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By A. A. Terchick

In 1970 U. S. Steel acquired the physical assets of mine, mine property, and preparation plant of the Crystal Block Coal Company near Thacker, Mingo County, West Virginia. The facility, identified as U. S. Steel Mine No. 20, is administered and operated as a production unit of U. S. Steel Gary District, Gary, West Virginia. Mining operations of the No. 20 mine are conducted in the high-volatile Alma seam. The preparation plant, which originally had a capacity of about 150 tons per hour (tph) of raw-coal feed, had process circuitry consisting of a Daniels heavy-media vessel for cleaning the plus-1/4-inch raw coal, a McNally-Pittsburg feldspar jig for cleaning the 1/4 inch by 28 mesh, and Daniels flotation cells for treating the 28 mesh by 0. No water-classification system existed. Refuse tailings from the plant were pumped to several surface lagoons which were decanted to the stream. The settled solids were removed and trucked to the coarse-refuse disposal area. Water make-up requirements were supplied by a small mine-water surface reservoir and augmented with stream water. Expansion of production from the property required an increase in preparation-plant raw-coal-feed rate capacity from

Jan 1, 1974

By F. Mercier-Langevin

ABSTRACT; Agnico-Eagle’s LaRonde mine is one of the deepest mines in Canada. Ground conditions in the deeper levels can be very challenging, ranging from hard and brittle to soft and squeezing. As a result, rock mechanics and ground control practices have had to evolve considerably to accommodate progressively deeper mining activities. This paper focuses on the deeper levels of mines and how the difficult ground conditions encountered there have influenced the mining strategy. The first section examines ground control practices and support systems in highly stressed, poor quality rock. The evolution of level layout is also presented. Finally, improvements in stope sequencing are reviewed.

Jan 1, 2010

By Ludwig Schmidt

The petroleum industry has recently shown sucks great interest in the evaporation of crude oil and of gasoline, and in the prevention of evaporation losses that almost daily there is being developed and placed on the market equipment designed especially to reduce these losses. Among the recent developments is a new type of tank roof known as the "floating roof," which practically eliminates the vapor space over the surface of the oil, thus removing one of the chief causes of evaporation. There are at the present writing at least two types of floating roofs which, while similar in fundamental principle, differ mainly in the method of making contact with the inside shell of the tank. One type of floating roof is known as a floating tank deck, and has on its circumference flexible metal baskets containing gravel that .rest against the inside shell of the tank. In the other type of floating roof contact with the tank shell is made by the use of movable buffers or shoes. These are attached to the outer ring of the roof and are pressed against the tank shell by means of springs.

Jan 1, 1923

By R. Mattos, E. Calcina, G. Quispe, S. S. Kanchibotla

During blasting, rock breaks and moves but standard grade control practices do not adjust ore waste boundaries to cater for blast movement. Rock movement resulting from blasts can result in mischaracterization of grade boundaries resulting in ore loss and dilution. Ore loss takes place when ore is mischaracterized as waste and sent to waste dumps, and dilution occurs when waste is mischaracterized as ore and sent for processing. Las Bambas operations of MMG Peru, realized the economic impact of blast movement on ore loss and dilution and adjust ore boundaries using limited blast movement measurements. This is a step in the right direction but has limitations for everyday application. This paper discusses the advantages of disadvantages of current blast monitoring techniques and introduces an operational tool to estimate polygon movements for different blast designs and confinement conditions. Blast movement estimates from this new tool have been compared against the estimates from the current tools for several production blasts and the results were quite promising.

