Salt Lake Tribune | 1917-09-29 | Page 4 | Mining Men are Hit by Mexican Decree

IMiHT Bf MEXICAN, DEGREE Gold and Silver Must Be Returned for Ore and Concentrates Con-centrates Shipped -Out. WASHINGTON, Sept. 2S. Mexico has embargoed exports of gold, required that imported gold shall lie delivered for mintage within thirty days and imposed im-posed additional restrictions upon the exportation of silver. Ambassador Bo-nillas Bo-nillas was notified today that President Cnrranza issued the decree yesterday, effective immediately. Importers of silver are required to import 25 per cent of its value in gold. : i EL PASO, Texas, Sept, 2S. By spe- j cial decree, received here, all g"old ; shipped out of Mexico in the form of ores or concentrates must be returned : to Mexico within ten days of its ex- ! portation, and 2.3 per cent of the value , of all silver ore or concentrates must also be returned in the form of gold bars, national or foreign sold coins. The decree was received in code by Mexican Consul General G. M. Seguin and copies distributed to Americans owning mines in Mexico. j Mining men here say it may mean the ; abandonment of plans for rc-opening j mines producing large values in gold and silver and the elosiu down of those now in operation. The decree also prohibits the exportation exporta-tion of Mexican gold or silver coins, gold in bars or any other forms of the metals. The third clause in the decree declares that exporters of mineral ores or concentrates of all kinds having" more than six grams of gold per ton will have to re-import gold in bars for coinage coin-age or in national or foreign coins of equal value to the gold content according accord-ing to the assay. Under the decree exporters of ores or concentrates containing over fifty grams of silver per ton must re-import 23 per cent qf the vanic of these ores in the form of gold bars or coins. Exporters Export-ers must give bond for reimpprtation of the required amount of gold, and this gold -will bo delivered to the mint within thirty days after it is reimported. f reimportation is not made within ten days the bond will be declared forfeited. for-feited. Mining men here said tonight it was impossible to anticipate how great an effect the decree would have upon the mining industry of Mexico. There now j is an embargo against the exportation of gold and silver from the United States and they said this would have to be lifted by means of special licenses before any gold could be reimported to Mexico. The decree also would mean the retention in Mexico of every ounce of gold produced, they said, making it difficult for American-owned com- j panies to meet their obligations in the j United States. They said they would make no effort to reopen their mines until the decree was given a trial.