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Pasminco is actively addressing the optimal utilisation of the known orebody at the Broken Hill mine, in addition to actively exploring for economic mineralisation in the region. As part of the policy of better utilising the known mineralisation a major upgrade of geological systems at the mine was initiated. The software chosen for this change was Maptek's Vulcan, mainly because of the ease of use of this package. Rather than having numerous data sources in varying software packages the mine aimed to limit interfaces and packages. The decision to upgrade the mine's software was not taken lightly, especially in view of the inature stage of Broken Hill mining operations. However, the current mine life of Pasminco Broken Hill mine is I I years, which is longer than many new mines setting up in Australia today. Also, a more sophisticated system brings with it a better understanding of the economic mineralisation, possibly extending the mine life further. The process of moving the Broken Hill databases into Vulcan was a huge task which included, database transfer, digitising, wire framing, modelling and eventually ore resource calculation. To ensure the validity of the new ore resource accounting system, the existing system was run as a duplicate for the introductory year, providing a comparison and if necessary a safety net. The benefits of such a change, however, became apparent almost immediately. Area geologists realised the opportunity to revise geological interpretations in their areas of responsibility, enabling them to obtain a better understanding of orebody morphology. Three- diniensional analysis provides an excellent method by which review of ore targets both in the underground and mine lease exploration areas can he made. As each new find of mineralisation enters the system and hopefully extends the mine life, the opportunities for further mineral exploration in Broken Hill area by Pasminco are enhanced.

Jan 1, 1997

By Douglas M. Smith

The town of Tayoltita, Durango is located at the bottom of the 2000 m. deep Rio Piaxtla canyon on the axis of the rugged Sierra Madre Occidental mountain range. Throughout most of the year access to the town is restricted to travel by mule or STOL aircraft. Silver and gold have been produced from epithermal veins in the north side of the canyon since 1757. During the last seventy-three years more than 4,588,000 kg. of silver and 76,322 kg. of gold have been produced from approximately 6,000,000 metric tons of ore. The Tayoltita mine is developed within a fault block bounded by normal faults which strike north-northwest and have opposing dips. A thickness of at least 1300 meters of late Cretaceous or early Tertiary volcanic rocks is exposed in the mine. These range in composition from andesite to rhyolite. Andesite predominates in the upper 750 meters of the section. The volcanic rocks were passively intruded by quartz-monzonite and andesite stocks during middle (?) Tertiary time. Mineralization spatially and temporally (?) related to the stocks occurs along the east boundary fault and in intersecting footwall fissures which strike east-west and northeast. Ore was deposited over a vertical range of up to 600 m. prior to tilting of the volcanic rocks 35 to 45° to the east. With few exceptions, the ore bodies are found within the lower 400 to 500 m. of the andesite. Argentite (acanthite), stromeyerite, jalpaite, electrum and native silver are the principal ore minerals. They occur in gangue composed of one or more of the following: quartz, calcite, bustamite, adularia, chlorite, and albite. Base-metal sulfides make up less than 1.5 percent by weight of the ore.

Jan 1, 1974

By T L. Horsley

This paper deals with the drilling and blasting methods employed at the Cassiar mine, which is located just south of the B.C.-Yukon border. It covers both the "pit" and "peak" mining operations. Specific problems, such as working in frozen ground, are discussed, and the breaking characteristics of the various rock formations are outlined. The paper concludes with a brief mention of the equipment used in the operation, as "~ell as an outline of the breaking costs. Introduction T HE Cassiar asbestos mine is located just south of the British Columbia -Yukon border high on a spur of McDame mountain. Chrysotile asbestos fibre occurs in a faulted enlargement of a serpentine sill lying conformably be-tween a series of sedimentary beds and volcanic flows which dip at 45 degrees into the mountain. One end of the orebody is eroded by a cirque in which a layer of permanently frozen ore and waste talus lies at the end of the mining benches. The topography at the mine is steep, with no flat areas. Roads, dumps, and areas for crushing,

Jan 1, 1965

Viable domestic mineral industries are essential to the economic health of the United States and the well-being of its citizens. The charts in this publication reflect developments significant to the Nation's mineral industries during 1975. Last year was a year of reduced activity for the Nation's mineral industries. Although the value of the country's total mineral output rose, for example, the overall production and use of many minerals fell. At the same time, the industry experienced lower profits and higher debt/equity ratios. These and other adverse effects on many segments of the Nation's mineral industries resulted from the overall decline in domestic and international economic activity.