Mar 2, 2022

By R. M. Asimow, J. J. Svitak

Tile crilical resoll,r,d shear stress, CRSS, for slip of slow1y cooled Ag-All single crystals was measured at 201K. Tlze importance of short-range order and Suzuki sogregalion was inrestigated by deter~rlining llze ciic.cl of quenching on the CRSS. Thr obserz.ed rfrtenching effects were generally small and indicate that short-range ordcr and Slczuki srgregation do no1 account for n significant portion of the solid-solution strengthening in this system. However, all alloys slzozcwi yield drops ulhich rilere heat- lreat nrenl-sensiline THERE have been a number of mechanisms proposed to explain alloy strengthening in the Ag-Au system. The effectiveness of some of the proposed mechanisms, especially those that depend on Suzuki segregation1" or on short-range order,2-6 SRO? should be strongly dependent on heat treatment. Since internal friction investigations in this system indicate that there is stress-induced order,' we must also consider the possibility of local atomic rearrangement or short-range ordering in the stress field of a dislocation. There is not complete agreement whether these mechanisms should be most effective in raising the flow stress, in causing yield drops. or some combination of these two effects. This work was undertaken to determine the effects in the Ag-Au system of mechanisms that depend on segregation or order by using known but drastically different cooling rates following a high-temperature treatment. By comparing the critical resolved shear stress, CRSS, for slip measured after a very slow cool and again after a fast cool (quench) of the same crystal, it is possible to determine the effect of cooling rate on CRSS* and on yield drops. The single-crystal CRSS was determined at several compositions because there has been no data published across the phase field since the publication of room-temperature flow stress by Sachs and Weerts.' EXPERIMENTAL PROCEDURE Starting with materials of 99.999 pct purity, single-crystal specimens of random orientation 1.25 mm square by 4 cm long were prepared with 0, 10, 14, 25, 30. 50, 70. 75. 80, 90. and 100 at. pct Au. Crystals were grown in an inert atmosphere using a modified Bridgman technique with a growth rate of 1.5 cm per hr in a gradient of 3°C per cm. To obtain a maximum practical degree of SRO, the crystals were cooled at a rate of 275'C per hr to about 310°C and then cooled at 6°C per hr to approximately 200°C. Specimens were tested in tension immersed in an alcohol bath at -72°C (201°K) at a strain rate > = 0.003 mm"1 to determine the CRSS (7). The activation volume of several crystals was determined from the flow stress increment (72 - T1) for a tenfold increase in strain rate. The total shear strain varied from 0.05 to 2.3 pct but was generally less than 0.4 pct. After testing, each crystal was then held at 500°C for 10 min, quenched into brine at -35°C and. after storage at -71°C for 1 day, retested in tension using a procedure identical to that of the first test. The quenching apparatus, see Fig. 1, was designed to enable accurate temperature control and rapid quenching while preventing specimen contamination and accidental deformation. Test data from a specimen with a fine thermocouple spot-welded to it indicated a cooling rate of 104C per sec. The relatively low heat-treatment temperature was chosen to minimize quenching defects caused by a large vacancy

Jan 1, 1970

By C. H. J. Beaven, M. P. Jones

Since the various new techniques of automation and computing have enabled vast numbers of mineralogical observations of relatively small samples to be made cheaply and rapidly, the statistical assessment of these measurements has become of vital importance. Much of the theory and most of the procedures of sampling that are used in the mineral industry are based on Gaussian statistics, but modern measuring techniques show that many mineralogical parameters do not necessarily follow the Gaussian distribution function. Consequently, it has become necessary to examine the application of other, more suitable statistical methods in order to derive the maximum amount of useful information from the examination of mineralogical samples. Some of the errors that can be introduced by the use of incorrect distribution functions are discussed and the value of determining the function that is appropriate to the particular parameter that is being measured is shown. Examples are provided of non-Gaussian distribution functions in mineralogical materials that were encountered during prospecting and during mineral treatment operations: a Canadian uranium ore, a Thai tin ore, and gold ore tailings.

Dec 1, 1971

By Walid El Kamash, Sadik Oztoprak

"Soft soil presents a challenge against multistory buildings in some cities of Egypt such as Port Said due to the consolidation settlement. Deep mixed (DM) columns are used to improve the soft foundation soil in order to reduce the total and differential settlements. Latest research revealed that this improvement technique also increases the rate of mechanical consolidation due to column yielding caused by stress concentration from the soft soil. In this study, extended poly-styrene (EPS) Geofoam is used to replace the soft soil over DM columns in order to control the stress concentration and settlement. To understand the effect of EPS geofoam on the degree of consolidation, stress concentration and settlement, a parametric study was carried out through a mechanically and hydraulically-coupled numerical method. A unit cell model is used, in which the soil was considered linear elastic; DM column and EPS Geofoam are elasticplastic materials. Results reveal that EPS geofoam is helpful for reducing the settlements and accelerating the consolidation. Increasing the length of the column of the deep mixed foundation with EPS geofoam has a significant effect on accelerating the consolidation.INTRODUCTIONExpanded polystyrene (EPS) geofoam is a lightweight polymeric material which is made by expansion of raw plastic beads. The expansion of the EPS beads are spherical-shaped particles containing closed hollow cells. EPS which plays an important role as an innovative lightweight construction material is now well recognized due to its low density in addition to high compressive and rupture strength. Inglis (1996) reported the first use of EPS geofoam as a seismic buffer to reduce potential seismic loads against a nonyielding basement wall. Gaskin (2000) and Bathurst et al. (2007) carried out reduced-scale shaking table test on a rigid retaining wall protected by EPS geofoam. The test data showed that the peak lateral loads acting on compressible model walls were reduced below values measured for nominally identical structure but with no compressible inclusion. Abdelrahman and El Kamash (2014) investigated the behavior of EPS Geofoam beneath raft foundation on soft soil of Port Said. They showed the ability of EPS to control vertical displacements. The investigation of the behavior of EPS geofoam with DM column has not attracted more attention of previous researchers. In this paper, the behavior of replacing the soft soil by EPS geofoam was examined in the presence of DM column."

