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By C. A. Stetefeldt

Metallurgical processes cannot be conducted successfully With out the aid of analytical chemistry. The great perfection of Iead smelting in the West, for instance, has only been accomplished by the analysis of ores, fluxes, slags and all products of the furnace. Ores are mixed and fluxed to obtain a slag of desired composition. Account is even taken of the composition of the ashes obtained from the coke. The " muscular " smelter has left the field forever! This state of affairs has been induced by sharp competition, i.e., by a com plete separation of the industries of mining and reducing ores, not by the liberality and wisdom of directors and stockholders to pro vide laboratories and engage chemists, or by their love for scientific investigation. It would be considered absurd, at present, to run a lead-smelter, a blast-furnace for pig-iron, or a Bessemer plant without the assist ance of a well-equipped laboratory and a chemist; but it is con sidered quite sufficient to provide amalgamation- or lixiviation works merely with a crude assay-office, and an assayer who is paid less than a laborer in the mill. In my opinion, this will change in the near future. By the ex clusion of Mexican lead-ores, and their growiring scarcity in the West, smelters have been forced to raise their charges on so-called dry silver-ores, and cannot handle the latter now in such unlimited quantities as formerly. The inevitable result must be that the sur plus of these dry silver-ores, especially those of low grade, will be reduced by processes cheaper than smelbing; and here the introduc tion of lixiviation has an excellent field, provided the muscular lixiviator has an able chemist for an assistant. It is to be regretted that so little analytical work has been done in lixiviation. We know almost nothing of the composition of roasted ores before and after lixiviation; of the constitution of the first wash water and of lixiviation-solutions after prolonged use; of the chemistry of sodium and calcium sulphides; of the col-hposition

Jan 1, 1892

By E. H. Fahmy, L. C. Uren

During recent years, oil producers have observed with interest the practical success which has attended the application of water as a medium for displacement of oil from its reservoir sands in the Bradford field of northern Pennsylvania and southern New York. Here, according to various authorities, additional recoveries of frorn 2,000 to 12,000 bhl. of oil per acre have heen secured by this method, after ordinary flowing and pumping. rnethods of production had practically reached the lower limit of economic operation. Notwithstanding the success which has attended the practical use of the flooding process in the Bradford field, oil producers in other regions are skeptical of its value when applied under physical conditions differing markedly from those which characterizc the Bradford field. Its usc would probably he construed as illegal in most of the oil-producing states. This general relnctance on the part of oil producers in other regions to accept the flooding process is due in large part to lack of infor-n~ation regarding the factors that influence its operation and efficiency. With the purpose of clarifying to some extent the issues involved, and of determining when the flooding proccess may or may not beeffee-tivcly ernployed, the writers have conducted a serics of laboratory exper-imentments under carefully controlled conditions, designed to indicate, the influence of various physical, chemical arid lithologic factors. These experments have not been conducted under conditions identical with those which exist at depths far below the earth's surface, so that direct quantitative comparisons with field results are not justified, hut it is believed that the experimental results at least warrant qualitative inter-pretations that may he applied to field conditions. The methods employed in the conduct of these experiments are briefly explained, and the results, together with the conclusions based thereon, arc presented. FactoRs Influencing Displacement of Oil froM SaNdS by WAteR- flooding Before presenting the experimental data, it, will he desirable to con-sider the manner in which the residual oil is retained within the oil sand

Jan 1, 1928

By Colin G. ink

OUTSTANDI'NG in progress among the less familiar 'metals during 1936 is the electrolytic production of 99.9 per cent manganese meta1 readily and many quantity. Strictly speaking, manganese should not' be classed as 'a rare metal, since there is 800 times as much manganese in the earth's crust as there is zinc or lead. But manganese' as a metal is rare, just as titanium metal is rare though titanium is five times as abundant in the earth's crust as manganese.

Jan 1, 1937

By H. M. Howe

THIS paper presents an experimental verification of some of the predictions made by one of us' concerning 'the influence of certain conditions of casting upon the size and position of the pipe', and the position of the segregate, in steel ingots. The predictions which we have been able to verify are the following A. That the pipe is shortened and the segregate raised 1. By slow casting; 2. By casting with the large end up instead of down; 3. By retarding the cooling of the top, e.g., by means of a sinking-head. B. That the pipe is shortened by slow cooling. C. That the pipe and segregate lie in the last freezing-part. Our procedure was to cast ingots of wax (commercially pure stearic acid) containing a little bright green copper oleate (usually 1.5 per cent.) under varying conditions; to saw each ingot open along a longitudinal plane passing through its axis ; and to examine the longitudinal section thus laid bare. In order to make the segregate or enriched part more distinct in color from the impoverished part, a very little red cerasine was added. An experiment which will be described later showed that the cerasine itself does not segregate markedly, if at all. Hence we may assume that the strong contrasts between the green and red shown in so many of our ingots are due, not to segregation of cerasine, but to that of the green oleate, in the wax which in itself is uniformly reddened with cerasine.

