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Cobalt mostly occurs as a minor, but valuable, constituent in most nickel and a few copper ores, however it is not generally found alone in commercially viable deposits. Its concentration and extraction are therefore intimately linked to the recovery of the primary metals and the major task for the metallurgist is to extract cobalt of commercial grade from a much larger mass of either nickel or copper and sometimes both. With a particular focus on Vale Inco?s operations, this paper provides a brief overview of the mineralogy of the main deposits being currently exploited that contain cobalt as a co or by-product. The concentration and then extraction to metal are reviewed and some advances released into the public domain are discussed.

May 1, 2009

By J K. Claflin, S R. La Brooy

A case study from a current Ausenco project is presented to demonstrate the importance of maintaining high carbon activity to illustrate the driving force for plant improvements such as a carbon regeneration kiln upgrade.This paper revisits the factors that influence carbon activity for gold loading, with emphasis on deactivation by organic solution components such as flotation reagents.Kiln process design requirements for effective thermal regeneration are reviewed including the interaction of parameters such as temperature, kiln atmosphere and residence time.The different types of kilns that have been used for carbon reactivation are described. A check list is provided of what to look for when purchasing a carbon reactivation system for dealing with severely fouled carbon. This covers the ancillary equipment as well as the kiln itself.While the effectiveness of the carbon reactivation kiln is vital to maintenance of high carbon activity it needs to be remembered that this is only the end of pipe solution. It is also important to ensure that reagents such as frothers and flotation collectors are appropriately chosen to maximise recovery and at the same time minimise carbon deactivation.CITATION:La Brooy, S R and Claflin, J K, 2013. Carbon management in a high gold price environment, in Proceedings MetPlant 2013 , pp 455-467 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 15, 2013

By A. Drouin, D. Lemieux, C. Chouinard

"A gold bearing pyrite concentrate was treated at the demonstration scale (15 t/d) for the extraction of gold using a cyanide-free process. The pyrite was depressed in the flotation circuit in order to promote the flotation of copper and to achieve a sufficient copper grade to meet the copper smelter criteria. However, the recoveries of copper were 80% and only about 50% for the gold was found in the copper concentrate. The balance of the gold (50%) and copper (20%) contained in the pyrite concentrate as a reject from an overall flotation circuit. The gold grade in the pyrite concentrate is 5.40 g Au/t and copper about 0.77%. About 170 tons of pyrite concentrate were processed in the DST demonstration plant. The concentrate was first oxidized using a fluid bed to produce a calcine. Copper was then extracted as copper sulphate using diluted sulphuric acid. The residual solid was submitted to the DST chlorination process for gold extraction. Thereafter, the gold was recovered from the pregnant brine by precipitation over silica using DST proprietary process. The maximum gold recovery by chlorination was 90%. The average gold recovery by cyanidation of these calcines was 71%.IntroductionDundee Sustainable Technologies (“DST”) has developed a chlorination process as an alternative to the conventional cyanidation process for the extraction of precious metals from ores or concentrates. The technology offers viable and efficient gold recoveries and the ability to handle refractory ores and contaminated material (As, Hg, etc..). The process was successfully demonstrated on hundreds of samples provided by various mines, exploration and development projects and has evolved from laboratory experiment to demonstration at an industrial scale.DST’s chlorination process operates in a closed loop circuit, which implies that no liquid effluents are generated. The chemistry and process design allows precious metal deposits containing base metals to be treated viably. The tailings from the process are inert and non-toxic, sulphide depleted and thus non-acid generating. The efficiency of the process has demonstrated excellent gold recoveries within a fraction of the time needed for cyanidation to obtain similar results. The company completed in 2015 the construction of the first industrial demonstration plant operating with the DST technology. The plant has a capacity of 15 tons per day of mineral concentrate, and the ability to extract gold and silver utilizing DST chlorination technology.DST has tested its chlorination technology at demonstration scale on the refractory pyrite concentrate containing 5.40 g Au/t and 0.8 %copper. This auriferous pyrite concentrate, was by-product of copper concentrate respecting the copper smelter norms, is produced in a country where cyanide is prohibited and refractory to cyanidation. The pyrite concentrate was initially processed successfully (gold recoveries: > 90%) by the DST technology at laboratory (2011: 20 kg) and pilot (2014: 5 tons) scales to extract gold. About 170 tons of this pyrite concentrate were processed in the DST demonstration plant located in Thetford Mines."

