The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-01-06
INDUCTION OF COLO
NATIONAL CONCERN
- Decline h Indicated By Repor.
sgSS Experts Made 10 Secretary
Lane

Sss IN aefafnstcu Jan. 5.--Tiia' tho de-
IeitNa m tho production Of gold in the
#GN3ted States Is Of serious national
$3earern IL indicated by a report of a
II AciAa COMMITTEES Of gold experts
4nAde 70 Secretary OF the kfntericr
ssxano Saturday
several months ago the secretary s
SAteAntfon WAS called to the rapidly in =
E$3aEfnS cost OF gold production and
ahe cens~quen. decline of output and,
WALKING the importance If the gold
I 1nlninE industry. he appointed spe-
AU tAl corr ntttee headed by Henpen
Jennines, the weli-knowa gold mining
MAnxin~er and consulting engineer nf
4 The Bureau - Mines. TO so thoroughly
into the situation ard make the
4 nAcessaIT rccomu1c ndat'oos
THE report. OF Interest not only 70
the -nid-Ts' thin , industry. lat Also u
4 financial and business men a having
\ Az irarottsiis Wearing on t'risrctal arT,f
credits n-nd The consequent prosperity
~ the country. declares that gold
mining has been seriousi- fntured by
the war. and has been dtscriruin3tod
asasrst fur the protection and benefit
3 OF the treasury in thai fhc ryUTTt Of
gold ard erer the internal free trade
In the metal Was interrupted"
The committee saws thai prices on
MI commodities have advanced III
sernns Of the government paper
money except that OF the ounce %
cold. which has sxet, price or
4.n,5s. Thus In reality" SAYS the
corr nrit.ee. ";he purchasing power Of
sold has decreased i'm PROPORTION 70
the inerease of other corifuod'ties
which IN one way or arother are fac
tors In the obtaining 81 new gola."
N THE present decrease in gold PRO
40csior is serious. says the commit
SA@- ''ag the maintenance of sun
Eiant gold reserve IS essential 10 the
aeeuri.y of our national finances and
i credits The United States is the
A1cst favored nation IN regard to gold
\ t~Pervca, holding over three tiilion
Z ADslars. or nearly one-thlrd nj that OF
The world hut it has contracted debts
m gold ia sis many times that cx-
1eNs,s before the war"
The committee gives as the prir-
SSpAi reason for the decline in gold
nfaductton the Increase in operating
nnEtE Ii the most favored quartz
ntines FROM - cent 20 produce q dol
Mrs. ~srth Of gold In 1917 20 - cents
N 1913
Various means n" stimulating +hc
aNvocuc.aon OF gold nj this time ~oro
Y &ondtd~red by the committee ptv.
o1ent Of a bonus or newly rairol co'f
advocated nv MAN.. is frcwuef uuon
~ the comm: i;ee. The elm ra'ion
Ut the excess profits tax on go'h u, Tn
INK. and the ENCOURAGEMENT ~ largo
0ufputs thereby. Is advocated and the
0fafennent Ia made that iarwh- tttvi-
bends paid to shareholders will mean
greater revenue for general taxation
fAan could ne obtained through any
A1rees profits tax.
The privilege Of free exnort and OF
9nlA u manufacturers would st.t-7u-
NE production and aid gold mining.
eays the committee and might also
~ = safeguard against irratson Tho
government might increase produc-
tion by assisting In improving meth
eds OF mining and rnefallurrv of gold
0fes. Possible methods ~ maintain
M the visible gold reserve would be
N the eurtailment OF the use Of gold
10r manufactures and ma king a cn'l
On the public TO turn IN boarded gold
IN France voluntary contributions ny
the reopie since the war began have
amounted 10 more than two billion
francs. Further relief might be Oh
taisted. che committee saws by amend
ing the War Miperals blll ~ iuclndc
Eold and voting an apprnpria ''nn 80
be used In directing the search for
sa1ssx deposits
The committee declares that the ~.
ture OF gold n1intrs in the world is
pruhlenaticai. tina. the gold OUTPUT
~ the world seems to have pr ssed lis
saith and to be on The decline
Virtually all econcnia.s agree that
fhe koid standard should he main
fHined." SAYS The committee. Even
those who have profound ideas As 20
.tiat 4Adyi.a billy u a different stan
Gard concur that II would ~ dan
KkpouH 20 attnp1nt arI fras tic, ohaneas Z