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By John E. Miller

A high accuracy Burnett apparatus for use at 12,000 psi and 0° to 65° C has been constructed at the Bureau of Mines Helium Research Center. The apparatus is patterned after Burnett's original apparatus, but the working pressure is much higher and elastic distortion can be essentially eliminated. An operating procedure to permit faster experimental measurements is suggested.

Jan 1, 1967

By W. Chae

The influence of solution ionic strength (IS) and electrolyte valence on the flotation behavior of malachite has been investigated. The microflotation tests were conducted over a range of solution IS (1?300 mM) at a constant speed (340 rpm), pH (9.5), flotation time (10 min), and sodium oleate dosage (5.3×10-7 moles/g). The size of malachite ranged from 45 to 53 µm, and two different types of electrolytes (NaCl and CaCl2) were employed. Electrophoretic mobility was also measured over the same IS range employed in the microflotation study. Overall, strong coupled effect of solution IS and ion valence was observed. Specifically, the flotability of malachite increased with increasing IS in the presence of monovalent cation (Na+) while the flotability increased up to 30 mM and decreased with increasing IS in the presence of divalent cation (Ca2+). Notably, the flotability of malachite was greater with the presence of Na+ compared with Ca2+ under high IS conditions (IS>30 mM). Consistent trend for Na+ versus Ca2+ was observed from the flotation results with different SO dosages. The characterization and flotation results suggested that the trend was likely attributed to the increased unfavorable interaction between malachite and bubble via the charge reversal of bubbles and malachite at higher IS in the presence of Ca2+.

Feb 27, 2013

By Vincent Joannes, Marine Lasne, Luca Brenelli, Colin Serridge, Inge van Baardwijk, Martin Stanley, Anthony Fisher, Mary Ellen Bruce, Tony Suckling, Pedro Avellanosa

"Abstract The European Federation of Foundation Contractors (EFFC) and Deep Foundations Institute (DFI) developed a sector-specific carbon accounting methodology and associated “carbon calculator” for foundations and geotechnical works. The EFFC-DFI Carbon Calculator is believed to be one of the construction industry’s first collaboratively produced carbon calculator tools for European and international countries based on verifiable and standardized data. It is intended that the tool be adopted internationally and become the open-source industry standard for ground works. A detailed methodological guide is provided with the calculator (Lemaignan and Wilmotte, 2013). This guide explains the background of the standards, accounting methodologies, emission sources and factors that were used as the bases for the tool development and includes detailed guidance on use of the calculator.Drivers for DevelopmentFoundation contractors anticipate project cost and carbon emissions will become inextricably linked in response to the climbing price of fossil fuels and carbon intensive materials as resources become scarce. Low carbon solutions will therefore become more competitive options. Also with high profile construction projects having low carbon/carbon neutrality as requirements, sustainability in the foundations industry also becomes a market issue.This carbon calculator will be used to lead the industry and shape the expectations of commissioning organisations by providing insight into the carbon cost of their projects. Commissioning organizations are encouraged to be aware of the carbon impact of projects and to also facilitate a fair and accurate way of comparing footprints to provide a level playing field for foundation contractors."

Jan 1, 2014

By G. W. Harris, J. J. K. Daemen

Slightly shorter, modified version also published in CIM Bull., vol.94, no.1047, Feb. 2001, p.52-55. To minimise ore dilution induced by blast movement in surface mines it is necessary to quantify such movement. This will allow more accurate location of the grade boundaries on the surface of a blasted rock pile before excavation. A method has been developed and tested for measuring accurately the direction and magnitude of subsurface blast movement, using a caesium vapour gradiometer and a real-time, differentially corrected global positioning system to locate the pre- and post-blast positions of magnetically enhanced target objects placed in blastholes inside a bench. The procedure does not necessitate disturbance of the blasted rock and the movement information is available sufficiently quickly to allow for modification of the selective mining boundaries for each surveyed blast. It was found that the maximum depth of target detection was 18 m and the overall accuracy was plus or minus 1 m horizontally and 1.2 m vertically