Jan 1, 1976

By John Mathews

CERTAIN physical and chemical properties of copper are so intimately related that a change in variation of the physical properties indicates a certain chemical change. The standard specifications of copper of the American Society for Testing Materials are based upon physical characteristics with one exception, namely, the copper contents. The physical standard includes electrical properties, defects in the "set or casting," variation in dimensions, weight, etc. Paragraph 4 of the specifications states, " Wire bars, cakes, slabs and billets shall be substantially free from ;shrink holes, cold sets, .pits, sloppy edges, concave tops, and similar defects in set or casting." Shrink holes and concave tops indicate both physical and metallurgical defects; cold sets, sloppy edges, etc., indicate physical defects only; small pit holes may be indicative of either or both physical and metallurgical defects, depending on conditions under which they originated. To the refiner, a copper casting, no matter how made, is known as a "shape," irrespective of whether it is wire bar, ingot, cake, slab, billet, etc. As practically all shapes are cast in an open mold, that is a mold without cope, the surface of the shape cools in contact with the atmosphere and has a coating of oxide. Certain phenomena of the surface indicate the adaptability of the metal for forging or rolling. The writer believes that it is much simpler to produce shapes that are metallurgically correct than those that are mechanically satisfactory. When copper is to be rolled into thin sheets or drawn into very fine wire, the slightest physical defect becomes evident. It is, therefore, of the utmost importance to, consider every characteristic of the shape and ascertain the physical and chemical relationship. Pitch and Set.-The appearance of the surface of the copper when cooled is considered as to its "pitch," or the general contour of the surface of the shape (which may vary from a concave to a convex); and the "set," or the detail appearance of the surface of the shape (the wave-like struc-

Jan 2, 1920

By H. M. Chance

WITHIN the last 10 years the subject of mine taxation in its relation to coal-mining interests has come to have growing importance, not only to those engaged in the mining of coal, but also to the owners of land underlain by coal. A disposition has developed among legislators to accept the principle, which has been laid down y many judicial decisions, that coal underlying the surface must be regarded as a part of the real value of all properties so underlain, and as such is chargeable with such burdens of taxation as the necessities of the government may impose. These necessities arise from the normal expense of maintaining State and local governments, and in the past have been met principally by, taxes based upon assessments of real estate values, which values in many cases have been confined principally or wholly to the value of the surface, without taking into consideration the value of minerals underlying the surface. It is not proposed here to deal with the question of Federal taxation, whether levied on production, or on products transported from one State to another, or exported from the country, or upon thegross or net earnings of corporations engaged in interstate commerce, or upon the production of materials which may be transported from one State to another, or levied. upon the profits or upon the obligations of corporations. The present discussion will be confined to the appraisal of coal lands as assessed for State, county, township, or borough taxation. The methods heretofore and at present in use in the different States vary widely and have resulted in more or less litigation. Discussions appearing from time to time in the technical and trade journals and in the proceedings of mining and engineering associations frequently direct attention to the need for the adoption of fixed principle in levying taxes, and of uniform methods for applying such principles, but there does not seem to be a general demand from the public for the adoption of such methods.

Jan 7, 1914

By CHAS. A. R. LAMELY

In the extreme northeast corner of the State of Washington, on the Canadian border, lies the Metaline mining district. This district is old in history, but young in production. The Metaline district is a zinc-lead area of the replacement type in dolomite and limestone. The ore bodies of the Josephine horizon are in many ways similar to the ore bodies of the famous Tri-State zinc fields. The beds are faulted and folded and have varyng low dips in varying directions, and underlie large areas of the district. Production started in 1927 on a very limited basis. The property is now mining and milling 700 tons per day. The mine is opened by adit tunnels and a vertical shaft. As the ore horizons gained depth, it was necessary to sink inclines to follow the ore horizon (see Fig 1). From 1927 to date, approximately 600,000 ft of diamond drill was put down This work indicated that sufficient tonnage existed to justify a redesigning of the whole operation, surface and under- ground. After four years of general study, the following program was planned :

