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By P. Chiotti, G. R. Kilp

IN the study of zinc-zirconium1 and zinc-uranium2 systems, vapor-pressure measurements were made in order to establish the equilibrium phase diagrams for a pressure of 1 atm. In each of these systems, only zinc has an appreciable vapor pressure over the temperature range investigated. The zinc pressure was measured over a sufficiently wide temperature and composition range to permit calculation of the standard free energy, enthalpy, and entropy of formation for the compounds ZrZn, ZrZn2, ZrZn3, ZrZn6, ZrZn14 , and U2Zn17. In these calculations the compounds were treated as line compounds. Although the exact composition range was not determined, metallographic and thermal data indicate that the solubility range for these compounds is small. It is to be noted that the compound initially reported to correspond to the formula UZn9, 2 has been shown by the crystal structure work of Makarov and vinogradov3 to correspond to the formula U2Zn17,. The crystal structure is similar to that for the compounds Th2M17, investigated by Florio,4 et al; here M represents iron, cobalt, or nickel. Therefore, thermodynamic calculations are based on the formpla U2Zn17 EXPERIMENTAL The dew-point method employed to measure the vapor pressure of zinc over uranium-zinc alloys has been described previously.2 The same procedure and apparatus were used in measuring the zinc pressure over zinc-zirconium alloys. In the case of alloys in the two-phase region consisting of a zirconium and the compound ZrZn, the Knudsen effusion method was employed to obtain a few values in the temperature range 600" to 560°C. In most cases, tantalum crucibles were used to contain the zirconium alloys. THERMODYNAMIC PROPERTIES OFU2Zn17 A least-squares treatment of the vapor-pressure data obtained for 35 and 65 wt pct U alloys in the temperature range 650° to 940°C gave lOg10PAtm = 7,713/T + 6.33 Here, as in following equations, T represents degrees kelvin and P represents the zinc vapor pressure in atmospheres. The probable errors for the two constants were calculated to be 60.68 and 0.0563, respectively. This relation represents the equilibrium dissociation pressure for the reaction U2Zn17 (s) - 2U(s) + 17Zn(v) The solubility of zinc in solid uranium is negligible and the only additional information required to calculate the free energy of formation of U2Zn17 is the free energy of vaporization of pure zinc. K. K. Kelley5 gives the relations, AF°= 30,902 + 6.03Tlog T + 0.275 X 10-3T2 - 45.03T

Jan 1, 1961

By L. G. Hagenbuch

Several factors need to come together in creating an integrate mining equipment dispatching system. At the hub of these factors ace the central dispatching formulas. This paper details the development of these central dispatching formulas and explores the combining of these formulas with other elements to create an integrated dispatching decision. WHY DISPATCHING? Truck dispatching implies and in reality should equate to mine equipment efficiency. Good truck dispatching will yield good mine equipment efficiency while poor truck dispatching will yield the alternative. Truck dispatching can either be automated through a computerized, process or it can be manual. Every mine with haul trucks has a truck dispatching system whether it is recognized or not. Even a system wherein the hauler operators determine where they are going for their next load is a truck dispatching system.

Jan 1, 1987

By Bjorn Olsson

"Heavy impact. High frequency hammering. Extreme abrasion. Building on the experience of owning and operating its own mines, Ovako has developed a deep knowledge of how vital the right steel properties are in withstanding the extreme loads encountered in every part of the drill string. That is why Ovako’s product development process is focused on understanding the specific load cases and manufacturing operations associated with rock tools.The punishing conditions of percussive drilling can push the limits of most materials. And heavy mechanical loads are only the beginning. Highimpact energies at high frequency are a major source of fatigue. High temperatures result from impact energy losses. And abrasive, erosive and adhesive wear are constant risks. Handling any of these varying demands at a single point along the drill string is difficult enough — which makes optimizing for the entire drilling system an extremely complex challenge. Engineering for specific loadsOvako has specialized over many decades in analyzing the dominant loads for each of the parts and components used in rock tools, and testing for individual applications in its laboratories. The most critical fatigue properties are controlled through the steel metallurgy, and supported by performance measurements through extensive rotating bending fatigue (RBF) testing, along with special methods that combine impact load with various wear loads. The result is a fit-for-purpose steel with tightly controlled performance properties, making it possible for customers to precalculate the expected life time of their components for highly automated and repetitive processes Tailoring steels for the processing route.The same levels of control and predictability must be carried through to the customer’s own manufacturing processes. By ensuring minimal variations in chemical composition, everything from heat treatment and welding to automated machining can be carried out with high consistency. With precisely controlled material properties based on an existing processing route and exact load case, customers are able to minimize their total tool production costs while ensuring optimal performance for their end products. Development of Hybrid SteelBuilding on this experience in the mining industry, Ovako has developed a new steel family, known as Hybrid Steel, designed to meet the demands of high-stress, elevatedtemperature applications where mechanical and fatigue strength are critical. Traditionally, steels for these applications are produced by expensive small-batch processes. Hybrid Steel, however, enables high volume production at a competitive cost.The world of steel has traditionally been divided into clearly separated categories of tool steel, stainless steel and lower alloy engineering steel. Hybrid Steel is now challenging that division, offering attractive properties from all three categories."