Jun 21, 1905

By R. R. Rogers

Abstract The degree of cathodic protection of steel and the anode corrosion rate were determined when anodes and waters of different compositions were used at temperatures similar to those in domestic hot water tanks. Twenty different anode materials, sixteen of them magnesium-zinc-aluminium alloys, were immersed in six different synthetic waters resembling those to be found in various parts of Canada. The results showed that (1) both the degree of cathode protection and the average anode corrosion rate are affected materially by the composition of the anode material and of the water; (2) poor cathode protection is associated with low anode corrosion rate; (3) when the cathode is fully protected, the anode corrosion rate may be comparatively low or comparatively high, depending upon the composttion of the water; (4) an important relationship exists between the magnesium content of the preferred anode and the composition of the water; (5) the degree of protection is increased as the SO4 + Cl concentration of the water is increased and thus as its specific resistance is decreased. Introduction Fairly recently, the use of the active metal magnesium for the cathodic protection of less active metals has received a considerable amount of attention. This interest has been stimulated by the fact that the wartime demand for magnesium was greatly in excess of the present peacetime demand and there is a natural desire to continue operating the large magnesium plants which were built during the war. Information regarding the use of zinc and aluminium for this purpose also has been published. There is a great demand for domestic hot-water tanks which will resist corrosion satisfactorily. This problem is rather complex in view of the fact that the composition of the water used in such tanks varies greatly and depends upon the locality. The present investigation deals with the effect of water composition and anode composition on the cathodic protection of steel under conditions approaching those which exist in hot water tanks.

Jan 1, 1948

By K. Iwami, K. Abe

"Onahama Smelter and Refinery has been operated-since 1965 arid currently produces 243,000 metric tons per year of cathode copper. The Onahama tankhouse consists of conventional-type No.1 and 2 tankhouses with the capacity of 123,000 metric tons per year and No.3 tankhouse with 120,000 metric tons per year, adopting jumbo tank system, using hazelett anode respectively.In October, 1996, for the purpose of improving the - anode verticality, new anode copper body press machine has been installed in No.1, 2 tankhouses; by increasing Walker type anode copper weight by 35kg to 365kg. Consequently, it is possible to raise current density from 191 to 222 A/m2 and the No.1 and 2 tankhouses capacity was increased by 15,000 metric tons per year to 138,000 metric tons per year.At present, the refining capacity is 258,000 metric tons per year in total including No.3 tankhouse.This figure is the largest one in Japan.IntroductionSince the Onaham tankhouse was put into operation in 1965, the cathode copper production has increase with much labor cost saving.The following two cases to increase Walker type anode copper weight by 35kg to 365kg were studied.a) To increase the cathode copper production by raising current density.b) To save the labor cost by prolonging the anode cycle in order to decrease the exchanging time of electrodes.So the electrolytic tests were carried out to confirm· the effect of current efficiency, cathode copper quality and working conditions for space adjustment.As a result, we concluded that it was indispensable to introduce the anode body press machine to keep usual current efficiency and cathode copper quality with same workers, and to be possible to increase cathode copper production.In addition, the high-speed press machine was needed to maintain same working time and which specifications were decided through various investigations. In October 1996, the new anode body press machine made by Kawazoe Machine Works, Ltd. has been installed in No.1 tankhouse."

Jan 1, 2000

By Menglong Bian, Xiaotong Dong

Thermal damage is an urgent problem faced by deep mining. High-temperature rock mass, hot water and electromechanical equipment are the sources of the thermal damage. The increase in air temperature in mine tunnel is the result of fluid–solid coupling heat transfer from various heat sources. This paper takes a roadway with hot water and a mine car as the research object. Based on the Fluent, Static Structural and Steady-State Thermal modules in ANSYS, the thermal-fluid–structure coupling analysis in the roadway is carried out. It is found that the hot water has a significant effect on the thermal environment of the mine. Under the experimental parameters, the maximum heat flux density and equivalent elastic strain at the interface between the hot water and the rock are 9789.3 W/m2 and 0.00054532 m/m, respectively. The heat flux distribution in the rock area near the mine car does not change much, and the equivalent elastic strain value in this area is high. After the air is heated in the hot water area, the temperature curve changes gradually and then rises steadily. By changing the inlet air temperature parameter, it is found that the lower the inlet air temperature, the better the cooling effect, and the change of the inlet air temperature can change the air temperature field in the roadway as a whole. By changing the parameter of inlet air speed, it is found that higher wind speed brings better cooling effect, but with the increase in wind speed, the cooling effect of roadway thermal environment is very limited. When the wind speed increases from 5 m/s to 10 m/s, the air temperature of most measuring points drops by more than 2℃; when the wind speed increases from 15 m/s to 20 m/s, the air temperature of most measuring points drops below 0.7℃. After the wind speed reaches a certain value, the cooling effect of ventilation is very limited.