Jul 1, 1907

THE developments in construction and operation of the basic open-hearth furnace that have taken place in recent years have placed new emphasis on the vital influence played by regulation and control of the combustion system in both furnace production and furnace life. The several factors influencing flame development, such as regulation of fuel supply, air supply, air preheat, furnace draft, and furnace reversal, must be controlled closely if successful furnace performance is to be accomplished. Rugged instrumentation of distinctive design is required to sup- ply dependable information concerning operating conditions, which is requisite to proper regulation of combustion. This chapter attempts to give a practical discussion of the various features of open-hearth practice and instrumentation related to the efficient heating of the furnace, control of temperature, and protection of the furnace structure from accidental overheating. The appended references will be helpful to readers wanting a more detailed treatment of individual topics. OPEN-HEARTH FUELS The most important open-hearth fuels are listed in Table 4-1 together with their compositions and other data useful for combustion calculations. A detailed discussion of open-hearth fuels is not attempted here, but certain factors peculiar to their application to this type of process are briefly indicated on the following pages. Very often an open-hearth shop is forced by economic factors to use a fuel to which its furnaces are not very well adapted, because the general fuel-allocation scheme for the works as a whole seems to demand it. Often a variable marginal supply of coke-oven gas or tar must be consumed by the open hearth, together with another fuel such as producer gas, natural gas, or oil, to fill out total requirements. Most furnaces employ more than one kind of fuel during their useful life; however, the partial redesign

Jan 1, 1964

By Frederick G. Coqueron, Joseph E. Pogue

The purpose of this study is to present the results of a detailed survey of the financial and operating aspects of 30 oil companies comprising a major sample of the American petroleum industry. This review supplements a previous paper entitled "Capital Flow and Capital Formation in the Petroleum Industry, 1934-1941,"a and deals not only with a longer period but also gives new and more revealing analyses of the capital movements and characteristics. The data are gathered from published financial statements of the companies, especially the annual reports to stockholders and Form 10-K to the Securities and Exchange Commission, supplemented by confidential information. The 30 oil companies covered by this study are listed on the leading stock exchanges and for the purpose of analysis are grouped as follows: 9 companiesb engaged principally in crude production, 4 companiesc with production averaging in excess of refinery requirements, and 17 companiesd with refinery throughput in excess of crude production. These samples are sufficiently broad and representative to constitute norms against which individual company performances may be profitably compared. The 30 companies in 1942 produced 54 per cent of the Nation's total output of crude oil and refined 79 per cent of the country's crude run to stills. The financial data apply predominantly to the domestic oil business, although 15 of the companies have investments and operate facilities in foreign countries. The net value of these foreign holdings amounted to 724 million dollars, or 12 per cent, of the combined net assets of the 30 oil companies at December 31, 1942.

Jan 1, 1944

By Edward Keller

About a dozen years ago the art of bessemerizing copper- * matte, brought to these shores from France, was first established at the smelter, in Butte, Montana, of the Parrot Silver and Copper Company, which had bought the process from Mr. Manhks, the inventor. Through the efforts of Mr. J. E. Gaylord, general manager, and Mr. A. J. Schumacher, snperintendent,, assisted by an able staff, the new method rapidly underwent, at the Parrot establishment, an evolution towards higher perfedion, and within a few years its success and its advantages were so marked that all the great works in the west followed in the footsteps of this pioneer. The converter-process has now practically superseded the reverberatory-process in this country. The latter will undoubtedly, in a not very distant future, be relegated to metallurgical history. The writer has availed himself of what was perhaps the last chance to make comparisons of the two methods, working practically on the same material on an extensive scale, the reverberatory process being that of the Baltimore Copper Smelting and Rolling Company,* while the converter-process is that of the Anaconda Copper Company—both using the matte from the latter company's works in Anaconda, Montana. For the greater portion of the material considered in this paper, the writer is indebted to the two companies. In order to understand the difference of behavior of the several elements, and the difference of the copper produced in the two processes, it is best to study and follow those elements