Jan 1, 2015

By Alexander E. McHugh

A study of some variables affecting the recovery of molybdenum from oxidized molybdenum minerals was made. The effects of variations in contact time, temperature, pulp density, particle size, and solvent concentration on the recovery of molybdenum using acid and alkaline solvents were investigated. Chemical analyses, screen analyses and microscopic examinations were made and the presence of important elements determined. A hydrometallurgical method was developed to recover the molybdenum from the oxidized molybdenum ore by simultaneous dissolution of the molybdenum with sulfuric acid, adsorption on activated charcoal and flotation of the charcoal. The molybdenum was extracted from the activated charcoal with sodium hydroxide, precipitated with calcium hydroxide as calcium molybdate and this regenerated sodium hydroxide for additional stripping. A solvent extraction method, using mines, was also studied to recover molybdenum from both alkaline and acid molybdenum solutions. Satisfactory results were obtained.

Jan 1, 1967

By M. F. Hawkes

Austenite grain size has long been recognized by metallurgists as an important property of steels because of its influence on toughness, hardenability, ma-chinability and creep strength. Much research has been carried out on wrought steels to develop methods for disclosing austenite grain size, and to, provide knowledge of the grain-size characteristics of steels produced and heat-treated in various ways. Much less work in these fields has been done on steel castings; partly because, owing to the variable and complex microstruc-tures of cast steels, it is frequently very difficult to obtain results that are not questionable. The object of this investigation, therefore, was to establish, for a wide variety of carbon and alloy cast steels, suitable methods for disclosing austenite grain size and some knowledge of the grain-size variations to be expected. The steel foundryman is interested in austenite grain size at two different stages in the manufacture of his products; one is just after the steel is cast, and the other is after any reheating operation carried out above the critical temperature range. In both, it must always be kept in mind that the grain size being sought is actually a previous austenite grain size, and that the austenite no longer exists once the steel has cooled to room temperature. The prob-lem of the investigator is always to use evidence obtained from the structure at room temperature to deduce this previous austenite grain size, which was established the last time the steel existed at a temperature above the critical range. Since most steel castings today are at least annealed or normalized, the measurement of austenite grain size established by heat-treatment will he considered first. More than 50 commercially produced cast steels rcpresenting a wide variety of compositions and melting practices were used in the study. For each steel, grain-size determinations were made after each of three widely varying heat-treating schedules namely, one hour at I550'F, one hour at I700°F, and six hours at 1700 F. The list of steels and results obtained on them will be found in the appendix. (See page 530.) A discussion of the knowledge gained on the applicability of various test methods and on grain-size characteristics of cast steels in general follows. MEASUREMENT OF AUSTENITE GRAIN SIZE ESTABLISHED BY HEAT TREATMENT Methods Suitable foR Determining Austenite Grain Size after Heat-treatment at Ordinary Temperatures and Times It was desired, as one of the results of this investigation, to be able to recommend to steel foundries a method, or methods, of disclosing grain size best suited to accurate