Jan 12, 2017

By C. A. Komar

The Bureau of Mines has undertaken an investigation to determine possible applications of acoustic energy at sonic and ultrasonic frequencies to improve ultimate recovery from oil reservoirs. A literature search was conducted to provide background information for initiating laboratory research. The purpose of the literature search was to review the uses that have been made of acoustic energy in the petroleum industry and to select procedures and techniques that could be applied to the solution of petroleum production problems. The characteristics (68)3 of ultrasonic energy make it potentially useful to a variety of industrial and experimental applications. Pulse techniques (99) are common in the testing of materials where inspection is accomplished by propagating an ultrasonic pulse through the material. Viscosity measurements (45) are made by interpreting changes in the absorption of sound as it is propagated through a flowing liquid. Cavitation phenomena (93) produced by high-intensity ultrasound in liquids have been used extensively in industrial cleaning, machining, impact grinding, and aluminum soldering operations.

Jan 1, 1963

By C. W. Smith

The U.S. Bureau of Mines; Tuscaloosa Research Center, in cooperation with the U.S. Army Corps of Engineers under interagency Agreement No. 14-09-0078-1510, conducted a comprehensive sampling program of 10 upland disposal sites along the Alabama, Black Warrior, and Tombigbee River systems in Alabama. Samples from each site were characterized according to particle size, chemical analysis, mineralogical content, and potential end use. Additionally, samples were subjected to the Toxic Characteristic Leachate Procedure to determine the presence of potentially harmful heavy metals. Based on the results of these studies, each sample was determined to have properties amenable for use as aggregate in general-purpose portland cement concretes and certain asphalt concrete applications.

Jan 1, 2010

By Swan. J. D.

Repairing and replacing equipment damaged by corrosion and abrasion is a major cost throughout industry, especially in the coal mining industry. Careful study of corrosion and abrasion, and their causes and effects, often leads to the selection of alternative materials which can provide economies. What, actually, are corrosion and abrasion and how do they contribute to the cost of operating a coal-preparation plant? Furthermore, what can be done to alleviate corrosion and abrasion problems and thereby reduce operating costs? These questions will be answered in the following discussion, which will describe the destructive action of corrosion and abrasion and give several methods for controlling corrosion and abrasion losses, These methods include the substitution of stainless steel for carbon steel, the use of corrosion inhibitors, and the use of design to eliminate corrosion and abrasion. Examples will be given illustrating the benefits that have resulted in plant tests when these methods of controlling corrosion and abrasion were used.

Jan 1, 1970

By T. S. Jr. Sligh

OF all the qualities that are essential in a good cigar tobacco none is quite so important as the burn. This term is general and includes many points, the most important of which are evenness of burn, color of ash, firmness and coherence of ash, and fire-holding capacity. The fire-holding capacity refers to the length of time the leaf or cigar will continue to, glow after ignition. Chlorides tend to prevent complete combustion and products are formed thereby that are injurious to the flavor and aroma. On the other hand, the carbonates of the alkalies, particularly of potassium, aid the combustion and increase the fire-holding capacity. Barth1 thought that the harmful effect of the chlorides was due to their fusing and coating the tobacco, thereby preventing complete combustion. Schlosing,2 Nessler,3 and Garner,4 suggested widely different theories to account for the favorable action of potassium salts. In order to study carefully the action of the various salts upon the course of combustion of the cigar a knowledge of the temperature of the burning cigar is necessary. Lehmann5 who seems to be the only investigator who has made any attempt to determine the temperature of a burning cigar gives 480° C. as the maximum temperature which he recorded. It is evident, however, that his measurements were in error, probably on account of the method and apparatus used, since the lowest visible red corresponds to a temperature of about 575° C.

