Search Documents

One of the papers under this head covers the sampling and estimating of iron ores of the Lake Superior region as a whole while the other four papers cover the Gogebic, Marquette, and Menominee Ranges of Michigan and the Cuyuma Range of Minnesota.

Jan 1, 1925

By M. A. Hosmer, Job Goostray, R. F. Harringon

In this paper, as in so many discussions of an historical nature, there is little chance for original material and much has had to be rewritten from older papers, documents, accounts, reports, and the like, some of which are of doubtful authorship or contain conflicting statistics. Fully aware of these pitfalls, the authors have tried to quote the origin where possible, and also to seek further confirmation when the statement warranted it, but they cannot assume responsibility for certain facts and dates. The Encyclopedia Britannica was frequently consulted. The authors wish to acknowledge assistance from Mackintosh-Hemp-hill Co. (formerly the Fort Pitt Works) and also from officials of the Watertown Arsenal who loaned valuable books and gave much necessary information. They are particularly indebted to Colonel Dickson of that institution. The data on modern guns were furnished by Mr. F. Brauer of the Watertown Arsenal; Mr. H. S. Chaffee assisted by obtaining records and data of work carried on by the Builders' Iron Foundry of Providence, R. I. Three Epochs in History of Cannon Among the great industries of New England, the manufacture of iron was the first to receive attention. Iron ore in considerable quantities was known to exist within the territory of the Massachusetts Bay Colony; and as early as 1629 some steps appear to have been taken toward the manufacture of iron by the Court of Assistants in London, under whose patronage the colony was founded. During the next ten years, deposits of bog ore were found in numerous ponds in the Plymouth Colony; and, in 1652, iron manufacture was begun at Raynham. The "Old Colony" was known as the main seat of this industry in New England, out of which grew a concern which was later to become one of the principal

Jan 1, 1925

Jan 1, 1925

The greatest mining center in the state of Utah is the incorporated town of Bingham about twenty-five miles southwest of Salt Lake City. The principal industry of this vicinity, prior to the early fall of 1863, was lumbering and the first saw-mill in the state was built near the mouth of Bingham Canyon. Early in the fall of that year. George B. Ogilvie discovered gold and shortly afterward the first mining district in the state was organized. Some writers place the discovery of gold in the canyon in the late fifties. If this be so, however, the matter was kept extremely quiet because no mining was engaged in until after Ogilvie's discovery. Bingham was a placer mining camp, producing about one million dollars' worth of dust and nuggets from placers up and down the canyon and in Bear Gulch until early in the seventies, or about ten years after the discovery of gold, when a large body of argentiferous lead ore was discovered and soon after heavy shipments were made from a half dozen or more properties.

Jan 1, 1925

By Thomas Fraser, H. F. Yancey

The jig may be termed the standard coal-washing machine. Although exact figures on the relative tonnages of coal treated by the various coal-cleaning processes are not available, it is known that a large part of all the coal given special cleaning treatment is handled by jigs. This wide use of the jig warrants a special study of its performance. In this paper are presented the results of an analysis of work done by a three-compartment jig in treating bituminous coal from the Thick Freeport bed in Allegheny County, Pa. Certain systems of washing coal require sizing before washing, while others treat unsized coal. The prevailing practice, however, for the preparation of coking coal from the more easily washed coal is to treat an unsized or natural feed of about — 1 in. size and smaller. Under such conditions, the minimum size of particle that is beneficiated has long been and is still a matter of discussion and conjecture. In a careful laboratory investigation J?ngstl concluded that the practical limit of settling of fine coal is reached at from 0.02 to 0.008 in. On the other hand, Hancock2 has found that single-compartment jigs, used in preparing coal for the domestic market, usually allow most of the heavy (refuse) particles smaller than 1/4 in. to go into the washed coal. He also states that it is impossible with the ordinary coal jig to make any noticeable improvement in the quality of the coal finer than 20 mesh (about 1/30 in.). Because of its importance in coal cleaning, the work described in this paper was undertaken for the purpose of obtaining information on this subject, as a part of the general coal beneficiation program being carried out by the Bureau of Mines.