Jan 1, 1949

By R. G. Warncke, J. H. East, D. Harrington

The mining industry of the United States has long been severely criti- cized because of its high rate of accident occurrence, not only as compared with other industries of the United States but also with the mining industries of other countries, particularly Europe. Statistics, often not strictly com- parable, indicate that the accident-frequency rate in all mining is currently about three times and the accident-severity rate is about seven times as great as the average for general industrial work in the United States. These fig- ures are by no means comforting to humanitarian mining men, irrespective of their status in the industry, and they constitute a challenge that certainly cannot continue to be ignored much longer. The picture becomes much darker when the above statistics are augmented with data indicating that on an exposure basis our mines (more particularly our coal mines) have accident rates two, three, or even more times as great as more or less similar mines in Europe, particularly England, Wales, Belgium, France, and Germany. The sting is alleviated to some extent by the knowledge that our coal mines produce about 4 to 5 times as much coal per man day as is produced in at least some European mines. However, all of these foreign acci- dent statistics should be analyzed carefully before we become very much con- cerned about them, because they are not strictly comparable, for several reasons, not the least of which is the fact that foreign methods of compiling or recording accident statistics often differ materially from ours. Moreover, foreign mining and other conditions are definitely dissimilar to ours in many phases, and numerous other factors affect the comparability of foreign mine- accident statistics with those of the United States. Unquestionably, it should also be taken into consideration that the accident rate of the 140,000,000 or more constituting the populace of the United States as a whole is much higher than that of any other major country in the world and is two, three, or more times the rate of the European countries that have more favor- able mine-accident rates than those of the United States (table 1). Moreover, it is significant that the mine-accident-severity rate of British mines is about six times the average accident-severity rate of the major industries of the British Isles, or but little more favorable than the comparable figures in the United States; namely, that mining has an accident severity rate about seven times the average of about 30 of the major industries of this country.

Apr 1, 1949

By A G. Grice

WMC Resources Pty Ltd û Copper Uranium Division operates the large underground Olympic Dam Mine at Roxby Downs, South Australia. These operations mine and process the ore to produce refined copper, uranium oxide, gold and silver. In mid-1996, the company committed to the Olympic Dam Expansion Project (OEP) to expand production from 3.0 million tonnes per annum of ore (85 000 tonnes per annum of copper metal) to over 9.0 million tonnes per annum of ore (over 200 000 tonnes per annum of copper metal). Along with the increase in the ore production capacity of the underground mine and the surface ore handling and processing facilities, expansion of the backfill system was required. The target backfill placement rate was 2.0 million cubic metres of backfill per annum which was to be predominantly delivered as cemented aggregate fill (CAF). This paper discusses the engineering activities undertaken to assess and change the method of designing the required strength of fill exposures. In addition, the operational changes that were introduced to achieve the required fill quantities and the mix designs to meet the specified strengths, including the use of alternate binders, are discussed. This work resulted in a large increase in the fill placement rate and a reduction in the overall unit cost of fill.

Jan 1, 2000

By Charles M. Brinckerhoff

The Potrerillos mine of the Andes Copper Mining Co., a subsidiary of Anaconda Copper Mining Co., is 100 miles east of the coast town of Chanaral, in the Province of Atacama, Chile. In December 1926, the plant was placed in operation and has operated continuously ever since. Block caving is the only mining method used, as it is especially suited to the grade of ore, the position and shape of the ore bodies, and the character of the ground. At the present time there are three haulage levels, which handle oxide and sulphide ores, and production from them averages 31,000 short tons daily. The purpose of this paper is to describe the layout, equipment and systems used on the gathering or main haulage levels. Haulage Layout Because of the shapes of the ore bodies, their distances from the dumping pockets

Jan 1, 1946

By W. A. Jones

THE Ross mine, a subsidiary operation of Hollinger Consolidated Gold Mines, Limited, is situated near the north end of lot 1, concession 2, Hislop township, Ontario. The property comprises the north half of lot 1, concession 2, and the south one-third of lot 1, concession 3. It is readily reached by a good motor road from the village of Ramore, 7.5 miles to the southeast on the Temiskaming and Northern Ontario railway. The-mine has been developed to a depth of 900 feet and the current daily production rate is about 260 tons. From the inception of operations in March, 1935, until December 31st, 1942, 455,720 tons of ore with a total value of $4,169,-316 have been milled. The silver to gold ratio of 1.48 to 1 is unusually high for Ontario gold mines. The deposit is interesting because the relationship between hydrothermal metamorphism and three successive stages of fracturing and mineralization is marked with considerable clarity. During the past seven years, detailed geological maps of the mine have been kept up to date, many thousands of feet of diamond-drill core have been logged, and numerous thin and polished ore sections have been studied. The present paper describes the structure and mineralogy of the orebodies.

