Montana labor news., 1936-01-09
MINERALS ADD TO
PERMANENT WEALTH
Two Thirds of Nations Wealth
Comes From Ore Production
Millions Depend on Mining In
dustries for Livelihood.

OF the entire wealth of the United
States (conservatively valued in 1882
at more than 163 billions OF dollars
between 90 and 20 per cent had its
origin in the mineral industries, an
nounced Dr.. John w. Finch, Director
OF the Bureau OF Mines, Department Of
the Interior, in a recent address.
Since the beginning Of the 10Th Cen
fury, II country has produced more
than | billion ounces Of gold, about II
billion ounces of silver, 40 billion pounds
Of zinc, 100 billion pounds Of copper,
and 1856 billion pounds Of lead. 1t ranks
first in the World in lead, zinc, and
copper output and in the consumption
of metals Of all kinds. Nonferrous
metals, however, represent scarcely one
fourth the value of our mineral output;
the balance is supplied by iron, coal,
oil, and non-metallic minerals. Our
share in the consumption Of the Worlds
Ipig iron was AZ per cent, OF coal 81
per cent, and Of petroleum Is per cent.
To keep step with an expanding indus
trial life-until the depression hit US
our mineral output increased in annual
value by II per cent in the last quarter
century, whereas farm production rose
only II per cent.
Moreover, the wealth won from
Nature by our miners does not vanish
into thin air, DR.. Finch pointed out. It
endures and thus affords substantial
additions to the Nations accommodating
store Of wealth. Except for the fuels,
which like food are promptly destroy
ed by use, our metals and industrial
minerals are transformed to an impor-
tant extent into facilities - buildings,
highways, bridges, railroads, power
transmission and communication lines,
water sewerage and drainage systems
that render useful services year after
year. Even the metals that 60 into re-
latively temporary uses, such as ma
chimes and tools or utensils, after they
have outlived their usefulness in fac
tories, farms, and homes, come back as
scrap to be refabricated and used over
again. This return of scrap iron, steel,
lead, and copper is one of the big prob
lens confronting primary producers,
but our revolving fund Of metals is a
national asset OF no mean Importance.
The accrued value of steel and the
chief nonferrous metals that have en-
tered as raw materials into permanent
or recurring use in the United States
since 1900 will aggregate in excess OF
90 billion dollars and it would be safe
to say that 50 billion dollars worth of
is still in use.
For 10 years before the depression,
the minerals that we produced were
worth, on the average, S and 1-3 billion
dollars a year. Metals and nonmetals,
the mineral products that contribute
most to building up our permanent
stock Of durable goods, represented
nearly one-half of this total with coal
petroleum products, the energizing
elements of our modern life, making
up the balance.
Value figures for our mineral produc-
ton, stable though they are, as usually
reported, fail utterly to reveal the real
Importance Of minerals or the promin-
parts they play in our industrial
Mine products are raw
materials and by the time they actually
inter into use their value is enhanced
many fold. For example, iron ore may