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Show resspra&ssRs: fcssrtSUP 'ZZZZ A MAI THE CITIZEN Weekly Mine And Oil Review EUROPE IS GREATLY IN NEED OF WHITE METAL . .r .. i Perhaps there Is no question which more greatly affects the future of European finances and industry than the stabilization of the monetary systems of European countries, says the American Mining Congress Journal. If it were possible to make available a supply of gold upon which to base an ample credit currency that would be the ideal solution. As it is, however, with the United States holding 40 per cent of the total monetary stock of gold in the world, with the worlds gold production fall-ing below the prewar production level, with the present upward tendencies of price levels adding to the already prohibitive production costs of gold standing as a bar to increase gold production throughout the world with the present world inflation and the necessity of larger volumes of currency because of the higher prices and increasing volume of business, it seems apparent that many of the European countries now suffering industrial and financial stagnation cannot hope to acquire a sufficient stock of gold with which to stabilize and support adequate currency systems. What, then, is the alternative? From time immemorial gold and silver have been regarded by the peoples of the world as best adapted for uses as money. The increased price of silver during the years 1919, 1920 and part of 1911, during which time credit money was permited to circulate without much regard to its metallic backing, a number of European countries found it advisable to dispose of their stock of silver coin as a temporary expedient to meet existing emergencies, which left these countries largely without any metallic money at the close of the war. These countries are finding it very difficult to do business with a very greatly depreciated paper currency, but lack the means to secure a supply of silver for coinage, notwithstanding the very great advantage which could come to those countries by currency stabilization. The vast importance to the United States of the stabilization of industrial conditions of Europe can not be overestimated. The great question then is by what process can European countries be sup-plied with and led to use silver as a basis of their currency mediums. So long as the Pittman act is in effect, this is not a vital problem to the silver producers of the United States. The day is not so very far distant when the production of this coutnry will be necessarily thrown upon the world market, which under present conditions would still further depress the price of silver. The industries of the Untied States will feel very keenly the effect of de-- .. pressed silver prices upon the cost of lead and zinc and other industrial minerals which come in association with silver. In mines which produce these metals in combination with silver, and their number is very great, the reduction in silver prices must necessarily attach itself to lead and zinc and those minerals which come associated with silver. This will necessarily increase the price of lead and zinc to the consumers of this country ,and the question of future silver markets then becomes a vital question to the whole country. The use of silver with value based on the gold Standard as a medium of exchange in European countries is therefore a vital issue to all of the business interests of the United States. While this country may well keep itself aloof from the entangling intrigues of European politics, it cannot escape the influence of the world conditions in finance' and industry. Two committees are now engaged in an effort to solve some of these difficult problems. The first appointed by a conference of western senators which agreed upon the following committee: Key Pittman of Nevada, Thomas J. Walsh of Montana, William H. King of Utah, Samuel D. Nicholson of 4 Colorado. This committee organized by the selection of Senator Pittman as chairman and J. F. Callbreath as secretary. A committee has been appointed by the American Mining congress, consisting of C. F. Kelley, chairman; F. Y. Robertson, F. H. Brownell, Bulkeley Wells and Professor J. W. Jenks. 11 Through the courtesy of Jas. W. Wade, the assistant general manager of this property, we are able to publish figures showing the Tintic Standards production of silver, lead, copper and gold for the year 1922. Mr. Wades figures are as follows: Silver, 2,203,- 320 ounces; lead, 15,531,172 pounds; copper 839,846 pounds, and gold 2,837 ounces. In the matter of silver production the Tintic Standard mines record for the year 1922 falls about 50,000 ounces short of the year 1921, but there was a most gratifying increase in the lead production during the year just closed. Not only did the companys ore contain higher values in lead but that metal brought a much better price per pound so that it was really a most important factor in connection with the revenue. With the Tintic Standard mill in shape for saving lead values it is but reasonable to suppose that a much larger amount of lead will be marketed during the coming year. 1922 e Successful leaching of copper ore while it remains in the mountain has been accomplished by the Ohio Copper company at Lark, near Bingham, Utah. In the companys mine there is an area of broken ground which had been caved from previous mining operations and which engilow-grad- neers estimate contains 37,000,000 tons of broken material with an average Why Lots of People HUNT MARABELLE Because Marabelles Is the place to get first class tailoring, cleaning and repair work. Time for you to start to 78 WEST FOURTH 80UTH The Mysterious Address for your work. Phone Was. 5892. I in Salt Lake City carries NOofSTORE stationery as do Pembrokes. so complete a stock Every size, color, style and price in both business and ladies and gentlemens social stationery is included. See the latest designs. HOUSE 24-- E. BROADWAY SILVER WILL STABILIZE EUROPES PAPER ISSUES No one question more affects the COPPER LEACHING PROVES SUCCESSFUL AT BINGHAM. fu- ture of European finances and industry than the stabilization of the monetary systems of European countries. With no gold supplies to back up European paper money, the qeustion is how to stabilize the finances of these coun-trel- s. The use of silver with value based on the gold standard as a medium of exchange in European countries is a vital issue, not only to those countries, but to the metal mining interests of the United States. The great question is by what process can European countries be supplied with and encouraged to use silver as a basis for their currency mediums. While this country may well keep itself aloof from entangling intrigues of European politics, it cannot escape the influence of world conditions in finance and industry. Anything which our government can do to help stabilize European currency with a supply of silver will be of great benefit not only to the countries in question, but to our own nation and industries who must trade with these foreign countries. Our mines are great silver producers and utilizing this metal to stabilize paper money is a worth while subject for study. TINTIC STANDARD PRODUCTION. One of the heaviest silver producers not only in the state of Utah, but in the United States, for the year ending December 31st, last, was the Tin-ti- c Standard mine of this district. NOT ONE PENNY DOWN! The world-famo- us Simplex Eromeir Will be Sent to You on 10 DAYS FREE TRIAL Without the outlay of a single cent you can have a genuine Simplex Ironer delivered and placed in your home wherever line capacity is available. Use it, test it, see for yourself how It produces matchless ironing results. See how perfectly you can iron shirts, aprons, childrens clothes, table linen practically everything. 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