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By Leon Dominian

I. INTRODUCTION APART from local needs in the country's development, the interest attached to Turkish fuels grows chiefly out of the importance of the railway industry in Asiatic Turkey. Geographical conditions make of the tracks in this region the most essential link in a chain of world-girdling lines. By its position Asia Minor can be likened to a bridge in the through routes destined to connect European factories with Asiatic and African markets. An uninterrupted right-of-way from points in central Europe to populous Indian cities must necessarily pass through the valleys A Anatolia. Crossing thence the Taurus Mountains its natural passage is indicated as the Mesopotamian lowland and the shores of the Indian Ocean. Similarly land connection between Europe and Africa can be obtained only by passage through Asia Minor, Syria and Palestine. The occurrence of fuel within an area of such significance from the

Jan 6, 1916

AMONG the features that make Inspiration of outstanding A interest, particularly to the engineer, is the fact that at various times it has used, as a major method of production, three more or less distinct methods of mining and three distinct methods of treating its ores. The following chronology is of interest : Major Mining Methods: 1915-194 7 Underground block-caving, exclusively 1948-1952 Underground block-caving and opencut mining 1953-1954 Underground block-caving, opencut mining, and "glory-hole caved-block transfer" mining 1955 on Opencut mining and "glory-hole caved-block transfer" mining. Major Ore Treatment Methods: 1915-1925 Flotation concentration exclusively 1926-1930 Flotation concentration and ferric sulphate leaching 1931-1955 Ferric sulphate leaching (the so-called "Dual Process" was used for eleven months in 1937 when demand for copper was phenomenal; and the "leach-float" process was used for 24 months in 1942-44 as an expedient to help meet war demands for copper). 1956 on "Dual Process" combining a sulphuric acid leach followed by fine grinding and flotation of the residue from the leaching vats.

Jan 1, 1957

By Robert Anderson

The diffraction of x-rays by cold-worked and heavily polished surfaces of metals gives, no evidence of an amorphous state and typically perfect crystallographic diffraction' patterns are obtained. Severely cold-worked metals, reduced as much as 98 per cent. in area, give true crystallographic diffraction patterns, and polished surfaces of large single crystals of metal give typical crystallographic patterns. The conclusion is drawn, on basis of x-ray evidence, that metals are fragmented on cold work and polishing and not amorphized. THE purpose of this paper is to report evidence, regarding, metal: structures, that is contradictory to the amorphous-metal, hypothesis of Beilby, and particularly evidence that is opposed to the proposition that a vitreous amorphous layer is produced by polishing a piece of metal. According to the theory of Beilby, which has been developed, by Rosenhain and others, polishing a piece of metal greatly affects the condition of the metal at or near the surface polished, making that surface entirely different in character from the metal beneath. A vitreous amorphous surface film is said to be formed. The polishing process, on the basis of Beilby's explanation, is well known-and does not' require discussion here, but it is advisable to seek the precise meaning of,., the term "amorphous." According to Beilby, "amorphous means. Non-crystalline in the most intimate sense of the word'; the molecules are not marshalled in crystalline order and orientation." According to Rosenhain, the amorphous condition is that assumed by a metal when, the .crystalline arrangement is completely broken up so that the atoms exist in a state of disorderly arrangement similar to that ;which exists in the liquid state. Thus, from the point of view of the phase rule, the "amorphous phase" is regarded as being identical with the liquid phase. Amorphous metal is often likened to an undercooled liquid. A crystalline substance is one in which the atoms are arranged in space according to some definite repeating geometrical pattern. The existence of amorphous metal has not been definitely proved.

