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By P. Molera

"In Catalonia, between the 10th century and 1878, some installations were developed which at first were called ""factories"" and later ""fargas"", since they manufactured iron and steel of low carbon content. Because of its excellent quality, the fame of this metal spread from Catalonia to many countries. Fargas were started in Corsica, the Low Countries, Germany, Oriental India, Madagascar, Finland and along the rivers Orinoco and Mississippi among others. The extractive process used in these fargas has passed into history as the ""Catalan Farga Process"", ""Catalan Process"", or just ""Farga Catalana"". With this technology, raw material was obtained for the fabrication of tools, nails, weapons, grilles, etc. to supply the national and export markets. Aside from meteorites and native iron, found as metallic nodules in basalts in Greenland and Palestine, the ancient civilizations, which had no means to reach the fusion temperature of iron (1535°C), obtained iron by a direct process. Similar processes were used until quite recently (1930s) by certain tribes in Central Africa; holes in the ground were filled with iron ore and coal, and combustion encouraged by blowing air by mouth or with bellows made of animal skins. Thus without melting the iron it is possible to reduce the mineral and obtain a porous and impure metallic mass, which is purified on forging by mechanical squeezing. With a process very likely similar, the famous column at Dehli weighing 6.4 m.t. was built about 300 B.C."

Jan 1, 1999

By J. W. Matousek

"Computer modeling of smelting processes requires internally consistent equations for calculating the compositions of mattes and slags. That is, the sum of the calculated assays must total 100%. One set of equations that satisfies this requirement for copper produced under oxidizing conditions (pSO2>one atmosphere pressure) is given by the following:%[Fe] = 62.0 – 0.775%[Cu]%[S] = 28.0 – 0.00125%[Cu]2%[O] = 10.0 – 0.225%[Cu] + 0.00125 %[Cu]2Mattes containing nickel in appreciable quantities do not have the defined “white metal” end point of approximately 80 percent copper and 20 percent sulphur that is found in the copper system during the converting process. The above equations, however, are readily extended to nickel and nickel/copper mattes for any desired end product composition."

Jan 1, 1996

By J. U. MacEwan

THE basis on which the modern metallurgical industry is operated is the endeavour to attain maximum return in purchasing power for the least expenditure of energy. This has always been the general objective of the industry, as of all industries. In recent years, however, it has received a new emphasis. Today, as never before, increased attention is being directed to the detailed study of plant operations and the application of scientific knowledge and of business principles in order to achieve the maximum efficiency. This new emphasis is the result in large part of the new problems and conditions with which the industry has been confronted, chief among which are the following: (l) Development of new ore-bodies and the treatment of complex ores. (2) Necessity of achieving a greater degree of purity in some of the metals in order to meet the newly discovered demands for some of the industrial metals. (3) Discovery of new markets for many of the metals, either in pure form or in the form of alloys. ( 4) Change in values, absolute or relative, of some of the important metals. (5) Increasing scale of investment in expensive plant and equipment, which makes imperative most efficient utilization if total unit costs are to be kept to a minimum. (6) Increasing scale of operations in some important branches of the industry, which also makes essential maximum efficiency in organization, administration, and operation. The success with which the metallurgical industry has met the problems created by these changing conditions has been due primarily to the following factors: (1) Results of research and experimental work carried on by universities, government laboratories, and many private corporations in the industry itself. (2) Closet study of every detail of plant operation, both from the technological and from the economic point of view, with the object of increasing plant efficiency. (3) Interchange of information and experience amongst the operating companies. It is only by the concerted efforts of numerous investigators and experimenters that the underlying fundamentals of plant operations can be learned. The exchange of results permits their easy assembly and correlation with maximum benefit to the whole industry. Unnecessary duplication of research and experimental work is avoided and the industry as a whole is able to reap the fruits of this work with the maximum of-speed and efficiency. (4) Advances made in recent years in so-called 'scientific management' in industry as a whole and the application of the principles learned to the metallurgical industry. A review of the modern trends in extractive non-ferrous metallurgical processes illustrates the afore-mentioned new conditions and problems, and gives some idea of the methods by which they have been and are being surmounted.

