Omaha daily bee., 1919-06-22
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Let's Dig More Gold.

Omaha, June 20.-To the Editor
| of the Bee: The press of theFC ed
| states often repeats the statement
| that there is plenty of gold in this
| country, and it leaves YOU with the
! idea that gold does not cut much
| figure with the finance of the ma
! ton. The true answer to this point
| of view is found in asking the ques-
| ton, What gives England her SUI
/ premacy in the financial world ."
| Not her navy. her manufa cturers.
| nor her products, but the fact that
| she controls the gold product of the
! world, enabling this nation to estab-
| fish the rates of exchange, making
the English pound the basis thereof
Great Britain and her colonies
produced in 1915. 65 per cent of the
| worlds gold; the United States pro
duced % per cent of the worlds sup
ply of gold. The United States and
it's colonies showed decrease in the
production of gold of IS per cent,
thus showing that our gold produc-
ton is falling off. Immediately after
peace is declared heavy outflow of
gold will begin. We will be called
| upon to return all that has come in
here and more besides. The ques-
ton naturally suggests itself. where
is this gold to come from?" The
answer is, Our government, unlike
any other government in ths world.
now faces the issue of how is this
increased production to be brought
about. There are two methods:
First: Increase the standard value of
gold to saba per ounce, or, Second:
Pay bonus of $4,000 per ounce.
Few people realize what the pro
duction of gold has done for the
United States. It's wonderful pro
duction of gold in the west made
possible the building of the first
transcontinental railroad. Gold of
the west saved the credit of the ma
ton in 1865 and 1917. Gold has adj
vantage over all other minerals No
group of men can control its output
or fix its price.
After the war European nations
will not permit us to retain the large
stock of gold that has been sent here
They will compete in an endeavOr to
make their new securities so entic-
ing, both as to taxation and rates
of interest, that after the embargo
is released on gold, it will soon flow
into their channels, and we will be
called upon to furnish more gold to
help resuscitate and rebuild 1.-The
countries now at war.
The odds are in favor of the
country that has the gold to keep its
commerce alive during the coming
crisis. In order to protect our ma
tion,, we must adopt at once the
slogan Dig More Gold" Our Won
rich domain in the Black
Hills country and the territory west
of the Rocky mountains and Alaska
is only waiting developments; and
when developed it will increase that
production of gold to such an extent
that we can become the bankers of
the world in fact-not only in name
as we are today.
An increased production of gold in
America will go farther toward help |
ing any condition that may arise
than any other thing; it will enable !
us to extinguish our national in
debtedness, release the increased !
burdens of taxation, furnish employ |
ment to the unemployed. stimulate |
all forms of industry and bring con- |
tentment and prosperity to the peo
pie of the United sStates. Let our |
slogan be Dig More Gold"
ROY NJ. HARROP.