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[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1893 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. I. R. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs and Mine Management ` 188, Ataturk Bulvari-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 8 Haward-Canfleld Bldg. Santa Barbara, Calif.]

Jan 1, 1952

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1693 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. I. R. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs, and Mine Management 156, Ataturk Bulvari-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 210 La Arcada Bldg. Santa Barbara, Calif.]

Jan 1, 1952

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1693 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4. N. Y. I. R. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs and Mine Management 156, Ataturk Bulvarl-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 210 La Arcade Bids. Santa Barbara, Calif.]

Jan 1, 1952

By L. BENEDICT

COMMENTING on the report of the latest Royal Commission for India, the September, 1926, issue of the National City Bank's monthly letter states, among other things, that "The decision of the Royal Commission is against the proposal for a gold coinage, but in favor of placing the silver coins and paper currency now redeemable in silver on a gold basis." Also, it quotes the following from the Royal Commission's report: The essence of the proposal * * * * * is that the ordinary medium of circulation in India should remain as at present the currency note and the silver rupee, and that the stability of the currency in terms of gold should be secured by making the currency directly convertible into gold for all purposes, but the gold should not circulate as money. It must not circulate at first, and it need not circulate ever. In this connection it may be stated that during the last one hundred and fifty years or so unsuccessful attempts have been made by the governments of different nations of the world to devise a plan or plans by which gold and silver could be used concurrently for money purposes and, particularly, as standard money; such, for example, as bimetallism, which, of course, is impracticable. But, since none of such plans has been adopted generally it is logical to conclude that their proponents did not shape them so as to conform to the basic principle of standard money, or else political issues were deemed to be dominant, or, perhaps, it was partly due to each.

Jan 1, 1926

On June 4, Kennecott Utah Copper (KUC)marked the centennial of the founding of the original company. Bill Champion is president and chief executive officer of KUC. He said, “What has happened during the past 100 years far surpassed even the most optimistic visions of men like Daniel C. Jackling and Robert Gemmell when they promoted the concept of mass production techniques for a low-grade deposit of copper ore. At that time, it was a totally new way of doing things and the mining leaders of that day scoffed at the idea. They said it would never work,” Champion said. The company will celebrate this once-in-a-lifetime occasion with a few special projects, mainly for the benefit of our employees, said Louie Cononelos, director of government and public affairs for KUC. The company has designed and minted a commemorative copper coin that reflects early steam shovel and locomotive operations on one side, and today’s modern electric shovels and huge haulage trucks on the other side. “The history of the company stems from the ores of the Bingham Canyon Mine. That coin has been encased as part of a10-panel brochure that captures the company’s 100 year history,” he said. KUC also developed special centennial banners and comparable framed posters that were displayed throughout its operations and at selected community locations that have enjoyed a long-time partnership and special relationship with the company. Some of the plants also designed their own centennial hardhat decals.

Jan 1, 2003

By H. S. COOLEY

TO talk about a "factor of economy" in connection with the wire ropes used in mining practice may be coining a new phrase. If such be the case it needs no other apology than that economy in wire rope usage is so bound up with the factor of safety as to justify a similarity in naming that makes one suggest the other. At the latest Wire Rope Research Conference, held under the auspices of the A. S. M. E., Re- search Committee and Engineering Foundation, data were introduced covering mine ropes working under

Jan 1, 1930

By George H. Willis

In the second half of the nineteenth century, bimetallism progressively replaced by gold standard. After World War I and 1931-33 depression, gold mainly reserved for official international transactions and internal use restricted. Changes since 1971 have shrunk official international use of gold. International payments deficits and surpluses now financed by private and official credit, rarely by gold. Historical review covers evolution of: (1) internal and external private use, (2) internal official use, (3) external official use, (4) role in IMF and (5) use as unit of account.

Jan 1, 1978

By J. Patrick Ryan, Thor H. Kiilsgaard, Charles W. Merrill, E. T. McKnight

The U.S. Treasury stocks of silver have been reduced at such a rapid rate to meet industrial and coinage requirements that they face exhaustion in 3 or 4 years. Alleviation of the silver problem will require increasing supply or reduc ing demand. This paper examines poss ible long-range resource development and research programs and improved secondary recovery. The possible reduction or elimination of silver in coinage and development and introduction of substitutes in the arts and industry are also discussed.