Jan 1, 1937

By H. R. Stoger

"In 1994 world trade grew by 9%, the fastest annual increase since 1976. Dry cargo shipping rates are at an all time high.Panamax size bulk carriers are receiving19 000 US dollars per day for trans Atlantic round trip voyages. This is good news for the ship owners but not such good news for the industrial users of ocean shipping.The main emphasis of this paper will be on bulk carriers, the charter market and what industrial companies can do to reduce their costs of ocean transportation which is critical to Canadian exporters. Let us look at the charter market in general.Bulk carriers come in four main sizes:1.The Capesize bulk carriers of 110 000 to160 000 tons that are primarily used to transport iron ore and coal;2.the Panamax bulk carriers of about 70 000tons dwt. This is the largest size (with a beam of 105 ft) that can transit the Panama Canal.3.the Handymax bulk carriers of 40/45 000tons dwt; and4.the Handysize bulk carriers of 20/35 000tons dwt.The handysize vessels are usually craned or geared and carry a variety of bulk cargoes including steel. Ship sizes have increased over the years and the mining industry now uses primarily capesize or Panamax bulk carriers.International chartering is conducted through an international network of shipbrokers. There is usually one broker representing the ship owner and another broker who represents the charterer. The major chartering centers are London and New York but a great deal of chartering activity is conducted in regional markets such as Hongkong, Oslo, Montreal and Hamburg.The Biffex Index or Baltic Freight Index is a good measure of dry bulk freight rates. The Biffex is composed of ten major routes. In May1995, the Biffex was at 2310 points. A year earlier it was at 1354, an increase of about 56%."

Jan 1, 1996

By C. M. Acuna, M. Sherrington

In high temperature processes thermodynamic equilibrium is assumed and therefore chemical potential of elements, among the condensed phases, have to be the same. In such situation impurities distribute accordingly and their fractional distributions are affected by the masses of the coexisting phases. It has been claimed Teniente Converters perform quite well for smelting high impurity concentrates, especially in respect to volatilization and/or slagging. Production of high matte grade near white metal composition, requiring moderate oxygen enrichment in the process air, results in a huge mass of gas and therefore a high fraction of impurities report to it. Similarly, by recycling different sources of slag, flue dust or other materials, the mass of the final slag is increased and so do the masses of impurities reporting to the slag. Nevertheless, above a certain level the recycling of smelter byproducts is no longer feasible and the cycle has to be halted, unless higher impurity mattes are accepted. Although the process might be continued during converting and refining, lengthy and expensive measures have to be taken if suitable anode copper for electrolytic refining is to be achieved. In the present study samples of high arsenic matte grade and slag were obtained on a pilot scale. The matte samples, on the order 75%Cu, were equilibrated with slag at varying ratios in magnesia crucibles under CO/C02 atmospheres at 1523 K. After 24 hours equilibrium matte and slag were rapidly solidified and analyzed by copper, sulfur, iron and arsenic. Furthermore, industrial samples of matte and slag, in the order 75%Cu at 1523 K, were obtained via a special quenching sampling device to determine the association of copper and suspension of matte and copper in slag. Based on the results, the distribution coefficient of arsenic between slag and matte was evaluated along with copper species in slag and the fractional distribution of arsenic, in the coexisting phases, was determined as a function of the ratio mass of slag to mass of matte.

Jan 1, 2007

By Tobias Riedel, Peter Ay, University of Applied Sciences, Bianka Bade, Nicole Pausch, Bernhard Gemende, Florian Logsch, Matthias Leiker, Satyanarayana Narra, Claudia Glaser

This study focusses on the production of micro-structured agglomerates with high porosity from iron (III)-hydroxide-containing materials as adsorbent. A fractal-like structure of the agglomerates was created through a two-stage agglomeration process. Developing porous structures was necessary to increase the adsorption capacity. Various materials were used for the agglomeration experiments: i) filter cake (dry matter content 23 to 27 wt.-%); ii) FerroSorp®DGµ, a product which is already being used commercially for various applications in water cleaning. These materials in the pristine state have different characteristics such as dry matter content and particle size distribution. The desired optimised agglomerates can be achieved with the help of additives or binders, respectively. Additionally, the agglomeration process parameters play a vital role. In order to produce agglomerates with high porosity, the process was carried out in two steps. Firstly, FerroSorp®DGµ (d90 < 30 µm) was agglomerated jointly with the aforementioned filter cake in an Eirich intensive mixer (particle size range 125 µm < d90 < 500 µm). The second agglomeration step post drying was carried out in a pelletisation disc or in an Eirich intensive mixer with the addition of polymeric binders (up to particle sizes ranging from 2 to 4 mm). Agglomerates were characterised both in short and long term loading tests using phosphate as model ion. Contact times were less than 10 min, similar to practical application in percolation columns, or more than 7 days, respectively. The results show that the agglomerates produced in the two-stage pelletisation process have more advantageous properties like better accessibility of the active sites obtained by specificly influencing the particle size distribution during the two-stage pelletisation process.