Jan 1, 2017

By Monger N. R

Factors leading to the decision to use Joy Continuous Miners for pillar extraction in the Burwood Colliery are outlined. A detailed description is given of the Joy 1-CM-2 Continuous Miner, including the power supply to the machine, and the method of cutting coalfrom a face. Modifications found necessary in practice are dealt with.The Joy 10 S.C. shuttle car used in conjunction with the Miner, and alterations made to this unit, are then described, together with Ancillary units for the whole installation such as transformers, motor generator set, air compressor,_ cables for power supply and water supply for dust suppression.Special arrangements were necessary to transport the Miner and Shuttle Cars through the tunnel to the Victoria Tunnel seam, and the method of overcoming the transport difficulties is discussed. Manning of the Continuous Miner unit, and final preparation andsubsequent working of the pillars is outlined. Special attention must be given to maintenance of the machines.It is concluded that the combination of Joy Continuous Miner and Shuttle Car is an excellent method for removing pillars in the Burwood Colliery.INTRODUCTIONThis paper deals with the Burwood Colliery in the RH.P. Group in which some units are engaged in the mechanical extraction of pillars with Joy Continuous Miners.In 1941, an amendment to the Coal Mines Regulation Act of N.S.W. forbade the extraction of pillars by mechanical means unless with the express permission of the Minister for Mines. As this permission was not forthcoming, no mechanical extraction of pillars took place in Australia until 1954 As it was doubtful during most of this period whether mechanical extraction would ever come about, coal generally was won with a view to maximum extraction in the first workings, thus giving rise to centre gannon bord panels and 45° angle cut throughs as shown in Fig. 1.

Jan 1, 1957

By M. B. C. Brandt

Focal depths of 15 tectonic earthquakes and 9 mine-related events were determined for South Africa using data recorded by the South African National Seismograph Network. These earthquakes and events were relocated by means of the Hypocenter program using direct P-waves (Pg) , critically refracted P-waves (Pn) , and first-arrival S-waves for the magnitude range 3.6 ?? ML ?? 4.4. Focal depths were first determined by means of the minimum root mean square (RMS) of the differences between the measured travel times and those predicted using the velocity model. The depths for tectonic earthquakes had a 2 km ?? D ?? 10 km range and an average depth and standard deviation of 6.9 ± 2.3 km. Depths for minerelated events ranged over 0 km ?? D ?? 7 km, averaging 3 ± 2.3 km. Next, arrival times for the additional regional depth phases sPn , PmP, sPmP, and SmP were measured. Focal depths were re-determined for the relocated epicentres, with the minimum variance (i.e. spread) of the differences between the measured travel times and travel times predicted by means of the Wentzel, Kramer, Brillouin, and Jeffreys (WKBJ) method for synthetic waveform modelling. Depth ranges were 4 km ?? D ?? 7 km (average 5.9 ± 1.2 km) and 1 km ?? D ?? 4 km (average 2.4 ± 1.2 km) for tectonic and mine-related events, respectively. The derived depths were verified for one tectonic earthquake with synthetic-to-recorded-waveform fits using the WKBJ synthetic seismogram software for the abovementioned regional phases. The focal mechanism parameters for this earthquake source were obtained from the National Earthquake Information Centre. Focal depths were estimated for nine stations by visually comparing synthetic waveform phases with recorded waveforms, ranging from 5 km to 8 km.

Jan 1, 2014

By Thomas S. Jones

This report discusses processing and use of the principal forms of manganese. The focus is on trends in the United States in the 20th century and specifics of domestic manganese material flows as of about 1990. To protect proprietary data, quantitative assessments are limited to the iron and steel industry, which accounts for about 90% of consumption. Nonmetallurgical uses are considered qualitatively. Approximate disposition of a U.S. cumulative consumption during 1901-90 of an estimated 69 million st of manganese is estimated to be iron and steel slag, 69%; nonmetallurgical uses of a dissipative na¬ture, 10%; iron and steel scrap, 9%; National Defense Stockpile, 3%; unidentified and/or including items in service, 10%. In slag from iron blast furnaces and steelmaking, manganese is present as a minor, relatively im¬mobile component, which so far has been uneconomical to recover. Construction and road building are main applications for these slags. Steel slag contains the greater amount of manganese. Studies by others of global manganese fluxes and the effect of human activities on them also are discussed. One source concludes that the main effect of human activities, via deforestation and agricultural activities, has been to increase the rate of transport of manganese to the oceans.