Feb 1, 1965

By H. C. Cooke

THE gold mining industry, in Canada as in other countries, has passed through trying times in the past year. The strains and stresses of war have drawn away much of its man-power, both from the labour and the management. The urgent needs of the war machine have greatly curtailed the amounts of steel and explosives that can be allotted to the mines; and the loss, by enemy action, of supplies of such essential things as rubber, bids fair to reduce operations still further, if not cripple them entirely in time. And, as if these difficulties were not enough, war on the psychological front has been declared on the gold mines. Earnest supporters of the war effort, well-meaning theorists, and perhaps others whose intent is less disinterested, have all combined to clamour against the continuance of gold mining. We have been asked, what is the use of taking gold out of one hole in Canada to put it into another in Kentucky. We have been assured that gold will never again have any value, except for filling teeth. We have been repeatedly adjured to look at Germany, how well it has got along without gold. We have been told that it is unthinkable, when this nation is girding her loins for war, that labour and materials should be diverted to this useless effort. Gold miners should be diverted to the base-metal mines, where they can produce something of real value to the war effort; or to war factories; or, in fact, almost anywhere, so long as they are got out of the gold mines. And, what has made the situation even more disturbing, it has seemed as if all this clamour might be convincing governments. In fact, as you all know, the government of the United States did actually take the step of ordering its gold mines to cease operations. Fortunately, however, for Canada, the facts that no large favourable effects resulted from that action, and that, in Canada, gold mining is a much larger part of the national economy than in the United States, have caused our government, so far at least, to avoid this drastic step. In talking about this, however, let me emphasize that I have no more inside information on the subject than any of you. Like Will Rogers, all I know is what I see in the papers.

Jan 1, 1943

By Charles W. Merrill

The U .S. Treasury stocks of silver have been reduced at such a rapid rate to meet industrial and coinage requirements that they face exhaustion in 3 or 4 years. Alleviation of the silver problem will require increasing supply or reducing demand. This paper examines possible long-range resource development and research programs and improved secondary recovery. The possible reduction or elimination of silver in coinage and development and introduction of substitutes in the arts and industry are also discussed.

Jan 1, 1965

By Charles W. Merrill

The U.S. Treasury stocks of silver have been reduced at such a rapid rate to meet industrial and coinage requirements that they face exhaustion in 3 or 4 years. Alleviation of the silver problem will require increasing supply or reducing demand. This paper examines possible long-range resource development and research programs and improved secondary recovery. The possible reduction or elimination of silver in coinage and development and introduction of substitutes in the arts and industry are also discussed.

Jan 1, 1965

By J. E. Hoffman

The operation of the U .S Metals Refining Company, USMR Co. is defined below by the description of a variety of unit processes and operations the author encountered during his tenure with the operation, 1955 - 1978. The operations discussed include: sampling and sweating of radiators, processing of Indian Coin, treatment of insulated wire, baghouse and converter dust treatment, blast furnace and converter operation, the electric arc furnace, antimony control, selenium and tellurium products, electrolyte liberation with soluble anodes, and the precious metals refinery. These operations, although peripheral to the primary copper production circuit, were critical to the company's technological and economic base.

Jan 1, 2000

By Meyer Klein

Decision theory is the formal theory of the logic of decisions in view of the decision maker's objectives, preferences, I beliefs, and available information, It usually deals with weighty economic problems involving irrevocable (or costly to reverse) decisions. Capital investment planning problems constitute an instance par excellence for application of the decision theory concepts. Decision theory as it is presently conceived has evolved in recent years. At first it concentrated on decisions in the face of total lack of information and on games with intelligent adversaries. The results of these efforts proved theoretically interesting, but practically of little applicability. In the last few years, stress has shifted to the introduction of subjective probabilities and preferences, and the results have been eminently successful in applications both in government and with- in business firms in the resolution of complex problems.

Jan 1, 1970

By Scott Turner

The monetary metals , gold and silver , have recently been the object of such general interest that the United States Bureau of Mines has received many inquiries regarding them . Though requests for technologic information have been numerous , they have been exceeded in number by those concerned with economic aspects of these metals . The nature of the latter communications indicates that the public is not generally aware that various Bureau publications are available which deal with the economic situation of gold and silver . For this reason , it is deemed advisable to present a brief résumé of the papers which are obtainable from the Bureau or the Superintendent of Documents , together with the text of three articles recently prepared by the Director , reprints of which are not otherwise available . The Bureau of Mines compiles figures showing mine production of gold and silver , by districts and States , and cooperates with the Bureau of the Mint in determining the total annual output in the United States as a whole . 3 It recently established an annual canvass to determine the consumption of silver in the arts and industries of the United States , and published an economic paper covering such use in 1928 and 1929 , followed by an information circular on silver consumption by industry during the 2 years subsequent . A 4-year record is thus provided for those interested in utilization of silver . The Bureau has also published summarizations of all available data upon world production since 1493 of gold and of silver . It has , furthermore , rendered available a compilation of production- data of silver mines of the world , and an analysis of it , showing the proportions of silver and other metals contained in all the ores from which silver is derived . " All of these papers are concerned solely with putting into readily usable form statistical data and other factual material ; they do not offer theories or express opinions upon controversial questions related to these metals . Three other recent papers concerned with gold and silver are presented below in order to put them in shape for distribution by the United States Bureau of Mines . All three of them are by the Director of the Bureau . It should be noted that these papers do not commit

Jul 1, 1933

By William H. Snyer

A relatively inexpensive, very fast response photo-optic/fiberoptic system has been conceived, constructed and employed by Denver Research Institute (DRI) to measure charge breakout uniformity on the surface of a very large ANFO detonation. The new equipment and technique was coined OWL (observation without leads). Its unique design provides the ability to monitor or measure detonation velocities and/or detonation breakout characteristics without fiberoptic or any other direct contact with the explosive. This system has proven to be versatile and has been used to measure surface breakout simultaneity on large ANFO detonations, munition case breakout times and velocity of detonation (VOD).

