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By Irving Cadoff, Kurt Komarek, Edward Miller

Barium can be purified by equilibration with titanium. The melting point of barium was found to be 726.2° i 0.5 °C. The room-temperature lattice parameters of BaTe and Bask are 7.004 * 0.002A and 6.600 * 0.002A. Melting points for BaTe and Base were found to be 1510° * 30°C and 1830° ± 50°C, respectively. HIGH-purity barium and its compounds are difficult to prepare because of the reactivity of barium with the atmosphere and the large heats of formation of the compounds. Purification of barium by vacuum distillation,' and the preparation and properties of barium oxide2 and barium sulfide3 have been reported. However, little has been done on the homologous compounds barium selenide and telluride. PURIFICATION OF BARIUM Distilled barium obtained from King Laboratories was used as the starting material. The analysis supplied with the metal showed the presence of: 0.4 wt pct Sr, 0.001 pct Mg, 0.02 pct F, 0.003 pct Cu, 0.005 pct Na and less than 5 x 10-3 wt pct of any other metallic impurity. Analyses for oxygen and nitrogen were not available. Since there is evidence4 that any barium nitride present in the starting material may decompose on distillation producing nitrogen which can contaminate the distillate, further purification was performed. At elevated temperatures, any nitrogen and oxygen present in barium should be removed by reaction with titanium. Assuming that the solubility of oxygen in liquid barium is negligible near the melting point of barium, any oxygen present will be in the form of BaO. Removal of oxygen from molten barium is expressed by the equation: BaO(S)+ TixOy(S) = Ba(l)+ TixO(y+1)(s) where Ti,Oy and TixO(y+1) are solid solutions of oxygen in titanium. At 1000°C, the change in free energy for this reaction is negative for (y+1)/x +y+1) x (100) 17.5 at. pct O.5 Since reaction with commercially pure titanium (containing 0.07 wt pct oxygen) results in a free energy change for the reaction of -19 kcal per g-atom, slight solubility of oxygen in barium would not hinder the oxygen removal. Since comparable thermodynamic data are not available to permit calculation of the partition of nitrogen between liquid barium and titanium, a similar quantitative relationship cannot be obtained. However, on the basis of work by Kubaschewski and Dench,5 complete removal of nitrogen from liquid barium can be expected. Since the melting point of barium is depressed markedly by small additions of nitrogen,' the change in melting point during reaction of barium with titanium was used to follow the purification reaction. MELTING POINT OF BARIUM A 50-g sample of barium was sealed by arc welding under argon into an all titanium crucible provided with a thermocouple well. The melting point of the sample was determined by thermal analysis, using a Pt/Pt-10 pct Rh thermocouple which was calibrated according to National Bureau of Standards specification6. The crucible was then heated for 48 hr at 950°C in vacuum and the melting point redetermined. This procedure was repeated until three successive thermal analyses agreed within ±0.5oC, the limits of error of the analysis. The melting point increased from an initial value of 720.0°C to a final value of 726.2°C. Analysis on samples quenched from 950°C gave a solubility value of 0.004 wt. pct Ti. Assuming that the titanium-barium phase diagram is similar to those of titanium-magnesium7 and titanium-calcium,8 the solubility of titanium in liquid barium decreases with decreasing temperature. Therefore, the solubility of titanium in liquid barium should be less than 0.004 wt. pctat the melting point (726oC), and the effect of dissolved titanium on the melting point would be negligible. Addition of up to 3 wt pct Sr does not significantly change the melting point of barium,7 so that the effect of the 0.4 wt pct Sr in the starting material will also be negligible. The value of 726.2" ± 0.5C obtained for the melting point of barium can be compared .with a determination carried out by Keller and coworkers in low-carbon steel crucibles,' who obtained a value of 725± 1C, using barium purified by fractional distillation. The higher value obtained in the present investigation is indicative of the effectiveness of titanium in removing traces of nitrogen. PREPARATION OF BaTe AND Base The compounds were prepared by direct reaction