Jan 9, 1919

By Frank Gómez, Solange Ríos, Jean Valencia

La eficiencia y evolución de las actividades de perforación y voladura son de gran relevancia en la actualidad debido al impacto que causa en los procesos posteriores dentro de las operaciones mineras. Sin embargo, esta actividad unitaria experimenta numerosos problemas operativos debido a la mala elección de la malla de perforación y del explosivo, lo cual causa sobre-excavación, mala fragmentación, dilución y pérdida de mineral, entre otros. El objetivo de este trabajo técnico es optimizar las actividades de perforación y voladura de la Unidad Minera San Rafael aplicando los modelos de rotura y predicción de cavidades.

Sep 30, 2022

By R. V. Ramani, R. Bhaskar

"An airborne dust cloud is an ensemble of particles of varied size, density, shape and states of aggregation. An understanding and quantifying of the dispersion and deposition of the du.st generated in mines is essential to the development of measures for reducing worker exposure to dust.In coal mining, the major portion of the dust is generated during the cutting of coal using a shearer or a continuous miner. The major phenomenon affecting ambient concentration is the deposition of dust. Panicle deposition may take place due to the effect of gravitational, inertial, electrostatic, and thermal forces, and mechanisms such as Brownian and eddy diffusion and inenial impaction. The three major mechanisms of deposition in turbulent flow in mines are diffusion (Brownian and eddy), sedimentation and inertial impaction. The mechanisms determining panicle deposition are size dependent.From a review of the literature, there appears to be a knowledge gap in the understanding of the deposition phenomena in mine airways. In order to obtain a better understanding of the deposition of dust for various particle sizes, and to develop a set of data for evaluating predictive mathematical models/or dust flow in mines, a series of dust-flow experiments was performed under controlled conditions in mine airways. It appears that the deposition data generally follow the theoretical behavior of dust based on the combined effect of diffusional and gravitational deposition. Jn this paper, the findings of the study on the deposition of dust in mine airways and its dependence on size, velocity and concentration are discussed. A set of deposition equations that could be used to determine the approximate deposition at various points in a mine airway are presented.IntroductionThe major factor affecting ambient dust concentration in mine airways is the deposition of dust. Particle deposition may take place due to the effect of gravitational, inenial, electrostatic, and thermal forces, and mechanisms such as Brownian diffusion, eddy diffusion and inertial impaction. The major mechanisms of deposition in turbulent flow in mines are diffusion (Brownian and eddy), sedimentation and inertial impaction. Inertial impaction is significant only during changes in direction, but the change in direction of flow with resultant powerful eddies may cause increased re-entrainment of the particles, thus having a compensating effect. While the literature in aerosol sciences contain several references on deposition, most studies were done in small diameter tubes for diffusional deposition (Liu and Agarwal, 1974). The deposition data from small diameter, short tube experiments may not be applicable to studying deposition in mine airways that have large areas and extend several hundred meters. Further, the change in concentration along the length of a mine airway may significantly affect the deposition an aspect that may not be easily determined in short tubes in laboratory experiments."

Mar 1, 1992

By L. B. Gittinger

Mr, Chairman, members- and guests of the AIMS, I greatly appreciate this opportunity to speak before you. I hope this is just the beginning of a long and mutually beneficial relationship. This winter I decided to join the other 36 Freeporters who belong to the AIME; and, I applied for membership in the Society of Mining Engineers. To queries as to my interests in the Society, I had this answer: our principal challenge -- more so today, than at any time in my nearly 25 years in the industry -- is discovery and development of new sources of raw materials. I want to join you in meeting this challenge.