Jan 1, 1925

By D. Harrington

My acquaintance with rock, dusting as a preventive of wide spread explosions in coal mines dates from the fall of 1914 and the spring, summer and fall of 19.1.5 when I had an opportunity to observe the staging (both before and after) of several of the explosions in the Experimental Mine at Pittsburgh and saw violent explosions stopped by rock dust, also saw violently explosive coal dust made insensitive by use of rock dust to ignition or to propagation or spreading of an explosion. From this work I became a convert to rock dusting though I had previously been a firm believer in watering methods and am yet a firm believer that watering, methods have a well defined place in promoting the health and safety of our coal miners. In 1916, while in the Bureau of Mines service, I made an underground study and a report to the Bureau on the first extensively rock dusted mine, in the United States, the Delagua Mine of the Victor American Fuel Company near Trinidad, Colorado, there being then some ten miles of entry in that mine which had been kept well rock-dusted for at' least four years The dust used was " adobe" or surface soil screened from sweepings of the dry surface wagon roads through a screen with one-eighth inch openings, the dust giving about 20% through 200 mesh and about, 10% of approximately 1/8-inch size. The material was collected during dry weather by contract at $1.00 per ton (sacked) and was accumulated in summer and stored for winter and spring use. The dust was scattered through haulage entries by hand or by an electrically operated blower and was held on shelves along the ribs or between and on timber caps with from 1/4-inch to 2-inch thickness of the rock dust. The cost of maintaining the 10 miles of entry well dusted was about $1,500.00 per year or $150.00 per mile per year. Total cost of 'the rock dusting over a four-year period was about $6,000.00, about 2,500 tons of dust being used and 2,000,000 tons of coal produced; the above cost included about 1,200 days labor dusting at $2.50 per day, 2,500 tons of rock dust at $1.00. per ton and miscellaneous labor, material, repairs, power cost, etc., amounting to about $500.00. The cost per ton of coal produced for keeping 10 miles of entry rock dusted being about 3/10c. In addition to the rock dusting, some sprinkling was done, chiefly in the interior of the mine, costing about 2/5c per ton; and due to spilling of coal and sifting of coal .dust through loose cars on the entry floors, the floors of haulage roads were kept sprinkled between and just outside-the rails. Total cost of sprinkling and rock dusting was about .7/10c per ton much less of course than the same work would now cost. Between January, 1916, and July, 1924, my duties in the Bureau of Mines allowed me, to follow up and make underground inspections and reports on more than 20 coal mine explosions and fires in a number of states of the union and in this work a large number of samples of road, rib, and other dusts were taken to ascertain the effect of moisture, roof and floor dirt, etc., upon the propagation or the stopping of the explosion; also a large part of my work was to obtain evidence pro and con as to influences affecting the disasters and very prominent among those influences were the occurrence or use of water, water drippers, or ponds, as well as of sand, roof or floor rock or dust on floor, ribs, etc. The Dolomite explosion near Birmingham, Alabama, in November, 1922, and the Dawson No. 1 Mine Explosion at Dawson, New Mexico, in February, 1923 (at both of which I made underground inspection and report) both starting on main intake haulage road and both in mines which had fairly elaborate watering systems, convinced me that at least as far as freezing can occur on main intake air courses which also act 2s main .haulage ways, rock dusting is likely to be much more dependable than sprinkling. In making up the report on the Dawson Explosion to the Bureau of Mines (copy of which also

Jan 1, 1925

By Unknown

We are indebted to the Consolidated Mining and Smelting Company of Canada Limited for the several pictures in this issue showing the progress made in new construction at Tadanac and at Bonnington Falls, B.C. Plate No. 1 shows the down-stream side of the No. 1 hydro-electric station of the West Kootenay Power and Light Co. Limited at Bonnington Falls, on the Kootenay river, at which 17,500 k.v.a. will be developed to meet the requirements of the enlarged zinc and lead refineries at Tadanac. The generators, exciters and switch apparatus were supplied by the Canadian General Electric Company and the step-up transformers by the Canadian Westinghouse Company Limited. The plant throughout was designed, manufactured and erected by Canadians. Plate No. 2 shows the casting room of the new lead-plant and plate No. 3 the new tank-room of the electrolytic lead refinery at Tadanac. These additions will increase the capacity of the lead refinery by some 150 tons daily. The extensions also include practically doubling the zinc plant, and the gold and silver refineries. With the exception of the new stack, all designing construction and installation of the various plants is being done by the Company's own employees at Tadanac. Plate No. 4 shows the progress made in the construction of the new reinforced concrete stack at Tadanac. This stack, of 21 feet inside diameter at the top, will be brick lined and when completed will rise 400 feet above its foundations: the tallest of its kind in the world. The construction is in charge of the Rust Engineering Company of Pittsburgh, Pa. Plate No. 5 is a panorama of the Tadanac smelters and refineries. The photograph was taken from the roof of the lead smelter and gives an excellent idea of the size of the plant and its surroundings. Tadanac produces electrolytic lead, zinc and copper and fine gold and silver. During 1924 the company treated 1,333,523 tons of ore and produced: 161,400,- 769 pounds of lead; 92,197,824 pounds of zinc; l,382,750pounds of copper; 4,074,044 ounces of silver, and 26,976 ounces of gold.