Jan 1, 1961

By S. Froes

Official daily output of the Reconcavo (Bahia) oil fields, which amounted to 300 bbl., increased by the end of 1944 to 500 bbl. The new productive wells are in the district of Candeias. This figure is expected to further increase during 1945. The Itatig Company, which had drilled five wildcats in the state of Sergipe, stopped in 1944, but intends to resume work during the current year, or as soon as the war is over, in order to try the Cretaceous areas around its salt deposits. Several concessions applied for in the states of Sao Paulo, Parana arid Santa Catarina were favorably considered by the Conselho Nacional de Yetroleo, which is interested in fostering prospecting activities in the country. Several national groups are interested in exploring the federal gas field of Aratu (Bahia), a proposal having been made to use the gas in the manufacture of Portland cement. Undoubtedly the most important fact in the 1944 activities was the visit by two outstanding petroleum geologists, who had the opportunity to examine some of the principal areas and reported their opinions to the Brazilian Government. By special courtesy of the U. S. Government, Mr. E. DeGolyer spent a few weeks inspecting the gas and oil fields of the so-called "Reconcavo" of Bahia (a large tract surrounding All Saints Bay, on whose shore lies the city of Salvador) Later he exchanged ideas with Colonel Joao Carlos Barreto, President of the Conselho Nacional de Petrolco, as to the most adequate measures to develop production. Considering the oil problem in the southern part of Brazil, in the sedimentary belt including formations from the Devonian to the Triajsic, Mr. DeGolyer suggested a visit there by Mr. Lemis MacNaughton. The latter traveled during the months of June, July and August, accompanied by Brazilian geologists Avelino de Oliveira, Vice-president of the Conselho Nacionial de Pctroleo, Pedro Moura, Annibal Bastos, Burdot Dutra and J. Felicissimo, and verified the actual possibilities of the region, thus confirming the opinion of Pedro Moura, Avelino de Oliveira and Froes Abreu as to the advisability of thoroughly prospecting the south of Brazil. It is to be hoped that on the recommendation of these proficient American experts the Brazilian Government will take the necessary measurcs to carry out a complete search 01 such areas, which hitherto have been unsuccessfully drilled because knowledge of the structure was not adequate. The old Government policy of monopolistic essence has now given way to the more enlightened tendency of reconciling official action with private enterprise, which should in no way be curbed but rather encouraged. Such trend is heartily welcomed by financiers and technicians alike, who realize how indispensable is the cooperation of private capital, both national and foreign, in

Jan 1, 1945

The cables brought the news last spring that the Institute had lost by death one of its most distinguished foreign members, Hjalmar Sjogren of Stockholm. For thirty-one years, Professor Sjogren had been one of our number. He was elected in 1891, joining the Institute at the time he was in the United States, in attendance at the Fifth International Geological Congress, which was held in Washington in the late summer of that year. Professor Sjogren was once more in America in 1906 and again in 1913, and on both of those visits his friends in New York had the welcome opportunity of extending courtesies to him. He was thus well known to a wide circle in our membership. His keen interest in the geology of iron ores brought him in touch with the many Americans who have studied them and who have been active in the important productive districts which he visited. Our Transactions contain (Vol. XXXVIII) one very important paper of seventy pages on the Geological Relations of the Scandinavian Iron Ores, which he contributed. Sten Anders Hjalmar Sjogren, to give his full baptismal name, was born June 13, 1856, and was the son of Anton Sjogren, a mining engineer, at the time in charge of the iron mines at Persberg, in the east and west iron-ore belt of central Sweden, about 160 miles west from Stockholm. The Persberg orebodies yielded magnetite and specular hematite from schists, with which limestones. were interstratified as well as the peculiar Swedish rocks called "halleflinte." The mines were also well known to collectors and students of minerals. While Hjalmar Sjogren was yet a lad, his father was advanced to the superintendency of a number of famous mining localities in this same district of Wermland. Paisberg, famous for its native lead, was one; and two others, Langban and Nordmarken, were among the most prolific sources of interesting minerals in all Sweden. In several localities, the pre-Cambrian limestones had obviously experienced the recrystallizing influences of intrusive igneous rocks and had been charged with the so-called "contact" minerals, which have found their way to the museums of the world. Anton Sjogren, the father, was a keen mineralogist and Hjalmar, the son, grew up in a favorable environment for receiving training and enthusiasms of the same sort. One is not surprised, therefore, to find Hjalmar Sjogren, in the long run, turning to mineralogy and geology as his final career.