Jan 1, 1948

By M. F. Hawkes

Austenite grain size has long been recognized by metallurgists as an important property of steels because of its influence on toughness, hardenability, ma-chinability and creep strength. Much research has been carried out on wrought steels to develop methods for disclosing austenite grain size, and to, provide knowledge of the grain-size characteristics of steels produced and heat-treated in various ways. Much less work in these fields has been done on steel castings; partly because, owing to the variable and complex microstruc-tures of cast steels, it is frequently very difficult to obtain results that are not questionable. The object of this investigation, therefore, was to establish, for a wide variety of carbon and alloy cast steels, suitable methods for disclosing austenite grain size and some knowledge of the grain-size variations to be expected. The steel foundryman is interested in austenite grain size at two different stages in the manufacture of his products; one is just after the steel is cast, and the other is after any reheating operation carried out above the critical temperature range. In both, it must always be kept in mind that the grain size being sought is actually a previous austenite grain size, and that the austenite no longer exists once the steel has cooled to room temperature. The prob-lem of the investigator is always to use evidence obtained from the structure at room temperature to deduce this previous austenite grain size, which was established the last time the steel existed at a temperature above the critical range. Since most steel castings today are at least annealed or normalized, the measurement of austenite grain size established by heat-treatment will he considered first. More than 50 commercially produced cast steels rcpresenting a wide variety of compositions and melting practices were used in the study. For each steel, grain-size determinations were made after each of three widely varying heat-treating schedules namely, one hour at I550'F, one hour at I700°F, and six hours at 1700 F. The list of steels and results obtained on them will be found in the appendix. (See page 530.) A discussion of the knowledge gained on the applicability of various test methods and on grain-size characteristics of cast steels in general follows. MEASUREMENT OF AUSTENITE GRAIN SIZE ESTABLISHED BY HEAT TREATMENT Methods Suitable foR Determining Austenite Grain Size after Heat-treatment at Ordinary Temperatures and Times It was desired, as one of the results of this investigation, to be able to recommend to steel foundries a method, or methods, of disclosing grain size best suited to accurate

Jan 1, 1948

By A. Luckita, A. Samtani, R. Barus, J. R. Donald, J. Syarifuddin

In conventional Rotary Kiln-Electric Furnace (RK-EF) laterite nickel processing, management of dust continues to be problematic. A more efficient processing of dust represents an opportunity for energy efficiency, increased production, and productivity. PT International Nickel Indonesia (PTI), together with Vale Base Metals Technology Development (VBMTD), has successfully developed and implemented a novel flowsheet enhancement that capitalizes on these opportunities. In the novel flowsheet, the dust recycle stream is moved forward in the RK-EF laterite nickel smelting process. The dust is injected into the kiln's main burner, as opposed to being recycled to the dryers. A similar treatment of dust is commonly practiced in the cement industry; however, application to nickel smelters has not been fully developed to date. This paper describes this dust insufflation technology, the process through which it was developed for laterite nickel processing, and summarizes the lessons learned. A key conclusion is that successful new technology development requires a multi-disciplinary team involving members from research and development, study management, engineering consulting firms, project implementation management, process technology and operations.

Jan 1, 2011

By Dachun Liu, Xutao Guo, Wenlong Jiang, Baoqiang Xu, Bin Yang, Yong Deng, Heng Xiong

Typical copper dross, the byproduct of lead bullion pyrometallurgical refining for copper removal, mainly contains Pb, Cu, S, As, Sb and Sn etc. In traditional treatment process, copper dross is transformed to be copper matte by smelting with iron scarp and iron pyrite. Here, a new treatment process of converting-vacuum distillation (CVD) was proposed and investigated. Based on this concept, the converting process was tentatively investigated in this paper. The results of element distribution of converting samples showed the sample has three layers. The upper layer is mainly sulfides of lead and copper, the middle layer is mainly copper arsenide, and the lower layer is lead arsenide and crude lead. On the condition of oxygen flow rate 400 ml/min, the converting temperature 1000 °C, the holding time 1 h, the converting time 10 min, the lead copper alloy containing 0.17% S was obtained.

Mar 1, 2018

THOSE MARKED THUS * ARE MEMBERS, MARKED THUS t ARE ASSOCIATES THESE SIGNS DOUBLED INDICATE LIFE MEMBERS AND ASSOCIATES RESPECTIVELY THE FIGURES AT THE END OE THE ADDRESS INDICATE THE YEAR OE ELECTION HEAVY FACED T1 PE SIGNIFIES HONORARY MEMBERSHIP *ABADIE, EMILE R , Min Engr P 0 Box 83, Berkeley, Cal '76 *ABBE, CLEVELAND, JR, Geol Aid, U S Geological Survey, Washington, D C '00 *ABBOTT, AI ARTHUR, Cerro de Pasco Mining CO , Cerro de Pasco, Peru, So America '95 *ABBOTT, ARTHUR V , Electrical Engr , Westinghouse, Church, Kerr & Co , 8 Bridge St, New York, N Y '82 *ABBOTT, CLARENCE E, Chief Min Engr, Care Fayal Mine, Eveleth, Minn '04 *ABBOTT, JAMES W , Min Engr , Special Agent, Rocky Mountain and Pa¬cific Coast Division, U S Dept of Agriculture, "Tile New Markham," Denver, Colo '94