Jan 1, 2016

By Gordon L. Draeseke

"Before getting into more specific aspects of my talk today I should put in one disclaimer - one week in Mainland China and one day with Premier Kosygin does not make me an expert on Sino-Soviet affairs nor on Canadian-Chinese relations. Perhaps though there is a message in the fact that one meeting took place in relative openness in China and the other was at least partly in a bullet-proof limousine in Canada. I thought it might be interesting and appropriate to explain something of the forest industry to you who are engaged in the mining industry. Our industry, like yours, is based on a natural resource and the basic activity that we engage in is the extraction and conversion of that resource into saleable materials. However, the fundamental difference between our industries is that our resource is on top of the ground - easily visible and easily measurable, whereas yours is under the ground - difficult to find and, having been found, expensive to measure. A second difference is that ours is renewable while yours is extractive, and you must keep finding more to keep up reserves."

Jan 1, 1971

By Robert Drummond

Away back in the eighties of the last century, when Sir Charles, then Doctor, Tupper, was not only a prominent but a dominant figure in the political life of Nova Scotia, his opponents brought the railing accusation against him that he was the foremost of egotists because of his frequent use of the personal pronoun. I heard Tupper speak and had no sympathy with the railers, because I could not well see how the pronoun could be dispensed with without laying himself open to a charge of affectation. I shall make reference in what follows to incidents in which I have taken part, and shall be at no pains to dispense with the pronoun, even though thereby I lay my-self open to the charge of being a pupil of the deceased states-man. EVENTS LEADING UP TO THE ORGANIZATION OF THE PROVINCIAL WORKMEN&apos;S ASSOCIATION The Springhill Mining Company began development work at Springhill in the early seventies of last century. So vigorously was the work prosecuted that in 18 7 4 two slopes, the east and the west, were in active operation, with a considerable. output, the east slope on occasional days producing 800 tons. The President of the Company, the late Senator McFarlane, was a Nova Scotian, the other directors were mainly merchants from St. John, N.B. From the first the enterprise was an .astonishing success, due in the greatest part to its geographical position, and in large part to the untiring vigilance of the directors, a majority of whom visited the collieries at short intervals, thereby keeping the manager, much of the time, on tenter hooks.

Jan 1, 1924

By M. Azzaz

In this paper, we report on new mechanical tests, at high temperatures, performed with a supposed better aluminium nitride (A1N) material, containing fewer oxygen. Our purpose was twofold: (i) check whether creep resistance is modified and hopefully enhanced and (ii) determine the elementary mechanisms controlling plastic deformation through transmission electron microscopy (TEM) observations of deformed samples up 10% strain in compression at elevated temperatures (1823-1923 K) under constant stress in the range 150¬250 MPa. Stationary rates are lower by an order magnitude than those previously measured in MN with higher oxygen content. All dislocations imaged by TEM look undissociated, which clearly relates the formerly observed wide dissociation to oxygen in excess.

Jan 1, 2004

By D. A. MacFadyen, J. J. Brummer, C. C. Pegg

The early identification of a kimberlite dyke and the occurrence of pyrope garnet grains along a section of the Munro Esker north of Kirkland Lake encouraged the search for kimberlites. Subsequent exploration using data from aeromagnetic surveys completed for the Kirkland Lake Initiatives Program (KLIP) resulted in the discovery of five kimberlite diatremes in the area north of Kirkland Lake and another one to the south. These are only a portion of the cluster of pipes found so far that probably occur in the area. Recovery of the diamonds present in four of the pipes yielded 16 stones, the largest being 0.17 carats. Unfortunately evaluation of the pipes is a problem due to the cover of glacial drift, up to 92 m in thickness, which makes it difficult to obtain an adequate bulk sample. A study of their ages, mostly from drill hole samples, suggest that the kimberlite diatremes and other alkaline ultramafic rocks were emplaced along a northwesterly zone of rift structures. These alkaline ultramafic rocks cut across all earlier rock types and have ages ranging from 121 Ma to 173 Ma. The zone of deformation, along which these rocks occur, has been named the Lake Timiskaming Structural Zone (LTSZ), a modification of Lake Timiskaming Rift Valley (LTRV). Ultramafic intrusions which were emplaced along the LTSZ can be traced from the James Bay Lowlands in the northwest to past Belleville on the north shore of Lake Ontario in the southeast, a distance of about 1070 km. As the emplacement of these rock types become known more are certain to be found by drilling selected aeromagnetic anomalies. The project has demonstrated that aeromagnetic surveys can be used successfully to identify covered kimberlite targets.

