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By F. W. Bradley

GOLD is a large subject. One could talk about its geological or mineralogical occurrences, prospect- i11.g for it, mining of .it, its metallurgy or its marketing; but I have decided to limit my discussion to gold as a business-that is, to its production and marketing. In the production of gold, it is necessary to consider the many possible sources, the quantities available, the capital and operating costs and the chances of price-breaking competition. So in the following remarks I shall endeavour to point out that though gold is found in every formation constituting the earth's crust, though it is possible to-find it free in great concentrated placer deposits on the surface, though there are still large unprospected areas of both the surface and the crust, though it may be possible to produce it by the cheapest labor on earth, and by processes not as yet developed, it still has an unlimited market at a definite price. There is no reasonable fear of disturbance by the finding of bountiful deposits, or by cheapening the cost of production due to devaluation, or by the development of any easy processes for direct, or for by product, production.

Jan 1, 1932

By S. F. Radtke

The properties and characteristics of lead and zinc have made these metals useful to man in many ways since the days of antiquity. Despite their long history of use, however, these metals have proved to be extremely resilient and responsive to modern needs. New alloys and compounds continue to be developed, adding to the growth of these metals. Consumption data is given for 1969 and compared with one and two decades ago. Trends in major markets also are cited and explained. Uses for lead and zinc which have come into prominence within the past few years are described and explained, with emphasis on the role played by the industry's cooperative research program. Current efforts in the research phase are discussed, with details given on major efforts for both metals, including new alloys, process developments, applications research, finishes, coating, paints and pigments, batteries and fundamental research. A forecast is given of promising new areas and a projection made on a longer term of new applications that may emerge from current research.

Jan 1, 1970

By A. J. WADHAMS

THE relative importance of things is a fascinating subject for thought. As we look about us we realize the Creator of all things has provided the metals for our use, each in the quantity needed-iron in vast quantities gold in small quantities. Had gold been given us in the quantities of iron, the mechanical age mould Eave been very different. You may find some pleasure in running over in your mind this question of the quantity available of an element and man's need of it in the scheme of things. Nickel in this sense is a middle group element. It was not essential to man's early development. Its usefulness dates back only about one hundred years. The quantity available to man has increased as his needs in- creased. On two occasions more nickel became available than was needed and on both of these occasions the ex- cess was soon absorbed by new and useful developments.

Jan 1, 1929

By AIME AIME

A PERIOD of business depression and falling prices always raises questions as to the possible responsibility of the monetary or banking system. This is natural enough, for it is agreed that the supply of money or credit is a very important factor in modern business and in prices. However, it is far from being the only important factor. One of the chief merits of the gold standard is that under its workings the supply of currency and credit is regulated automatically to the masimun extent, in- stead of by the control of any arbitrary authority. The supply of new gold comes from the mines, and mining is free. It is distributed among the countries by the currents of trade and the play of economic forces, with the general result that the distribution tends to be in accordance with the economic development of the countries and their ability to use it or command it. Inasmuch as the accumulated stock of monetary gold is very large in comparison with the annual additions, the total avail- able supply changes but little from year to year, and it may be assumed that price-changes that are properly chargeable to gold will take place gradually rather than suddenly.

Jan 1, 1930

By George C. Stone

WHEN George C. Stone, a Director of the Institute, and so well known to our Members in connection with the Institute's many activities was abroad in 1.919, he secured an interesting collection of these coins, which appeared in Zinc, a publication by the New Jersey Zinc Co. Regarding this collection of coin, Mr. Stone says: "During the war, all gold and most of the silver disappeared, making small change very scarce. As the French Government was fully occupied by the war, it allowed various Chambers of Commerce and other bodies to issue money, both paper and coins. Many of the latter were made of zinc, and I secured several while in Paris. We had all heard of the Belgian and German zinc coins, but I imagine few knew how many different kinds there were. The accompanying plates show both sides of those I got. I took all that the dealer had; but he said that there were a number of others in existence. The coins in the bottom line were issued by the Germans in Belgium during the war and all are still in common use. The first two in the next to the bottom line are German. All of the others were issued by Chambers of Commerce or corporations. A few have been nickel plated; these look and wear much better than the others. "Coins" made of pasteboard were also issued by similar bodies, also notes.