Jan 1, 1923

The cables brought the news last spring that the Institute had lost by death one of its most distinguished foreign members, Hjalmar Sjogren of Stockholm. For thirty-one years, Professor Sjogren had been one of our number. He was elected in 1891, joining the Institute at the time he was in the United States, in attendance at the Fifth International Geological Congress, which was held in Washington in the late summer of that year. Professor Sjogren was once more in America in 1906 and again in 1913, and on both of those visits his friends in New York had the welcome opportunity of extending courtesies to him. He was thus well known to a wide circle in our membership. His keen interest in the geology of iron ores brought him in touch with the many Americans who have studied them and who have been active in the important productive districts which he visited. Our Transactions contain (Vol. XXXVIII) one very important paper of seventy pages on the Geological Relations of the Scandinavian Iron Ores, which he contributed. Sten Anders Hjalmar Sjogren, to give his full baptismal name, was born June 13, 1856, and was the son of Anton Sjogren, a mining engineer, at the time in charge of the iron mines at Persberg, in the east and west iron-ore belt of central Sweden, about 160 miles west from Stockholm. The Persberg orebodies yielded magnetite and specular hematite from schists, with which limestones. were interstratified as well as the peculiar Swedish rocks called "halleflinte." The mines were also well known to collectors and students of minerals. While Hjalmar Sjogren was yet a lad, his father was advanced to the superintendency of a number of famous mining localities in this same district of Wermland. Paisberg, famous for its native lead, was one; and two others, Langban and Nordmarken, were among the most prolific sources of interesting minerals in all Sweden. In several localities, the pre-Cambrian limestones had obviously experienced the recrystallizing influences of intrusive igneous rocks and had been charged with the so-called "contact" minerals, which have found their way to the museums of the world. Anton Sjogren, the father, was a keen mineralogist and Hjalmar, the son, grew up in a favorable environment for receiving training and enthusiasms of the same sort. One is not surprised, therefore, to find Hjalmar Sjogren, in the long run, turning to mineralogy and geology as his final career.

Jan 1, 1923

Jan 1, 1942

By Arthur F. Taggart

In 1900, Elmore found that if an acidulated pulp was stirred up with an oil which was relatively insoluble in and lighter than water, and the mixture was allowed to stratify, much of the sulfide would be found hanging to the lower surface of the floating body of oil and could be skimmed off or overflowed with it. The action of the flotation agent here is twofold, first to select the sulfide from the gangue—what today is called collection—and second, to buoy the collected sulfide away from the gangue. The action in collecting is illustrated by Fig. 1: which contrasts the behavior of drops of oil brought, under water, to the surfaces of gangue and sulfide particles, respectively. The oil displaces water from the surface of the sulfide; the water displaces oil from the gangue surface. If, instead of considering the solid particles the fixed parts of the system of oil, water and solids. we consider the oil and water fixed and the solids presented to the surface of contact, the condition will be as shown in Fig. 2; the sulfide tends to be drawn into the interface and the gangue to be excluded. The sulfide particles are held in the oil-water surface by the tension of this surface. The buoyant effect is supplied by the oil droplets in bringing the sulfides to the water surface, but not in holding them there. Gas as Buoyant Medium of Flotation In 1906 Sulman. Picard and Ballot discovered a practical and substantially fool-proof method of doing what Everson, in 1886, and Fro-nlcnt. DeBavay Bessel and Elmore had been doing in the intervening years, viz.: using gas in place of oil as the buoyant medium for flotation, but retaining oil as the agent. To all of these inventors "oil," with no qualification as to its kind and no true understanding of its function, was the important thing. Hut they placed on the oil an additional burden viz.: froth-making, and it soon became apparent that not all oils were suitable for the dual purpose. As a matter of fact, it is probable that each of these inventors knew only one suitable oil at the time he wrote his patent, but used the generic term in the patent with the usual idea

Jan 1, 1928

Jan 1, 1906

Jan 1, 1925

IRON AND STEEL COMMITTEE ALBERT SAUVEUR, Chairman. A. A. STEVENSON, Vice-Chairman. HERBERT M. BOYLSTON, Secretary, Abbot Bldg., Cambridge, Mass. John Birkinbine, William Kelly, J. S. Unger, William H. Blauvelt, Charles Kirchhoff, Felix A. Vogel, James Gayley, Richard Moldenke, Leonard Waldo, Henry D. Hibbard, Joseph W. Richards, William R. Walker, Henry M. Howe, C. F. W. Rys, William R. Webster, Robert W. Hunt, E. Gybbon Spilsbury, Frederick W. Wood. J. E. Johnson, Jr.,

Jan 1, 1914

Following the declaration of a national emergency by the President on Dec. 16, 1950 the Office of Defense Mobilization was established with Charles Wilson as director. It has been obvious since the entry of Red China into the Korean War that the previous defense setup was not adequate for accelerated mobilization.