Jan 1, 1990

By J. E. Dutrizac, J. B. O'Reilly

"Zinc is a relatively abundant element which occurs as both high-grade sulphide ores {sphalerite ZnS) and oxide ores which the ancients collectively termed ""calamine"" (smithsonite ZnC03 and/ or hemimorphite Zn4Si201(0H)2 - H20 and/ or hydrozincite Zn5(C03) 2(0H)6). Although oxidic zinc is readily reduced by carbon, the process becomes thermodynamically viable only at - 1000°C, and at this temperature the zinc is released as a vapour (B.P. 907°C). Casual cooling of the vapour results in its re-oxidation by excess combustion air or even the carbon monoxide product of the reduction reaction. ZnO + C = C09,, + Zn vapom Only fairly rapid quenching of the zinc vapour and the isolation of the reduction products from the combustion gases will yield metallic zinc; these conditions were not produced deliberately until the advent of distillation technology. Until quite recently, the principal use of zinc was in brass manufacture; galvanized iron was not discovered until the 19th century and zinc casting alloys are a relatively recent invention. As will be seen, brass could be produced without recourse to a pure zinc intermediary, and the discovery of brass preceded that of zinc by many centuries. The purpose of this paper is to outline the discovery and early development of both zinc and brass with special reference to the European scene."

Jan 1, 1999

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 Keith L. Harris

Buoyed primarily by growing consumer spending, the economy rebounded from a weak second quarter. According to preliminary estimates released by the Department of Commerce, real gross national product (GNP) grew $2 1.9 billion during the third quarter, producing a seasonally adjusted annual growth rate of 2.4%, compared with a rate of 0.6% in the second quarter of 1986 and 4.1% for the third quarter of 1985 (table 1). Third-quarter real personal consumption expenditures and Government purchases of goods and services rose $42 billion and $7 billion, respectively, but those gains were partially offset by the continuing decline of gross private domestic investment, off $16 billion, and the growing trade deficit, up $11 billion. Three quarters of the growth in consumer spending occurred in the durable goods sector as consumers responded to discounted financing offered by automobile manufacturers attempting to lower inventories of 1986 vehicles, Increased purchases of other durable goods, such as furniture and home furnishings, also contributed to the strength of the durable goods sector. The success of the automobile inventory reduction program as well as weak factory output led to a $20 billion decline in inventory growth. Investment for housing and producers' durable equipment expanded, however, and mitigated some of the impact of slower inventory depending on gross private domestic investment, Capital spending for nonresidential structures declined for the third consecutive quarter. The declining capital spending and the growing trade deficit continued to be significant and interrelated problems for the economy. Real capital spending for new plants and equipment during 1986 is expected to decline 2.5% after rising 8.7% in 1985 and 15.8% in 1984 (table 2). It is likely that capital expenditures bottomed out in the second quarter and that they will expand in the third and fourth quarters. The first-half decline was partially attributed to uncertainty arising from the pending tax- overhaul bill. Furthermore, there is little impetus for corporations to invest in new capacity since factories are operating at less than 80% of capacity (table 3) largely because of the continuing growth of imports. The growth rate of the trade deficit dropped sharply in the third quarter to less than half that of the previous quarter. Low oil prices, declining auto- mobile and steel imports, and increased exports of agricultural goods contributed to this decline. The continued low growth of the economy caused the Federal Reserve System to reduce the discount rate for the fourth time this year (in late August), drop ping it to 5,596, the lowest level in about 9 years. Inflation, as measured by the fixed- weighted GNP price Index, continues to remain low, but rose from the revised second-quarter level of 1.7% to 2.596, mostly because of rising food costs.

Jan 1, 1986

By Richard J. Stoehr

Man has mined in all his time on earth about 3 billion ounces of gold. About one-half of this has been mined in the past 35 years. This gold is roughly in 3 large holdings: one-third held as reserves in Central Banks; one-third held as personal reserves; and one-third is in jewelry or other fabricated products. The world per capita availability of mined gold is increasing and there are many factors and forces shaping gold's future. Currently, gold has a favorable exchange ratio and this is encouraging many new gold-mining developments. Production is increasing and new techniques are surfacing. The use of gold in the financial markets is increasing in some unique ways and gold is again fulfilling its role as a universal money, making gold's future predictable. Currently, man is mining gold at the rate of approximately 44 million ounces annually and is therefore adding to the total supply of gold approximately 1.5% of newly mined gold each year. This current production plays a small role in the pricing mechanisms since a very large part of the 3 billion ounces mined in all of history is available to the market in one form or another.

Jan 1, 1984

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