Jan 1, 1992

By I. M. R. Duarte, J. A. Rodrigues-Carvalho, F. R. S. Rosa, A. B. Pinho

"This paper aims to contribute to the knowledge of the mechanical properties of the shales and greywackes which constitute the flysch-type deposits of the Baixo Alentejo Flysch Group, in the south of Portugal. These formations are flysch-type deposits constituted by sequences of usually thick greywacke beds alternating with thin shale beds, which include sometimes intercalations of conglomerate beds. All the sedimentation of these flysch formations was controlled by tectonics. At the same time, should have occurred along with the first Hercynian deformation phase, a low-grade metamorphic event (chlorite zone), that affected these flysch deposits. This study highlights the influence of anisotropy and heterogeneity of these flysch rocks on their physical and mechanical characteristics. The anisotropy verified in some physical properties and on mechanical properties, due to the foliation makes difficult the sample preparation for the laboratory tests. Besides, it induces a scattering of the properties values measured, as for example, the strength and the deformability. The heterogeneity is related to the main features of these geological formations, which are constituted mostly by thinly stratified greywackes and shale beds, which sometimes may affect the results of the laboratory tests making them less representative. The study is made by using both shales and greywackes that constitute these flysch-type deposits in order to evaluate their geotechnical properties, mainly of the shales. Samples of these two rock materials, are tested accordingly a laboratory testing programme, which includes which included mineralogical analysis (X-ray diffraction), physical tests (bulk density, porosity, and void index) and mechanical tests (uniaxial compression, and deformability tests). INTRODUCTIONOne of the factors that most influence the geomechanical behavior of rocks, as well as rock masses is the anisotropy. The word anisotropy comes from two Greek words ""anisos"" (meaning uneven) and ""tropos"" (meaning direction). A body or material is considered to be anisotropic, where the same property has different values depending in which direction it is measured, therefore, an anisotropic material is one whose magnitude of the properties depends on the direction in which these are studied or measured. Otherwise, it is about an isotropic material. However, the fully isotropic materials are quite rare in nature."

Jan 1, 2015

By Robert B. Parsons

"No Canadian or his family is likely to escape the effects of proposals for pension reform tabled on October 9, 1986 by Finance Minster Michael Wilson. New tax rules are proposed for Registered Retirement Savings Plans (RRSPs), company pensions, and other forms of retirement plans. Draft legislation is expected to be released in the first half of 1987.IntroductionOver two years ago on February, 15, 1984, Mark Lalonde, then Finance Minister, tabled two White Papers. The first, Action Plan for Pension Reform, proposed improvements to the public pension system and increases in the minimum pension benefits standards to be mandated by the federal government. Since then changes have been made to the Old Age Security, Guaranteed Income Supplement and Canada Pension Plan programs. Also, benefits provided under pension plans subject to the federal Pension Benefits Standards Act have been improved significantly.The companion paper, Building Better Pensions f or Canadians, proposed to standardize and, in many cases, improve retirement savings through private plans by revising the tax rule s. The tax proposals in the Notice of Ways and Means released by Finance Minister Wilson on October 9. 1986 implement, with modifications, the tax treatment of retirement savings originally proposed in the May 1985 budget in response to that second paper."

