Mohave County miner and our mineral wealth., 1921-10-07
GOLD BONUS IS YET POSSIBLE
 F~TREASURFR MELLON WILL ACT

has taken the most important part in the presentation of the views of the gold producers of the country to the secretary of the treasury, has just for mulated a letter, which is going out to the thousands of mining men and producing corporations throughout the west relative to the resolution signed by twenty-two senators, calling the at tention of the secretary of the treas ury to the necessity of furthering the production of gold. The resolution is as follows:
 Resolution on the gold situation to be
 submitted to the Honorable Andrew
 w. Mellon, Secretary of the Treas
 ury, by members of the United
 States Senate:
 WHEREAS, Gold is the standard of value and the basis of all credit, and its production is Itally important to the financial and commercial life of the nation and of the world; and .,
 WHEREAS, The production of gold in the United States has, declined from $101, ,035, ,000 in 1915 to $49, ,000 in 1920, decline in excess of 50 per cent, due to the fact that the price of gold is fixed by the government, while the cost of producing gold has greatly in creased; and
 WHEREAS, The consumption of gold in manufactures and the arts in creased from $37,S20,0O0 in 1915 to $75,49O,00O in 1919, an increase of 100 per cent due to the excessive de- mand for luxuries and the fact that the government has been supplying the industrial consumers of gold with the metal at the pre-war price; and
 WHEREAS, The normal process of defiation will not be sufficiently rapid to prevent the further decline in the production of gold and the wastage of developed gold ore resources due to the flooding of the mines; and
 WHEREAS, The gold standard can not be permanently maintained with out gold production, and the nation is confronted today by the prospect of a heavy drain upon the monetary gold reserve which will necessitate still further curtailment of credit; and WHEREAS, Representative Lous T McFadden, Chairman of the Banking and Currency Committee, has intro duced bill, H. R. 5025, in the Sixty seventh congress which provides fol the maintenance of the normal gold production of the United States by an equitable adjustment between the producer and the industrial consumer of gold; and
 WHEREAS, H. R. 5025, containing 8 provision to levy an excise, in accord ance with the constitution has been introduced in the House of Represen- tatives and referred, to the Ways and Means Committee thereof; and
 WHEREAS, H. R.. 5O25 involving both the policy and administration of the Treasury Department has been re- ferred by Chairman Fordney to the Secretary of the Treasury for an opin- ion; now, therefore, be it
 RESOLVED, That the undersigned members of the United States Sen ate, urge upon the Secretary of the Treasury the significance of his reply to Chairman Fordney in determining the status of the gold mining indus try, which is vitally important to the maintenance of the gold standard and the financial security of the nation; and be it further
 RESOLVED, That if upon the an alysis of the Secretary of the Treas ury reasons cannot be definitely as . signed for opposing the provisions of H. R. 5025, the secretary is requested to endorse the same in order to eX- pedite the action of the House and permit the bill to be considered by the Senate; and be it further
 RESOLVED, That if the Secretary of the Treasury has specific reasons for opposing the provisions of H. R. 5025, he is hereby urgently requested to formulate proposal for enactment by Congress: First, to protect the gold mining industry from destruction, which is a serious matter irrespective of the fact that its operation is nee essary as the basis of our monetary system, and second, in anticipation of the heavy foreign drain upon our gold reserve, to provide for augmenting said reserve from sources of domestic production and thereby lessen the neec for the further and extensive curtail. ment of credit which otherwise woulC result.
 Tasker l.. Oddie, Nevada; H. O Bursum, New Mexico; Chas. L. Nc Nary, Oregon; Lawrence c. Phipps Colorado; Ralph H. Cameron, Arizona Samuel D. Nicholson, Colorado; Thom as Sterling, South Dakota; Samuel M Shortridge, California; F. R. Gooding Idaho; Hiram w. Johnson, California H. l.. Myers, Montana; Wm. E. Borah Idaho; T. J. Walsh, Montana; An drieus A. Jones, New Mexico; Henr! F. Ashurst, Arizona; Key Pittman Nevada; John B. Kendrick, Wyoming I