Jan 1, 1920

By Albert Ladd Colby

A GLANCE through the Bibliography appended to this paper will show that the Transactions of this Institute contain what virtually contitutes a history of the development of the manu¬facture of steel rails in this country and abroad. It is, therefore, fitting that this paper, bringing one branch of this important subject down to date, should be here presented, and it is also appropriate to select this joint meeting of our Society with the Iron and Steel Institute to compare the specifications covering the rails produced in these two countries, and to propose a standard specification to govern the manufacture of American rails for export. During the last ten years the production of Bessemer steel rails in the United States and Great Britain has amounted to 32,128,720 gross tons. Nearly 19,000,000 tons have been rolled in the past five years. The next five years will see an even larger output, owing partly to the extension of railway projects in the Orient, in South and Central America, in Mexico, and in Australia and the other British Colonies. Of late years, the American rail-mills have so largely increased their daily output, that trade conditions have often made possible the delivery of American rails to foreign ports. The tenders submitted by American mills, however, have always been accompanied by requests for changes in the foreign specifications, chiefly in the reduction of the amount of testing required; and it has only been natural, especially at first, that the engineer, whose specification had always been accepted without question by British mills, should interpret American tenders 'as an evidence that an inferior rail would be furnished

Sep 1, 1906

By Persifor Frazer

1. SMOKE PREVENTION. Report of Select Committee of House of Commons (1843). Nuisance considerably abated in Leeds (Wm. Backerd, July 13, 1843, 239 pages). A synoptic index, p. 211, gives, in alphabetical order, the digest of every subject taken up. 2. FUEL : ITS COMBUSTION AND ECONOMY. D. Kinnear Clark, C. E. 24mo, 1354 pp. Crosby Lockwood & Co., London (1880). Includes abridgement of treatise on combustion of coal and prevention of smoke, by C. W. Williams, A.I.C.E. 3. DIE RAUCHSCHÄDEN IN DEN WÄLDERN DER UMGEBUNG DER FISCALISCHEN HÜTTENWERKE BEI FREIBERG. Dr. J. v. Schröder, Professor in Tharand, and Dr. A. Schertel, Vorstand des Hüttenlaboratoriums zu Freiberg. Royal 8vo, 27 .pages, 19 pages of tables and a map. Ernst Maukisch, Freiberg (1884). (Aus dem Jahrbuch für das Berg- und Huttenwesen, 1884.) In 1861, Reich and Stockhardt examined the extent of injury to vegetation by the Muldner works. Needles and twigs of pine showed in 100,000 parts : Pb, 5 to 50 ; As, 3.3 to 14.3 ; S02, 62 to 120. In the top twigs, 5 to 8 ; needles, 10 to 16 ; thicker twigs, 10 to 22 ; thinner twig-ends, 17 to 54 of lead. Lead greater in amount in sickly twig-ends with few needles ; also in the bark than in the naked wood of the trunk, which had hardly a trace ; also in the part turned toward the works than on the opposite side. Pb and As diminished in the vegetation with distance from the smelter ; and the same with regard to the soil. Fresh snow was collected, and SO, As, and Pb detected in it.

May 1, 1907

It is probably safe to say that, as the economic well-being of the mining industry goes, so goes the fortunes of mineral explorationists. And in 1977 the industry was not well at all. The year-long depression of the copper industry, marked by layoffs, temporary shutdowns, and mine closures, provided an appropriate background for the collapse of the nickel market, passage of a surface mining law that will affect the hard-rock industry in ways that are yet unclear, and the threat of operating under a new set of rules brought on by reform of the Mining Law of 1872.

Jan 5, 1978

By F. E. ROGERS

CUSHMAN TUNNEL No. 2 is adjacent to the Hood Canal, near potlatch, Wash. It is 17 ft. inside .diameter, about 13,000 ft., or two and one- half, miles in length, and is a part of the second unit of the Cushman power project. It connects Cushman ' Dam No. 2 and the penstocks that lead to the power house on the beach about 400 ft. vertically below the outlet of the tunnel. One shaft, 190 ft. deep, and two adits between 300 and 400 ft. long, were provided to speed up driving operations. his arrangement gave 6 working headings, which were operated 24 hr. daily. The shaft provided a manway, cageway, and skipway.

