Evening capital news. (Boise, Idaho) 1901-1927, 1920-01-04
OUTLOOK PROMISING

MI. JOIilICSSC StuteIlleIlt is
OUTLOOK PROMISING
Mover i'm the history of the state
has the outlook for mining been so
promising as at present. A real boom
is developing, with the demand for sill
Yer properties in the lead. The price
of this metal has, within the past 80
days, ranged above the reconciliation
basis. International bimetalism is no
longer an academic theory but an eco
nomic condition that must be adopted.
Silver is the most widely distributed OF
all the precious metals. 1t is usually
associated with one of several of the
other precious or Industrial metals.
The increased price will encourage the
development of prospects and the re-
opening of old mines that have laid
dormant for the past 80 years.
The mining districts of southern
idaho such as Silver City, Mineral,
Seven Devils, Crooks Corral, Rapid
River, Bear Lake, Warren, Big Creek,
Profile, yellow Pine Basin, Deadwood,
Boise Basin, Silver Mountain, Atlanta,
Wood River. Sawtooth, Smoky, Lost
River Basin, Mackay, Clayton. Bay
Horse, Loon Creek, Martin, Damamia
Basin Volcano. Rocky Bar, Heath, Sea
Foam, Blackbird, Sboup. Gibbons
Vile, Gilmore and many others contain
and can produce practically all the
precious and Industrial metals and
minerals used in art and commerce.
Nearly every one of the districts men,
toned carries silver, either as tho pre-
dominating metal or as a by product
within the past few years great
strides have been made in netallurgy,
thereby greatly reducing the cost of
reduction. This and the advent OF
the motor truck have overcome to a
large extent treatment and transpor-
tation difficulties.
DEMAND BIG
while the demand for silver will
for the near future al least, lead that
of all other metals. the demand for the
other metals and minerals is sure to be
strong; not alone in this country. but
the world over. The world never need
ed gold and silver as badly as now.
The little that is in circulation brings
a premium when struggled into for
eign countries.
Tho price of silver will never, with
in the next generation at least, range
below $129 an ounce for any length of
time. This condition has been newt
able aver since the decentralization of
the white metal 25 years ago, though
1t has been accelerated to some extent
by the great world war.
ON GOLD BASIS
Leading financiers have been aware
for some time that the available gold
was insufficient to maintain a stable
monetary basis. Practically all the
leading nations of the world are on a
gold basis and they have issued paper
currency for which they promise to
pay gold, from rs to 500 times more
than they have gold to pay with.
4.
tecd by gold reserve it is worth just
what the worlds commerce chooses to
value It: and the more there is in cir
culation the cheaper II is. consequent
~ the higher are prices.
IN Germany today an ordinary suit
Of clothes costs from 500 to 600 marks,
hut there is no doubt but that an ounce
and half or two ounces of gold would
purchase the same suit.
MANY solutions have been proposed
to stabilize this fiuctuating system and
Increase our gold supply: but SO long
as our monetary system is to be based
on the precious metals there is only
ono remedy and that Is the remoneti-
sation of ilver--bimetalism. Every
practical mining man and financier
knows that 1t costs as much or more
to mine 16 ounces of gold than one
ounce Of silver, therefore the real in
trinsic value Is the same. Silver Is by
far the most convenient metal for sub
aidiary coin, and Is more In demand
for such the world over What the
world really needs. and what 1t will
have when we awake TO the necessity
of an international medium of ex-
oIauge. is a bimetaiic currency con-
Jertfble at all times into gold or sill
var. A currency based on promise to
,Say.s' rather than metal II the real
eal1Se OF the H. G. Il.
g WHAT JOURNAL SAYS
] I'm commenting on the remonetixa-
1lon o. the white metal the Engineer
~ ana Mining Journal has the fol-
5S3ine 10 say: The one partial rem
~ would appear to be to put all gold
lxSo circulation; but the governments
IasS not do this; otherwise they would
33176 the paper and some one else the
8If they know q good thing even
@21n they exppct their publics not to
~ how essential It II. The fact Is
~ fherS u not enough gold for this
J 511S 8. Better to keep up the fic-
32 * the validity ~ the ! Q Us in
q <'@< xh<n, our wealthy and prosper
~ - 80 ~ not enough gold tc
) ~ ~ s.. 61lurlnf zWedium Of exchange