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Show EEKLY jEWSPAPEF VOLUME J. DEVOTED TO THE JAlNlHG nTERESTS OF THE EST. SALT LAKE CITY, SATURDAY, DECEMBER 18, 18S0. A GOLD AND SILVER CURRENCY. THE MINING LAW, At ;i meeting of the New York Bullion Club last week the following resolutions were adopted: Whereat, It was the intention of the framers of the Resumption law to withdraw the small notes from circulation when specie payments were resumed, as is shown by the provisions to thateirectin the resumption act itself ; and, Vhercat Secretary bherman has seen lit to increase the one and two dollar notes, while the national banks were withdrawing their is- Under the act of May 12, 1872, section 2Iiln, revised statutes, the annual expenditure for improvement was due within each year, commencing with the date of the location except in regard to claims located prior to the enactment of that law, the annual expenditures upon which were made due by Jan. 1, 187o, and annually thereafter. The purpose of the amendatory law of Januaiv 22, 18S0, was to secure a uniform period within which the annual expenditures should be required on all locations, and it provides that such period should commence on the first dav of January succeeding tlie date of the location of each claim. It follows therefore that a claim located October 1 1870, requires the expenditure of one hundred dollars worth of labor or improvements there-- ; on within the calender vear ot 1SS0, and that whatever mav have been expended during 1871) will not answer the requirements of ex . penditures in 1880. It also appears, lv reason ot the changemude 111 the requirements of the act of Mav, 1872, bv the nmcndatorv law of last January, that claim located on anv date subsequent to the first dav of Jannarv 180,1 requires no further expenditure during tlie re-- , niamder of that vear than is made necessary hv the local laws" sues for it seems that since the 1st of January, 1870, 4.2151, 025 national bank notes of the denomination of one and two dollars have been canceled, while within the same period o,o( 5. f7i) greenback notes of the same denomina lion were issued to till their places; and, VhertHix, It is desirable, from every point of view, that the United States, as a bullion pro ducing nation, should use its monev metals in retail trallic, as do other commercial nations, suit, together with the fact of the greatly improved qualities of the refined metal, demonstrated that the phosphorus had very effectual v done the work intended ; and the procedure bids fair, if these statements may bo relied upon, to assume an important position in the metallurgy of copper. A WESTERN STOCK SALE. They have their Stock Exchange and Mining Board in Magic cities of the far West, ami their own peculiar way of doing business. Buyers and stockholders also have their own peculiar ways, and these ways sometimes clash. A New Yorker was M 111,111,1 office in Gunnison City ",,e. dav not '"".B ago, when a Rrmlv- looking old chap entered and asked if that was the place where thev- sold shares of tin ' u1 llsu, lute Horse Mine. silver Bein' assured that t J 1 1 NUMBER IS. i . -- the ofhee he observed : Ive heard the While Horse spoken of as lie was in which are not bullion producing; therefore, being a likelv mine. AVWtW, That the Bullion Club, represent,17 ceitainlv is. We took 10,000 worth of . not 1. ing only the mining but the general financial interests of the country, respectfully call ..n,new p7li must he old richness , IIow upon the President of the United States and many men have -you got to work the Secretary to make the following recoin Uli, about three hundred. mendations to Congress. 1. The gradual Have though ( Are the sheers goimrofI withdrawal of all paper money, national or lo. pm t licly I cal, of less denomination than 820: the canShares are selling like hot cakes, and we celled notes to be reissued in larger denomina1ijve only a few left. Everybody says tlie tions, sous not to cause contraction. 