Jan 1, 1925

By S. S. Shen, M. J. Pool, P. J. Spencer

Heats of solution of silver and copper in dilute Ag-Cu-Sn alloys at 720°K have been determined using a liquid metal-solution calorieter. Values of the se2f-interaction coefficient n AgAghave been calculated at constant copper concentrations and n Cu Cuhas been determined at constant silver contents. The reliability of the experimental data is shown by the very good agreement between nCujAg and ij &$; these interaction coefficients have experimental values of -9100 and - 9590 cal per g-atom, respectively. Certain solution models are shown to be inadequate for prediction of solute interaction coefficients in dilute Ag-Cu-Sn alloys. In a previous publication' the results of a thermody-namic study of dilute Ag-Au-Sn alloys were presented. The present work represents the continuation of a program to investigate dilute alloys of the noble metals with tin and in particular is concerned with solute interactions in the Ag-Cu-Sn system. By determination of the magnitude and sign of the various interaction coefficients in dilute alloys it is possible to gain some understanding of the different types of solute-solute and so lute-solvent bonding changes that occur as the solute concentrations are varied. Hence systematic studies of alloys with similar physical characteristics as regards size, structure, electronegativity, and so forth, of their components can contribute a great deal to present theoretical knowledge of solutions. The recent definition of an enthalpy interaction coefficient, 11, by Lupis and Elliott2 is of particular value in calorimetric studies such as the present one: where j and i are solutes and s is the solvent; Si is the relative partial molar enthalpy of component i and x represents the mole fraction of solute or solvent. Values of ?Hi can be obtained directly by solution calorimetry and data for n are thus easily determined, often with a high degree of accuracy. ?Hi is related to the relative partial molar enthalpy at infinite dilution, ?Hi and to the enthalpy interaction coefficients by the expression: ?Hi?Hi + X;nz+ ... [2] The aim of the present work was to determine the self-interaction coefficients n AgAgand 178: in alloys of different compositions and also to establish values for n Agcg| and ncuAg. Since it is a thermodynamic requirement (resulting from the Maxwell-type relationships which can be applied to partial molar properties) that nAgcu and ncuAg should be equal, a further aim of this study was to demonstrate the agreement between experiment and theory. EXPERIMENTAL A description of the liquid metal-solution calorimeter used in this research has already been published,3 and no further details of its construction and operation will therefore be given here. Copper supplied by the American Smelting and Refining Co. was indicated by them as being 99.999 pct pure, and the silver obtained from A. D. Mackay, Inc., was also quoted as being 99.999 pct pure. A solvent bath consisting of between 70 and 80 g of 99.99 pct pure Sn was used for each series of experimental drops. Its weight was accurately determined and the appropriate amounts of copper or silver were added to give alloys of the desired composition. Approximately 0.00125 g-atom additions were used for determinations of the heat of solution of silver in the bath, while, for copper, specimens consisting of approximately 0.0015 g-atom were used. The heat capacity of the bath was determined at regular intervals during a series of drops using tin or tungsten calibration samples. The heats of solution of silver and copper in pure tin were first determined as a function of their concentration in order to establish the self-interaction coefficients 7AgAg and ncucu Alloys containing a constant 0.01, 0.02, 0.03, and 0.04 mole fraction of copper were then used to study 17:: in alloys of different copper content, while alloys of the same mole fractions of silver were used to determine equivalent data for 178: at constant silver concentrations. The composition of the bath was held at the desired copper or silver concentration by making calculated additions of the appropriate solute throughout the experiment. From the limiting values of ?HAg in the constant copper content alloys it was possible to study ?HAg as a function of xCu and hence to determine 42:. A similar analysis of the re, values permitted calculation of nAgcu. Heat content and heat capacity data from Hultgren et al* were used to calculate heat of solution values from the measured heat effects at the experimental temperature of 720°K. RESULTS AND DISCUSSION Determinations of ?HAg. A preliminary investigation of the heat of solution of silver in pure tin at 720°K was first made in order to establish the value of nAgAg before additions of copper were made and also to compare the value of ?HOAg(l) with that obtained in the previous study of Ag-Au-Sn alloys.' Then the heat of solution of silver in Cu-Sn alloys was investigated as a func-

