Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1944-09-16

followed BY the federal and state
governments, "a solution of most
OF the problems of small miners,
announcement and protection for
the prospector and a stimulus for
postwar employment"
The conference urged freezing of
metal stockpiles at the conclusion
Of the European war, national en-
phasis on the Importance of mining,
liberalization of investment restric-
tons TO conform to needs of min
eral development, removal of the
ban against gold operations as soon
as labor and materials are available,
abandonment of a recent public
land policy which assertedly pre-
cludes further prospecting, larger
appropriations for state geological
work, gold and silver monetary sys-
TENS, more equitable freight rates,
stimulation of a mine-to-market
roads program, continuation of
present tariffs on metals and de-
velopment of metal processing in
the states of metal production.
Governor Ford is considering a
proposal that he call conference,
suggested for Butte this fall, of rep
resentatives of the Securities & Elk
change Commission, mine owners
and underwriters of securities to
work for common approach to the
miners problems. Trauerman said
such a conference would probably
bring 800 persons from all parts of
the United States.
In its report the 12-state confer
ence said, in part.
at is imperative to the contin-
uation of the mining and smelling
industry and postwar employment
of the maximum number of en-
ployees possible, that ~ all govern
ment owned stockpileS of strategic
or critical metals and minerals and
all government owned or controlled
non-ferrous scrap metal shall be
frozen at the termination of Euro
pean hostilities, and that ~ all re-
verse lend lease and preclusive pur-
chases of metals and minerals
should be added to such frozen
stockpiles, as failure to do so means
the Stagnation of the mining indus
try of the United States
These reserves of critical or stra-
tegic metals and minerals should be
kept inviolate for future war emer-
gencies and must not be released
except by Act of Congress"
The conference deplored that gold
mining Is considered a nonessential
industry and recommended that the
WPB order shutting down the gold
mines during the war be rescinded
as quickly as labor and material are
available to resume operations 1t
was recommended that the order be
rescinded to a limited extent right
now, permitting individual mines to
produce enough gold to return their
maintenance costs and that the Re
construction Finance Corporation
make immediate loans for the pur-
pose of rehabilitating closed down
gold mines and to provide funds for
current upkeep and the protection
of the owners equity. 1t was fur
Their recommended that the mines
of the United States be allowed TO
sell their gold on the highest world
market.
The delegates agreed that both
federal and state taxes should be
levied so as to recreate private ven
ture capital and with the realiza
ton that the mining industry Is one
that is constantly nquidating its
assets and that. he who invests Ii
mines should receive return o.
his capital plus reasonable return
of interest thereon. 1t was further
recommended that present premium
metal schedules should be in effec
until those producers of strategic
minerals for war purposes receive
at least the return of their invest
ment. Premium metal prices wer'
established by the government as ;
production incentive during tn,
war. They are not, and should no
be construed to be revenue of tn,
mining company in the computation
of state taxes.
In order to prevent recurrence
Of the "Melrose" incident In Mon
tana and similar incidents in othel
states, the following policy wa
adopted.
ssTvhis conference strongly disar