The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1919-09-13

oCA NC0s
when the reserves are exhausted
the annual production must of neces-
sity consist almost entirely of the
gold that is recovered as a by.prod-
uct by those mining other metals,
such as silver and copper. Very lit
tie. If any, prospecting for gold is
now being done. for the reason that
its purchasing power, as the measure
and standard of values, has been re-
duced one-half and capital refuses
to be employed in the development
Of gold properties. The reasons for
this condition of affairs emphasize
the necessity for a greater supply of
the metal.
The government, having gone
mad in its debauchery of squander-
ing money and paying its bills with
certificates of indebtedness, which
it promises eventually to redeem in
gold. has while protecting practic-
ally every other essential industry.
turned afdeaf ear to the gold pro-
ducer. to whom it must look in the
end to meet, first the interest. and
finally the principal of its thirty
billions of war obligations.
"A premium cannot be placed
upon gold without seriously and per-
haps vitally affecting the financial
and commercial structures of the
world. Hundreds of billions of rail-
road, industrial. state, county. mu-
nicipal and national bonds and other
evidences Of debt. payable. both
principal and interest, in gold of
the weight and standard of value ex-
isting when the obligations were is
sued, are held throughout the world
and cannot be paid if the debtors are
compelled to obtain the gold at a
considerable premium. And if the
gold industry is permitted to be
practically extinguished through a
short sighted and stupid policy of
inaction on the part of the govern
ment, financial chaos is inevitable
sooner or later.
GENERAL BANKRUPTCY
thine will come when every debt
or will be called upon to pay in gold.
and being unable to obtain it gener-
al bankruptcy will result.
1.-The value of the dollar, as meas
ured in gold, cannot he lessened
without bringing upon us disasters
such as would follow the inability OF
the debtors, be they individuals, cor
porations. municipalities. states or
nations, to obtain gold with which to
meet their obligations.
For the few reasons | have given
and there are many more-lt should
be apparent to any one who will give
them only cursory examination that
no domestic question now demand
ing a sane and safe solution is COM
parable in Importance to the main
tenance. and, if possible, the increase.
of the annual pre-war production OF
gold.
"For upon its solution and the en-
actment of suitable laws to foster
and stimulate the gold industry must
depend the permanent settlement of
the labor question, the high cost OF
living, the remedy of present and
prevention of future imitation. our
industrial, commercial and financial
growth. the maintenance of our ma
tional integrity. the security of our
form of government and the attain
ment of our national aspirations.
1.-The problem is being studied ny
some serious men who have no polit-
ical purposes to serve nor ambitions
to crafty. They need and must have
the cooperation and support OF the
GOLD producers if the problem - 10
he solved and the enactment OF neces-
sarv constructive legislation which
will nut the industry on a basis in