Institute Reports for the Year 1925

TO THE BOARD OF DIRECTORS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS Gentlemen -The Institute was founded 54 years ago "with the object of promoting the arts and sciences connected with the economic production of the useful minerals and metals and the welfare of those employed in these industries by means of meetings for social intercourse and the reading and discussion of professional papers, and to circulate by means of publications among its members and associates the information thus obtained" At least once a year it is well to take stock of our assets, review our performance and determine how well we are now carrying out the purposes of our Founders There can be no question as to the work the Institute has done and is doing in promoting the arts and sciences in the fields of mining and metallurgy One needs only to contiast the methods, the labor and the costs of a half century ago with those now to visualize how far we have gone in the development of accurate technology and sound economics in mineral and metal production The great mines, mills and smelters of the present, handling individually thousands of tons per day, would have been impossible except for the accumulation of knowledge, the development of theory, and the improvement in practice that has charac¬terized the period since the foundation of the Institute The United States has prospered in the last half century greatly, and this has been due not merely to the possession of great natural resources, but to these resources being reduced to possession and put to work The absence of customs barriers and the freedom of trade across the whole width of this great continent has been an important factor in the growth of our wealth Unrestricted interchange of goods has permitted each citizen to draw on the resources of the whole country However, these are but subsidiary causes of prosperity The free interchange of scientific and technical data, by making the whole body of facts and theory available to each worker, has made this quick and unrivaled development possible In promoting this free trade in knowledge the Institute may claim a large place without fear of denial The 72 volumes of TRANSACTIONS, the special volumes, the bulletins and the other pub¬lications that have been issued, include a store of knowledge of the arts and sciences related to the pioduction and use of metals and minerals not duplicated elsewhere The large list of foreign members-1746 in number-few of whom ever have opportunity to attend meetings and all of whom derive their main benefits from membership through the pub-