Jan 1, 1910

By G. H. Keith

The Bureau of Mines determined the mechanism(s) involved in observed anomalous changes in mechanical properties of vanadium-base alloys. Tensile properties of electrorefined and commercial-purity vanadium-base alloys containing up to 5 atomic percent molybdenum or titanium were measured between 77° and 673° K. Snoek oxygen and nitrogen peak heights were measured to determine the changes in dissolved interstitial content caused by increasing quantities of solute. In addition, changes in lattice parameter were followed wit: precision X-ray techniques. Softening, observed in alloys containing titanium, is explained by the formation of a second-phase titanium compound with oxygen or nitrogen. However, because of partitioning of titanium between compound formation and solid solution formation, about five times the stoichiometric amount was required for complete reaction. Addition of 1 percent titanium drastically lowered the strengthening due to strain aging, at 673° K, and 2 percent titanium essentially eliminated it. All alloys were ductile at 77° K. Variations in the tensile properties of the molybdenum-containing alloys are explained by variations in the amounts of interstitial impurities present. The molybdenum did not react with these impurities and had no effect on strengthening due to strain aging. Commercial-purity vanadium alloys containing more than 2 percent molybdenum were brittle at 77° K.

Jan 1, 1969

By M Rafty, A Markham, S Atkinson

Australia contains some of the most productive mining areas and is characterised by ancient landscapes and highly variable hydrology. Historical mining of iron ore, coal and other minerals has targeted ore deposits located above water tables, and elevated above creek lines where possible to reduce cost. The downturn in mining caused by falling ore prices over recent years has triggered a drive to reduce cost, maximise yield and delay capital expenditure associated with opening new mines. So as the ore deposits with more favorable mining conditions become depleted there is an increased focus on mining ore associated with valley floors and creek lines. This is demonstrated by a regional assessment of the extent of Channel Iron Deposits (CID) and Iron Ore (Fe) Mines and Deposits in the Pilbara Region of Western Australia (Figure 1). A large proportion of these mines are, or plan to, target high grade CID ore associated with existing creek systems. Figure 2 shows outcropping and inferred sub-cropping CID extents, which suggests there are vast quantities of CID ore deposits throughout the Pilbara Region, intersected by major creeks which could be mined at some point in the future using creek diversions (Atkinson et al., 2017). A similar picture could also be produced for coal mining in Queensland, particularly in areas such as the Bowen Basin.While creek diversions provide an opportunity to maximise the utilisation of these orebodies and extend the life of mine, creek diversions can involve substantial financial, social, environmental and regulatory risks that need to be carefully managed (Markham et al., 2017, Atkinson et al., 2017). This paper discusses the key issues and opportunities associated with diversion decision making. It highlights the importance of using a well-structured assessment methodology that allows key stakeholders to be part of the assessment process and is complementary to material presented in Atkinson et al., (2017). Design considerations for operational and closure designs are presented, as well as mine planning considerations, risks, cost saving opportunities and the benefits of an integrated approach to design. The role technology plays in diversion design and performance monitoring is discussed as are the potential opportunities for the future.CITATION:Atkinson, S, Markham, A and Rafty, M, 2018. Diversion decision making with an integrated approach to design for operations and mine closure, in Proceedings Life-of-Mine 2018, pp 74–79 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 25, 2018

Process engineering principles are used to analyse the features of leaching processes for large masses of low grade, unprocessed ore. Different performance characteristics are related to the numerous variants of these processes. The variant for which reagent enters a heap only via the input solution is further subdivided into three modes of operation. The three modes may occur in testwork and full-scale operations; the effects of process variables on the rate of the process are completely different in each mode. The mode can be identified by the time at which reagent first appears in the pregnant solution. It is related to the ratio of the height of the heap and the thickness of a band of ore in which the reactions are localised. Synthesis of the phenomena occurring within a heap via a computer program has produced a quantitative relation for the reaction band thickness. The program has been validated for several different systems. The overall achievement is that the mode of operation and the rate of the process can be forecast before column testwork is commenced. Some applications of the outcomes to testwork, process design and operational tactics are described.