Jan 1, 1987

By J. A. Bossert

"In 1957, the Department of Mines and Technical Surveys (now Energy, Mines and Resources Canada) issued their first certificate for a fire-resistant conveyor belt. The testing procedure used was a combination of those used in the U.S.A. and the U.K. Subsequently, certification was granted to fire resistant electric cables (1974), fire-resistant mine duct material (1976) and fire-resistant hydraulic fluids (1978).Until recently, the testing procedures were copied from either the U.S. or the U.K. However, since the founding of the new Canadian Standards Association (CSA) Steering Committee for Electrical/Mechanical Mine Safety in 1981, these requirements have come under the close scrutiny of new CSA technical committees who will attempt to adopt or change the existing procedures to meet Canadian needs. This paper outlines the existing test requirements and attempts to predict how they will appear after ""Canadianization"" by the CSA committees.IntroductionFires in underground mines have always been considered more serious than in other locations because of the confined space and limited atmosphere. A fire can make escape difficult or impossible if it is blocking all of the routes to the surface. Also, the products of combustion from an underground fire can asphyxiate anyone not having self-contained breathing apparatus.In an underground coal mine, the consequences of a fire can be even more serious because of the presence of methane and coal dust in the atmosphere (which can explode) and because the coal itself is combustible.For these reasons, the inspection authorities having jurisdiction over underground mine s in Canada are quite concerned about the flammability of any materials that are used in quantity in the underground environmentAs early as 1957, the Canadian Explosive Atmospheres Laboratory (CEAL) was asked to certify conveyor belting as fire-resistant. This is because many miles of this material are used in underground mines in Canada and, as it generally travels through the mine, it is a perfect vehicle for spreading a fire."

Jan 1, 1982

By M. Thérien, M. Rémillard

"Data from two industrial plants are treated by mass balance package BILMAT. The first application concerned a base metals/precious metals (PM) producer and the second, implementation of a hydrocyclone for the recovery of iron chips in the granite industry. Also LOTUS 123 software can easily be adapted for laboratory test mass balances using an IBM-PC computer. INTRODUCTIONThe present paper deals with two different BILMAT program applications. The first application concerns a copper-zinc-gol d-sil Yer producer based in North-western Quebec and the second, concerns the iriplementation of a hydrocyclone for the recovery of iron chips in Quebec granite company.Afterwards, we deal with some LOTUS 123 software applications for laboratory test mass balances using an IBM-PC.1. Base metal and P.M. producerNoranda Inc, Mattagami division, which operates mines in North Western Quebec, produces copper and zinc concentrates from a sulphide ore. Small amounts of gold (0,34 g/t) and silver (20 g/tl are present. At the time of the study, only 30% of the silver content was recovered in the copper concentrate. The main objective of this study is, to evaluate the metallurgical behaviour of silver in the flotation circuits, to increase its recovery in the copper concentrate and therefore to improve its final economic value. It is then worthwhile to identify the silver bearing minerals and to determine the critical flotation stages where they are lost. The methodology proposed is based on the coupling of a mineralogical study and a detailed mass balance ca1cu1ation in the flotation circuit performed using the BILMAT mass balance package (1, 2, 3).The results are discussed with respect to the distribution of silver in the circuit. The recoveries obtained at the various separation stages for the minerals present in the ore are also discussed."

Jan 1, 1987

By C. Cekerevac

The paper addresses some geotechnical issues related to the construction of the Deriner dam and HEPP. Design considerations and rock stabilization measures are presented for the excavations which took place in a highly fractured and weathered rock mass prevailing on site. Particularly, the shallow excavations for the overflow spillways tunnels are discussed. These present huge openings that are 12 m wide and 18 m high in portal areas, with an overburden of approximately 20 m, for which numerical finite element analysis and structural discontinuity analysis have been performed to ensure safe excavation process and future operation.

May 1, 2009

By R. A. Nemchek

Over the years, concentrator plant design has evolved from a large number of small grinding mills to a small number of large mills. In many cases, all of the tonnage runs through a single mill (typically a large SAG mill), so that the plant’s performance hinges on the productivity of this one machine. Industry specifications attempt to address the critical nature of today’s grinding mills in a manner that is often overly complex, neglects economics, and is not clearly focused on the end user’s goals. This paper surveys current industry practices, and proposes an improved approach to standards writing recognizing that product design, procurement, manufacturing, and quality are all inter-related in contributing to a project’s success. The lessons learned here can be extended to specifications for all types of machinery.

Jan 1, 2012

By A. J. Macdonald

Gold deposits hosted by banded iron formation (BIF) in Ontario exhibit a marked association with localized zones of deformed and hydrothermally altered BI:F . Secondary sulphides and carbonates are conspicuous. Proposed carbonate-facies IF , or exhali tes, such as green carbonate in the Larder Lake camp and ankerite veins in the Porcupine Camp are structurally controlled, hydrothermally deposited zones of carbonate replacement and fissure filling. Gold precipitation from hyd r othermal fluids in strain-generated conduits may be due to (a) plating upon secondary sulphides, (b) pH change due to carbonatization of BIF or (c) destabilization of gold in solution due to sulphidation of BIF .

