| Show much gold going in the hands of the jewelers that the government rather doubted the good faith of some who purchased gold of the mint for or vate use is indicated by mining and scientific press which in speaking of the order of august biting the sale bale of gold to ornate parties says that othis ahls order was provoked by the steady increase in the demand from jewelers dentists and makers of optical goods it was noted that during the fis cal year ending june 30 last gold to the amount of 55 has been withdrawn from our national reserve ostensibly for use in the arts the government officials feared that this bullion in part w ww being hoarded and the privilege of further purchase was accord accordingly de nied A universal protest from the a at f fectea industries instantly arose and in d it was evident that an open market for new gold at an advanced price would be created unless the ruling was ras modified therefore a supplementary orde ordera was issued on sept 5 permitting the purchase of gold from the govern meat at the standard price per ounce but under regulations that insure its consumption in certain specified es sentral industries this episode has an important bearing on the proposals recently made by the american gold confer ence and other organizations toward obtaining financial aid tor for the pro dubers of new gold it reveals the anxiety of the treasury department to increase the gold reserve and it accentuates the need of a stimulus to gold mining in order to provide the metal needed for industrial as well as tor for momentary uses |