Jan 1, 1899

By Lawrence Wright

THE occurrence of gold, gold-silver, silver-lead-zinc ores in the post-Cambrian sediments in the Black Hills of South Dakota, and their genetic relationship to the Tertiary intrusives, is well known and accepted, but the occurrence of gold in the pre-Cambrian rocks at the Homestake mine, which underlie this Tertiary gold mineralization, has given rise to differ-ences of opinion as to the period of major gold introduction into the older rocks. Fig. 1 illustrates. the distribution of mineralization along the axis of the Tertiary uplift in both pre-Cambrian and post-Cambrian rocks. The following possibilities have been presented: 1. The Homestake gold deposit was formed in pre-Cambrian time and the deposits in the overlying Cambrian sediments formed during Ter-tiary time. 2. The Homestake lode existed at the beginning of Cambrian time, but was enriched by the passage of Tertiary auriferous solutions. 3. The Homestake lode was represented by pre-Cambrian quartz-chlorite sulfide mineralization, very low in gold content and the gold superimposed on the older nearly barren mineralization during the Ter-tiary metallogenic epoch. 4. The sulfides and sulfarsenides as well as gold were deposited in both pre-Cambrian and post-Cambrian rocks during the Tertiary period. Those favoring the first proposition feel that the question is pretty well settled, while the proponents of the second theory are more flexible in their view, feeling that the amount of gold introduced in either period is still an open question. The third and fourth theories, with some modifi-cations, are supported by the proponents of the Tertiary theory, who feel that the evidence strongly favors that period. The following pages are intended to present the evidence and to give the reaction of various observers with my own comments and conclu-sions; also, the accumulated facts of observation gathered over a period of close association with the area under discussion, beginning in 1919.

Jan 1, 1936

By Ira Joralemon

THE Ajo copper district is in the heart of the Arizona desert, near the western boundary of Pima county. Gila Bend, the nearest railroad point, is 43 miles north of the camp, and the little Mexican border town of Sonoita is 30 miles south. Between Gila Bend and Sonoita, Ajo is the only settlement save for one or two small cattle ranches and the uncertain villages of nomadic Papago families. The Little Ajo mountains rise a few hundred feet above wide desert valleys, beyond which are lava mesas. The camp itself lies at an elevation of about 1,900 ft. above sea level, in a little basin on the east side of the range, separated from the open desert by low hills. In the center of the basin the brilliantly iron and copper stained rocks of Copper mountain rise 150 ft. above -the village. Many varieties of cactus and low desert bushes cover the hills, while in the large valleys there are clusters of mesquite paloverde, and ironwood trees which furnish limited amounts of fairly good fuel. A scanty supply of water is obtained from wells in the desert and from prospect pits in the camp. The nearest abundant source of water is the Gila river, 50 miles north of Ajo. (See Fig. 1.) HISTORY OF THE AJO DISTRICT The Ajo, next to Santa Rita, New Mexico, is claimed to have been the first copper district in the Southwest worked by Americans. In the '60's or even earlier high-grade native copper and cuprite Ore was mined from shallow surface workings and hauled by bull team 400 miles across the desert to San Diego. From there it was carried in sailing ships to Swansea, Wales. Later, the ore was hauled to Yuma, floated down the Colorado river to the Gulf Of California, and shipped to Swansea. Bat-infested old workings and the massive axles of the bull carts are shown to prove the truth of the stories.

Jan 8, 1914

By G. P. Boomslitter

In previous discussions on stresses in hoisting ropes, little has been said concerning the effect of the elasticity of the rope itself on the stresses due to acceleration. Laschinger1 has calculated acceleration stresses for several cases but he has ignored the elasticity of the rope as a factor, except as it compresses the drum and stretches itself as it winds thereon. He also deals with steam plants and he shows the effect of the "jerky" start of the engine. This effect would actually be reduced by the elasticity of the cable. With the advent of the motor-driven hoist, new conditions have arisen. The jerk mentioned by Laschinger has been eliminated and smoother starting made possible. But the elastic properties of the rope seem to introduce considerable periodic acceleration stresses in the rope. The following discussion of acceleration stresses is based on the assumption of a constant acceleration at the drum. To be exact, the mathematical work is based upon the assumption that the top is moving upward with a constant acceleration, and ignores the fact that the cable is shortening as it winds. However, the effect of the shortening would be inconsiderable during the first part of the acceleration period. Most hoisting engineers make the assumption of constant acceleration at the drum. Under the older method of calculating acceleration stresses, this would be true with a constant torque motor. But if stresses vary, as this paper attempts to show that they do, constant torque would not give constant acceleration, although the velocity-time curves obtained in the full size test herein described showed that they approach rather closely to this condition, at least as nearly as could be measured. Theoretical Discussion According to elementary physics, the force required to accelerate a Wf body of weight W at the rate of f ft. per sec.2 is wf . To raise the body Wf with acceleration of f ft. per see.2 the total force required is I + Wf, in if