Jan 1, 1984

By Darren Medd

Kumtor Gold Company (KGC) currently operates the 500,000 tonnes per day Kumtor open pit gold mine located in the Issyk-Kul region of the Kyrgyz Republic at an elevation of more than 4,000 m. To supplement the open-pit mill feed with high grade underground ore from outside the current pit limits, KGC started pre-production design and development of the underground mine for the SB ore zone in late 2006. The initial phase of pre-production development consists of exploration and haulage declines which, upon completion, will provide ventilation and access to the underground mine. Design and construction of these declines presented many challenges to the project team considering the mines unique location at high altitude, the limited experience with Western underground mining techniques in the Kyrgyz Republic, and the impact of the nearby Davydov glacier and resultant ground conditions. Completion of the exploration and haulage declines was undertaken jointly by KGC and mine contractor, J.S. Redpath Limited (Redpath). The initial phase of development including several ground falls provided detailed information on geotechnical ground types and conditions that were useful in determining the overall mine design and methodology for production. This paper covers the various aspects of the design and construction process of developing the declines under the glacier, minimizing the likelihood of further ground falls, and the journey of both KGC and Redpath which led to the successful breakthrough between the declines on 01 July 2012.

Aug 1, 2013

By A. M. Girodo

"Dorbyl Heavy Engineering has been manufacturing winders since 1949 mostly for the South African mining industry.Table 1 shows that the vast majority of winders have been double drum winders. At the greater depths with larger ropes being employed, it became apparent that multi-rope winders would be needed. The high stress variation in Koepe winder ropes at great depths especially beyond 2000 m, ruled out this possibility. Thus the original concept was borne for the Blair multi-rope winder where the stress level variations in the rope would be as per the well known, tried and tested double drum winder. The Blair multi-rope was also devised to increase payload by using multiple ropes.With the increasing costs of transporting men and material coupled with fact that orebodies are getting deeper, various feasibility studies have been carried out by South African mining houses. For this reason Dorbyl Heavy Engineering has done conceptual design work of both double drum and Blair multi-rope winders with diameters up to 8.5 m dia (still well within our manufacturing capabilities). These feasibility studies have looked at depths approaching 4000 m*.This paper covers the typical duties leading to the choice of single drum, double drum, Koepe and Blair multi-rope hoists on South African gold mines. A brief synopsis of Dorbyl hoists in use in the South African mining industry, with some indications of future trends, will be discussed.With current installed depths of wind approaching 2500 m, the Blair multi-rope hoist has been used extensively for the heavier payloads.Some of the main considerations pertinent to the design of the Blair multi-rope hoist are illustrated together with the implications of using this type of hoist to winding depths of3000 m to 4000 m in the foreseeable future."

Jan 1, 1995

By Theodore H. Boggs

The battle of the gold standard is not limited to one country alone, or even to a single group of countries. It is being waged merrily in many important commercial and industrial quarters. Though it is not always a practical issue calling for immediate attention, it is none the less, quite widely, engaging the thought of bankers and other students of finance. The controversy arises, in the last analysis, because of the desire of men to secure a stable currency. There are two ways of restoring a reasonably stable currency system: (1) the re-establishment of the gold standard, or (2) the deliberate and artificial management of a paper currency. Both systems are well known. The gold standard was in use prior to the war in the principal commercial countries. A currency of inconvertible paper has been at times employed in the past in various countries; for example in Britain from 1797 to 1821, and in the United States from 1862 to 1879. The gold standard, as all are aware, implies the selection of gold as the standard of value. The unit of value is a fixed weight of gold and, so long as the standard remains unimpaired, all other means of payment are maintained at a parity with standard gold coins. And gold coins alone constitute the standard money, inasmuch as their value as bullion equals their value as coins. Under the gold standard this would not be true of any other form of money, although all other varieties of money, including bank notes, government notes and silver coins would be freely convertible into gold money. Strictly speaking, the gold standard also implies that the gold money in turn shall itself be freely convertible, through melting, into gold bullion and freely exportable.

Jan 1, 1925