Jan 1, 1966

By G J. Lyman

Sampling of grain for mycotoxins is challenging in that some mycotoxins, such as Ochratoxin A (OTA), have very low permitted levels and the kernels carrying the mycotoxin may be highly localised within the bulk of the grain as ‘hot spots’. Sampling for genetically modified organisms (GMOs) can be fraught with similar problems, especially if the contamination is adventitious and random. Incremental sampling under these circumstances can be shown to lead to a high variance in the sampling result.A new design of sampler for grain and other free-flowing particulates has been developed that is effective in practically eliminating the sampling variance due to distributional heterogeneity (DH).This paper introduces the design and argues that the sampler should be free of sampling variance due to DH.CITATION:Lyman, G J, 2017. A new sampler for grain and other free-flowing particulates, in Proceedings Eighth World Conference on Sampling and Blending , pp 277–280 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2017

By Gerhard Braüner

The report gives a review of the methods of predicting mine subsidence; these methods are used particularly in European coalfields. The methods are subdivided into two groups, based on mathematical expressions either for the trough profile or for the influence of infinitesimal extraction elements. The fundamental relationships common to all methods described herein are the principles of superposition and of equivalent extraction areas. The involved parameters are derived from field observations. For calculating horizontal displacements, their relation to the slope of the subsidence profile is applied. The time-dependent development of the subsidence process is characterized by the empirical "time factor." Modifications for the case of inclined strata are considered. A brief review of experimental and theoretical model investigations is given.

Jan 1, 1973

By Sah Rameshwar, T. Umadevi, K. S. SRIDHARA

In the magnetite iron ore pelletization process, oxidation of magnetite followed by sintering of the oxidized magnetite (hematite) is desirable. Optimum preheating time & temperature and roasting time & temperature is required to get the desired properties of the pellets with magnetite, hematite, and hematite–magnetite blend. In order to utilize the magnetite resources in a current induration furnace, which is designed for hematite resources, detailed pelletization studies have been carried out to optimize the firing cycle for magnetite concentrate as well as magnetite with hematite concentrate. Under optimum conditions, such as preheating temperature 1000–1150 °C, preheating time 10 min, roasting temperature 1250 °C and roasting time 7.5 min, the cold compression strength (CCS) of magnetite roasted pellets was 325 kg/p, and this was due to recrystallization of secondary hematite particles, and development of the strong slag bond between primary and secondary hematite particles. The strength of hematite concentrate pellets was 260 kg/p. From laboratory studies, it was found that without disturbing the induration furnace firing cycle, which is designed for hematite ore ~5%, magnetite concentrate can be used along with hematite concentrate in pellet blend and the strength of the pellets was 270 kg/p. As the magnetite concentrate increases in the blend beyond 5%, the preheating zone residence time should be increased or a supply of extra oxygen is required. Laboratory as well as plant investigation has shown that the addition of magnetite to the hematite mix blend improved the strength of the pellets compared to hematite pellet alone.

Oct 26, 2020

By Michael S. Miller

In 1985 and 1986, at the request of the U.S. Forest Service, the U.S. Bureau of Mines studied the 17,000-acre Pyramid Peak planning area in order to evaluate its identified mineral resources. The planning area is located in Riverside County, CA, 15 miles south of Palm Springs. The planning area contains marginally economic resources of marble and mica, subeconomic resources of garnet and occurrences of gold and tungsten. The area is underlain by marble, quartzite, schist, migmatite, intrusive rock, and a wide zone of intensely sheared rock. Quaternary stream, landslide, talus, and colluvial material overlie the older rocks. Ten claims for marble in or overlapping the southwest and southeast parts of the planning area are current (1986). Many other current claims are outside the planning area, adjacent to or within 2 miles of the southwest and southeast corners. Hundreds of millions of tons of inferred, marginally economic marble in and near the planning area may be mined for cement or lime after other developed resources near markets are depleted or if large-scale construction or other markets develop nearby.