Jan 1, 1927

Organization Place Date 1917 Mine Inspectors Institute of U. S. A Indianapolis, Ind. July 9-11 American Society of Sanitary Engineers Grand Rapids, Mich. Aug. 1-3 National Association of Stationary Engineers... Evansville, Ind. Sept. 10-15 National Exposition of Safety and Sanitation.. New York City Sept. 10-15 American Iron, Steel & Electrical Engineers.... Philadelphia, Pa. Sept. 10-14 American Institute of Metals Boston, Mass. Sept. 24-29 American Foundrymen's Association Boston, Mass. Sept. 24-29 Chemical Industries, Third National Exhibition. New York City Sept. 24-29 American Electro-Chemical Society Pittsburgh, Pa. Oct. 3-6

Jan 7, 1917

By AIME AIME

IN accordance with the custom of recent years, the Institute joined with the Western Division of the American Mining Congress in holding a joint meeting at Joplin on Sept. 28, 29 and 30. Actually the meeting might be said to have begun on the 27th, since the Engineering Education Committee held two sessions on that day, which are reported on another page. In addition to these sessions there were informal gatherings in the Hotel Conner, which was the headquarters, on the golf links and elsewhere of all those who had arrived by Sunday morning. The technical sessions were formally opened on Monday morning by Robert E. Tally who, after suitable preliminary remarks, introduced A. Scott Thompson, of Miami, Okla. Mr. Thompson in welcoming the visitors to the Tri-State district said that it had come to be known as a poor man's country and at the present price of zinc did not find it difficult to live up to its name. He also referred to the work Mr. Tally had done for the stabilization of the mineral industry. H. Foster Bain, in responding to this address for the Institute, said that mining men generally felt at home in Joplin, that the solutions of their problems and the general practice that had been developed in the district were not only of great interest to them, but that visitors could learn much

Jan 1, 1931

By David Sinclair, Philip B. Bucky

The dimensions and shapes of mine structures may at present be determined by (1) field experience, (2) structural calculations, and (3) barodynamic tests. § None of these, however, provide information as to the stresses, their direction and distribution in a mine structure. For the design of pillars, the placing of openings relative to working places such as gangways, haulage levels, etc., this information is desirable. Photoelastic methods provide this and, while relatively new, their application in all engineering fields is assuming increasing importance. This paper, therefore, will present the method with a few applications to mining, and with sufficient reference for further study by the reader. PART I The Photoelastic Method The photoelastic method of stress measurement determines the stress distribution in a two-dimensional model by optical means. It makes use of the fact that when a piece of isotropic transparent material, such as glass, celluloid, or Bakelite, is stressed and viewed in polarized** light a picture is seen which indicates by its color bands of light, or fringes, the magnitude of the stresses, their direction and their distribution. General Explanation The stress at any point 0 in a structure (Fig. I), may be resolved into two components, P and Q, each a pure tension or compression, at right angles to each other, called principal stresses.' To fully identify the stress, the values of P and Q and their directions or angle F must be known.

Jan 1, 1940

By David Sinclair, Philip B. Bucky

The dimensions and shapes of mine structures may at present be determined by (1) field experience, (2) structural calculations, and (3) barodynamic tests. § None of these, however, provide information as to the stresses, their direction and distribution in a mine structure. For the design of pillars, the placing of openings relative to working places such as gangways, haulage levels, etc., this information is desirable. Photoelastic methods provide this and, while relatively new, their application in all engineering fields is assuming increasing importance. This paper, therefore, will present the method with a few applications to mining, and with sufficient reference for further study by the reader. PART I The Photoelastic Method The photoelastic method of stress measurement determines the stress distribution in a two-dimensional model by optical means. It makes use of the fact that when a piece of isotropic transparent material, such as glass, celluloid, or Bakelite, is stressed and viewed in polarized** light a picture is seen which indicates by its color bands of light, or fringes, the magnitude of the stresses, their direction and their distribution. General Explanation The stress at any point 0 in a structure (Fig. I), may be resolved into two components, P and Q, each a pure tension or compression, at right angles to each other, called principal stresses.' To fully identify the stress, the values of P and Q and their directions or angle F must be known.

