Show GOLD COMMITTEE recommends washington jan 5 elimination of the excess profits tax on gold mining and the privilege of free exports and of the sale to manufacturers as means of stimulating gold production were recommended in a report of the special committee appointed appOint edby by secretary lane to investigate the causes of the decline in the output gold mining has been seriously injured by the war said the report and has been discriminated against for the protection and benefit of the treasury in that the export of gold and even internal free trade in the metal was interrupted the chief cause given by the committee for the tha falling off in output was the increase in operating costs from 57 cents for a dollars worth of g gold old in 1917 to 70 cents in 1918 the present decrease in gold production is serious said the report as the maintenance of a sufficient gold reserve is essential to our national finances and credit possible methods of maintaining the visible gold reserves the committee said would be in the curtailing of the use of gold for manufactures and in a call on the public to turn in hoarded gold further relief might be obtained it was said by amending the war mine minerals bill to include gold and the voting of an appropriation to be used in directing the search for now new deposits in this connection the committee declared that the future of gold mining in the world was problematical that the gold output of the world seemed to have passed its zenith 11 |