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By William F. Butler, Mo-Hung Che

DEVELOPMENT OF MONEY AND MONEY STANDARDS This chapter is concerned with the rise, and then the decline and fall, of gold and silver as monetary metals. As a first step in tracing the history of this process, it is necessary to consider the nature of money, and the manner in which different forms of money have developed over the centuries. The origins of money go back into deepest antiquity. Once men ceased to be pure nomads and entered into even a rudimentary form of society such as clans or tribes, money had to be invented The first step was barter as farmers or hunters swapped their surplus products for things produced by artisans such as shoes, clothing, and simple tools. But such barter trading is inconvenient even in primative societies It is difficult to match up buyer and seller at any point in time There are problems in arriving at viable and acceptable terms of exchange. The accumulation of savings-wealth-is complicated. No one can be sure that a pile of furs, or wheat, or certainly fish or game can be used in the future to trade for other goods or services. So even prehistoric man saw the need for money. There was a need first for something to serve as a medium of exchange This was an essential first step in the process of specialization-or the division of labor. A farmer, a hunter, or a shoemaker could only devote his full efforts to his trade if he could be sure that he could exchange his surplus production for the other things he needed for existence. This required a medium of exchange-a form of money which would be broadly acceptable. Money was needed for two other reasons Some system of market prices was essential to facilitate the exchange of goods and services. This required some form of common denominator-some standard of value-to govern the exchange process. And there was also need for something to serve as a store of value, a place to put any excess production (savings) with the assurance that it can be used in the future to acquire a general range of goods and services. As a result, money, in one form or another, developed at a very early state in civilization. Yet the centuries have been marked by a search for a form of money which will possess in full measure all of the attributes in money-a reliable and universally acceptable medium of exchange, standard of value, and store of value. -A wide variety of things have been used as money at one time or another: shells, beads, stones, feather, metals, and even the teeth of sharks and dogs. Some of these things were obviously of little or no practical value. They were used because people had confidence in their continued acceptance as a medium of exchange. As the world evolved and as trading ex-

Jan 1, 1976

By Donald B. Gillies

WE HAVE come a long way since the time of the old steel master who declared that chemistry would ultimately bring the steel business to ruin. Yet I sometimes doubt whether even now we fully recognize the great debt we owe to the institutions that today are initiating young men into the fascinating mysteries of science and training them in the art of engineering. I am not sure that we recognize the importance of the contribution that the schools of applied science and the technical colleges are making to our industrial economy. That contribution is neither narrow nor restricted. It covers the whole range of industry. Dr. Compton, himself, has shown in his survey of leading American corporations that the engineer is twelve times more likely than the nonengineer to become president, five times more likely to become treasurer, and thirty times more likely to become an officer. So the hand of the engineer not only is all-powerful in the laboratory and in the drafting room but his control is increasing in all departments of management.

Jan 1, 1940

General Aurelio Blanquet,* the best known of living Mexican soldiers, formerly the trusted friend of Porfirio Diaz and organizer of the old Federal Guard of Mexico City, who as a sergeant commanded the squad that executed sentence on Emperor Maximilian, and. more recently was Minister of War in the Cabinet of Victoriano Huerta, landed in Mexico early in April and joined the forces of Felix Diaz. His landing in the state of Vera Cruz, it was stated, was for the definite purpose of aiding the movement now under way to overthrow Venustiano Carranza and to place in power a government that will be "pro-Ally" in its sympathies and will promulgate and enforce laws that will guarantee the rights of life and property in Mexico. The New York Tinges says of the revolution editorially: "Whatever may be the success of General Aurelio Blanquet's attempt to overthrow the Carranza Government in Mexico, admiration cannot be withheld from the General's publicity manager. No enterprise awning at the overthrow of a Government ever had more favorable and widespread advertising. Felix Diaz, whom Blanquet is going to reinforce, supersede, or overthrow, as the case may be-Mexican precedent in these matters offers opportunity for considerable speculation-has been conducting his revolution, at the old stand for some time, but without much success. But, says General Blanquet's representative, the landing of Blanquet will send a thrill to the heart of every true republican.' Meanwhile a biographical booklet is published, adorned with photo¬graphs illustrating the General's record, including such varied matters as the General in favor, receiving a decoration from Victoriano Huerta, and the General in exile, feeding the birds in Central Park."