Jan 1, 1994

By Jeffrey R. Hill

To extend the life of the Merchants Railroad Bridge crossing the Mississippi River in St. Louis, MO, the owner implemented a rehabilitation and reconstruction project. The Merchants Bridge provides a key link in the transcontinental railroad system. The bridge is of local importance to the Terminal Railroad Association ? providing a link between St Louis and a rail switching yard in Venice, IL. The intent of the bridge rehabilitation is to keep the Merchants Bridge in service, even though the bridge was originally constructed in the 1890?s. The project involved replacing the East and West approach deck truss spans with new deck girder spans. The rehabilitation program required construction of new concrete piers to support the new spans. In order to reduce the track down time to two, ten day single track shutdowns, the specifications required that all foundation and substructure work be completed while leaving the existing spans in place. The preliminary bridge design specified rock-socketed drilled shaft foundations. Drilled shafts proved to be challenging due to working from beneath the existing bridge, a high water table, utilities, a flood wall, and existing rail way lines. The micropile alternative was technically appropriate given the access limitations, shortened the foundation rehabilitation schedule by several weeks, and realized a significant cost savings to the Owner.

Jan 1, 2006

By C J. Unger, A M. Lechner, A Walton, V Glenn, M Edraki, D R. Mulligan

In Australia, responsibility for abandoned mines can be unclear. With a few exceptions, state and territory governments have become responsible for abandoned mines on Crown land and private landholders are responsible for abandoned mines on freehold land. Abandoned mines pose risks and opportunities across the full suite of sustainability themes (environmental, human health and safety, socio-economic and community development) after mining ceases.Across Australia, there are more than 50 000 abandoned mines recorded, ranging in size from individual shafts to large polluting open cut mines. Addressing the safety and environmental impacts of these sites, as well as the socio-economic development opportunities of significant rehabilitation projects, requires the implementation of effective policies and programs. Qualitatively defined graded scales or ‘rubrics’ have been used for many years in student assessment and increasingly in the performance assessment of other sectors (Davidson, 2005). While risk-based maturity models have been used for safety prioritisation (Westrum, 1993; Hudson, 2007; DRET, 2008; Hancock, 2010) and evaluation of organisational development (Esteves et al, 2010), this paper is the first to adapt maturity models for the evaluation of abandoned mine rehabilitation programs in Australia.In this paper, we used indicators based on the national policy for abandoned mines to assess the maturity of abandoned mine programs. Fourteen elements of maturity were identified (Unger et al, 2012) under the five chapters of the national policy for abandoned mines (MCMPR and MCA, 2010). Jurisdictions were then evaluated and ranked on their maturity on the basis of information that was web-accessible. Information transparency of abandoned mines policies and programs is in itself one element of the maturity chart. Each jurisdiction in Australia was compared with one another and with a Canadian jurisdiction; the British Columbia (BC) Crown Contaminated Sites Program (CCSP), which represents leading practice (Unger, 2009; Unger et al, 2012).Our research found that in some jurisdictions in Australia there is little or no information on abandoned mine programs or individual abandoned mine sites on government websites, while other jurisdictions provided very detailed program information on planning, funding and implementation. Each jurisdiction in Australia, for which web-based information was available, had some elements where they were more mature than other Australian jurisdictions. For some elements, maturity ranked equivalent to the BC CCSP, but most Australian jurisdictions were less mature. There was only one element where a single Australian jurisdiction ranked higher than the BC program in maturity. Legacy mine policies, programs, priorities and funding information via departmental websites are easier to find in some jurisdictions, indicating progression toward greater transparency and more mature programs. A systematic approach to monitoring and evaluating abandoned mines programs is essential for accountability as it can demonstrate liability reduction over time and continual improvement. The maturity model approach can provide both a measure of progress over time as well as a tool to support the implementation of the national policy for abandoned mines (MCMPR and MCA, 2010).CITATION:Unger, C J, Lechner, A M, Walton, A, Glenn, V, Edraki, M and Mulligan, D R, 2014. Maturity of jurisdictional abandoned mine programs in Australia based on web-accessible information, in Proceedings Life-of-Mine 2014 , pp 467–480 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