Jan 1, 1970

By B. M. Larsen, W. E. Shenk, T. E. Brower

Shortly after our previous paper on this subject was printed1 we located a source of uncertainty in the results arising from the unexpected fact that hydrogen slowly reduces silica at 1100" C. in presence of iron, even when the iron nowhere touches the silica, although in absence of iron it does not do so. This difficulty has been completely obviated by the use of a small high-frequency furnace, which enables us to heat the specimen for analysis without raising the temperature of the silica vessel to a point at which any appreciable reduction of the silica glass occurs. We now describe this modification of procedure, and present some typical results obtained with it. For any given specimen of steel, the results are entirely definite and reproducible, but their precise significance is still open to some question, as indeed is true of all methods of oxygen determination SO far developed. Further elucidation of this question is to be expected from the cooperative comparison of the several methods now under way under the auspices of the Bureau of Standards at the instance of the Iron and Steel Division of the A.I.M.E. Apparatus The final form of apparatus we have used is identical with that described and illustrated in our previous paper, except for the substitution for the Globar furnace of a small high-frequency furnace actuated by a vacuum tube oscillator2 0f about 1.5 kw. capacity, and for a slight modification of the containing vessel. This transparent silica vessel is illustrated in Fig. 1 of this paper. Its enlarged portion is about 5 cm. in diameter and 13 cm. long. The silica tube for inlet of hydrogen is fused into this bulb and ends beneath the metal "bucket" holding the steel sample. This sample is in the form of fine millings. The "bucket" is suspended by a platinum wire from the cap of Pyrex glass. The high-frequency

Jan 1, 1934

By R. Thiessen

The question whether the kind, rank and grade of coal is in any way determined by the kind or type of plant from which it originated has been a problem since coal was first studied. Some investigators claim that the kind of plants has contributed none of the attributes that characterize the differences found in the various coals; others claim that all differences are caused by the contributing plant; and others hold that only a few characteristics are inherited from the kind of plant from which the coal originated. Most coalologists, however, give this matter no thought. It can easily be shown that the kind of plant which contributed to a coal had a marked influence on its kind and type. A number of factors enter into this problem, and all unrelated ones must be carefully eliminated, including metamorphism caused by the pressure of the cover, earth movements, mountain building and higher temperature. Only the fundamental substance—the plants out of which coal was formed—• and the causative conditions that gave rise to a peat swamp and the conditions imposed upon the plant and the plant substances during the formation of the peat swamp can be considered. Everything else being equal, the question then is, how far do different classes and types of coal owe their differences to different kinds or types of plants? Geologic Age of Coal Coal has been laid down in almost every geological period since the Devonian era. Even as early as the middle Devonian some coal was formed; although of no value it has great scientific significance. The most valuable coal was deposited during the Carboniferous. The coals of England were formed during the Mississippian, and most of the valuable coals of America, Europe and China during the Mississippian and chiefly the Pennsylvanian. From the Permian come the coals of France, Saxony, Thuringia and Schwarzwald in Germany and of Bohemia and of the Ural districts of Russia. From the Mesozoic come the coals

Jan 1, 1930

THE SECRETARY The year 1917 has been a notable one in Institute affairs. The usual activities, including meetings, publications, local section interests, library service, and so-forth, have been continued on at least the same scale as previously, and in addition the resources of the Institute have been placed without stint at the service of the Nation, not only for the active prosecution of the military side of the war, but even more especially in the industrial operations which form the very basis of modern warfare. The officers and directors of the Institute have labored both officially and individually, while the Institute as a body, through committees of, prominent members, and through many individual members, has given freely. Finally, Institute funds have been appropriated to an amount exceeding $5000 to accomplish the cooperation with Government bureaus, and provide committee expenses necessary for performing the services that have been given. The President of the Institute had a very large personal share in many of these activities, which will be described in the following pages, as well as in the President's own report. Many of the Institute's members are giving their whole time for. $1 a year, or less, and especial mention should be made of Herbert C. Hoover, Food Administrator, W. L. Honnold, Head of the Commission for Relief in Belgium, Mark L. Requa, Petroleum Administrator, Edgar Rickard and Charles W. Merrill of the Food Administration, S. A. Taylor of the Fuel Administration, W. L. Saunders, B. B. Thayer and Joseph W. Richards who .are giving a. large share of their time to the Naval Consulting Board, W. Y. Westervelt, W.0. Hotchkiss and Harvey S. Mud of the War Minerals Committee, David W. Brunton of the War Committee of Technical Societies, and hundreds of others whose names are mentioned in the Honor Roll of Members. It has also been a notable year in cooperation with sister-societies. The most important event under this head was the accession of the American Society of Civil Engineers into the fraternity of Founder Societies.