Jan 2, 1951

Executive HOWARD N. EAVENSON, Chairman FREDERICK M. BECKET EDGAR RICKARD ERLE V. DAVELER WILLIAM WRAITH Finance HENRY KRUMB, Chairman PAUL I). MERICA J. V. W. REYNDERS H. G. MOULTON, Consultant Admissions JOHN M. LOVEJOY, Chairman GEORGE D. BARRON DONALD M. LIDDELL ELI T. CONNER WILLIAM W. LYNCH Alternates WM. H. BASSETT, JR. L. B. LINDEMUTH W. A. SINSHEIMER

Jan 1, 1934

By J. WILLIAM WETTER

WHEN the privilege was extended to me to address this meeting I could not help but make a mental review of my own activities and experiences in connection with association work. After having spent about 16 years in the mining engineering field, I entered into the operating branch of coal mining which afforded, about 12 years ago, my first opportunity of attending a meeting of our local Association and sitting in with the "big boys" of the industry. This was quite a thrilling experience because I had heard a great deal about the various operators who belonged to the Association and knew, or at least thought I knew, that a certain group dominated its affairs and that a "clique" was in control of a sizable "roller" which could be "steamed up" at will to flatten out any opposition which might appear upon the horizon or under it, too, for that matter. Now, I was to have the privilege of observing this "clique" at first hand, of seeing a small group making the policies and shaping the destinies of a great industry and planning the activities of an important Association while a large majority of the members would sit by either complacently or otherwise with the full knowledge that the "roller" was in waiting to reduce them to ribbons at the first sign of resistance.

Jan 1, 1930

PRESIDENTS DAVID THOMAS 1871 R W RAYMOND 1872-1874 A L HOLLEY1875 ABRAM S HEWITT 1876 T STERRY HUNT 1877 ECKLEY B COXE 1878 - 1879 WILLIAM P SHINN 1880 WILLIAM METCALF 1881 RICHARD P ROTHWELL 1882 ROBERY W HUNT 1883 JAMES C, BAYLES 1884-1885 ROBERT H RICHARDS 1886 THOMAS EGLESTON 1887 WILLIAM B POTTER 1888 RICHARD PEARCE 1889 ADAM S HEWITT 1890 JOHN BIRKINBINE 1891-1892 H M HOWE 1893 JOHN FRITZ 1894 J D WEEKS 1895 E G SPILSBURY 1896

Jan 1, 1923

Recognizing the fact that the problems of the committee named by the Board to prepare the "official ticket" for officers and Directors of the Institute are various and difficult; and desiring to assist this committee by setting forth some of the principles that should guide the committee and some of the qualifications that should be required of candidates, the following instructions are formulated and the Secretary is directed to publish them in MINING AND METALLURGY concurrently with the publication of the names of each newly appointed Nominating Committee and to send a copy to each member of the Committee

Jan 1, 1943

By Fred W. Gordon

It is my purpose to call attention to the close approximate correctness of certain coefficients and formulas concerning the flow of gases, and their applicability to the practical construction of flues and