May 5, 2022

By Q. Cao, A. Pitts, L. Nastac

Accurate prediction of the desulfurization behavior of steel is of great importance for process control during ladle metallurgical furnace (LMF) steel refining. A CFD model capable of simulating multiphase flow with bulk and free surface turbulence phenomena and desulfurization behavior in the gas-stirred ladle has been developed. The fluid flow behavior shows that slag and metal try to entrap each other, forming a two-phase mixing zone. The resulting substantial contact area between the two phases will provide very favorable kinetic conditions for chemical reactions. For reaction kinetics model, the reactions at the metal/slag bath interface as well as the entrapped droplet surface are included. Predicted results show that the sulfur content changing with time in the ladle agrees well with the industrial-scale experimental measurements.

Mar 1, 2017

By R. D. Joseph

This report deals exclusively with roof-fall accidents that occurred during 1955 and 1956 in both anthracite and bituminous-coal mines throughout the United States. The report stems from a cooperative study conducted by the Bureau of Mines and the Roof-Control Committee of the Coal-Mining Section, National Safety Council. The study includes an analysis of individual accident reports, sets forth the measurable factors, and compares such factors with a representative sample of average data from 39 anthracite mines and 117 bituminous mines (appendixes A and B). Particular emphasis is placed on fatal roof-fall accidents with respect to their causes, locations, and the methods of support used at the point of occurrence. INTRODUCTION The purpose of the report is to classify all measurable details of the occurrences of roof-fall fatalities so that the material presented will assist those promoting safety and will serve as a manual for those whose principal duty is inspection of mines.

Jan 1, 1958

By John Nagy

The Bureau of Mines adapted thermal theories explaining combustion of gases to correlate parameters affecting ignition of dust dispersions. The dust dispersions were ignited in a Godbert-Greenwald furnace at atmospheric pressure. Ignition temperature and the concentrations of fuel, admixed inert powder, and atmospheric oxygen were related mathematically. Values for these parameters obtained in laboratory experiments for cornstarch agreed with theory. The developed equation permits extrapolation; the predicted upper igni-tion limits correspond with limited experimental data from laboratory and large-scale tests. Explanation of the effect of fineness of dust on ignition parameters is attempted by introducing a surface-area constant to modify the activation energy. Arguments are presented to show that the ignition process is a solid-gas phase reaction rather than an ignition of prevolatilized gases.

Jan 1, 1966

By Whiten W. J

A simulation model was used to study the performance of various types of screen cloth on industrial vibrating screens. The model takes into account the effect of loading upon screen performance and predicts both themass flow rate and size distribution of the screen products.It was found that the use of the simulation model allowed the reconstruction of data for identical conditions and hence has simplified the analysis of the comparative performance of the screens. The dependence of performance upon operating conditions was found to vary markedly with screen cloth type.

Jan 1, 1977

By B. L. Razzaboni, P. Bolsaitis

"The formation of reactive oxygen species resulting from the interaction of silica dust particles with red blood cell membranes was investigated; particularly, the effect of surface hydroxyl (silanol) group concentration on the rate of formation of such reactive oxygen species was investigated. The rate of formation was measured indirectly through the effect of catalase, a hemoprotein peroxidase, on silica-induced hemolysis. It was found that the addition of exogenous catalase to erythrocytes markedly reduces the hemolysis caused by silica particles. Furthermore, the amount of catalase required for deactivation of silica per unit area of particle surface is lower for fumed silica particles and calcined crystalline particles than for uncalcined, crystalline silica, suggesting a correlation between the concentration of OH groups at the silica particle surface and its potential for generation of H2O 2• The addition of albumin, a copper chelator, also decreases hemolysis. These results suggest that the hemolysis caused by silica particles is at least partly related to the formation of H2O2 at the particle surface and its subsequent reaction with Cu+ ions. The relationship between the concentration of surface silanol groups on the silica surface and the amount of catalase required to decrease hemolysis may also provide a method for testing potential fibrogenicity of respirable dusts. IntroductionReactive hydroxyl groups on silica surfaces are known to be cytotoxic and are believed to play a major role in silicosis (1-9). It has been proposed that this cytotoxicity results from hydrogen bonding to cell membranes and a resulting increase in membrane fluidity and permeability (4). Surface hydroxyl groups on silica surfaces have also been shown to interact with carbonyl oxygens in cell membranes (1,5). An extensive study by Nolan et al. (6) of the relationship between the negative surface charge resulting from ionized silanol groups and the hemolytic activity of crystalline a-quartz (Min-U-Sil) has shown a positive correlation between hemolytic activity and the surface concentration of silanol groups. These authors demonstrated that the hydrogen bonding of polyvinyl-N-oxide (PVPNO) with silanol groups, as well as the bonding of metal cations to the ionized sm- groups, results in significant decreases in hemolytic activity. Furthermore, it has been found that the complete removal of surface hydroxyl groups from the surface of respirable silica particles nearly eliminates the hemolytic potential of silica (7), suggesting that hydroxyl groups might be involved in other cytotoxic processes associated with silica-induced lung injury. Reactive oxygen species have been .implicated in cellular damage caused by respirable silica particles. Evidence for the presence .of oxygen radical species (02, OH°, H2O2) generated by silica, especially on freshly formed surfaces, has been produced by various investigators. Kalbanev et al. (8) detected H2O 2 in aqueous suspensions of quartz. Electron spin resonance and spin trapping by Shi et al. (9) confirmed the presence of OH"" radicals in aqueous suspensions of quartz, and Gulumian and van Wyk (10) suggested that both glass and quartz produce hydroxyl radicals in the presence of H2O 2 • Gabor et al. (11) detected the presence of malondialdehydereactive lipid peroxides (i.e., lipid-0°) in cultures of macrophages and respirable silica particles using the thiobarbituric acid (TBA) reaction test. Will (12), however, reported that iron enhances the TBA value of peroxidized lipids, and Scheulen and Kappus (19) found that catalase augmented malondialdehyde formation, thereby increasing the TBA values."