Jan 1, 1944

By John C. Branner

Stratigraphic Position of the Deposits.—During the progress of the geological survey of Arkansas, in the northern part of that State, it was found that the interval between recognizable Lower Silurian rocks below and recognizable Lower Carboniferous rocks above contains no representatives, or but poor representatives, of the whole Upper Silurian and Devonian series. In some places one passes in the space of a foot from Lower Silurian rocks to the Lower Carboniferous—the Boone chert of the Arkansas survey, or the " Burlington " beds; at other places this interval is 3 or 4 feet thick, but it is generally concealed by the ready decay of the black shale—the Eureka shale—which fills it, so that for a long time it was passed over undetected. It was only after considerable work in the region lying north of the Boston mountains, and by the valuable palzeontologic work of Dr. Henry S. Williams, of Yale University, who kindly accompanied me on a trip through this part of the State, that the importance of this interval came to be recognized, and the thin beds occupying it to be critically studied. It then appeared that this interval was occupied, for the most part, either by a greenish or black shale or by a sandstone; and eventually the sandstone was found to have a maximum thickness of 40 feet on South Sylamore creek in 15 N. 11 W., Section 21. It was, therefore, called Sylamore sandstone. The shale of this interval is generally from 3 to 10 feet thick; it is a constant feature of the geology through Carroll county, and is well exposed in the streets and cuts in and about Eureka Springe, and was for this reason named the Eureka shale. Its maximum thickness is 50 feet in the northwestern part of Benton county. The relations to each other of the Sylamore sandstone and the Eureka shale I have never determined satisfactorily; for

Jan 1, 1897

By W. H. Langer

Around the beginning of the 20th Century, annual aggregate production in the United States amounted to about 50 million short tons. Today annual aggregate production is nearly 2.5 billion tons. Over a third of the States in the country produce more aggregate than the Nation did at the turn of the century. I would like to describe some of the historical events that allowed this nearly 50 fold increase in aggregate production. You might wonder why I want to talk about history. Some of our best ideas lie buried in the past, waiting to be rediscovered in the present. Almost every issue that the aggregate industry experiences today has been recognized for at least a decade; many of those issues have been recognized for a half a century; and a few of them have been recognized for nearly a century. The main reason for this article is to save the past from the forgetful indifference of the present-to faithfully preserve the past, to illustrate the insights of our predecessors, and to demonstrate how little of what we know today is really new.

Jan 1, 1998

By D. D. Campbell

The Hat Creek coal deposit s occur within folded and faulted Tertiary (Eocene) strata of the Coldwater Group, which comprises weakly lithified shales, siltstones and conglomerates underlying the floor and lower flanks of the valley of Upper Hat Cr eek . This upland valley,16 miles in length and 2-4 miles in width, is located within the eastern foothills of the Coast Mountains, 120 miles northeast of Vancouver, approximately midway between the towns of Lillooet and Ashcroft, in the Interior Dry Belt of British Columbia . Most of the valley floor is covered by till and glacial outwash deposits ranging up to 500 feet in depth. Became of this overburden cover , the majority of the data on the coal deposit have been obtained from diamond drilling done during 1974?76 by the property owner, B .C. Hydro and Power Authority. Because of the limitations imposed by the lack of out crop, the Tertiary geology at Upper Hat Creek is imperfectly known; however, it appears from correlation with other coal-bearing Tertiary remnants in the southern interior of the province that these remnants, including Upper Hat Creek, may represent preserved segments of the western shoreline of a Tertiary continental sea along which deltaic swamps developed and were sustained for unusually long stable periods, giving rise to the world's thickest known coal beds.

Jan 1, 1977

By L. A. Wright

Union Carbide Corp.'s Pine Creek mine in California is the largest known tungsten deposit in the West, and the producer of well over five million tons or ore to date. Located 21 miles northwest of Bishop on the eastern slope of the Sierra Nevadas, the mine is also a source of molybdenum and copper and it was the quest for the molybdenum which caused the mine management to undertake a pillar recovery program. GEOLOGY For a full discussion on the geology of the Bishop tungsten district and the Pine Creek mine, reference is made to Special Report 47, Calif. Div. of Mines. The deposit lies along a 3000 ft segment of the contact between quartz monzonite and the marble that flanks the west side of the north portion of the Pine Creek pendant. All the components of a typical contact metamorphic tungsten deposit are developed; these consist of tactite, light colored calc-silicate rock and quartzose rock.