Jan 2, 1918

By A. J. Lyon, J. B. Johnson, Samuel Daniels

The wrought alloys of aluminum with small amounts of copper and of magnesium have, with the development of the automotive and aircraft industries, sprung into prominence through the medium of duralumin; but the cast alloys remained in the background because their possibilities in the heat-treated condition were either not recognized or not fully investigated. In 1919, the Bureau of Standards published a preliminary survey1 of this field, which pointed out that, in general, the ultimate strength and the percentage of elongation of the alloys of aluminum with and without magnesium could be improved by so simple a treatment as heating at 932' F. (500" C.) for 2 hr., cooling in air, and aging at room temperature for several days. British investigators, too, working with chill-cast material, found that" considerable improvement in the mechanical properties of copper-aluminum alloys may be obtained from suitable heat treatment applied to castings."' Jeffries and Gibson8 made the first contribution to the literature dealing exclusively with the heat treatment of sand-cast aluminum-base alloys, describing the effect of small additions or of combinations of copper, magnesium, and iron on the response to a short heat treatment comprising heating at 932" F. in a nitrate bath for 1 hr., quenching in fish oil, and reheating at 300' F. for for 1 hr. Their results disclosed the facts that the ultimate strength and the percentage of elongation of sound alloys were usually, and quite uniformly, improved by heat treatment; that with the iron content ranging between 0.36 and 0.88 per cent. and the silicon content between 0.24 and 0.60 per cent. the effect of increasing the copper content (Tables 10

Jan 1, 1925

By Carl F. Dietz, Dyke V. Keedy

The problem of drying ores is one that most mill-engvineers are sooner or later called upon to meet, and it may be timely to point out some of the difficulties resulting from such operations from purely a metallurgical and economic standpoint. We mean, in the following pages, to discuss primarily the effect of such operations on the ore. itself, without particular reference to the mechanical or cost features of the subject. That an appreciable tonnage of the ore fed to the usual form of drier, either rotary or stack, is lost, is fairly well appreciated, but we believe that only a few mill-managers know just what their drier-losses amouilt to, and we have found that in most cases they console themselves with the fact that the drier-smoke is not very much discolored, and it is generally believed that the draft is not sufficient to carry away more than a negligible percentage of the values.

Jan 1, 1913

BOSTON SECTION ALFRED C. LANE, Chairman, GEORGE A. PACKARD, Vice-chairman, E. E. BUGBEE, Sec'y-Treas., Mass. Inst. of Technology, Cambridge, Mass. R. L. AGASSIZ, FRED W. DENTON. Forty-sixth Meeting The forty-sixth meeting of the Boston section was held at the University Club on Monday evening, Jan. 28, 1918. Thirty-six members and guests were present, which is a record for this Section. After a good dinner, President Philip N. Moore, of the Institute, was introduced, and spoke of the many problems of the Institute. The topics covered were the progress and growth of the Institute during the administrative year, the efforts to stimulate the local sections and to bring them more in touch with the policies and problems of the parent body and, last but not least, of the constructive results and patriotic work of the Institute in the national service of the war. The other guest of the Section, Mr. Thomas Nelson Perkins, Counsel for the Priority Board, spoke most entertainingly of recent experiences in Russia, England and France. After considerable discussion during which Mr. Perkins most obligingly answered innumerable questions, the meeting adjourned at about 10 p. m.