Jan 1, 1940

By R. W. Shoenberger, J. E. McNulty, B. R. Kuchta, William Spackman, A. A. Terchick, M. E. Hopkins, Norman Schapiro, R. J. Gray, A. F. Duzy, M. P. Corriveau

INTRODUCTION * The United States is fortunate in having abundant reserves of metallurgical-grade coals. Although these coals are better in quality and more accessible than most metallurgical-grade coals found throughout the rest of the world, the best grades of these coals are being depleted. Consequently, more efficient exploration tools and techniques, such as advanced methods of core drilling and logging, correlation by petrography, paleontology, palynology, † physical stratigraphy, and geophysical methods are being used to help assess the extent and quality of the remaining coal reserves. Exploration and assessment of new and existing coal properties become of utmost importance in determining ( 1 ) the economic justification for mining the coal, (2) the optimum design of the preparation plant, and (3) the most effective use of the coal. Recent progress has been made in relating mineral matter, especially pyrite, in coal to geologic conditions and paleogeographic trends. l * Editor's note: Because of the numerous and varied contributions of the associate authors of this chapter, the text does not differentiate between sections prepared by each individual as has been done in other chapters. † Palynology is the science concerned with plant microfossils, especially spores. pollen. and other fossils of microscopic size.

Jan 1, 1979

PRESIDENT HORACE V. WINCHELL MINNEAPOLIS, MINN. PAST PRESIDENTS PHILIP N. MOORE ST. Louis, Mo. SIDNEY J. JENNINGS NEW YORK, N. Y. FIRST VICE-PRESIDENT A. R. LEDOUX NEW YORK, N. Y. TREASURER GEORGE D. BARRON NEW YORK, N. Y.

Jan 1, 1923

By Charles T. Malcomson

In the United States, improvements in methods of combustion have made possible the use of the smaller sizes of anthracite. This coal is now being reclaimed from the culm banks accumulated by the miners in the more prodigal years. To-day the freshly mined "slush" is segrega,ted and stored against the time when, through briquetting or some other means, it may be utilized as a commercial fuel. For many years Europe has achieved enviable results in the conservation of her small coal by briquetting. This profitable industry, first placed on a commercial basis in France in 1842, has grown to such magnitude that the production during 1913 exceeded 36,000,000 short tons. Briquets produced in Great Britain are used principally for steam purposes and the greater part of the output is either exported or taken by the Admiralty. On the Continent the briquets are sold in all branches of the coal trade. The French railways consume from 16 to 40 per cent. of their fuel in briquet form, and in Germany the lignite briquets (of which 20,000,000 tons were produced in 1913) are as familiar and interesting to the American traveler as the huge porcelain stoves in which they are burned. It is not strange, therefore, that aggressive and far-sighted promoters heralded this means of converting our ubiquitous coal waste into revenue. To the superficial student the briquetting process seemed so simple as to make success easy. It is for this reason principally that the path of the industry in America has been strewn with failures. The rash enthusiast had either not worked out the mechanical problems involved or had failed to grasp the local conditions under which the briquets must be made and sold. It may be confidently stated, however, that in spite of the many vicissitudes through which it has passed, coal briquetting is now an accomplished economic success in this country, and as a profitable adjunct to the coal industry it has come to stay. Several valuable contributions relating to coal briquetting are found in the Transactions. Charles Dorrance, Jr., has sketched briefly the history of the anthracite briquetting plants from the time of Loiseau's pioneer plant down to that of the Lehigh Coal & Navigation Co. at Lans-ford. Since then this phase of the industry has remained practically at