Jan 5, 1964

By Staff

The Tetreault mine, operated by the British Metal Corporation (Canada), Limited, holds a unique position in Canadian mining, being the only steady producer of zinc in Canada east of the Rocky mountains. Its importance in Canadian zinc production may be gauged with some accuracy, since, in 1927, it was responsible for over 13 per cent of the zinc output of the Dominion. In addition, it also made valuable contributions to the production of lead, silver, and gold. Location: Situated in the foothills of the Laurentian mountains, 600 feet above sea level, 20 miles from the St. Lawrence river, and 52 miles due west from the city of Quebec, the property is in the township of Montauban, county Portneuf, Province of Quebec, as shown in Figure I. The municipality of Montauban, immediately adjoining the mine, has a permanent population of 700 people and is six miles by road from Notre Dame station on the main line of the C.N. Rys. between Montreal and Chicoutimi-Notre Dame being n6 miles by rail from Montreal. Connection by 19 miles of dirt-and-gravel road with the Provincial highways' system of Quebec Province, the city of Quebec, which is distant 78 miles, can be reached by automobile in less than three hours, while the distance to Montreal by road is 16o miles .

Jan 1, 1928

By D. W. Loughridge

INTRODUCTION Raising capital in the 1990s is a timely subject. However, many of us thought why should raising capital in the 1990s prove to be unlike it was in the 19805, the 1970s, the 1%0s, or earlier? There are a lot of creative people in banking and in corporate treasury departments. New tools and techniques are continuing to emerge, many of which are discussed in other papers in this book. While we have new financing tools at our disposal, the underlying issue has not changed. Projects and investments must be judged on their own merits. If they cannot be justified by conventional financial analysis, they should not be built. If they can be justified, it is likely that the financing will be available. The challenges faced in raising capital in this decade will persist to the next. The issues of the 1980s -- currency fluctuation, disruptive merger and acquisition activity, commodity price volatility, political risk, and debt crisis -- will all persist in an increasingly international business environment. I will focus on the financing we have just completed for the Escondida Copper Project in Chile. The Escondida financing is structured along the classic project financing model developed in the late 1970s, but it deals with issues of the 1980s and the 1990s. The financing was intriguing, not just because of the technical issues involved, but also the challenge of reaching an agreement in a large and diverse group. Escondida had the one essential feature that made its financing possible. It was commercially very attractive. It would produce at low cost a commodity (copper concentrates) that direct consumers felt would be in tight supply. The project had the direct support not only of its sponsors, but also its customers, and, very importantly, its host government. The non- recourse financing of Escondida would not have been possible without the support of these parties, and without the robust economics that made this effort worthwhile. The issue was more complicated. Operations in all parts of the world entail some political exposure. This project is in Chile, where there was a constitutional requirement that a plebescite be held when the project would be in its early stages. This plebescite would determine the fate of a 15 year old military dictatorship. The project is copper, a commodity generally deemed to be in surplus. Copper has a history of price volatility (whose price has varied from $.58 to $1.53 per pound over the past two years). It is politically sensitive, not only in Chile, but in the United States, Canada and other developed countries. The project is international, with all the problems of dealing with a variety of currencies, a variety of cultures, and a variety of laws and commercial practices. The project is also large and capital intensive, with a total cost of U.S. $1.1 billion. ESCONDIDA PROJECT Escondida, the largest known copper ore body in the world, was discovered in March of 1981, by Utah International in a joint venture with Getty Oil Company. In 1984, both Utah and Getty were involved in ownership changes, Utah being acquired by BHP. A later restructuring of the ownership of Escondida resulted in BHP, as manager, carrying a 60% interest, Rio Tinto-Zinc Corporation (RTZ) 30%, and a consortium of Japanese companies led by Mitsubishi Corporation with 10%. The Japanese consortium is incorporated as JECO (Japan Escondida Corporation). This ownership structure, which spread ownership around the world, was the first tangible step toward managing both the commercial and political risk associated with the project.