Jan 7, 1918

By Charles H. Jacoby

During the past three decades an ever increasing number of uses for underground storage space has been developed. In some instances, the value of the space created has been so great that the host rock has been wasted. The preferential use of salt to host underground cavities is based on numerous factors, the primary two being low extraction costs and low permeability. Both dry and solution mined cavities have been created for the storage of a variety of materials. As the demand for underground storage and disposal grows, so must our selectivity of the materials to be stored.

Jan 1, 1985

By Albert R. Ledoux

In Great Britain all analytical chemists are styled assayers, but in the United states a slight distinction is made, assayers being considered those analytical chemists who have chiefly to do with the determination of the precious metals. There have grown up around the assayers of precious metals a number of customs and traditions which, as a rule, do not fetter American chemists when called upon to determine the composition or constituents of any samples submitted to them for analysis. In Great Britain, on the other hand, trade-customs even go to the extent of enforcing the employment of an admittedly erroneous atomic weight in certain alkali-determinations. If the American chemist is asked to determine the amount of lime in a water, potash in an alkali, or silica in an ore, the owner of the sample does not presume to suggest what method he shall employ, nor does he question his report on the ground that he should employ another method. But even in America it is different with the assayer. Unfortunately for the guild, as well as for those who have to base business operations on the reports of assayers, customs and traditions as well as divergent interests seek to circumscribe him in his choice of method and sometimes dictate how he shall perform his operations. This was true at one time of copper, which to-day in England is still determined by the so-called Cornish fire-assay, an attempt to imitate in the laboratory the various metallurgical operations in the smelting-works; but nowhere in this country is the assayer forced to employ any particular method for determining copper so long as his certificate indicates the true total percentage of copper in the sample. It is true that both buyers and sellers demand use of the electrolytic method, but only because it is the most accurate. In America the trade accepts the assayer's statement as final, and makes

Jan 1, 1895

[NOTE.-The following discussions of papers contained in this volume are printed without regard to order of succession. It has been impracticable to secure from the various parties, corrected reports of their contributions in time to effect any particular desired arrangement in this respect. The papers of Messrs. Pourcel, Osmond and Sauveur, were considered at Chicago together with others of cognate character ; and the whole discussion will be found in vol. xxiii., under the head, " Physics of Steel."]

Jan 1, 1894

By James E. Reynolds, Duane N. Goens, Charles W. Kenney

A process for recovery of lead and silver from high-grade lead sulfide concentrates by dry chlorination and fused salt electrolysis was developed by Hazen Research, Inc., for Cyprus Metallurgical Processes Corporation (Cymet). A pilot plant was designed to handle mixed sulfide concentrates and to produce high purity lead in a 2,000- ampere capacity fused salt cell. Design of the dry chlorinator and fused salt cell is discussed. Integration of modern chlorine caustic cells for reagent generation was evaluated in the pilot plant program. Also included in the paper will be process chemistry; pilot plant flowsheet, equipment and data: by-product and impurity removal: and scaleup and economic considerations for the process.

Jan 1, 1977

By Earl R. McMillan

Though much has been written during the past several years about the Russian success in using hydraulic jets for coal mining, little or none of the published information, in so far as this writer has observed, has been of any use or practical application in this country. It is true, according to their published reports, that the Russians were pioneers in the use of high-pressure water jets in the mining of coal. They report the use of water jets for this purpose as early as 1936. However, according to a survey of foreign literature on the subject made by the U.S. Bureau of Mines1 a few years ago, water jets in the USSR, as well as in other nations including New Zealand, Poland and West Germany, were used principally to sluice the loosened coal after it had been previously drilled and blasted, rather than to cut or break it from the solid face. The interest of the Northern Pacific in the potential application of a high-pressure water jet to the actual extraction of coal, particularly in steeply dipping beds, originated in a visit by this author to the operations of the American Gilsonite Co. at Bonanza, Utah, in March 1958. After seeing the extraction, on a commercial basis, of gilsonite from a 22-ft wide vertical vein of this solid material with a 3/8-in. diam stream of water under approximately 2200 psi, it was felt that, with some modifications, water jets were the solution to the problem of economically mining the steeply dipping (i.e., steeper than 20º) coal beds in the State of Washington.