Jan 5, 1919

By W. A., Wasley

THE EL TIGRE MINE is a highgrade silver and gold producer located in the northern part of Sonora, Mexico. It has been worked continuously since 1903, producing 50,000.000 oz. of silver and returning handsome dividends. During 1930 and 1931 falling silver prices compelled the Tigre company to make representations before the Department of Labor in Mexico City showing the necessity for drastic reductions in wages and personnel. The delays in obtaining permission from the Federal Labor Board to make these readjustments caused the company to suffer considerable financial loss during those years. After the reduction in operations was finally effected, the Sonora state government headed by Señor Francisco Elias (former Governor, now Secretary of Agriculture) and Señor Rodolfo Elias Calles (present Governor and eldest son of Señor Plutarco Elias Calles, recently Secretary of War and former President of Mexico) have cooperated with the company to make continued operation possible by revising downward certain state taxes that would have been a factor in forcing the closing of this mine. Also, permission to change our workmen over to another system of mining was essential to continued operation.

Jan 1, 1933

By C. McCulloch

OPEN-PIT mining of coal is relatively a recent innovation; men still active in the industry can trace its development. Re- viewing the growth of operations from the original horse-drawn scrapers, through the various stages of power equipment to the huge strip- ping shovels of today, one also notes changes in the methods of what the coal man calls preparation at the face. We really should not call it face preparation because, in contrast to underground mining, a face does not exist in strip mining. Further, preparation of the coal for market at the loading point has already, in but a few years, become largely of historic interest only and modern mines as well as old mines recently modernized rely almost entirely on separate and elaborate preparation plants to produce marketable coal. This practice was not voluntarily adopted by the producer but was forced upon him by the inadequacy of previous

Jan 1, 1939

By Zay Jeffries

HOSTILITIES in Europe, Asia, and northern Africa were responsible for dislocations in rare-metal supplies during 1940. Although the consumption of some of the rare metals is small the dislocations may be relatively large. In some cases these are advantageous to North America and in others they are disadvantageous. Specific instances will be cited later. Barium T HIN films of barium metal on special steel balls greatly improve the life and reduce the friction of rotating anodes in highly evacuated small X-ray tubes and make possible the operation of these anodes at relatively high temperatures. These remarkable results are described in an article by Atlee, Wilson, and Filmer in the Journal of Applied Physics for September, 1940. Oil could not be used because of the high temperatures on the one hand and its volatility on the other. Fig. 3 shows diagramatically the rotating anode and the method of coating the steel balls with barium. The letters K.I.C. refer to "Kemet Iron Clad." The K.I.C. wire was mounted so that the barium could be evaporated by direct passage of the electric current. At high temperatures the barium dif-

Jan 1, 1941

By H. O. HOPMAN

(Canal Zone Meeting, November, 1910.) I. INTRODUCTION. THE substance of this paper was prepared for the Seventh International Congress of Applied Chemistry, held in London, May, 1909, under the title, Some Developments in Blast-Roasting. In the absence of the author, a -short abstract of the paper was read, and the abstract only will appear in the proceedings of the congress. The present paper has been partly rewritten and considerably enlarged by information gained since the original was prepared ; also some illustrations have been added. Blast-roasting' is a generic term for the process of forcing air through finely-divided. metallic sulphide with the object of roasting and agglomerating in a single operation. At first the process was confined to a galena-concentrate ; lime, limestone, or gypsum was added, to serve both as a diluent to keep separate the particles of galena that they might be thoroughly oxidized, and as a flux that the partly-roasted ore might be agglomerated by the formation of some slag. Later it was extended to treat other metallic sulphides. The leading processes were the Huntington-Heberlein and the Savelsberg of Europe, and the Carmichael-Bradford of Australia. In the United States and Canada, the Huntington-Heberlein process has found application in some instances with galena-concentrates, for which it was originally intended; but this class of ore is not often treated alone, hence the process has had to be modified to suit conditions. The Savelsberg process has been transplanted to this country in about its original form. The Carmichael-Bradford is not used at present. The changes called for in the Huntington-Heberlein process to adapt it to the class of lead-bearing ores usually smelted have been the 1 A. S. Dwight, Engineering and Mining Journal, vol. lxxxv., No. 13, p. 649 (Mar. 28, 1908).

