Mohave County miner and our mineral wealth., 1921-03-04
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the production of gold in the world, many men of ability in the financial world are looking with alarm to the time when not enough of the yellow metal is produced to support the vast issues of paper money that is being issued, and no probability of any oth- CT metal being accepted in lieu of gold. Last year the total production of gold in the world was estimated at 16,40O,0OO ounces, against 22,75O,- 900 ounces in 1915 and approximately the same in 1910. Something must be done, is the consensus of opinion among the real men of the financial world but just how this undertaking is. to be furthered no one has so far come forward with the solution. The present largely supported method is through the McFadden bonus bill, which would give to the gold produc- CT bonus of $10 per ounce on gold that went into the arts and sciences. It is contended that this bonus would stimulate the production of gold to such an extent that new gold would be produced from mines that are now unable to operate. Ten dollars is not such large amount but it means the difference between profit and loss. It would mean the starting up of such mines as the Goldroad, in this county, which was shut down few years ago because of the high costs of mining and the profits tax. This mine has more than 100000 tons of ore running better than $10 in it's stopes and about 100000 tons of the same grade of ore could be developed with small costs were conditions ripe for further development. Added to this value would be the bonus, amounting to $5 per ton, giving the total value of $15 per ton to the ore. This mine alone would bring into the channels of trade close to $2,OO0,O00 yearly. And so it goes with a large number of other mines. And who, think you are you benefiting by allowing our gold pro- duction to die? Only Europe, which is now solely on paper basis ,and the manufacturing jewellers. The former have been taking profits based on gold and using their depreciated currency to do it with, while the United States, with here vast hoard of gold is sitting supinely by and allowing them to get by with it. On the other hand the jewellers have been getting their gold at the same old figure and then put ting it on the market at greatly en- hanced figures, holding that gold is worth far more than it's coinage value. The people are paying these fellows the advanced price for gold in their jewels and the poor gold producer is the goat.
 The same thing is true of exchange between the countries. England, which today has but about cents be- hind each dollar of paper money, is financing the world, while the United States, with her vast resources of metal money and stable paper issues is not playing the part she should in the monetary affairs of the world. A few weeks ago some of the South American countries asked for loan from American bankers. The loan was turned down by the South Ameri- cans because the terms were too se- were. Later the matter was taken up with England and the loan made, be- cause with her depreciated paper money England was able to turn a deal that on it's face looked good. At the same time England required a large deposit of gold from our Latin friends to guarantee the loan. The same is true of French or Italian loans. These countries must send over to the bank of England large amounts of gold and silver before a loan can be formulated, the basic money being pledge.
 The United States is in a position to back every country off the financial map and before we can enter the if nancial lists we must recognize and take advantage of our position. We are the greatest producer of silver in the world and our gold production could be encouraged to such an ex- tent that we could be free from the enthralments of other countries and stand in such place in the finances of the whole world that we could dom- mate every phase. Our financiers are looking too much to the control of the local markets to give a thought to the immense business that lies in the countries far removed. The relation of gold to silver is much closer than these fellows imply, because if we had high priced silver we could get world trade that is going to England, France and Germany. England cor rals the business of the Far East be- cause of the low silver value, and our business men must know that to get this trade silver must be kept on a high plane. The United States is the