| Show PLANNING TO SAVE GOLD COINS FROM mutilation AND destruction sacramento calif july 12 minin mining men of the nation looking forward to the twenty sev seventh anth annual convention of the american mining congress in sacramento september to october ath for which the department of mines and mining 6 of the sacramento Chan chamier iier of commence is maki making 1 ng preparations are studying the problems of the enormous enorma us destruction of gold coins the solution of which the conven convention tion is expected to offer in resolutions demanding action by cengr congress ess through the conversion of gold old coins into jewelry and trinkets by melting up 5 10 a and n d 20 pie pieces ces the country suffers a huge loss annually as these coins are minted at the expense of the taxpayers there is at present no penalty attached to defacing or destroying a coin so long as it is not again placed in circulation but the problem of thia the men who produce produce ro duce vie nations gold is concerned with the fact that iligir their product has a fixed price set by the government which never changes and no matter how great the market th the jaw baw or supply and tid demand which governs th the e sale of other corr comm odilie is lt not net permitted to function I 1 I 1 an anti destruction law for gold coins coin is therefore eto to be one of the leading topics at the sacramento ento conven convention tion the attitude of the entire mining industry will be e steps steps taken to enlist support for foi such a bill bili in ill congress the cost of minting 11 1 1 uld coin ie i borne by the tax pavers bavers said se secretary cretaro J F Call gallbreath breath of the mining congress in a speech at a ra recent cerit conference of mining men at grass valley california it would be perfectly right for the government to say you bring in your gold certificates and well pay you in gold coin but it is not bullion we ought to make it unlawful to destroy coins this would not destroy the gold standard nor would it destroy the market for gold william J lorin loring b former president 4 of the mining congress and gold mine operator on the mother lode in california also believes something 6 should be done to prohibit this drain on the count rys supply of money we need a bill that would bar the sale of gold Z old by the government for use in the arts he said let these people buy in the open market the same as any other commodity m is purchased that will stabilize the market and bring the law of supply and de demand mand into play gold is the only commodity that is held at a fixed price maintained by the government constantly |
