilities for their manufact-
ure have been largely increased.
Labor will doubtless be somewhat
higher after than before the war.
On the whole, production of gold
will be somewhat more expensive ar
ter than just before the war.
Gold Shortage Before the War.
For several decades preceding the
present world war insufficient gold was
being produced to meet the legitimate
requirements Of the worlds expanding
business In other words the produc-
ton of gold was not expanding apace
with business--the result being that at
the commencement of the war. the
world already had gone far short on
gold coin for the ordinary uses of the
nations in peace times-and had the
world war not occurred, the time was
still fast approaching when the same
plan as now found necessary would
have had to be adopted by the nations
10 increase the production OF gold
The sudden coming of the world war
and consequent vast initiation OF pa
per issues based on gold has only
FASTENED the day,
The world is right now in dire need
than the world now possesses.
To gain the desired great objective
the puerile futility is at once evident
to the adult mind of such newspaper
makeshfts, as building roads to out
Of the-way supposed gold prospects
rebating to gold miners the recent adj
vance in freight rates; the govern
ment paying bonus for the produc-
ton of gold; the remission of excess
profit taxes on gold mines, etc.--no one
OF these suggested palliatives, nor all
of them combined could ever give us
start toward our desired objectiye.
The only way Of gaining our obiec-
tive Is to frankly acknowledge and
proclaim the actual value Of gold now
for the uses of mankind as compared
to its value for such uses 200 years
ago: and set such value on Ii by law
as will induce its production In suffi
cient amount for the worlds legitim
ate and necessary uses Our efforts
should now he to adjust the standard
to meet the all changed conditions as
wisely and successfully as England
adjusted 1t some 24O years ago under
world conditions as they then pre-
vailed.
No Precedent to Follow.
The only point now open to discus
sion is the exact price to which gold
should now be raised to accomplish
the purposes desired. The concensus
oc opinion of miners of the west seems
to he that $50 per ounce $40 fine
would be just and practicable stan
aard in view Of the war-imposed con-
ditions and conditions after the war:
whilr some. in view Of the extreme
exigencies Of the present situation, ad-
vocate $40 per ounce. Thirty dollars
DER ounce, 9-10 fire. of course. means
1888 Ia per ounce for pure gold.
The senator has doubtless noted
that all newspaper comments adverse
to raising the general parity of gold to
it's actual present value for the uses
of mankind are whiskered Jokes. in
teresting "reminiscences. and worn-ou'
theories. based upon dubious economic
sayings of ancient "has-beens" and
upon things. which long ago happened
or did not happen, under entirely diff
ferent conditions than are now para :
mount in the present financial crisis
In this instance we can not argue
from precedent--the financial condi-
lions which now menace the world
have no precedent
Most respectfully
CHESTER IT. KEENAN,.