2. The White Horse is a big investment. coinage of eagles, half eagles and quarter; What are sheers worth eagles ill the place of the useless and cumhei! The following process, reported from Her- Vldll soli vou lit do tlioiHi I know' thev double sonie eagles, into which nearly all of many, promises very important results. Thowj he worth face value our gold bullion is now converted, the object of commerce, which is largely pro- No! You dont reallv mean do oipper to well utilize our as as our silver! M gold being do. diiced hv reduction lrom the ores ot that met-- . .1. till lion in coinage. he asked to (.ougress so as to induce the banks to keep their legislate legal reserves in coin instead of greenbacks. 1. The reserve of gold and silver in the tn t u c u ti ll thu e is a dollar .... ........ .v ...r.w , .ujnjm income up the cnerRcuo a.bmty wbidi pbosplm- - ,,,,,,,, Kl anl Oliver for overy rwii back dollar is-- ; sIOotillI, ; tlltm n. 1 lu sued by tbe Rovcriiniciit. lie to known have lor oxy-cexper- ,K,,rs h.ls ri reasury to nis is o0 win ivi. Tlllt l issue sold and silver certificates upon Hie do- trials, lirst made upon metallic copper mv m,, ,MS ,,.u.k lmv nK! j7, r nullinii ol with tbo ox-were m tliat now its ratio betiiR form, nils pbospb, elementary posit the sbeers.'aml now let (mt,it lK,silll.s- to to ho as tmiinl lictwccn hut the standard American dollar results; very satisfactory tsting me S(1(, (1(,or 0f youl. U)IU,V and gold. (. A new mint to he crcctcl in the the use of phosphorus in this way was found .qlP sjr w -New of York be to belli It wasteful for the and accommodation daiiReions. of' city was; hiss out tbo cash said tbo old man as lie tlie importers ol lorciRii bullion, who arc now sunse.piently deeuled to employ a cempouiKl r,.sU., (1L, ,.I1( (,fhjs slu, f (m tlll, ,1( h without proper facilities to convert the same phosphorus, and lor this purpose the phosphide tjK. into American coin. selected, of. coppe- r-, r pbospbide copper-- was Tlie companv laid left bis revolver in his . 1 all to have antici- - overcoat outside, and be didnt believe hV i'"'1 surpassed tbe PRECIOUSMETALS, Dr. Koesslcr. the Xuw Yorkers would shoot for As ,lembc,l by him. jliliuii. ; 1 ! 21 i 1 h to-da- ? y j to-nion- ! 1 1 1 - , n 1 i I iini-nta- 1 Hes , (, ; j i ! - i , i j ; i - - - survey of our hundi square miles of gold i possible over production w oi Id s needs and mean: ..... - I a1 After a 1. -- I A , ne laner coum oe oeiore its anuuion. remote as to he utterlv uuworthv a readilv broken oi with blows of the hammer, Ji Vm thought. m. United States is now the rentet.- ioli vi.rckci ni one direction winle the former io m ci o piccious iiut.1 Is, lelding annually (.ol,i(i only he broken iifter repeated bendings oeail v as much as all other countries combined ; t0 UII(1 ,n; ln a wor,i the metal possessed a am it is safe to say that a judicious investment (oll,rllu.ss whieli was .inite astonishing. The; o u mu ph capital of our country as work-salmon-refracture was hacklv, of color, and m loi mu would metal i.ipital, mines, piccious which is characteristic of clicmic-not only furnish enough real money to satisfy sjkv' uster, pure copper, and contrasted strongly with "iir "inflationists, hut would make our nation ally that of the other sample, the fracture of which die financial monarch of flu? world. that of the refined copper of commerce, The specific gravity of the original metal was The report made for October of Pacific (oast 8.7.1, and that of the metal alter treatment mines shows that thirteen gold mines yielded S.fKH). An examination of the two metals for 'i l.oOO, and thirteen silver mines $5101,2075, oxide showed that the commercial metal con;md four gold and silver mines tained .15)0 per cent, of oxygen, and the metal 12.yi(H)t a from thirty mines of 1,W1,20M. refined by phosphorus .012 per cent. This rc- - Ii 1 v so ; 1 1 i- . .1 :.i s, ....... .'o' umn t iiolu tluin oni. v,,, - u .ii vr., u.iy , Vlf 1 me lni i.ue - : ,r 1 tol!'1 - , !? J 1 d ; 11 1 nu r 11101c and CH'x. of silver dollars up to Nov. 17 Jot), of which only 82o.2f- 'hvulation. J he effect of the silver h Pd to current use IT,( SN.7 (infgc .o.S r,,n M,1.d part certificates, which is doing 'llm dian it L commonly credited with. s two ' . thirds of this amount has been put into 1 Kill-wa- i j to-,;- d H ,!ls 1 . . circulation during the past year. Tm: British government assnyers appointed to examine ore from India, supposed to contain gold in paying quantities, have returned adverse reports. |