Gilpin observer. (Central City, Colo.) 1897-1921, 1918-08-08
PRECIOUS METALS PRODUCTION
Giving Of Bonus Of $40 an Ounce by,
VIE Governme Seems to Meet
With Favor Among All the Mining
/ and Financial Papers.


and FinaneiAl Papers.
THE worlds geld reduction drop
ped more than 100000 in 1917
and estimates fer 1918 rrcduction
indicate that 1t will fail at least that
much more this year. making a drop
OF $4,000, 900 in comparison with
1916. says the Mining and Financial
Record. This is certainly an alarm
ing state of affairs in view Of the
fact that on account of the enor.
nous issues of bonds and paper
money by the warning nations. there
is need Of greatly increased rro-
duction OF 10th gold and silver.
| Gold and silver production is row
being given mere study by the var
ious nations than at any time In the
worlds history and is probably at
tracing more attention from states
men than almost any other subject
EXCEPT tie war. There is less than
$1,000 ,00O, 900 gold in the wcrld and
l. is realized that this Is not enough
for basis on which to issue hun.
dreds ct billions of-dollars' worth Of
bonds and paIer money.
England hiss appointed a commit
tee to devise ways and means of in
creasipg the gold and silver yroduc-
tion in the British empire, and con.
gress has arTointed a committee to
do tie same for the United States.
' ALL realize that if allowed to contin-
ue tie situation will seen react in
dangerous II amer on our future.
for which we are making such great
sacrifices today.
| The government has set the price
, of wheat, steel, iron, copper, zirc
ard many otler products at a fair
rrioe, ard assuredly the PRODUCERS
of these commo dities are net asked
or expected to sell at a less.
! It Is no mere than fair that the
gold miner be given an inere ased
rrice fcr is OUTPUT. The silver min
or, too, should re paid more than 81
pA ouaCC lOI lhtVdls SlnCc tHc
cost of it's production has increased
by leaIs ard bounds, with no relief
in sight. Gold and silver are as
much neeGed to win the war as any
!, of the OTHER ommodities; they form
the LASTS of all business transac-
TORS.
The gold and silver miner does not
ask fer any great consideration. All
lie asks is for the same CHARGE that
has teen given the other felow-a
chance to break even-and he cer-
tainly has rot had 1t the last two
years. He asks for an increase of
only so per cent, when tie can show
beyord any doubt that 1t costs him
not loes II an IS rer cent more to
60 business toGay Il an 1t did two
years ago.
The West has taken it's full share
Of Liberty bords, dore it's best by
.te Red Cross, has given all it could
to the Y. NJ. C. A. and everything
else to felp out. This money is
mostly sent east fer purchase of sup
Ilies of various sorts ard the govern
merit is sIenGing no vest sums in
the mining states. This has drain
ed the west of liquid money, but the
miner las not kicked. He is as pat
riotic as tie citizen Of any other
section ard proud to do his bit. He
has been carrying a heavy burden
fcr a number of years, but at last
1t is too heavy fer him and he must
lave relief, and the only way to
give it to him is TO pay bonus for
the gold ard silver he Produces, Use
same as has been done with the pro-
ducer of wheat, steel, etc.
| Eecarse this is somewhat of a new
idea, as arr lied to The miner, 1t may
seem radical, but 1t is what has
been done for tie farmer, wi o used
to be glad to get 81 bushel fer
His wheat, but is now given $3.50.
This Is nothing n ore than a bonus
of s1.30 a bushel, and is much great
ct tfan the miner is asking for.
A lonrs Of $40 an ource on geld
and 25 TO 80 cents an ounce on sill
ver will stimuli te production of
tE-sle metals, and yet the miner viii
not make an excessive profit. 1t will
make Tire total Trice per ounce much
less than many well known authori-
ties claim was tie cost of production
as far back as ten years ago.
A meeirg Of the geld producers
of the mining states with the rep.
resenteti,es of THE United States
treasury department. will be held at
Reno this N onth, ard important ac-
/ tinn i, axrnnfaxl IN ha Aal.a..