Jan 1, 1990

By C. O. Stee

Introduction The property of Siscoe Gold Mines, Limited, is located on an island of three hundred and forty acres in lake Kienawisik, about fifty-two miles east of Noranda and forty-three miles south of Amos, Quebec. Lake Kienawisik is a part of the Harricanaw drainage system and is crossed by the main line of the Canadian National railway at Amos. This waterway is navigable for boats with a draught of six to eight feet. Diesel engines have been the source of power at the property since milling operations were commenced in January, 1929. The power plant as first designed and built was for a milling capacity of 100 tons. Two Polar-Atlas units, each of 200 h. p., comprised the original installation. With the growth of the 'mine, more engines were added until, at the present time, there is installed at the Siscoe what is rated the largest Diesel plant at any mining property in Canada. Definition of a Diesel 'The Diesel engine is an internal combustion engine which works with liquid fuel introduced after, and independently of, the air charge at a time when communication between the cylinder and the outside atmosphere is cut off, and which ignites the fuel by compression-beat and stored combustion-heat unassisted by heat sources outside the cylinder itself while the engine is in stable operating condition"(1).

Jan 1, 1934

By Wm. Hamilton Merritt

IN this paper, which I have the honor to submit to the Institute, it is my intention to treat especially of that part of the North Staffordshire field which converges to a long tongue in the neighborhood of Congleton, and which includes the villages of New Chapel, Ford Green, Norton, Biddulph, Bradley Green, Gillow Heath, and the immediate vicinity. My object is not so much to give a minute description of the geology or systems of mining and smelting, as by a general review, some idea of the extraordinary facilities for the production of excellent iron, which have enabled this district to maintain its position more successfully than any of its rivals against the late depression in trade. The North Staffordshire coal field has the Cheshire and Lancashire fields some thirty-five miles to the north, those of Derbyshire and Nottinghamshire forty miles to the east, those of South Staffordshire and Shropshire, about thirty miles to the south, and the Denbighshire and Flintshire fields some forty miles to the west. It is highly probable that the coal continues under the new red sandstone to the Western and Southern fields as the dips on both sides, and absence of large faults, make it impossible to come to any other conclusion. In a section of this coal field, from Chatterly to Whitfield, thirty-two workable seams of coal are shown, of an aggregate thickness of 130 feet, varying from 2 feet 6 inches to 7 feet, and thirteen seams of ironstone, 24 feet, averaging from 2 to 4 feet. All of these seams have been minutely described in a paper by Mr. Charles J. Homer, read in 1875 before the British Iron and Steel Institute. In the northern part, to which I especially wish to direct your attention, the beds lie in a V-shaped basin, the underlying millstone grit and Yoredale rocks rising and forming escarpments on either side of the valley containing the coal. Throughout this district, at the outcrop of the coal, there are indications of old workings. A shaft 4 to 5 feet in diameter reaches the coal at about 14 yards from the surface, and from it the coal has

Jan 1, 1880

By Cornelius Kelley

THE American producers of silver are keenly alive to the importance of the silver problem and its vital effect on the mining industry in Montana and other States where precious-metal mining constitutes a basic industry. There are so many ramifications to the subject that one is tempted, no matter from what angle an approach is made, to digress along lines that inevitably lead into a maze of social, economic and financial problems, through which no clear pathway is marked, and regard¬ing which no definite opinion can be expressed, as the ultimate solution is dependent upon the policies adopted and carried out by the more important Governments with reference to their fiscal requirements and currency systems. The situation may be summarized in two questions First, what, if any, plan have the silver producers, as being the most directly interested, to offer in meeting the situation which will confront the industry upon the termination of purchases of domestic silver under the Pittman Act? Second, what, if any, assistance can be extended by the Government in connection with the problem? In answer to the first inquiry, while the matter has been the subject of discussion among the principal producers, they have been unable to formulate a defi-nite plan, principally because they have been and are dealing with a subject embracing many unknown fac-tors; and second, it has been felt that before any plan is adopted there should be indicated the extent to which cooperation on the part of the Government may be depended upon to enable a proper study of the situation to be made. In order to explain these rather cryptic statements, a general review of the situation may aid. Whatever differences of opinion there may have been in the past upon the subject of bi-metallism or the establishment of a fixed ratio between the coinage value of gold and silver, it will probably be conceded that it would be neither wise nor expedient to attempt a revival of this discussion, nor to undertake to solve the question by the adoption of such a remedy. Issues of contro-versial economics must be avoided, if possible-political economics will destroy rather than assist constructive effort.

Jan 2, 1923