Jan 1, 1990

By Jiang Feng, Li Chuanhua, Zhang Libo, Peng Jinhui, Ju Shaohua

Solvent extraction of Cu2+ from the leaching liquor contain Cu and Fe use a microfluidic technology. Currently, the conventional copper extraction process has many problems such as long distance and small driving force of mass transfer. In order to solve the problems, studies are carried out on the extraction process of low grade copper leaching liquid using Lix984N as an extractant with a new microfluidic solvent extraction technology. The effects of flow rate on the separation and extraction efficiency between Cu and Fe are studied, and the results show that a steady liquid-liquid interface of laminar flow is form in the micro-extractor, and extraction efficiency is 78 % and 2.5 % for Cu and Fe at the contact times of 0.84s respectively. Besides, the separation coefficient between Cu and Fe is as high as 140.04. The studied microfluidic technology has the advantages like improving extraction efficiency and reducing reaction time and providing the potential application in the hydrometallurgy extraction of Cu.

Jan 1, 2015

By Jenq-Gong Duh, Jyh-Wei Lee

"Hard chromizing process is a method for developing a surface modified coating providing wear, corrosion resistance and high temperature surface protection. Two carbon steels with 0.45 wt% and 0.95 wt% carbon contents, respectively, were chromized with pack cementation process at 950'C for 4 and 9 hours, respectively. The phase transformation and microstructure phenomena of chromized coating layer and matrix of two steels were studied with X-ray diffractometer and electron probe microanalyzer. (Cr,Fe)23C6 and (Cr,Fe)7C3 carbides and (Cr,Fe)2N1-x nitride phases were observed on the chromized surfaces. The thickness of chromized layers obeyed the parabolic rate law. The mechanism and diffusional kinetics of the chromizing process were proposed. The diffusivity of chromium in the (Cr,Fe)7C3 carbide phase was calculated using the moving boundary method.IntroductionChromizing process is one of the surface treatment technologies that can produce a chromium contained surface layer with sufficient corrosion and wear resistance on the steel matrix [1-7]. The relatively low cost and no ""line-of-sight"" restrictions are main advantages of chromizing. Adequate bonding strength of these coatings to the substrate was reported [7]. Chromizing process can be classified into soft chromizing and hard chromizing [2]. Soft chromizing is applied to steels containing less than 0.1wt% carbon through which chromium will be diffused. High temperature oxidation resistance improvement is the main purpose of soft chromizing process. On the contrary, the hard chromizing can be applied to steel containing more than 0.3wt% carbon, and very hard chromium nitride and carbide layers will be formed on the surface, which are very resistant to wear, corrosion and temperature [5-7]. In the previous studies on the Fe-Mn-Al-Cr alloy [5,7] and carbon steels [6], the thickness (X) of chromizing layers was analyzed and found the parabolic rate Jaw prevailed:"

Jan 1, 2004

By Dong G. Chae

A model for the leaching of oxide ores is developed and II correlated with laboratory tests for percolation leaching of copper oxide are. Using the model, recovery of metal values and lixiviant concentration of the effluent solution at any time may be evaluated. For the copper oxide ore a simplified version of the model is examined for the leaching mechanism consisting of: 1) a surface flush reaction with the highest rate of lixiviant consumption; 2) penetration of lixiviant to react with copper minerals and gangue constituents; and, 3) slow lixiviant consumption, mostly by residual gangue materials. The simplified model is able to explain reasonably the leaching behavior of copper oxide ore by introducing a concept of effective initial size to correct for packing in a bed of fine particles.