Jan 6, 1962

C. G. Dunn (Generai! Electric Research Laboratory)— The author is to be commended on his attempt to calculate the residual strain energy from information on the dislocation density within the subgrains and a surface energy associated with the subgrains. However, much closer agreement between a calculated critical size of a nucleus and the observed size of grains that did not continue growing can be obtained if a reasonable correction is made in obtaining the energy of the surfaces of the subgrains. For example, since the sample is a single crystal with a cold-rolling reduction of 70 pct in thickness, one needs either an average disorientation for this or an average subgrain boundary energy rather than the 2.5 deg disorientation of a bent crystal, which was used by the author. From either the Laue photographs of the author or the pole density plot of Koh and Dunn 16 for a (113) [332] cold-rolled crystal the

Jan 1, 1961

By Edward Wisser

The environment of an ore body is taken to mean not only its physical surroundings but every factor, passive or active, that conditioned the ore shoot, saving only the original composition of the solutions that formed the shoot. Collection of data related to the shape and characteristics of veins should be followed by correlation of the data and the formulation of generalizations regarding ore formation. The nature of the criteria used in arriving at these generalizations is discussed. Certain of the criteria, when used with an understanding of their underlying causes, become "ore-guides." In the course of his study the geologist must not confine himself to the immediate surroundings of the veins, but should attempt to work out the geologic history of events culminating in the crucial epoch for any mining district, the period of mineralization. The work may involve study of features far removed from the veins and related to them only indirectly. It commonly means thorough study of the geology of the entire region surrounding the ore deposits. The following question has been suggested for discussion: "Are there any criteria by which one can determine when mining operations have reached the roots of an ore deposit?" The question deals less with the roots of a particular ore body than with the lower limit of the vertical range within which ore bodies may be expected. It concerns a critical line upon the longitudinal vertical projection of a vein.† Below this line it is useless to look for ore shoots; above the line exploration below the bottoms of individual ore shoots may be justified. Can we learn to determine the position of such a line? In some multivein districts the line for any given vein may be approximated by simple interpolation or extrapolation. Where this is possiblc the bottoms of the lowest ore shoots in the various veins are points on an imaginary, gently rolling surface. The trace of this surface upon the vein is our critical line for that vein. The imaginary surface rolls so gently that it may be projected from two or more known veins to an unexplored vein near by. Here is a criterion for the bottoming of ore that has nothing to do with changes in the appearance of the vein in question; it rests solely on the depth at which the ore bottomed in adjacent veins. The method is not applicable in districts only slightly explored in depth, nor where the lower limit of the ore-bearing horizons

