The Alaska daily empire., 1920-04-22
GOV. BOYLE NOT
I AGAINST BONUS
TO GOLD MINERS
B. D. Stewart Says Governor OF
Nevada Was Never Opposed to
Gold Tax and Bonus

Gov. Emmett Boyle Of Nevada was
the champion of the excise tax on
gold at the International Mining Con.
gress at Seattle" said Territorial
INSPECTOR of Mines B. d. Stewart
today. Press dispatches and Seattle
papers wrongly reported Gov.sBoyle
as saying. that the law to. provide
a bounty on gold bullioa was not
a good law and only mlke-shft'''
Frank Vanderlp, the eminent bank
el-. spoke at the Congress on Friday
|, April 8, Mr.. Vanderlip gave the
history Of the mining business and
showed how gold was used as q,
reserve to allow the issue of cur
, rency. When he. was through with
the speech" continued Mr., Stewart
"Gev. Boyle, who was sitting on the
platform asked him if he was no.
getting away from the subject OF the
gold bonus and asked him to give
his objection to it. Mr.. VANDERBILT
stated that ever since 1912 the price
on an ounce Of gold had been SCI
at $2O.67 and that there was more
or less sanctity about the metal and
the price that would be disturbed
if the excise law went into effect
raising the value Of the metal"
Back the McFadden Bill
Mr.. Stewart says, that Gov. Boyle
then made speech in which he
said that something over sSo,000,o00
worth of gold bullion was used in
the manufacture Of arts last year.
Fifty eight million dollars worth
Of gold was mined in America thus
making the amount of gold used
solely for manufacture and arts
something over twenty one millions
more than was mined. The average
cost of the mining of the gold was
something like $40 an ounce at the
present time. After the gold is man
ufactured into jewelry and art, |
is sold at an average price of Sl45
an ounce at retail and the manufac
turing jewelers., like good sports,
according to Mr.. Boyle, were per
fectly willing to pay the additional
ten dollars an ounce as provided ir
the McFadden BILL S.
Gov. Boyle said that the only rea
son the great mines on the Rand in
South Africa were able to operate
at all now was owing to the fact
that the British government was
allowing the operators there to sell
their gold in the open market.
After hearing the speech of Gov
Boyle, the Mining Congress, without
one dissenting voice, endorsed the
McFadden Bill, and resolutions tc
that effect were prepared and passed
Admit ignorance
According to Mr.. Stewart, bankers
who were present at the Congress
admitted that they were ignorant
Of the provisions of the McFadden
bill: They thought it would cause
initiation of gold coin and cause the
prices of commodities to rise even
higher than they are at the presen,
time. 1t was pointed out to them
that the MeFadden bill provides for
an excise tax on gold sold to the
manufacturer and would not affec,
gold coin whatever Inasmuch as
more gold is being used in the arts
than is being mined, the miners
would be reimbursed from the money
received from this source.
Mr.. Stewart who attended the In
ternational Mining Congress in his
capacity as Mining Inspector for the
Territory, was day late in getting
down, and was not there during the
organization. He took side trir
to Olympia and conferred with the
State Labor Commissioner and thu
State Mine Inspector on business mat
tiers, and returned to his headuuar
| tiers here on the Princess Mary
Monday night. AN
l