Jan 1, 1987

By J. T. Eash, N. B. Pilling

As a group, the alloys of iron, nickel and carbon are, in application, one of the most versatile of the ferrous alloy family, and while many investigations have been made of their properties and structure only a few attempts have been made to show the microstructural relation over a wide range of composition. It is necessary at once to be clear about the kind of structural relation with which we are concerned. The equilibrium diagram provides quantitative data regarding structural make-up and its variation with temperature, but equilibrium structures often are far different from the technologically significant ones. This is particularly true of steels and cast irons, and some of the most important components of their structure may have no place in the diagram of equilibrium. The fugitive phases that result from transformation are dealt with in a highly detailed and descriptive manner in the S-curves originated by Bain. The present effort lies in a still different field, which is to portray the relation between sweeping changes in composition and in resultant structure, under controlled but nonequilibrium conditions of thermal treatment. The Guillet1 diagram presented in 1903 was the initial attempt at such a correlation and frequent references to this diagram can be found in the literature even though later work has shown it to require considerable modification. Kase2 published in 1925 a diagram that was based upon observations of furnace-cooled melts. At low carbon contents this diagram agreed fairly well with experience in showing pearlite to exist in alloys containing up to 6 per cent nickel, and completely austenitic steels at 24 to 28 per cent nickel. At high carbon contents, however, irons were indicated as being martensitic at around 2 per cent nickel and austenitic at 12 per cent nickel; these interpretations are open to serious question. Based upon experience with steels and cast iron, Wickenden3 suggested a diagram that agreed fairly well with Kase's in the steel range but which presented a wide departure from it in the higher-carbon, high-nickel regions. In its broad picture, the Wickenden diagram is an approach to "practical" structures. [ ] Reference may be made at this point to the efforts of Marshy to construct an iron-nickel-carbon equilibrium diagram by the coordination of scattered data, which are described at length in the monograph cited. None of these preceding attempts has appeared to meet the need for an exposition of the structural sequence that is encoun-

Jan 1, 1942

By Kenneth L. Rubow, Virgil A. Marple, Bruce K. Cantrell

"In a cooperative study by the University of Minnesota and the U.S. Bureau of Mines, diesel exhaust and mineral dust concentrations have been measured for aerosols generated in the laboratory and in five underground coal mines. Three mines utilized diesel-powered haulage equipment and two used all-electric equipment. Two source apportionment techniques have been applied to differentiate between the mineral dust and diesel exhaust aerosol concentrations measured. The first technique, using a micro-orifice, uniform deposit impactor (MOUDI) for size selective sampling, is based on modeling aerosol size and the premise that the diesel exhaust portion of the aerosol is predominantly submicron and the mineral dust portion is mostly greater that one micrometer in size. The second technique, Chemical Mass Balance (CMB) modeling, was used to referee the analysis of diesel exhaust and mineral dust aerosol concentrations from the size selective sampling results.The MOUDI size distribution data were modeled to obtain parameters describing the fine and course fractions of the sampled aerosol and to estimate the contributions to each mode from both mineral dust and diesel exhaust aerosol sources. The results showed the size distribution of the mixed aerosols exhibited two definite modes with the minimum between the modes occurring at 0.8 µm. Less than 5 pct of the coal mine diesel aerosol was found in the coarse size fraction. CMB analysis confirms the original premise for using aerosol size to separate diesel exhaust and mineral dust aerosol during sampling.Based on the results from the size selective sampling, a personal diesel aerosol sampler has been developed for measuring diesel aerosol mass concentrations. Th.is sampler uses an inertial impactor to size separate the respirable aerosol at 0.8 µm. All material less than 0.8 µm is collected on an after filter for subsequent gravimetric analysis."

Jan 1, 1990

By D. A. Farmen

INTRODUCTION In early 1978, engineering personnel at The Carter Mining Company began using photogrammetry coupled with a computer modeling technique to aid in mine planning efforts. The decision to develop this approach was based on the following needs: 1. A method to accurately capture excavated quantities for reporting purposes, 2. A method to produce accurate up-to-date maps for planning purposes, and 3. A computer-based mine-planning technique that would be compatible with techniques used in the past. The system developed utilizes a photogrammetric contractor to provide thousands of aerially-surveyed data points for input into the computer system. Each month the Rawhide and Caballo mines are flown by the photogrammetric contractor. The terrain of the active pit area is digitized and punched out on computer cards. This information is read into The Carter Mining Company's computer facilities, and an updated two-dimensional topographic grid model of the pit is generated. This surface is used to generate quantities moved during the month, to update isopachs, and to update quantities contained in fixed block progression polygons used for forecasting purposes. The system has greatly reduced the amount of manhours spent in field surveying and provides a useful tool for expeditiously evaluating many different forecast cases. It also provides the

Jan 1, 1983

By S Wright, W Bruckard

The current status of battery collection and recycling schemes in Australia are explored in light of current developments in product stewardship and increasing pressure to decrease materials going to landfill by originating equipment manufacturers. Used consumer batteries, both single cycle and rechargeable contain a mixture of valuable metals and potentially toxic materials that may become a resource/revenue stream to offset the cost of disposal/recycling. Although the volume of batteries discarded in Australia is modest compared to other global population centres, the expected increase in battery use with increasing equipment portability and future developments in the automotive industry, provide an opportunity to recycle. The requirements for a battery recycling facility in Australia and the most promising processing platforms that may exploit the resource with enough flexibility to cope with battery developments and market trends, are explored.