Jan 1, 1941

By Richard H. Willey

Efficient handling of large tonnages in open-pit mining demands, primarily, an abundance of well fragmented rock. To accomplish this, a drilling and blasting department composed of a well-knit, versatile group of workers and supervisors must be established. Some costs will remain relatively on the same level over a period of years, while others can be greatly lowered as will be shown. 'The Utah Copper Division, Kennecott Copper Corp., Bingham Canyon, Utah, has been ever alert for improvements in operating methods and equipment to gain increased efficiency and lower costs. Bingham Canyon MIne The greatest dimension of the mine is 8000 ft northeast-southwest with a width of 5000 ft southeast-northwest. From the lowest level, at an elevation of 6040 ft above sea-level, the mountain rises in 27 benches on the west side to W level (elevation 7800 ft) and 21 benches on the east side to Q level (elevation 7460 ft). At the inception of open-pit mining in 1906, the overcapping of leached porphyry had to be removed to reach a commercial grade of sulphide ore. The overcapping or waste now remaining is quartzite with intercalated limestone beds. The limestones are usually soft in nature except in the south-middle portion of the mine where they have been meta-morphized along the contact zone. This area usually gives drilling and blasting operations a great deal of trouble. Here occurs the greatest amount of secondary blasting, as the well-established fracture planes cause the altered beds to break into large boulders. Several massive quartzite "ribs" occur in the overburden, and as a result, the uniform breakage is difficult to obtain. The major quartzite areas have been subjected to complex folding, fracturing and faulting because of the intrusion of the underlying stock. The monzonite porphyry, which carries the commercial values, presents no serious drilling problem because of its softness and extensive minute fracturing throughout the mass. A series of major slips or faults pass through the ore body which, although of considerable advantage to the drilling and blasting department, sometimes works to the disadvantage of the track department. Drilling an11 blasting of the porphyry apparently becomes easier as depth is attained. but highly siliceous streaks throughout the pit still present difficulties. At no place is the rock of such character as to allow excavation without preparations. On certain higher elevations or levels, old fill material can be dug by the shovels, but only at some risk to equipment because of bank slippage. Past Methods At the outset of shovel operations in 1906, drilling was done with the Ingersoll-Rand F-24 piston drill mounted on an un-

Jan 1, 1949

By A. G. McGregor

DURING the past 5 years, five new copper-smelting plants have been built and put into operation in the State of Arizona. The monthly copper output from these plants averages from 5,000,000 to 18,000,000 lb. Previously, there never was as much activity in copper-smelting plant construction in the same length of time in all the rest of the world. Naturally, in this amount of work, some new problems were met and new features in plant design and. equipment developed. Some of these features are described in this paper. CONCENTRATE HAULING, UNLOADING AND SAMPLING SYSTEM (a) Concentrate Car The International Smelting Co. has provided at its plant at Miami specially designed cars for hauling the concentrates from the mills of the Inspiration Copper Co. and the Miami Copper Co.. The car has a bottom that is readily made tight to hold flotation concentrates and is quickly and cheaply unloaded. Figs. 1, 2 and 3 show views and details of the car. The main feature of this car is the slot in the bottom throughout its length, which is closed by means of short planks that overlap like ship-lap as shown by Fig. 1. At one end of the car an iron gate operated by a screw and hand wheel is provided, which clamps or presses the planks together, making the bottom tight. A removable tapered plug rests vertically over this gate when the loading of the concentrates at the mill commences.

Jan 8, 1916

By Charles White Merrill

Money is one of the most .pervasive elements in human life. The compensation for a workman's daily efforts is expressed as a wage and is measured in money. What an individual may consume depends largely on his income which also is expressed in terms of money. If he would start an enterprise its size would be determined in large part by the amount of money available for capitalization and its success would be measured in net income expressed in money. In short, the most widely used common denominator for comparing merchandise, real property, jobs, enterprises, gross national product, or personal success is money. Despite this use of money by almost everyone past infancy to express his appraisal of the in- numerable values he sees around himself, the complexity of the device called money makes its nature and workings a mystery to most users. Some of the difficulty in understanding money results from the fact that it has three distinct but interrelated functions: (1) a medium of exchange, (2) a unit of account, and (3) a store of value. In many statements about money the discussion moves from one function of money to another without the speaker or the listener recognizing the changes. For example, the housewife says "We took the money we had saved up to make the down payment and after twelve monthly payments the television will be ours." When this housewife spoke of "saving up the down payment" she referred to money in its function as a store of value; when she spoke of "the down payment" she was using money as a medium of exchange; and when she referred to the "monthly payments" she spoke of money as a unit of account. Another cause of confusion in understanding money is its paradoxical nature in that it represents both the power to produce and the power to consume. For example, when the rich uncle dies one nephew may regard his inheritance as an opportunity to buy a farm and leave the ranks of the wage earners to become an independent producer, whereas the other nephew may regard his portion as the means of living in complete leisure as a pure consumer.

Jan 1, 1959