Arizona republican., 1920-11-16
UNITED STATES
 GOLD RESERVES NOT SUFFICIENT
 II MEET NOTES
Alarming Decrease In Gold Production Discussed By Delegates To American Mining Congress
TRepubIlcan A. p. Leased WIrsl

tRePublican A. p. Leased Wlre1
 DENVER! Colo, Nov. 15.-Gois miners "are engaged in a hand-te< mouth existene" and the output of gold has decreased two-thirds in five years. George E. Collins, governor of the Colorado chapter, told the American Mining Congress at tonight's session of the twenty third annual convention which opened here today.
 MT. Collins said the gold output in | the last five years has fallen from l s22, ,000,0 to S7,000,0 1000 a year, and the bottom has not yet been reached"
 "The nations gold reserve" he said. great as it is, would not begin even to meet the victory notes and war saw ings stamps which mature early in 1923. He added that the relative strength Of British exchange. is, it seems clear" based largely on the steady stream of new gold produced from the empire"
 In 1lis annual address, President Bukelly Wells said the congress had been active in supporting the McFad den bill for relief of gold producers.
 He said the organization favored q
 more liberal application" of the war minerals relief act; development of the
 standardization of mining equipment;
 more favorable terms for use in the
 mining industry of the flotation pro-
 cess of ore separation and 6 solution of the transportation problem.
 Turning to the labor question, Mir.
 Wells said:
 Quite apart from consideration of
 party politics, the recent election
 served notably to affirm the belief of
 our people in our form of government.
 It demonstrated that the vote of or
 ganized labor cannot be delivered in
 support of candidates of socialistic or more radical beliefs
 "But in the very decisiveness of the victory, there is grave danger that we
 allow ourselves to relapse into a state of fancied security. The sinister forces that seek to undermine and overturn our government are at work cease lessly.
 Must Fight Radicals ! ''They are we'll organized and
 strongly financed. Only through sus } tained effort, unbending vigilance and l grim determination can we hope to de- 3 feat them.'
 ' Pleading for a recommendation by [ the American Mining Congress for re- establishment of the War Finance Cor r poration, Eugene Meyer. Jr, former t general manager Of that body. told the
 convention the most important com } modfties of the country are backed up at the ports. failing of export | He said during it's career the war 2 finance corporation had loaned about ? $A00. 100000, of which about s2s0. .00o,0o0
 has been repaid"
 The workings of the Kansas indus trial law were explained to the con ,vention tonight by Frank Dumont Smith of Hutchinson, Kan. repre-
 sentative at the convention of Gov ernor Henry J. Allen of that state. Greed and the lust for power. aided : and abbetted often times by downright ! stupidity on the part of capital have 2 stimulated the creation of similar ' energies and attitudes on the part of }. labor" Dr. Charles A. Eaton. editor of E Leslie's magazine. said in an address . here tonight.
 ITO the brute force of capital we : i now have opposed the brute force of e labor The greed, alleged or actual, of !, the old time capitalist is now more ' than matched by the greed of organ ', ized labor.
 We had, a generation ago, an in , cipient tyranny of wealth It was = broken by the iron fail of public o opinion We are threatened today by | a still more odious tyranny of labor.
 This tyranny also will be broken for Americans, if they have an American - soul. will not permit any tyrant, po- = litical or economic. to rule over them Q we can achieve mutual understand It tiSs COnA1OSilNSs ItopCSl anu NVOPCt 0e@SAA 2 between employer and employe if we Q pay the price. That price I conceive e 10 be;
 l., For Industrial Peace
 First, a get together attitude on
 both sides. Do not wait until trouble
 begins ot meet your men face to face
 and man to man.
 Second, let employers begin to do
 voluntarily for their employees what the
 labor union now forces them to do,
 provided always the demands are just. q Third, establish the proposition in S practice that the management is
 equally interested in having both em- n ployes and stockholders make money. 1f We cannot permanently have one class l. prosper at the expense of another or i all others.
 pr Fourth, put no faith in cure -aIls. a What is a success in one industry may is fail in another. le Fifth. recognize that the age of W tyranny, tricllery. terrorism, and n blackmailing is gone and an era of
 justice, honest law and honest dealing I'd is coming.
 'n sixth. start a fight to the finish 1- against the whole lunatic aggregation xt of lies and half truths which has set l. Europe crazy and threatens to infect Id America. Help people to see that mass on action. class Legislation and brute force r. can never take the place of honest 9- work by the individual. n seventh demand and help develop a. a national labol policy which shall put a. industrial relations under the same law or that governs any other form of con S tract: which shall make organized SC capital and organized labor alike
 equally responsible for all their actions
 Eighth, And perhaps greatest of all
 strive to lift industry as whole to the
 level of conscious national service which earns what 1t gets and gets what R it earns"
 Creation of a bipartisan board oi . ten men to pass upon and settle the ITS cases of taxes arising during or con ur sequent upon the war period of 1S1l a to 1920 is advocated in the report oi
 the national tax committee. The report e. which was made public tonight will be or read at tomorrow mornings session oi ,v the congress
 is War Tax Plans Incomplete he "The excess profits tax, as is vol ivy
 Continued on page 9