The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1920-01-15
A Great Forward
Movement in All
Operations
WAR TIME LAWS HINDER
Excess Profits Tax Should
Be Repealed and Basic In
dustry Encouraged
8 A criterion of the return o

~
~ NAL basis with a gradual re-
4 = sumption of all lines of busi-
ness activity in this country and the
nations across the sea, one has but to
turn attention to the tremendous
awakening of the metal mining indus
try.
Not only have the close students Of
the industry caught the vision of a
rebirth of mining operations, but staid
business concerns and investment
houses of the first rank have boldly
entered the field and where few
years ago encouragement and with
drawal of support met the prospector
and claim owner, today he is being
sought out and his holdings made the
subject of investigation and encour-
agement. 1t is strange, but Withal
a bright turn that has dawned upon
the worlds fundamental industry.
Mining Basic Industry.
Mining is the nations basic indus
try and it is but a return to a recog-
milton of this fact, coupled with mar
kets far and wide calling for metals
for reconstruction work. that has fair
ly started the business on an upward
course of gigantic proportions.
The Miner has been publishing some
interesting government statistics dur
ing the past few weeks. They tell
remarkable story of falling off IN
production of metals, both precious
and base, totaling in many instances
more than so per cent This is more
than the world can stand and the in
evitable has happened, The nation
stands short of metal. Many coun-
tries of the world have wonderful
mineral resources, but in the CRISIS
when world starving for metals
must be satisfied, all eyes turn to the
miners of the United States and they
must respond.
In this response the Occur d'Alenes
will play leading part. The dis
trict is credited with one-fourth OF
the lead mined in the nation. 1t
stands fifth among the silver produc-
ers and can better it's position in both
under proper encouragement.
Gold Exports Heavy.
A brief analysis of the position OF
the metals will give an insight into
conditions as they exist today Watr
reference to gold, the Old Natlona
Bank of Spokane is authority for th'
statement that exports @of gold dur'
ing October were Al million dollars
and for November 67 million collars
Imports during October were mlila'f
dollars and during November IL mil
lion dollars making the net loss
gold for the two months 80 miilloi
dollars. Our gold exports for the mrs
II months of the calendar year Wer
322 million dollars with imports OF
million dollars, making net loss 0
gold Of 25S million dollars This mean
the United States lost per cent OF 1t
stock of gold in II months.
Silver Breaks All Records.
Turn attention to silver and stag
gering facts confront the investlgato
In London silver was quoted on DE
cember Is at 1871 pence an ounce u
highest record of all time. This,
the normal rate Of exchange OF S4'e
to the pound, would be equivalent
s1.73 an ounce in New York, TT
lowest official quotation for silver
New York during December Wa
s12a5O and the highest official quotf
ton was s1.34. Today the quotatit
stands at s1.37. There does not see
to be much probability Of a decline
the market and the demand from TO
egn shores continues to far outr'
the production from all the mines
the world.
As shown by the official governme
report in another column the mines
this country produced but 55,2S5'l
ounces Of silver last year. nearly on
half Of the production of the world
1918 the mines Of the world produc
197,394,90 ounces of silver. The q
mand for consumption Is placed
about 350,000, 900 ounces, almost twi
as much as is produced These faC
then account for an unedualed sllV
quotation and call forth from the M
York Sun the statement that the woi
starves for silver and that Americ
mines must for several years II
starved markets and consequent nj
prices. Silver at 50 per ounce an il
is predicted by students Of world
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