Jan 1, 1994

Jan 1, 1920

By John A. Cordes, John J. Schanz

INTRODUCTION The economic structures of industrialized countries require a continuous supply of reasonably priced and appropriately processed nonfuel minerals. As a result, national policy makers are sensitive to real or perceived threats to the effective operation of these commodity markets. Their most persistent concerns can be subsumed into the related political economy issues of supply availability and marketplace stability. These concerns are not new. For over a century the "global struggle" for mineral resources has influenced national policies and international relations (Eckes, 1979). During the past two decades the complexity of these issues, if not their place on national political agendas, has increased. Dramatic changes in the structure of mineral industries and in the nature of international economic relations have redefined policy needs and response options. This paper focuses on how selected OECD countries have responded to nonfuel mineral industry issues over the past twenty-five years. Particular emphasis is placed on the impact these policy decisions have had on the size and location of productive capacity and its utilization rates. The results, perhaps, are not surprising for this group of market- oriented economics. While individual cases of significant impact are easy to identify at various times in most countries, the overall importance of policy decisions has not been great. This is especially true for the past decade when excess capacity reached unusual highs of magnitude and duration. Macroeconomic forces and market structure changes played much more important roles. PERSPECTIVES ON THE ISSUES OECD nations dominate the international nonfuel minerals marketplace as producers, consumers and traders. In 1986, these twenty-four countries accounted for 75 percent of the Western world's export trade value in minerals, ores and metals. They imported 88 percent of the total value. During 1966, the respective percentages were 70 and 94. Japan was the world's largest importer in 1986 followed by the US, FRG, UK and France. The same five countries led the 1966 list except that, then, Japan was ranked fourth. Table 1 ranks the fifteen largest Western exporting nations in the two specified years. It also indicates the growth in current export dollars earned in 1986 compared to 1966.

Jan 1, 1989

By L. Rodd, C. Walker, T. Koehler

"The energy content of slag represents approximately 80% of the total energy inputs to a laterite nickel electric smelting furnace. Conventional slag handling methods produce only low grade heat and the entire thermal content of the slag is wasted. A heat recovery system proven on BOF slag in the mid 1980's can be adapted to a laterite nickel rotary kiln electric furnace (RKEF) plant. Slag is granulated using a high velocity air jet inside a waste heat boiler to produce slag granules. Granules are cooled during flight via radiation to water-cooled boiler walls and by convection to the granulation air. This system has the potential to recover 80% of the total slag energy in the form of hot air and steam.Integration of the recovered slag energy into the RKEF smelter can be achieved by a number of methods, including the use of preheated air at the ore dryers, kiln or existing power plant. Energy from the slag boiler may be used to reheat boiler feed water from the power plant or to produce superheated steam and generate electricity. The heat recovery system can provide up to 25 - 30% of the total electrical requirement of each RKEF line and a reduction in CO2 emissions of 234,000 tonnes per year.The total cost of slag heat recovery, including CAPEX and OPEX, is $2.5/GJ, which is competitive with using coal when CO2 credits are $18 per tonne. With Clean Development Mechanism (CDM) carbon credits currently selling at €13 ($20 USD) per tonne CO2, there is considerable opportunity for slag producers in regions including South America, Korea, Indonesia and Africa. Increasing fuel costs and more wide-spread legislation for GHG emissions will likely create conditions in which slag heat recovery could generate a favourable return on investment."

Jan 1, 2010

By Arthur Notman

THE COMMITTEE on Production Control of the Institute has accomplished little or nothing tangible during the last year. For this the chairman must accept responsibility and whatever praise or blame goes with it. However, we have all had plenty of opportunity to observe the results obtained by various producing groups in their attempts to regulate production to meet demand dur¬ing the last few years. It would be putting it mildly to say that these have not been such as to inspire confidence in the methods pursued. The present plight of the wheat, cotton, coffee and sugar growers; the oil, copper, lead, zinc and tin producers, to name a few of the unfortunates, suggests a common cause perhaps beyond their control. There is a growing tendency to question as outmoded the theories of laissez faire economics, with its laws of competition, supply and demand, with price as the automatic regulator. The position is maintained that something new should be substituted because these laws no longer work. Many solutions are offered, ranging in the world at large from the planned economy of Russia, with the profit element removed, to the military controlled economy of Fascism, and in our own country from voluntary curtailment to martial law. But one hardly feels driven by any irresistible logic to put his finger on any one of these proposals, and to say this is the one in which I believe. On turning to one's neighbors, one is still more confused by the realization that this intellectual uncertainty is wide-spread. Isolation or cooperation, protection or free trade, the gold standard, bimetallism or managed currencies, de¬flation or inflation, all have their proponents in whose eyes one or the other of these slogans will afford the panacea for all our ills.

Jan 1, 1933