Jun 1, 1910

By John Fritz

TROUGH it is not a condition of the Award, the fact is that the John Fritz Medal never has been given to an engineer who had not already received one or more similar awards. This "medal for medalists," on the evening of April 20, was presented to Daniel C. Jackling at a special dinner held at the Union League Club in New York. The citation read "For notable industrial achievement in initiating mass production of copper from low-grade ores through the application of engineering principles." The present award recognizes the same accomplishment-the launching and guiding to the port of marvelous success of the Utah Copper Co., first of the so-called "Porphyries"-as did the award of the William Lawrence Saunders Gold Medal by the A.I.M.E. in 1930, and before that the Award of the Gold Medal of the Mining and Metallurgical Society of America in 1926. Following the custom a biography of the Medalist had been published in a small pamphlet as a supplement to the John Fritz Medal Book. T. A. Rickard was the au¬thor of the sketch of Mr. Jackling, an innovation being the placing of a copy of the booklet at the place of each of the diners. The committee in charge of the dinner consisted of two past-presidents: R. E. Tally, of the A.I.M.E., who was chairman; Bancroft Gherardi, of the A.I.E.E.; and Thaddeus Merriman, director of the A. S. C. E., the John Fritz Medal being a joint award of the four societies. Frederick M. Becket, President of the A.I.M.E., as chairman for the occasion, briefly stated the purpose of the dinner. He stressed his satisfaction that the award was symbolic of the cooperative professional activities of the four great national organizations of engineers. He introduced Francis Lee Stuart, past-president of the A.S.C.E. and now chairman of the John Fritz Medal Board of Award. Mr. Stuart outlined the history and purpose of the Medal established in 1902 in memory of John Fritz, of Bethlehem, Pa., one of the great pioneers of America's iron and steel industry, metallurgist, and president of the A.I.M.E. in 1894. Mr. Stuart called the roll of former John Fritz Medalists, three of whom, Ralph Modjeski, J. Waldo Smith, and Ambrose Swasey, were present to do honor to Mr. Jackling. He then introduced George Otis Smith, whose privilege it was to present the Medalist for 1933. Dr. Smith was the senior of the four A.I.M.E. representatives on the Board that last year selected Mr. Jackling for the honor. His speech follows in full.

Jan 1, 1933

By C. E. Meissner

The need for a practical method of deciding upon new alloy steel analyses to widen its markets was the problem facing the Chrome Steel Works at the beginning of 1927. In addition to determining the physical properties of the alloys under consideration, it was necessary to test their value in service. Small melts of steel in a crucible, from which test specimens could be made, were insufficient to determine more than physical properties, therefore actual castings and ingots had to be made before the products could be placed in service. Furthermore, to save further experimental work, it was desirable that these heats should be made on a "pilot" basis; that is, actually duplicating regular open-hearth furnace practice. Therefore a one-ton (2000-lb.) acid open-hearth furnace was built. Furnace Design There are no special features in the design of this furnace. Standard acid open-hearth practice is followed, with the reproportioning of the dimensions necessitated by its small size; notably, a considerably increased length in proportion to width in order to get proper flame propagation. After the first heat was made it was found that the check-ers were insufficient. The checker chambers were increased in size and the checker openings were made much smaller. The furnace was started late in March, 1927, and made 65 heats. Experimental work was then stopped unti1, the data accumulated could be worked up and summarized. The run was resumed in November and the furnace is still operating, having made at this writing 60 additional heats. For the last series of runs, there was some rebuilding of both the furnace itself and the checkers. Slag pockets were added. Fig. 1 shows details of construction; Fig. 2, the general appearance. All designing was done by the operating and engineering staff. Construction materials were those available around the plant. The reversing valve is a standard butterfly type taken from an old furnace. The slag pockets and checkers are cleaned by digging down to arched openings which have been bricked up.