Jan 1, 1886

By D. K. Deardorff, Earl T. Hayes

An improved technique is described for the accurate determination of melting points of metals in the temperature range 1500' to 2500°C. The improvements consist of gradient heating and refinements in cavity preparation to obtain true black-body conditions. The melting point of hafnium, as determined by this method, is set at 2222°±30°C. This is over 200°C higher than one of the values reported earlier. Discrepancies in the previously reported values for the melting point of hafnium are explained. The melting points of zirconium and titanium are found to be 1855O±15OC and 1668°±10°C, respectively. Reproducibility of results was ±3OC. PRIMARILY, this report is being made to correct a 1975o±25oC1 value for the melting point of hafnium, and to present an improved method for melting point determination. As a matter of interest, the technique was also applied to determining the melting point of zirconium and titanium. There is a wide difference in the melting point of hafnium as reported by competent investigators. DeBoer and Fast' reported a value of 2230°±500C, and later work of McPherson, as reported by Aden-stedt, placed the melting point at 1975o±25oC. Zwikker" calculated that the melting point was 2430°C. In resolving this discrepancy, improvements were made in the procedure for determining the melting points of refractory metals in the range 1500" to 2500°C. Special techniques are necessary to determine the melting point of these metals accurately. Since the metals oxidize in air above 900oC, the determinations must be carried out in an inert gas or vacuum. Also, every known refractory contaminates them to some extent. In addition, the attainment of true black-body conditions is always difficult. DeBoer and Fast actually determined the melting point of Hf-Zr as-deposited iodide process alloys and extrapolated to 100 pet Hf. McPherson employed a tungsten wire suspension similar to that described by Schramm, Gordon, and Kaufmann,1 and used hafnium metal produced by the iodide process. There was no apparent reason for the wide spread in melting points, since the quality of the metal was very good and the work was under the direction of highly competent investigators. Retracing some of this work revealed one understandable error in the case of hafnium, and led to development of an improved technique for determining melting points of reactive metals in the range 1500" to 2500°C. Material Crystal bar hafnium, zirconium, and titanium were used for this work, with analyses as shown in Table I. The hafnium was of the highest purity that has been prepared, though not as pure as the zirconium and titanium. At the instigation of the Pittsburgh Area Office of the AEC, a special lot of Hfo2 was purified, converted to the tetraflouride, and bomb-reduced with calcium, all at the Iowa State College Laboratories. This crude hafnium metal was then refined by the iodide process at the Foote Mineral Co. All specimens were cut with a Sic wheel, ground, pickled, and dried carefully before use. Procedure General Tungsten Suspension Method—In this method, a small specimen is suspended by a fine tungsten wire in a slender, induction-heated tungsten or tantalum cylinder, all under vacuum. The melting point is determined by heating the specimen slowly while observing it with an optical pyrometer focused upon a portion of the specimen that radiates as a black body. This means that there should be no reflected radiation, either from colder objects near the pyrometer or from hotter surfaces. The induction heater would be the only hotter object and, if it is slender enough, the specimen will attain the same temperature. Often a slender hole is drilled into the specimen as a source of black-body radiation. This was the general method used by McPherson in obtaining his value of 1975°C for the melting point of hafnium. In trying to repeat this work, it was found that the points of contact between the

Jan 1, 1957

By K. A. Gschneidner, O. D. McMasters, T. J. O’Keefe

X-ray diffraction, differential thermal, ad rnetallo-graphic methods were used to establish the Dy-Pb Phase diagram. Lead additions lower the 1377°C transformation temperature of dysprosium to 1360°C leading to an inverted peritectic reaction. The 327°C melting point of lead is lowered by dysprosium additions to about 326°C yielding a eutectic reaction. A second eutectic reaction occurs at 13.3 at. pct Pb and 1200°C. The dysprosium-richest intermetallic compound DysPb3 melts congruently at 1695°C and crystallizes in the hexagonal Mn5Si3 (D8,) type structure. The peritectic decomposition temperatures for the remaining compounds are Dy5Pb, at 1555C, DyPb2 at 955C, and DyPb3 at 880°C. A fifth compound near the DyPb stoichiometry exists over a 310°C temperature range decomposing at 1130°C by means of an inverted peritectic reaction and melting incongruently at 1440°C. The crystal structures of the compounds are discussed. A systematic study of the rare earth-lead alloy systems is underway in an effort to supply information concerning the alloying behavior of the rare earth metals. The Dy-Pb phase diagram is the fourth system to be investigated in this study. The Yb-Pb,1 Y-Pb,2 and Eu-Pb 3 diagrams have been published recently. Utilization of the rare earth series of metals as a research tool in this manner should yield a better understanding of alloy formation. EXPERIMENTAL PROCEDURE Materials. The lead used in this investigation was obtained from Cominco Products, Inc., and was specified to be 99.99 pct pure. The dysprosium was prepared in this Laboratory by the calcium reduction of the fluoride followed by distillation of the dysprosium. The major impurities in the dysprosium in ppm are: A1 (<40), Ca (400), Er (<50), Gd (<200), Ho (<200), Mg (<50), Si (30), Ta (400), Tb (<100), Y (<50), 0 (651, H (15), N (not detected), F (430), C (35). Alloy Preparation. Most of the alloys were prepared by melting weighed amounts of dysprosium and lead in sealed tantalum crucibles. The tantalum crucibles were sealed by are-welding in a He-Ar atmosphere welding chamber. Thus the alloys are in contact with He-Ar at about 1 atm pressure. Homogenization was achieved by holding them in the liquid state for about 1 hr, cooling, inverting the crucibles, remelting, and repeating the process at least twice. Since these alloys were prepared in sealed tantalum crucibles, chemical analysis for final composition was thought to be unnecessary. No detectable reaction of these alloys with the tantalum crucible was observed by metallographic examination. Metallographic evidence was also used to confirm the homogeneity of some of the alloys prepared in this manner. The compositions of a few alloys, which were prepared by nonconsum-able are-melting, were corrected for the small weight losses involved by assuming that the weight loss is due to vaporization of lead. The specimens obtained from the alloy samples were prepared under a dry-argon atmosphere because they were rapidly attacked by air and moisture. Thermal Analysis. Differential thermal analysis methods were used to determine the liquidus curves and reaction horizontals of the system. Both Pt vs Pt + 13 pct Rh and W + 5 pct Re vs W + 26 pct Re thermocouples were used to measure the temperature. An X- Y recorder was used to record the specimen temperature and differential electromotive force between the specimen and molybdenum standard. The arrest temperatures were measured potentiometri-cally. The accuracy limits (* values) associated with the reaction temperatures obtained by this method were estimated on the basis of both the reproducibility of the particular temperature value and the accuracy of the thermocouple at a given temperature. Liquidus temperatures were obtained from cooling arrest data while both heating and cooling arrest data were used to establish the horizontals of the diagram. Heat treatments during the thermal analyses of the alloys between 40 and 70 at. pct Pb were necessary in order to approach equilibrium conditions. The samples were held at temperatures between the various peritectic horizontals for l to 2 hr before the thermal analyses were continued. The entire range of compositions was investigated at the expense of a minimum amount of materials by adding appropriate amounts of lead to master alloys. More than sixty alloys were analyzed by this differential thermal method and for each alloy the results given herein are taken from two or three heating and cooling cycles. X-Ray and Metallographic Methods. Slice specimens for metallography and powder specimens for X-ray diffraction were prepared from rod-shaped samples which had been melted in sealed 0.62 5-cm-diam tantalum crucibles. The specimens were heat-treated in sealed tantalum crucibles which were protected by sealing them in argon-filled quartz ampules. Quenching was accomplished by breaking the ampules in ice water after heat treatment. X-ray powder specimens were sealed in 0.3-mm-diam glass capillaries under a dry-argon atmosphere. Copper, iron, and chromium radiation were used to obtain the powder patterns for these alloys. More than 150 powder patterns were obtained for specimens of various compositions and heat treatments. Included in these were several patterns for specimens which had purposely been oxidized. Patterns from specimens which had been accidentally exposed