By R. C. Warner, L. Mills, S. D. Botts, M. Marticorena

The Antamina Mine is located in the mountainous region of the Ancash Department of Peru at an elevation of approximately 4200m.The 120 km main access road crosses the headwaters of numerous high-value trout streams and is adjacent to pristine lakes, some of very high ecological and scenic value. In addition, the mine discharges mine water and tailings supernatant to the Antamina and Ayash watersheds. These streams provide the primary water supply for irrigation by local residents and provide excellent fishery habitat. The rock walls and earthen diversions constructed by historic and current indigenous residents of Peru are world-renowned and local residents continue this tradition, passed down from the Inca Civilization, for both agricultural purposes and water distribution. The key elements of sustainable development – economic, environmental and social development have been incorporated into Antamina’s sustainable development program through integration of indigenous knowledge and capabilities into enhanced storm water, erosion reduction and sediment control systems. Examples of incorporating indigenous technologies and knowledge into cost-effective and environmentally sound environmental controls are:(1) placement of rock walls on steep terrain to reduce slope length and erosion, (2) installation of rock walls (porous rock check dams) within elongated sediment ponds to increase detention time, (3) construction of rock-lined ditches to convey clean water (4)use of rock walls, with or without geotextile, to function as a seep berm, and (5) appropriate selection and usage of native Andean species for protection of canals and sediment ponds, and steep slopes.

Jan 1, 2004

By John Corcoran

INTRODUCTION Content of this Report The 1300m long twin-bore 8.1m diameter Airside Road Tunnels (ART) were excavated beneath the busy taxiways and stands of Heathrow Airport between 2002and 2003. The tunnels were fully completed and handed over to the client for use early in 2005. This paper will describe the purpose of the tunnels, and the measures put in place to minimize the impact of construction on the daily activities involved in running an international airport. Terminal 5 Construction Heathrow Airport is the busiest international airport in the World, with a current capacity of circa 67 million passengers per year, based on existing infrastructure of4 passenger terminals, 1 cargo terminal, 2 runways and 170 aircraft stands. Terminal 5(T5) is being built to increase Heathrow’s passenger capacity by providing the following: 12 additional aircraft stands through redevelopment of the south apron area, in the autumn of 2004 A main terminal building (T5A) and a first satellite (T5B), and 43 additional stands by the spring of 2008, most of which will be able to receive the new generation large aircraft (Airbus A380) A second optional satellite (T5C) by year 2010 A third optional satellite (T5D) by year 2015 The total value of the project is approximately 4.2 billion pounds for the main phase of the works spanning from 2000 to 2007. Purpose of the Airside Road Tunnel The ART has been constructed to support the internal road traffic of the airport between terminals, aircraft stands, runways and taxiways, for passenger buses, service and technical vehicles. The majority of the traffic will be buses transporting passengers between the terminals and their aircraft.

Jan 1, 2005

By Stephen C. Tadolini

PC-Strand tendons, commonly referred to as cable bolts, have become a major rock reinforcement device for underground mining and civil applications. The most common configuration is a 1+6 strand, which designates a center king-wire, with six outer wires wound around it to form a 0.6-in (15-mm) diameter cable. The capacity of this tendon approaches 30 tons, but the performance is largely dependent on the anchorage medium and the ability of the system to transfer stresses back into the rock mass while reinforcing and suspending the immediate roof. Recent developments to improve the transfer mechanisms of the PCstrand via the anchorage medium by impregnating the individual wires with uniquely designed deformations have resulted in improved anchorage and subsequent cable bolt performance. This paper describes a series of laboratory tests used to develop the initial indentation patterns and numerical modeling simulations that were undertaken to refine and optimize the final designs. The new, indented PC-Strands, offered in both bright and properly galvanized, have been tested in the field and are being used effectively in two new cable bolt products. The results of the laboratory, computer modeling, field testing and in-situ installations provide a glance at the next generation of cable bolts. This suite of testing shows how they will improve the safety and serviceability of openings under adverse ground conditions.

Jan 1, 2012

By Douglas F. Scott

This case study provides an example of how social marketing was applied to meet the needs of business customers. Federal regulations require that all companies develop a written program to track hazardous chemicals at their sites. The HazCom Writer, created by the National Institute for Occupational Safety and Health (NIOSH), is a software tool designed to help companies prepare their required Hazard Communications (HazCom) written plan and list all hazardous chemicals at the company's worksite. The social marketing goal was to provide a product for small- to medium-sized companies to use for federal HazCom rule compliance. The HazCom Wm'ter is a direct NIOSH response to customer and stakeholder needs (including the Mine Safety and Health Administration, the mining community, and Occupational Safety and Health Administration- regulated companies).