By C. E. Meissner

THE need for a practical method of deciding upon new alloy steel analyses to widen its markets was the problem facing the Chrome Steel Works at the beginning of 1927. In addition to determining the physical properties of the alloys under consideration, it was necessary to test their value in service. Small melts of steel in a crucible, from which test specimens could be made, were insufficient to determine more than physical properties, therefore actual castings and ingots had to be made before the products could be placed in service. Furthermore, to save further experimental work, it was desirable that these heats should be made on a "pilot" basis; that is, actually duplicating regular open-hearth furnace practice. Therefore a one-ton (2000-lb.) acid open-hearth furnace was built. FURNACE DESIGN There are no special features in the design of this furnace. Standard acid open-hearth practice is followed, with the reproportioning of the dimensions necessitated by its small size; notably, a considerably increased length in proportion to width in order to get proper flame propagation. After the first heat was made it was found that the checkers were insufficient. The checker chambers were increased in size and the checker openings were made much smaller. The furnace was started late in March, 1927, and made 65 heats. Experimental work was then stopped until the data accumulated could be worked up and summarized. The run was resumed in November and the furnace is still operating, having made at this writing 60 additional heats. For the last series of runs, there was some rebuilding of both the furnace itself and the checkers. Slag pockets were added. Fig. 1 shows details of construction; Fig. 2, the, general appearance. All designing was done by the operating and engineering staff. Construction materials were those available around the plant. The reversing valve is a standard butterfly type taken from an old furnace.

Jan 1, 1928

By Scott Turner

MY YEAR OF SERVICE as president of the A.I.M.E. came at a time when the mineral industry had suffered severely because of disturbed economic conditions throughout the world. The Institute, an integral part of this industry, had been similarly affected. Its membership and revenues decreased; it was confronted by problems of retrenchment at a time when its vigorous operation was especially important to its members, of some moment to the mining industry, and of value to the nation. Throughout the last year, the recession of activity in our industry continued with slight abatement. Your Board accordingly exercised such economy within the Institute as was possible without impairment of essential functions. It endeavored to aid in sustaining the morale of members, their sense of professional unity, and their interest in maintaining research and the interchange of scientific and technologic data upon which the progress of our industry depends. Effort was made to assist in the difficult task of finding employment for needy members; our endeavors have met with some success.

Jan 1, 1933

By Thomas D. West

The occasional reports of progressive furnace-men, giving the results of physical tests to prove the superior qualities of their pig-irons, have encouraged the writer to believe that the time is ripe for the discussion of such work, and the inauguration of some correct system by which the furnace-man and the founder could make intelligent comparison of the elements of strength, deflection, contraction, and chill presented in pigmetal. In most cases the physical tests now made by furnace-men define but one quality in the iron, and are generally too vague to permit any true comparison. For example, one furnaceman tells us he can punch holes in his cast-iron, wishing it to be inferred that the iron is very soft and strong. Another furnace casts a long wedge, the thin end running to a knife's edge, which is supposed to prove the fluidity of the iron, for the founder's benefit. Another casts in square-cornered " chills," to define the hardness or softness of the metal. To the writer's knowledge these tests are not advocated by their originators as suitable for standards; and they are, to his mind, but evidence of unrest on the part of progressive furnace-men, who feel that something should be done in the line of physical tests. The writer knows of no furnace-men who make and keep records of the strength of their iron obtained by means of tests made on recognized standard testing-scales ; but he does know of a prominent furnace-salesman, who, not long ago, came into possession of a 1-inch square bar that stood 1400 pounds

Jan 1, 1897

By John G. Baragwanath

THE September issue of the Engineering and Mining Journal carried an item regarding the Cercapuquio Mining Co. which was mentioned as a large producer of lead, zinc, and cadmium, situated near Huancayo, Peru. The paragraph caught my eye because I had not heard of the property in thirty years and I recollect all too well the circumstances of its accouchement. In 1916 1 was making my headquarters in the town of Huancayo, then the terminus of the Central Railway of Peru, and was examining mines and prospects in that general area for Cerro de Pasco. In the course of my work I became acquainted with an engaging and energetic "practical" miner named Balarin, a Dalmatian living in Huan¬cayo, and made numerous trips in his excellent company. One day Balarin came to the down-at-heels hostelry where I stopped and told me that a Cholo prospector, a character by the name of Jose, had just reached town and claimed to have made a discovery in a little known locality called Cercapuquio. Lead-silver, Balarin said, and showed me a sample of galena about the size of his fist. "Fine," I remarked. "When do we leave?"