Jan 1, 1979

By E. Goris Cervantes

"A theoretical framework based on a detailed analysis of mine operations data from an oil sands mine in northern Alberta and the static simulation of truck cycle times are developed, verified, and validated in this paper. Implementation of this framework provides better results than existing tools that rely solely on manufacturer data. This, therefore, aids in efficient equipment planning for the life of the mine. The use of this framework to modify existing productivity curve estimation methods currently in use at the mine site is also proposed. This method replaces “loaded flat haul” with “loaded effective flat haul” in the productivity estimation. Validation of the model results in a 4% overestimation of productivity, versus an underestimation of more than 10% when using the existing in-house method. ¦ KEYWORDS Equipment planning, Life-of-mine (LOM) planning, Oil sands, Productivity, Truck cycle times RÉSUMÉ Un cadre théorique fondé sur une analyse détaillée des données relatives aux activités minières d’une exploitation de sables bitumineux dans le nord de l’Alberta et la simulation statique des temps de cycle des camions sont développés, vérifiés et validés dans cet article. La mise en oeuvre de ce cadre offre de meilleurs résultats que ce que proposent les outils existants, lesquels se basent uniquement sur des données des constructeurs. Ceci contribue donc à une planification efficace de l’équipement pour des projets relatifs à la durée de vie de la mine. On propose également de se servir de ce cadre pour modifier les méthodes d’estimation de la courbe de productivité actuellement utilisées sur le site minier. Cette méthode remplace le concept de loaded flat haul (la distance parcourue par des camions avec un chargement du point de collecte jusqu’au point de déchargement des résidus miniers) par celui d’effective loaded flat haul (la distance relative parcourue par des camions avec un chargement du point de collecte jusqu’au point de déchargement des résidus miniers) dans l’estimation de la production. La validation du modèle résulte en une surestimation de 4 % de la productivité, par rapport à une sous-estimation de plus de 10 % avec la méthode actuellement utilisée en interne. ¦ MOTS CLÉS planification de la durée de vie de la mine, planification de l’équipement, productivité, sables bitumineux, temps de cycle d’un camionINTRODUCTION One aspect that differentiates oil sands mines in northern Alberta from conventional hard-rock mining is the environment in which they operate. Due to ground characteristics, producers in the region experience roads with very high rolling resistance (RR) that, in turn, negatively affect haul-truck performance and greatly increase fuel consumption and emissions. Oil sands mining companies use some of the largest haul trucks in the world. In addition, oil sands mines cover more extensive areas than hard-rock pits, resulting in longer haul distances on roads made of comparatively more viscous material."

Jan 1, 2019

Discussion of the paper of C. W. Goodale and J. H. Klepinger, presented at the Butte meeting, August, 1913, and printed in Bulletin No. 50, August, 1913, pp. 1935 to 2010. PROF. JOSEPH W. RICHARDS, South Bethlehem, Pa.:-Mr. Chairman, I would like to call attention to one valuable feature of the paper which may interest some: I have worked a good deal with the Pitot tube, and have always had difficulty with what is called the static end of that apparatus, so much so that I became almost hopeless of securing good results with it. I find here, however, what is stated to be a perfectly satisfactory static end for the Pitot tube, satis factory under probably all conditions. I congratulate Mr. Klepinger on the design of that tube and the consequent improvement he has made in the technical measurement of the volumes of gases. I would also like to ask if the total volume coming out of the chimney per day could not be computed by chemical analyses of the SO and SO2 in the gases, and calculation on the basis of the known weight of.. sulphur going out in a day; so that the Pitot tube measurements . could be checked by a method independent of measurements in the flues. J. H. KLEPINGER :-I think the volume of gases could be determined in that way. Those of a chemical turn of mind would go. about it so, but I am not enough of a chemist to follow that method, and consequently I always look at the mechanical way to obtain the results.