Jan 1, 1969

By B. S. Butler

Introduction. THE New London copper mine, about 81, miles east of Frederick, Md., was visited by the Writers for a few hours in the spring of 1909 and the following brief notes on ore specimens collected are presented as a contribution to studies in chalcocite ores. For certain data on the structural and areal geology of this portion of Maryland the writers are under obligation to the unpublished notes and maps of Arthur Keith. The detailed study of the ores is the work of B. S. Butler. The deposit here discussed has many similarities to those of the Virginia district of Virginia and North Carolina, which have been described y Graton1 and Laney2, except that in the deposits of the New London mine chalcocite is by far the most important ore mineral, while in the Virginia deposits bornite is commonly-the most important sulphide. In the New London occurrence calcite is the most important gangue mineral.

Jan 7, 1914

(The following list contains the names of those members of the Institute of whose connection with military service. we have only recently become acquainted; it also includes the names of a few who have recently been promoted or transferred. A complete list was published in the Year Book, issued as a supplement of the Bulletin for March, 1918.) ADAMS, HENRY, Major, Assistant to Department Engineer, North-eastern Dept. ALINE, P. A., Co. C, 316th Supply Trains. * Low-cost cottage construction in America; a study based on the housing collection in the Harvard Social Museum, by Winthrop A. Hamlin. Cambridge, Mass., Harvard University, 1917. (Publications of the Department of Social Ethics, No. 7.) 30 pp., 4 charts. Illus.

Jan 5, 1918

The Joint Economic Committee&apos;s subcommittee on international payments and exchange has recommended that, following international monetary reforms, the law which prohibits private possession of gold by American citizens be repealed. The subcommittee recommendation called for reforms to enhance the role of special drawing rights in international monetary affairs and downgrade the role of gold. Special drawing rights, also known as "paper gold", are on artificial reserve with the International Monetary Fund (IMF) which distributes them to member nations in proportion to their economic importance in the world economy. The special drawing rights are then used to settle debts between nations in the same manner as gold or currency. The subcommittee said that under the reforms now being discussed special drawing rights would be acceptable in lieu of gold among the member countries of the IMF.

Jan 1, 1973