Jan 1, 1947

By William Kranz

Discussion of the paper of WILLIAM G. KRANZ, presented at the San Francisco meeting, September, 1915, and at the New York meeting, February, 1916, and printed in Bulletin No. 101, May, 1915, pp. 927 to 930. J. W. RICHARDS, So. Bethlehem, Pa.-At the present time I believe there are 35 electric steel furnaces under construction in the United States, and many more in operation. The United States Steel Corporation, for example, is putting up for one firm a plant of eight electric furnaces. The principal increase in use of the electric furnace at the present time is based on its superiority for making steel for shrapnel and for munitions of war. I understand that electric steel has been found far more reliable and suitable than ordinary steel for these purposes in Europe.

Jan 5, 1916

By J. Nutting, D. H. Kirkwood

The oxidation of lead sulfide in air between 200° and 350°C has been investigated by electron diffraction from thick sulfide films and from galena surfnces. It has been demonstrated that sulfate is the stable reaction product up to 570°C. Sulfate is HAGIHARA has investigated' single crystals of galena roasted in air by the reflection electron-diffraction technique, which owing to the very limited penetration of the beam into the crystal gives information of the nature of the surface only. He has shown that up to 280°C the first oxidation product is lead sulfate, followed by lead mono-oxysulfate (PbO . PbS04). At longer times and higher temperatures more complex patterns appeared which could not be analyzed. All of these patterns were of streaks or spots arising from crystals oriented on the galena surface, and it is probable that these crystals are lead compounds whose structures have not been determined, such as the other oxysulfates (2Pb0 • PbS04 and 4Pb0 . PbS04) or a number of oxides. Certain lead sulfide films, formed chemically, give ring patterns in transmission electron diffraction2 because they are polycrystalline, and should also give ring patterns of the products after oxidation. It was thought that a diffraction study would reveal the sequence of phases produced in the reactions at different temperatures, since X-ray powder patterns are available for many lead compounds. PREPARATION OF FILMS The films were prepared by passing H2S over a saturated solution of lead nitrate in water. Once a silvery film had formed on the solution surface, no further thickening was apparent. The films were transferred by a gauze to a bath of distilled water for washing and pieces of film were caught on small discs on which they were dried. The discs were formed initially on galena up to temperatures of 300°C, followed by oxide and oxysulfates in turn at longer times. The appearance of- these phases is believed to result from an inadequate rate of supply of sulfur to the top surface 01. the crystal. standard Siemens mounts, made of platinum alloy, and had seven 20-p apertures drilled through them. The parts of the film which had dried onto the disc surface were light blue in color, which is the interference color of a film about 600A in thickness. A strong pattern of lead sulfide was obtained in transmission electron diffraction through the apertures but slight broadening indicated a crystallite size of around 200A. Tilting a sulfide film in the beam produced arcing of the rings, increasing the intensities of the (Ill), (3111, and (222) rings and reducing (200) and (220). This arises from preferred orientation in the film, a [loo] direction of the crystallites being normal to the plane of the film. These specimens were oxidized in an oven maintained at the required temperature. The reported times include that taken to heat the film to the reaction temperature. STABLE PHASES FORMED IN OXIDATION The conditions in which various oxidation products of lead sulfide are stable have been considered by the authors in a previous paper.3 It was shown that in a normal atmosphere, taken as containing lo-' atm of SOs, lead sulfate would be stable up lo about 570°C. This was confirmed by oxidizing thin films of sulfide for several days, and the analysis of the transmission-diffraction pattern is given in Table 1. The fit with the patt$rn from X-rays is good, except for the missing 3.62A ring. Some disagreement in intensities of reflections given by X-rays and electrons is to be expected. Up to 570°C a spotty pattern of sulfate was still obtained, indicating grain growth, but above this temperature the film disintegrated. Probably this is associated with the decomposition to PbO . PbS04. It needs to be emphasized that the atmosphere

Jan 1, 1965

By John Johnston

ONLY two of the Institute's 26 Local Sections were unrepresented at the delegates' three sessions, held on Monday morning and afternoon and Thursday afternoon of the annual meeting. The Philadelphia and Wyoming Sections alone sent no delegates. In all, seven hours were spent most profitably in reviewing the work done by the Institute at headquarters and in the field, comparing ideas and practices in varied activities, and in establishing personal contacts. Cordiality and the co¬operative spirit marked the meeting and apparently no one had any serious grievances to air. Four motions were introduced and unanimously passed. The first, which was introduced by B. L. Sackett, was a recommendation by the delegates that a national committee be appointed to cooperate with Local Sections in the matter of student activities, to promote Institute welfare. It was agreed that this recommendation be made simultaneously to the Board of Directors and to the Mineral Industry Education Division. A subsequent resolution by A. M. Smith was passed asking that a part of the duties of this committee be to secure the opinions of Local Sections as to the most desirable methods of interesting students in the preparation of technical papers, by giving prizes or otherwise, and to report their findings at the Section Delegates' meeting next year.

