Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-01-21

bringing $20.67 an ounce JUST
as II is today. But look how sill
YER changed; in 1900 it brought
So cents an ounce, In 1929 It
brought &1.35-and now II Is
bringing the smallest price ever
known In history -only % cents.
AS Andrew MeEon remarks.
''you can always sell gold". So
you can Andrew. II yon can ON
" get it. So II you have a few
quarts OF gold quartz cropping
out In your back yard you
should not lose a day in starting
to mine it. It's the best crop
there is. Everybody else Is doing
it all over the world, because the
demand for gold Is on the In
crease. New gold supplies are be-
ing eagerly sought in all coun-
tries. There is what is called q
gold hunger" Gold production
is being rapidly boosted in South
Africa, Canada, Australia and
the United States-the great
gold producing countries.
The worlds gold output for
1882 viii break all time records
and will be worth about $475.-
100000.
Besides new gold productions,
there is q large amount of old
gold coming from it's hiding plac-
es. Dealers are advertising for
old discarded iewelry and even
old dental plates. The gold from
George Washington's false teeth
may yet come to any humble
working girl in the form Of a
gold plated wedding ring.
India has freed a large q
mount Of gold recently-even
the temples and sacred places
being raLaacked to furnish the
yellow metaa. The reason for this
is curious; when the English
pound sterling is down, as it Is
now, India can make a fine pro-
fit by marketing her horded gold
and paying off debts while the
paying is good. The natives OF
India do not trust banks but
hoard their gOld--largely in the
form Of old 1ewelry. When they
have to realize, they can turn
this gold into cash.
England made a blunder by
forcing India onto the gold
standard. India has some 200
billions OF dollars worth Of
gold-but the money metal
which the people OF India insist
on using is silver. Some 80 ma
tons have been forced off the
gold standard in recent months,
and this also has upset the equi-
librium OF the financial world.
Strange to say, while gold is
always worth its price -Ameri-
can paper money brings more in
than American gold
does. The same thing is ofte7
true in China and Japan and
many European countries. The
reason is that paper money can
be handled at much less cost
Nobody really likes to handle
he actual gold. If gold sinks to
he bottom of the ocean It is
yften not worth the cost OF sal
rage. but II a bank draft sinks,
nothing is lost. as duplicates are
always issued.
So when we hear Of vast guam
tiles Of gold being moved from
he United States to Europe. as
vhen France was cornering the
,old supply and trying to upset
'ur financial balance, or when
England and those other coun-
ries are making payments Of J
old on their war debts to us,
his does not necessarily mean {
be actual metal is being batted j
bout like a tennis bail.
It may be merely moved a.
ross a corridor in the Bank Of
highland from one vault to an
Their. The legal title to the gold
lay be transferred and nothing L
Ise. Some gold is always moving
ack and forth between Europe
nd America. but this is only
cry small part Of the whole :
old store. III