Jan 1, 1931

By Pat McCarran

WHEN this Government was founded, the framers of the Constitution wrote into that instrument a provision that Congress should "coin money and fix the value thereof;" and the Constitution prohibits making anything but "gold and silver" lawful money. So silver is written into our basic law. Shortly after President Washington took office in 1789 the Congress passed the first Mint Act, setting up the U. S. Mint. In that Act, signed by President Washington on April 2, 1792, the weight of the American dollar was fixed, and it was provided how much silver should be contained in a silver dollar and how much gold should be contained in a gold dollar. It was decided that 371 1/4 grains of pure silver was to be the standard dollar of America. That standard with respect to the pure silver content of the dollar has never changed.

Jan 1, 1947

By Frederic P. Dewey

THE Bureau of the Mint of the United States Treasury maintains 13 offices for the purchase of gold-bullion, and this paper describes an investigation to establish the reasonable differences in the assay-results at the various institutions which may be commercially allowable in the settlements between them. Beginning with the comparative assay of proof-gold at the Philadelphia mint and the Utrecht mint, which shows 0.00002 as the closest agreement now possible, eight tables of comparative results, taken from the regular work of the service, are given. These tables begin with very fine gold, produced in an electrolytic refinery, showing close agreement. in the assay-results, and follow through decreasing gold fineness and . increasing amounts and complexity of base metals to very impure and complex bars produced at cyanide-mills, some of which give widely-varying results. Next is given a series of results on samples, prepared and sent out to various laboratories in the service, to test the influence of different metals and various combinations upon the' agreement of the assay-results; 11 samples were sent out and each one was assayed from 44 to 71 times, making a total of 623 assays. To these are added 107 assays of identical samples of coin-gold. On a previous occasion,' I have endeavored to show the degree of accuracy that may be expected in the ordinary everyday analysis of various materials, and on another occasion2 I

Aug 1, 1909

By ABBOT A. HANKS

WHEN gold was discovered in California, and San Francisco grew almost over night from a handful of people to many thousands, one of the first difficulties experienced was the lack of money. Gold dust in considerable quantities was rushed into the city from the various mining camps but there was no money. Purchases were paid for by weighing out dust in hand scales. We can appreciate' the difficulty of paying for a drink or buying a postage stamp under these conditions. All this gold was in the form of dust from placer workings and the first metallurgists were the assayers' who melted and refined this gold, casting it into bars which were weighed, assayed, stamped with fineness; value, and the name of the assayer. Many .of these plants were of considerable size, handling shipments that were accumulated by banks and express companies throughout the "Diggings" and sent to San Francisco to be shipped by water to the eastern states. Several

Jan 1, 1931

By Andrew Meyer

As a producer of gold and platinum, Colombia is most emphatically an important country. Last year it produced 656,000 oz. of gold-twice as much as any other country in South America, in fact accounting for a third of the production of that continent. In platinum, world data for 1941 are not available, but in 1939 Colombia exported 39,000 oz., apparently ranking fourth among the world's producing countries, being exceeded only by Canada, Russia, and the Union of South Africa. Colombia was always a mining country. Centuries before the Conquest, Indians mined gold, copper, silver, salt, and emeralds. The Spaniards simply intensified mining. The Bank of the Republic states that from 1493 to 1940 52,177,427 oz. of gold was produced by Colombia, and official Chocó statistics show that about $60,000,000 worth of platinum was mined between 1908 and 1941. These figures are impressive indeed considering that only rich pockets and surface showings were mined by the ancients.

Jan 1, 1942

By R. W. Raymond

On the Manchuria. SOMEWHAT fatigued with excess of enjoyment and strenuous continuity of movement on the trip to and through California, the members and guests of the Institute party embarked Tuesday, Oct. 17, on the Pacific Mail S. S. Manchuria for a further journey to and through Japan. The good ship displayed the flag of the Institute (blue cross-hammers on a white ground), together with the Stars and Stripes and the ensign of the company. Uninterrupted fair weather and smooth water attended the passage to Honolulu. The Manchuria proved herself most commodious, comfortable and clean ("A sweeter steamship never sailed," quoth President Hunt) ; Captain Dixon and his officers were most agreeable, as well as most efficient; the passenger list comprised many congenial people besides ourselves-among them a score of missionary folk, and also Mr. M. H. de Young, Vice-President of the Panama