Jan 1, 1933

By DOOLITTLE E. M.

(Canal Zone Meeting, November, 1910.) The following notes are contributed, not with the idea of offering a complete history of the development of this very important process as applied to the Leadville district, but with the hope that the practice, as it was carried out in the Bi-Metallic Smelter, may still be of interest to others. The Bi-Metallic Smelter, at Leadville, Colo., was the first to make a commercial success of the process described in the following pages, which consisted essentially of smelting raw silver- and copper-bearing sulphide ores in blast-furnaces to form a matte, which was generally re-smelted with siliceous ores for a second high-grade matte. Robert Sticht, in his excellent monograph on the subject,1 has outlined briefly the plant belonging to this company. He says, in effect: The Boulder, Mont., enterprise set the example for others with whom the patentee (w. L. Austin) had been negotiating, and the old La Plata lead-smelter at Leadville, Colo., was fashioned into a crude, temporary experimental plant for the Bi-Metallic Company, and the feasibility of the process demonstrated by a trial run. Subsequently, the plant was considerably improved, and, being supplied with very favorable ores, continued to run without interruption from August, 1892, to June, 1893. In September, 1893, smelting was resumed in a completely remodeled establishment, some $200,000 having been expended upon the new work. Thus, aside from the Montana experiments, which, under the direction of W. L. Austin, began as early as- 1885 2 at Toston, and continued with indifferent success for six or seven years, the Bi-Metallic plant at Leadville may be said to have * Formerly Superintendent, Bi-Metallic Smelting Co. + Formerly Chief Assayer and Chemist, Bi-Metallic Smelting Co. 1 Modern Copper Smelting, E. D. Peters, 7th ed., p. 415 (1895). 2 Trans., xvi., p. 259 (1887-88).

Dec 1, 1910

By Earl R. Parker, Ralph Hultgren

DURING the past year publications in physical metallurgy have not been abundant when compared with the output of prewar years. Nevertheless, some noteworthy contributions have been made to the literature. Because of the necessity for war production, much of the metallurgical effort has been directed towards the solution of problems of production processes. The limited amount of time devoted to other problems is reflected in the small number of papers devoted to nonapplied research, though a few excellent contributions have been made to the fundamentals as will become evident in the following pages. Results of many of the government-sponsored research investigations have been released to the public and are being published in the technical journals. Many more of these papers may be expected to appear in the 1946 publications.. Public distribution of information obtained in the course of these investigations should be of great value to American industries in the postwar era. Continued activity in research of all kinds is apparently assured because of intense

Jan 1, 1946

By Robert Job

Up to five years ago the pig-iron used by the Philadelphia & Reading Railway Co. had been obtained solely upon the appearance of the fracture; but as the service was unsatisfactory, an investigation was made to determine the quality best adapted

Jan 1, 1905

By T. W. Beck

Roof bolter occupations in underground coal mines continue to experience overexposure to respirable dust. One potential source of dust in roof bolting operations is the exhaust from the roof bolter dust collection system. A wet exhaust conditioner (water box) has been developed to reduce dust emissions from the exhaust of the vacuum dust collection system on roof bolting machines. The exhaust conditioner consists of a muffler chamber and a water chamber with four internal partitions to direct airflow over the surface of the water. The National Institute for Occupational Safety and Health conducted a series of laboratory tests to assess the respirable dust capture ability of this device as compared to the standard exhaust muffler. To determine the dust collection efficiency, both devices were placed in the exhaust stream of a simulated roof bolter dust collection system. Gravimetric samplers were operated upstream and downstream of the exhaust conditioner and muffler to evaluate the ability to capture both respirable coal and limestone dust. Researchers observed a 41 % reduction in dust concentrations for the water exhaust conditioner in the laboratory configuration. Significant levels of dust deposition in the sampling chambers may have contributed to this effective capture rate.

Jan 1, 2012