The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-04-24

low adjusting the gold standard from
I20.67 to 1888 Ia per fine ounce (the
after sum being the actual value of
gold today, because it will cost that
70 produce the amount needed within
he requisite time) would be to imme-
llately increase those government
over 60 per cent in effective
value; and as the governments at
present hold in their treasures the
bulk of the gold, the principal gain
rather than to scattered
individual citizens.
All these governments are anxious
to sustain their national credit and
honor by maintaining their ability to
pay their gold obligations in gold, IL
gold is called for; or rather by virtue
OF ample gold reserves to maintain
their other currency on par with
gold, so that gold will not generally
be called for.
While all governments poignantly
age in gold and the absolute necessity
for vastly increased gold production,
they also recognize the fact that the
British empire and the United States
make about nine tenths Of the worlds
annual total gold production; and
therefore the other great nations
which produce scracely any, naturally
and very properly are waiting fol-
England and the United States to say
the word, when they would gladly
follow their lead.
circumstances prevailing at the mo.
ment and with the United States al
the greatest gold holding nation, she
Is the most influentially powerful ma
ton on this globe and the other ma
tons are looking to her, in this darl
world crisis, to show the way ant
blaze the trail. If she were alone
boldly and resolutely, to readjust thu
gold standard, all other nations, glat
to escape from the present desperate
financial situation, would gladly fol
low suit.
The financier's side of our gol,
problem Is plain and simple, but tn
gold miner is confronted by tw,
mighty stubborn facts:
(a) The ponderously magnlticen
pile Of yellow metal needed;
(b) The necessarily long time
must take-at least one generation o
men to produce this vast supply o
gold, even under the most favorabl
conditions possible and with the gol
standard adjusted to 1898 1-3 pc
ounce of fine gold
The same law that saves the gol
mining industry will preserve a gol
standard.
The general concensus of opinio
of gold miners the world over is tina
the new price of gold should be nc
less than 1888 1-3 per ounce of fin
gold, and that if it were adjusted
that price, they could produce an AIDE
quate amount of gold within requisit
, time to maintain gold standard a
sound basis Of paper issues and a
necessary commercial uses. For g
that price of gold very much lowe
grade large gold mines than hereto
fore utilizable could then be worke
at good profit; also many millions {
tons of old gold ore dumps could the
be milled, which were not befol
available owing to their low gold cor
I tent and low price of gold; and man
hundreds of old abandoned gol
mines could also then be reopene
:, and operated at a good profit. TT
: prospectors who have now ceased
1 prospect for gold would thereby
e encouraged to again enter the field
discover new gold mines and ne
: try of gold mining would flourish ;
i never before. The people would the
be fully treasured that the gold stan
dard would be preserved; paper Il
sues and gold would soon be on p;
again: gold would be seldom Gale
for and the great nations wou
maintain their splendid credit al
pay their honest debts.
To make up our universally admi
ted great deficiency in gold is clear
t a concrete matter Of more gold mil
i ing-it is not a void which can
t filed by theorizing.
Y All makeshift expedients for ten
e porarily increasing the production
gold, which were advocated by Il
: Reno gold conference and the social
g ed Spokane International gold col
ference, were war measures, ar
could not be adopted in peace tim,
: as they would constitute class legi
lation and be unconstitutions
Therefore they are now wiped off Il
slate and have gone for naught
The only plan now up for conside
: alton is the one consistently advoca
ed during the last two years by Il
: gold miners themselves, viz: To az
just the gold standard upward to
figure which would enable and Undue
, the production Of sufficient gold wit
: which to maintain gold standal
and effectively function as such fl
transacting the modern worlds bus
: ness-that being the only way lie