Douglas Island news., 1921-06-17
GOLD MINING IS
 VERY HARD HIT
No Salvation for Che Industry With out a Bonus on Production,
 Is Clam Made

Underwood. UU. or l.N aINAt NN". paper correspondents of Che nation. makes Che claim that only through leraauon by Congress can Che gold mining industry be saved and cites Che closing down of Che bis Alaska G.n.ncau mine as one of che d,s- res.r- Incidents in Che history oi m.une
 The complete article reads as fol- ,ovs
 acrare of che Alaska Gasuueau plant n. Juneau. which thrcw sey- eraI hundred miners out ot employ ment mounts co much more chan serious setback to Alaska 10 Is tr. first or many b.g smashcs In Che gold mining Industry chat may come In he uc1r future. and for which th. lHatorIucss Of Congress and Che wilson administration s largely Co blame
 -It s morally certain chat unless Conue .ouai relief is given. not only uU .br gold mining Industry bc further nlralyEcd but 10 win hav. serious eTect on Che economic ver.r. of Che whole nation. Cor Che production figures clearly indicate th.. m gold consumption this coun-  Cry living Cor beyond iis present ur..s
 1915 tbc United states pro- fr... ff0in1no0, iu 1920 Che pro- tu..oa was FfI.5o0.0oo. a shrink r-. of moro chan DO per cent Tn 1915 herc was sold at Che hints for manufacturing purposes littlo rn-. thar te0.o00.00o In gold, and Tn ia1o. approximately f5oooo.ooo worth vas disposed ot
 "u othcr words. more gold was u.ei for manufacturing purposes uau was produced leaving none for coinage into money
 Thc ucts appear to bc chat be- ginning in Iaff there was hosira or gold and sIyoumIths Co Che United sater and It is believed that rt present more than 91 per cent ot Che worlds supply ol ths type of ar- u.ans arc resident In th.s country The ievc'ry to supply che world .s manufactured hera but iobbed at Port. 10 H sold n Che United States on n f20-an ounce basis and !. .obbeI or at Paris on a f30-ounce bass The foreign iobbcrs pro mak- rr a profit of BIO an ounce on American gold chat .n many eases e produced a. a Ioss
 .W.th Che outbreak oi Che Euro raar war; b.ra-speed rteeL chemi- .ais quicksilver and every commod- I.r mel n Che production of gold. Including nbor advueoi from 2o a. f0o per cert Gold remained at n. same standard price ot t20 an or The production ot gold In
 -s of mines became unprohtable. I production cost moro chan t could be sold tor at Che mints.
 Some mines cIosrd down entirely. ure others to prevent losses of or. reserves by flooding aud cayIng. ke.. . few men at work co run che pumps They have been doing this for mo-. har three years iu the hore and expectation of government relief
 The anticipated relief s con- ta.red n thc NcFadden bII which H now In Che hands of Secretary ot .ae Treasury Mellon for cons.dera- .ar. The bin provides chat an ex- .. ux of 50 ce1a a penny weight approximately BIO an o.rc. shau be charged on an gold u.f m che arts and industries. whether purchased at Che hints or elsewhere This win p'ace iewc.ry ora ss0.ourcc basis. Che same as In Europe and probably win result in making Che United states che worlds ieaers iobb'ur center
 The measure also provides chat the rogorumeut shall pay Co Che gold producer. royalty of 50 cents rcnryuaeht on on new gold mined Tho measure empowers the .rc.ary Of Che treasury Go termin- a.. Che validity oi Che proposed law at any uuc after three years. should normal production costs again pre- v.u
 Labor economists believe that labor and other costs win never again reach Che prewar level. but trat is something which Che future or'r e1n determine
 Che law s enacted. gold mining win be greatly stimulated. and ut- orally hundreds of properties Chat arc now lying idle win again ho opened up and thousands of men win bc employed Another result win boa slight advance In Che price Of jeVclry and art works of which gold is one ot Che component parts.