Jan 1, 2006

By M Gasparon, J Harris, T Baumgartl, D J. Williams, M Edraki, P A. Kirsch, D Rowe

RISKGATE, an Australian Coal Association Research Program-funded (ACARP) initiative, has been designed to assist the Australian coal mining industry in improving minimum standards for safety performance, efficiency, operating practice and training. The online system is innovative in that it is built upon a foundation of industry expert knowledge gathered through action research workshops, which is further supported by a broad array of industry, academic and technical resources. In operation, RISKGATE offers a continuum for knowledge transfer and communication of current practice in risk identification, assessment and management in the coal mining industry. The primary mission of RISKGATE is to focus industry attention on prioritising control management as a way to achieve acceptable risk.A Coal Mine Tailings Dam Module has recently been added to the RISKGATE suite. The key risk, or initiating event, associated with coalmine tailings dams is catastrophic failure of the dam, leading to the release of tailings and water. This can occur due to geotechnical instability of the dam itself or of its foundation, overtopping and erosion of the dam, and piping failure of the dam itself or of its foundation. Coalmine tailings dams are also prone to seepage into the foundation and through the dam, particularly during operation when large volumes of water are discharged with the tailings. The most significant risk associated with seepage is the release of potentially contaminated water to the environment. Contamination can take the form of elevated salinity, acidity and dissolved metals. Run-off from coalmine tailings can cause erosion and can also potentially contain contaminants. Desiccation of the tailings surface can result in dust generation and dispersion.The paper presents the background and context of the RISKGATE project, the need for the addition of the RISKGATE Coal Mine Tailings Dam Module, and a description of the developed module, including the five initiating events considered, their causes and associated preventive controls, and their consequences and associated mitigating controls. This paper concludes with a discussion of the ways in which Australia’s coal mining companies are starting to apply the RISKGATE body of knowledge at their sites, which will flow onto the management of their tailings dams.CITATION:Williams, D J, Kirsch, P A, Gasparon, M, Baumgartl, T, Edraki, M, Rowe, D and Harris, J, ?2014. Application of RISKGATE to coal mine tailings dams, in Proceedings Life-of-Mine 2014 , pp 219–230 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

By William F. Butler, Mo-Hung Che

DEVELOPMENT OF MONEY AND MONEY STANDARDS This chapter is concerned with the rise, and then the decline and fall, of gold and silver as monetary metals. As a first step in tracing the history of this process, it is necessary to consider the nature of money, and the manner in which different forms of money have developed over the centuries. The origins of money go back into deepest antiquity. Once men ceased to be pure nomads and entered into even a rudimentary form of society such as clans or tribes, money had to be invented The first step was barter as farmers or hunters swapped their surplus products for things produced by artisans such as shoes, clothing, and simple tools. But such barter trading is inconvenient even in primative societies It is difficult to match up buyer and seller at any point in time There are problems in arriving at viable and acceptable terms of exchange. The accumulation of savings-wealth-is complicated. No one can be sure that a pile of furs, or wheat, or certainly fish or game can be used in the future to trade for other goods or services. So even prehistoric man saw the need for money. There was a need first for something to serve as a medium of exchange This was an essential first step in the process of specialization-or the division of labor. A farmer, a hunter, or a shoemaker could only devote his full efforts to his trade if he could be sure that he could exchange his surplus production for the other things he needed for existence. This required a medium of exchange-a form of money which would be broadly acceptable. Money was needed for two other reasons Some system of market prices was essential to facilitate the exchange of goods and services. This required some form of common denominator-some standard of value-to govern the exchange process. And there was also need for something to serve as a store of value, a place to put any excess production (savings) with the assurance that it can be used in the future to acquire a general range of goods and services. As a result, money, in one form or another, developed at a very early state in civilization. Yet the centuries have been marked by a search for a form of money which will possess in full measure all of the attributes in money-a reliable and universally acceptable medium of exchange, standard of value, and store of value. -A wide variety of things have been used as money at one time or another: shells, beads, stones, feather, metals, and even the teeth of sharks and dogs. Some of these things were obviously of little or no practical value. They were used because people had confidence in their continued acceptance as a medium of exchange. As the world evolved and as trading ex-

Jan 1, 1976