Jan 1, 2009

By Hamid Maleki

Prudent design of coal pillars in any mining system requires an estimation of in-situ pillar strength, overburden lateral load transfer capability, and a failure criterion. Pillar strength is typically determined using one of several different empirical pillar strength formulas. For coal reserves in the U.S., a new pillar design method was proposed based on extensive U.S. field measurements in underground mines (7) which accounted for confinement effects. Field measurements in seven U.S. seams indicated highest strength for some Utah mines where the coal seam developed high confining stresses. Lower strength was measured in structurally controlled seams. This method is expanded here including the data from the weaker tertiary coal measure rocks and lower confinement for pillars with low width-to-height ratios. The determination of how much load a pillar is expected to take is partially dependent on the ability of overburden to transfer load laterally; this is useful for selection of panel width and barrier pillars size in select mining applications where long-term stability is required in conservative designs. In caving mining systems, caving of the strata is influenced by geologic, mining and stress conditions and the released energies influences how the pillars react at loads approaching pillar strengths. Overburden deformation and caving mechanisms are analyzed in this paper in multi-panel extractions to enhance the understanding of load transfer, seismicity and coal bump control in deep western U.S. operations.

Jan 1, 2008

By Peter Price

Introduction The Horne mine, the property of Noranda Mines, Limited, has in the last six years become one of Canada's leading gold and copper producers. Since the smelter was blown-in during December, 1927, up to the end of 1933, it has produced approximately 1,200,000 oz. of gold and 35O,OOO,OOO lb. of copper. The property is situated within an area occupied entirely by pre-Cambrian rocks and characterized by the complexity of rock types and structures common in such terrain. But apart from this the mine also presents other features of unusual interest in the size, number, and variety of the ore-bodies, the mineralogical associations, and the rather exceptional values both in gold and copper. It is not surprising, therefore, that a study of the geology of the mine should bring to light many interesting problems. The present paper summarizes, as concisely as possible, the results of such a study. Actually, it is a much abridged version of a more comprehensive and detailed paper completed by the writer a year ago (1), but embodying certain corrections and additional data made possible as a result of further development at the mine and of field work carried out during the summer of 1933. Owing to limitations of space, the paper is, in the main, a presentation of conclusions arrived at in the course of the study. Much of the supporting evidence cited in the thesis referred to has, of necessity, been omitted here.

Jan 1, 1934

By J. Drelich, M. Pawlik

An improved experimental procedure to measure contact angle has been consolidated with coal surface preparation involving polishing with abrasive paper, alumina powder, and a cloth, followed by ultrasonic and mechanical cleaning. Specifically, the captive-bubble measuring technique has been compared with the sessile-drop technique and the former has been recommended for the examination of the hydrophobic properties of coal surfaces. Results of the research program, which is currently under way, on the examination of the effect of the nature, amount, size, and distribution of mineral inclusions in coal, on its wettability are briefly reviewed.

Jan 1, 1999

The Electricity Generating Authority of Thailand (EGAT) Mae Moh coal mine is an open-cut coal mine in Thailand that produces about 16 Mt of lignite annually to generate 2400 MW of electricity. The surface mine pit covers is 4 km by 7 km with mining depths ranging up to 260 m. A large pit slope is formed with the progression of the mining operation. However, massive slides in the pit slope occur often due to the existence weak planes such as faults and bedding, and the weak mechanical properties of the rocks. Hence, 200 m to 300 m boundaries of rock block including coal seams are left in front of faults in order to prevent slides and maintain the stability of the pit slope. As a result, there are significant coal reserves beneath the abandoned area along the pit slope. Moreover, the mined coal seams are very thick and their thickness range from 15 to 30 m.This paper discusses the application of multi-slicing highwall mining system with stowing to this very thick coal seam left around large pit slopes by means of numerical analysis.

Dec 6, 2010

By S. Christiansen, G. R. Winslow, R. W. Kobler

Todays End of Life vehicles are shredded and their metal components recovered and recycled by standard methods. The remaining non-metallic fraction is shredder residue, and contains vast amounts of high value engineering plastics. None are today recovered. Discussed are the developmental approaches used in the first process to recover these valuable plastics. Examined are initial laboratory studies, pilot plant design and construction, product development, results, and flowchart explanations.

