The Washington herald., 1921-12-24
The Philosophers Stone.

Il
i rope, concerning the possibility of manufac-
turing gold from baser metals. This takes one back
to the distant centuries when the alchemsts devoted
lifetmes to frutess search for the "philosopher's
stone" which was to make its discoverer rich be-
yong all count. An English scientist has proved the
possibility of Transforming elements and this has
been confrmd by professor at Princeton. The
Princeton man, however, warns against the thought
that in the present state of knowledge, this power
Of Transformation can be made of commercial use
On the other hand Prof. Irving Fisher speaking
in London recently, gave voice to the thought that
might be possible that Germany would be able to
pay her reparatons in manufactured synthetic gold
The French not to be outdone by their traditional
enemies, put in circulation. during the past week.
rumors that Frenchman had discovered the
method of making gold. To this a prominent
French scientist replied that the whole prospect of
making gold very fantastic at the present time
and that the stories of French inventions were
hoax. Mr.. Edison is said to have stated that sci
entsts are on the verge of discovering how to man.
utacture gold The latest is dispatch from Berlin
OF December Fl, saying that German synthetic gold
is reality and that somewhere, carefully guarded
is gram of gold, made by German scientist from
the baser metals The same dispatch saws that a
group OF German chemists has been working for
months under government supervision in an effort
to discover the secret of manufacturing gold 1t
stated that the fact of creating the gram of gold is
without question and that the problem now is to
develop the process that it will be possible to
apply the knowledge in large way.
The possibility of manufacturing gold cheaply
is fascinating subject for consideration If the
dream of centuries is about to be realized. what
will be the results of this triumph of science?
Surely, If the discovery is made by German sci
entsts, the problem of German reparations will be
solved and conferences to determine what to do to
Germany and how to do it, will become unneces-
sary. That result, however would be the least to
follow from the discovery of a process of making
gold cheapy. If gold can, indeed be turned out
IN unlimited quantities at small expense the place
OF this metal in the economies of the world will be
entirely altered. 1t will, OF course no longer be
suitable basis of currency because its relatively
high value and its stability will be taken away If
gold could be manufactured at WILL the currencies
OF the nations would he more stable with
gold standard than are now the currencies of
number OF European nations which are based on the
speed of the government printing press. Some
other basis OF currency would have to be devised
The question is, what would such new basis be?
Obviously, if the value of gold as a currency
and base for currency were removed by the
overabundance of it and by the possibility of in
creasing that abundance indefinitely, it would be
useless to think of turning some other metal as
substitute for gold. If scientists can manufacture
gold, through process of transforming the Gle
ments of which baser metals are composed. the
same trick can be turned for any other metal If
gold is counted out, will have to be had to
something quite different 1t was recently sue-
gested in the columns OF The Herald that the
establishment of wheat currency" for much OF
Europe might not be impossible. In the event of the
arrival of cheap synthetic gold, this possibility of
wheat currency would doubtless be given consid-
Grafton 1t rs not to be supposed with the world
progressing from tremendous discovery and in
vention to another, with great economic changes
under way and with new values being established
now and more likely to be established in the future
that the present systems OF handling business, the
present financial arrangements and the present cur
rences and theories of currency, will endure inde-
hitely 1t does not require any vast effort of the
imagination to conceive of changed states and reIa
tionships which would make gold no longer ideal
or possibly, suitable, as currency, regardless of
whether not synthetic gold cheaply manufac
tured, is discovered. Labor periodicals have sup
gested currency based on productive labor and Mr.
Ford has suggested rather indefinite energy cur
rency."
Since the development of electricity and its ap-
plication in industry and other human service is
likely to be the chief material advance of the fu
ture, it is not impossible that in the event gold is
discarded, kiowatt currency might be considered
America, of course, is not the only country in
which vast electrical schemes to the fore Eng
land is planning TO harness the tides in gigantic
electrical project One promising outlook in Italy
is the Italian activity in developing electric water
power, and the same may be said of America
Lenin has gigantic vision of electrifying Russia
hoping in this way to modernize in an exceedingly
rapid manner, that economically backward nation
If the world were much further advanced in the
use of electricity, kiowatt currency might not
seem fanciful
Just at present, however. it does not seem dis
Greet to relax the guards protecting the gold re.
serves of the United States
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