OCR Text |
Show GOLD MINERS MUST BE J HELPFUL I j I A great deal has been wiltton for ' I nnd against tho McFadden bill I which proposes a tax of $10 an fl ounco for all gold used for other jl than monetary purposes. From the ! sum thus collected tho government S would pay gold miners $10 an ounco jy to help cover the greatly Increased y cost of production and thus encour- ft ago gold mining which Is now de- rj cllnlng at a rapid rate 25 per cent jl In tho past four ears. . " jj Theoretical discussion from ccon- omlc standpoints relatlvo to this fl measuro does uot produce gold und jl so far tho McFadden bill seems to Um offer tho only Immediate relief for 111 tho miner. 1 Tho McFadden bill does not ill chango or Interero In any way with 1 j our standards of value, money or I ! currency. It simply Imposes a tax on gold used for manufacturing pur- t poses, this In turn to bo paid as a premium to producers of new gold. 5j No man can Indefinitely operate a . business nt a loss und If tho gold standard Is to remain stationary for ' monetary purposes somo method I j must bo devised which will enablo n I I gold producer to operate at a profit . It ( under present conditions, , Tho gold mining Industry will bo V completely shut down unless constructive con-structive aid Is provided without delay, de-lay, In which event It will lake years to develop a normal output of gold at a very much grcntor expense To allow tho gold mines of tho United I States to cavo In and fill with wa- ' j ter entails a waste of doveloped gold 1 resources, which In a most critical fl hour of financial need will causo want. No argument can be mado In jl favor of wasto. Tho tlmo to act Is l hot beoro the Industry Is shut down. |