Jan 1, 2001

By G. S. Hume

Introduction Core drilling of the bituminous sands of northern Alberta has been carried on by the Mines and Geology Branch, Department of Mines and Resources, under the supervision of the Director, W. B. Timm. This was part of the Dominion Government's wartime investigations, which included an agreement with Abasand Oils, Limited, for the study of commercial possibilities of obtaining oil from the bituminous sands. The drilling programme, commenced in 1942 by the Consolidated Mining and Smelting Company of Canada, was continued in 1943 and subsequently by Boyles Bros. under contract with the Mines and Geology Branch. Several areas have been investigated and one of these, the Mildred-Ruth Lakes area, ' herein described, is of special importance in that it contains a sufficiently rich and large deposit of bituminous sands and bitumen beds to warrant consideration of commercial developments for the production of oil. The Steepbank Area, East Side of Athabaska River The Steepbank area, on the east side of Athabaska river in township 92, about twenty-two miles north of Fort McMurray, was selected for drilling in 1942 because previous investigations by Ells indicated it was one of considerable promise both from the standpoint of having reasonably rich bituminous sands under relatively light overburden and also having an excellent tailing disposal and plant site for large-scale operations in proximity to Athabaska river. The drilling done in 1942 and 1943 was largely exploratory, and, when it was found that the southerly part of township 92 had only low-grade material, closer drilling was done in 1944-45 in the richer, more northerly part.

Jan 1, 1947

By Thomas Jenning, C. M. Keithly

"INTRODUCTION This report is one of a series. 4. 5. 6/ concerned with presenting historical development, and operating data on secondary-recovery projects in various States to stimulate interest in sound secondary-recovery programs. Preceding reports in this series have dealt exclusively with descriptions of and results obtained by water flooding in three states, but no recent publication of comparable purpose describes gas-injection 7/ practices. The authors intend to present material relevant to the development and operation of gas-injection projects in Illinois, with particular emphasis on those producing from oil-bearing horizons that had been depleted to a point near the economic limit of operation by past oil-recovery methods.Most operators realize that the energy expended on the movement of fluids through gas-expansion- or gas-cap-type oil reservoirs to producing wells must be supplemented to attain maximum recovery of the oil present. Under favorable conditions, many operators choose to maintain oil-propulsive forces at or near their original magnitude by injecting extraneous fluids into a reservoir or recycling produced fluids early in the life of a field. More common, and less desirable, is the practice of replenishing these forces after primary producing methods become unprofitable. The lattes practice has been adopted in many stripper fields in Illinois and most of the oil-producing States during the last 40 years, but other old oil fields, and oil properties within those fields which were partly exploited by secondary--recovery methods, also may offer favorable opportunity for further development. To encourage and, aid operators in the development of gas-injection projects in the old oil fields of the United States, four projects have been described in detail in this report."

Nov 1, 1944

By Theodore H. Boggs

The battle of the gold standard is not limited to one country alone, or even to a single group of countries. It is being waged merrily in many important commercial and industrial quarters. Though it is not always a practical issue calling for immediate attention, it is none the less, quite widely, engaging the thought of bankers and other students of finance. The controversy arises, in the last analysis, because of the desire of men to secure a stable currency. There are two ways of restoring a reasonably stable currency system: (1) the re-establishment of the gold standard, or (2) the deliberate and artificial management of a paper currency. Both systems are well known. The gold standard was in use prior to the war in the principal commercial countries. A currency of inconvertible paper has been at times employed in the past in various countries; for example in Britain from 1797 to 1821, and in the United States from 1862 to 1879. The gold standard, as all are aware, implies the selection of gold as the standard of value. The unit of value is a fixed weight of gold and, so long as the standard remains unimpaired, all other means of payment are maintained at a parity with standard gold coins. And gold coins alone constitute the standard money, inasmuch as their value as bullion equals their value as coins. Under the gold standard this would not be true of any other form of money, although all other varieties of money, including bank notes, government notes and silver coins would be freely convertible into gold money. Strictly speaking, the gold standard also implies that the gold money in turn shall itself be freely convertible, through melting, into gold bullion and freely exportable.

Jan 1, 1925