Post-War Position of Gold Mining in Canada

IF gold mining is to assume, or it might be better said to resume, a place of ' importance in the national economy of this country following the present war, then one must accept the thesis that gold will maintain the place it has for many generations held in the minds of men as a substantial and lasting emblem of material wealth-a metal in exchange for which men have always been ready to give up the possession of their worldly goods. The thought bas been advanced by some that gold is not necessary as a basis for exchange, that it has no real value anyway and, therefore, the world would wake up some morning to find that no one wanted gold and that, over night, its possession bad in some way ceased to be desired. Holding an equally extreme view there are those who advance the idea that, following the war, gold will in some mysterious way enjoy a fantastic increase in value. Neither of these extreme views can be successfully supported. To presume that by legislation or by general agreement gold would be or could be, over night, dethroned to the position of common stone is wholly beyond the realm of any possibility. The thought that this could come to pass is advanced by, and is attractive to, only those peoples who do not have gold and do r:ot have the means of producing it. To believe that the fundamental value of gold will suddenly change is likewise fantastic. I refer to the fundamental value, not the dollar price, of gold, for it cannot be denied that, with the colossal war expenditures now being made and with the huge national debts which are being piled up, there is a possibility, indeed per-haps a likelihood, that the dollar price .of gold may be revised upward. For the purpose of this discussion, however, that possibility is irrelevant and need not be considered.