Jan 1, 1915

By Frank W. Harris

The strength of hard drawn copper wire is a question of considerable importance to both manufacturer and consumer. Unlike steel and alloy wires, in which strength is governed by both chcniical and physical considerations, t,he high conductivity required for copper wire in the clcc-trical industry generally precludes the possibility of obt,aining tensile strength through the use of alloys. Consequently, this strenglh is largely a rnatter of the ~hysical structure, and all factors known to affect this structure, such as rolling temperature, die contours, lubricants, drawing speeds, etc., arc matters of prime importance. The experiments described here have becn carried out dl~ring the past year at the Baltimore plant of the American Smelting & Refining Co., in connection with a general investigat,ion of sorne of the questions mentioned above, with the object of studying thc physical ~t~ructure of hard drawn copper wire and the influence of ccrtain factors on t,hat st'ruct.ure. The work has been of an exploratory nature, rather than con~prehensivc., but it was thought that the result,s might prove of sr~fficient general interest tjo warrant their publicatlion. The bulk of the hard drawn coppcr wire used in places where strength is an important factor is rnanufacturcd to strict specification, based USU-ally in the United States on thab of t,he Arrlerican Society for Tcst'ing Materials (B-1-23). This specification calls for almost as high a, valuc of t,ensilc strength, consistent with elongation, as it is possible pract'icnlly to obtain, and only physically perfect mlaterial can be relied on to lliect such a specification. Obvious defects, such as laminat'ions protluc:etl through fins in bhe original rods or brittleness duo lo ovt~rdrawing, arc. usually recognized and need only passing refercncc. Laminatlions can be detected by twisting and untwisting the wircx several times; they will show up on the surface in the form of fins. Pig. 1 shows a very bad example of this defect. Thc wire may bc perfectly smooth before twisting hut, when such larrlinations arc3 prcstmt they will readily show up under this treatrncnt. This trouble is caliscd by sirriilar defects in the original rod produced by overfills in rolling. Fig. 2 shows the cross-section of the rod from which thc wire in Fig. 1 was drawn.

By Utley Wedge

(Cleveland :Meeting, October, 1012.) In general, the art of securing copper from sulphide ores or concentrates may be said to consist of : (1) separation, in the molten state, of copper sulphide with some iron sulphide, from the great bulk of gangue-material, followed by (2) elimination of sulphur and iron from the molten matte, by oxidation and fluxing, leaving metallic copper. The definition is made broad enough to cover the general practice, whether or not the ore or concentrate is given a preliminary roast for the removal of surplus sulphur. The above process, which I will designate as the smelting process, makes necessary the presence in the ore, or the addition thereto, of such silica, lime, and iron as may be necessary for the formation of a light and fusible slag, together with sufficient sulphur and iron for the formation of copper-matte, and also the addition to the matte of sufficient silica for the oxidation and fluxing-out of the iron. These items, together with the cost of fuel sufficient for melting the mass, constitute important items of cost in the copper-smelting process. Numerous cases where fluxing-materials are scarce or dear, or where fuel is expensive, have caused special attention to be given recently to the wet process of copper-extraction, which may be designated as consisting of forming soluble copper salts which are then washed or leached out of the ore or concentrates by dissolving in water or acid. Metallic copper may then be secured from the solution of copper salts by electrolysis; by cementation; or copper can be brought out of the solution as a * Presented also at the Joint Meeting of the Institute and Section IIIa, Metallurgy and Mining, of the Eighth International Congress or Applied Chemistry, New York, N. Y., September, 1912, and here published by mutual agreement.

Dec 1, 1912

By C. K. Leith

THE purpose of these conferences has been to find some basic principles to guide us in the chaos which confronts us, to arrive at elements of a national policy. None such exists, nor, as a matter of fact, have there been any concerted efforts by the public or the mineral industry to evolve one. In the absence of such a policy the administrative agencies of the government can hardly be expected to be consistent or really effective in their handling of mineral problems, domestic or foreign. Basic Facts MINERAL reserves are unequally distributed among the nations. The principal world supplies are grouped around the north Atlantic, and nearly three-fourths of the world's total is controlled politically and commercially by English-speaking people. No one nation has a complete supply of the minerals necessary for modern industry; specialization, reciprocity, and large-scale movements between the nations are inherent in nature's unequal distribution of them. The principal sources of supply are relatively few compared with the nations to be served-a fact which determines broadly certain natural outlines of the world flow. National isolation with regard to minerals can be accomplished only through backward steps in industry and lower standards of living even in the nations possessing the most of the mineral supplies. A certain measure of unified commercial control, international in scope, is a natural consequence of the limited number of the large sources of supply. Mineral supplies for the world as a whole are so large that there is little need for concern about early exhaustion, but every nation has important problems of early exhaustion of particular minerals, which must affect their policies.

Jan 1, 1933