Jan 11, 1913

By C. Hosten, K. V. S. Sastry, D. J. Kawulok-Englund

Introduction Since the last decade the iron ore processing industry has undergone drastic changes from supplying screened and natural ores to manufacturing tailored concentrates and pellets. Increased need for the beneficiation of lower grade iron ore deposits and the increased demand for higher grade concentrates necessitate finer grinding of iron ores before concentration. The normal filtration stations used in the past are experiencing difficulties in dewatering the finely ground concentrates to moisture levels acceptable for balling. In addition to finer grinding, applications of complex beneficiation techniques has decreased the filterability of the concentrates and create problems in filtration of iron ore concentrates. An overview of the filtration literature indicates there are few research reports on the dewatering of iron ore concentrate slurries. There exists a need to understand the principles and mechanisms involved in the filtration of iron ore concentrate slurries with a goal of developing more efficient filtration techniques. This paper presents the results from the first phase of our research program that included the development of a reproducible benchscale filtration technique and the investigation of the filtration behavior of eight iron ore concentrates.

Jan 10, 1983

By M. B. B. Research Council of Alberta Crockford

Introduction Kootenay strata of Lower Cretaceous age contain much of the highest rank coal produced in Alberta. These strata outcrop in the foothills and mountains of southwestern Alberta and southeastern British Columbia, and the economic value of the coal seams contained in them was evident to the earliest explorers, who refer co them in their journals. Lacer, investigation of the .coal measures was undertaken by prospectors and by a succession of geologists, most of whom were in the employ of the Federal government, but some acted for private interests. Surveys by these men proved chat foothills and mountain regions hold immense quantities of high-grade coal within easy reach of transportation facilities, and their conclusions have accelerated the development of the coal-mining industry m Alberta. Among geologists who have contributed much to our knowledge of the region are J. M. Dawson, G. M. Dawson, R. C. McConnell, D. B. Dowling, J. D. Mackenzie, B. Rose, J. R. Marshall, B. Rose, J. R. Marshall, B. R. McKay, J. A. Allan, and J. L. Carr. The present paper is to a great extent a compilation of the work of the above men and of several others who have investigated the area lying between Bow river and Crowsnest pass. Space does not permit a list of all the sources of information so chat only chose of prime importance are given in the text. Data for the map and ?cross-sections of Figure 1 were taken from the following published maps of the Geological Survey of Canada: Cascade Coal Basin, Pub. 933; Canmore, Maps 322 and 323; Upper Elk River and Upper Highwood Rivers, Pub. l980; Blairmore, Pub. 1584; Southfork Coal Area Map l03A; and of the Research Council of Alberta: Highwood-Elbow Area, Map 20; and Ribbon Creek Area, Map 21. In some cases, the cross-sections have been simplified or otherwise altered, and for these revisions the writer cakes full responsibility. The stratigraphic sections of Figure 2 have been taken from published reports of the above mentioned organizations. The area covered in this paper is shown in Figure l. It is wholly within Alberta, and reaches from township 5 to township 27 and from range 1 co range 11, west of the fifth meridian. Its location is about fifty miles west of both Calgary and Lethbridge. Topography of the area ranges from foothill on the east to mountainous on the west. In this paper' the foothill region is considered to be chat which lies immediately east of the most easterly mountain ranges, such as Livingstone and Highwood. There are two principal coal mining districts in the area, one served by the main line of the Canadian ?Pacific railway and centring about Canmore, the other by a branch line of che same railway and centring about Bellevue, Blairmore, and Coleman.

Jan 1, 1949

By George H. Willis

In the second half of the 19th century, bimetallism progressively was replaced by gold standard. After World War I and the 1931-33 depression, gold was mainly reserved for official international transactions and internal use was restricted. Changes since 1971 have shrunk official international use of gold. International payments deficits and surpluses are now financed by Private and official credit, rarely by gold. This historical review covers evolution of: (1) internal and external private use, (2) internal official use, (3) external official use, (4) its role in the International Monetary Fund, and (5) use as unit of account. For this paper I have tried to take a longer perspective than is usually possible, and to look, even if very briefly, at the changing relationship of gold to the monetary system over the last 200 years or so. There are, I believe, some long-term trends, continuing down to the present day. These trends have seen gold replaced by some form of paper assets in one monetary function after another. These past trends may help us to understand where gold stands now, and possibly will throw some light on the future. Because it seems to me that gold in the past has performed various functions related closely or marginally to money, I have divided this rapid historical review into several sections: (1) the internal and external private use of gold, (2) the internal official use of gold, (3) the external official use of gold, (4) gold and the International Monetary Fund, and (5)gold as a unit of account.

Jan 1, 1980