Jan 1, 1912

By A. J. Weinig

IN the accompanying figure consider the classified AB in closed circuit with a ball mill, wherein T = Tonnage of new feed C = Ratio of circulating load Now consider that the circulating load is made up of two portions of ore. One portion is due entirely to the characteristics of the ball mill and the tonnage of new feed impressed on the ball mill. This portion of the circulating load in no way is to be blamed on the characteristics of the classifier and is all composed of oversize. Consider, for illustration, that this portion of the circulating load is handled in the A division of the classifier, assuming that the classifier is divided longitudinally into two divisions by an imaginary line. Because the classifier does not usually make a perfect separation of the undersize, a certain portion of the total circulating load is to be directly blamed on the efficiency of the classifier. Let this portion of the circulating load be considered as being handled in the B division of the classifier. Now if the classifier is operating perfectly (100 per cent efficient), the width due to the B division becomes zero and correspondingly the efficiency of the classifier diminishes as B becomes wider in proportion to A. If E is the mechanical efficiency, then

Jan 1, 1934

By JOHN JANNEY

STABILIZATION of the adjustment of normal consumption to normal production of world commodities is quite different from reducing production until visible surpluses are consumed. The first means restoration and maintenance of prosperity, the second means merely a temporary alleviation of a condition with the prime cause remaining uncorrected. Overproduction of foodstuffs in some sections of the world while millions starve in other sections represents not so much overproduction of foodstuffs as mal-distribution of foodstuffs. The flour mills of Washington and Oregon normally ship quantities of flour to China. Now, the wheat that would make this flour goes East instead of West. Is this overproduction, or is there something wrong that calls for study, analysis and correction? Can the plan used by the ostrich of hiding its head in. the sand get us by this present world tragedy, or must the challenge to solve this problem be met, constructively? Can we not make out of this breakdown in the world's economic system an opportunity? And use it as the stimulus for remedying the basic cause of the trouble and not content ourselves with devising temporary expedients that aim at remedying this or that of the obvious conditions, in themselves not causes at all but rather the evidence of causes, or that are the symptoms of the real trouble.

Jan 1, 1931

By A. Lucian Walker

SILVER is not only of paramount importance to millions of people as a medium of savings and to other millions as a medium of exchange, but it is also valuable and useful in industry. Mexico continues to be the largest producer of this metal, followed by the United States, Canada, and Peru. The largest consumers are China and India, which normally absorb about two-thirds of the world's mine production, hoarding it as savings. The imports by these countries exert a powerful influence upon the price, yet neither country is on the silver standard. China having abandoned it in 1935 and India in 1893, when the rupee was definitely linked to the pound sterling. Other nations such as Persia, Ethiopia, Mexico, and many of the South American countries either have been on the silver standard or have used silver as their chief circulating medium, and most large nations use it for subsidiary coins, this use accounting for 20 to 30 million ounces annually. The arts and industries have consumed 35 to 40 million ounces each year.

Jan 1, 1937

Jan 1, 1902

By AIME AIME

EDWIN W. KEMMERER, professor of international finance at Princeton, in a speech before a banking conference at Urbana, Ill., on Nov. 26, stated that the increase in the store of gold held by the United States is not so alarming as it appears on the surface. Excerpts from his address, as reported by The New York Times, follow: "It is significant . . . that the value of gold as expressed in its purchasing power in the United States during the last half-dozen years has been higher than at any other equivalent period since our records began 140 years ago. Our so-called 59-cent dollar today buys about 25 per cent more goods at wholesale than did our old dollar in the prosperous year 1926, and an ounce of gold will now buy considerably more than twice what it did then. This present high value of gold is one reason for its recent large production.

Jan 1, 1941

By FREDERICW K. BRADLE

I HAVE been puzzled by two lines of thought'; one emanating from Washington, D. C., to the effect that we must all cheer up, that in a very short time, measured in terms of months, prices would begin to recover, business would become normal, and prosperity would continue on its way just as before the interruption of a year ago; and a second, coming from certain industrialists and economists, expressing fears that all commodity prices were in for a long downward trend, which would cause much unemployment, eventually drag down wages and so restrict purchasing power as to further aggravate the situation. One basis for the fear of a downward trend in commodity prices' is that ifter great wars a depression could last for something like 40 years-the downward trend to such a depression after our recent World War having been postponed for some reason or other; and the basis for another fear was that the production of gold was becoming less. I had 'also been trying for some time past to refresh my recollection as to how my ow11 particular lead interest climbed out of the depression of 1893; and as all the metals have had, and still have. relative values and prices, I can best express what I have in mind by talking principally about lead.

Jan 1, 1930