Jan 1, 1925

By A. W. Dickinson

Since the day when one of the most progressive of our flat-head for- bears used a pry pole to loosen large rocks to crash upon the head of his, enemy, thereafter making notes of his performance on tablets of stone, the arts of mechanicalization have developed and progressed to the benefit of mankind. In the early coal pits of England the crudest of tools were wielded in the most slavish of toil to win a very small amount of product. In our own country it is but a few years since coal was hewn by negro slaves in the mines of the southland. The past thirty years have brought the use of the mining machine, power drill and locomotive, and we now stand on the brink of the coal mining era that will change the toiler of the mines into a skilled mechanic and render far more safe the winning of the fuel necessary to the nation's need. The ingenuity of our citizens has made it imperative that coal be produced at a lesser cost. Vast supplies of fuel oil have been developed; enormous resources in water power are turning the wheels of many mills and, most commendable but distressing to the coa.1 producers, the high price of coal has resulted in efforts and accomplishment in fuel economies unheard of a short five years ago. The railroads of the United States alone in 1924 accomplished more hauling with $30,000,000 less in coal bills than in 1923. The loading of coal by machines has been under investigation and trial for some time past and in an effort to have its men informed of the practice of the eastern coal fields, The Union Pacific Coal Company sent the writer through a number of states to view as many operations as possible. Notes were taken of machines and processes seen and time was spent with engineers of the various coal companies; also with the United States Bureau of Mines Engineers, particularly Mr. Edwin H. Johnson, who devoted one year to the most careful study of the mechanical loading of coal. The writer wishes, at this time, to acknowledge the helpfulness of the information acquired through contact with Mr. Johnson.

Jan 1, 1925

By H. Stutchbury

Alberta is labouring, and has laboured, under serious difficulties in the marketing of ?her coals, due to a number of conditions which now obtain, but all of which appear capable of solution, and their elimination would insure a very largely increased market for the vast coal resources of that province. It is perhaps necessary to again mention the fact that 15 per cent of the world's coal resources are to be found in Alberta; 21 per cent of that of North America; 72 per cent of that of the British Empire, and 87 per cent of that of all Canada. While we talk largely of the great wealth of Canada, the immensity of her vast natural resources, it is axiomatic that the mere presence of any natural product in a country does not in itself constitute wealth for that country, unless these raw materials can find a market, either in their raw state, or by the process of manufacture. There are many factors, however, which enter into the marketing of any commodity. The chief of these, in my opinion, is price competition. High costs of production materially reduce the radius in which any product can be marketed, and this applies particularly to coal. Mining costs in the province of Alberta are necessarily high at the present time, due in a large measure to the ease with which the 'gopher hole' mine can be opened with small capital.

Jan 1, 1925

By Robert Lepsoe

It is generally realized that in cyaniding the precipitation efficiency of zinc dust is due to the fine division or extended surface of its metallic particles; but frequently it is thought that the presence of other metals, say 2 to 3 percent. lead, is advantageous, causing more complete precipitation. The results of testing about fifty brands of commercial zinc dust have led to the conclusion that there is a distinct relation of precipitation efficiency to fineness and that the effect generally can be estimated by examining the size of metallic particles. The presence of lead was not found to be of any importance. Specifications Generally the term "97 per cent. to pass a 350-mesh screen, 95 to 97 per cent. uncombined metallic zinc" is used by the leading European exporters. Among the many methods of determination of metallic zinc, I have found the iodine test (iodine in potassium iodide) very satisfactory and rapid. It has been controlled by the other methods, samples of the same product having been sent to three different analysts: Iodine method................... 98.11 per cent. metallic zinc, Volumetric method.............. 07.63 per cent. metallic zinc, Ledoux Co., New York Bichromate method.............. 08.16 per cent. metallic zinc, Watson Gray, Liverpool. England Bichromate method.............. 98.20 per cent. metallic zinc, Norway Inst. of Tech., Trondhjem Determination of Precipitation Efficiency The method devised by W. J. Sharwoodl was used. The method proved to be satisfactory, the tests being merely for the comparison of different samples, hence the personal factor in manipulation was eliminated. As nearly all tests showed more zinc in solution than was accounted for by the silver precipitated, the term "dissolved zinc" was introduced—it means zinc dissolved by the action of cyanide and oxygen: Zn + 4KCN + H2O + O = K2Zn(CN)4 + 2KOH; or more probably, resolution of its equivalent precipitated silver, as tests stirred two hours showed more "dissolved zinc" than those stirred

Jan 1, 1925

[JOHN B. MARKS President Boston Bldg., Denver, Colo. BENEDICT SHUBART Secretary-Treasurer 521 Boston Bldg., Denver, Colo. H. H. BUBB Vice-President for Colorado Cokedale, Colo. W. J. REID Vice-President for Utah Wattis, Utah WM. MOORHEAD Vice-President for New Mexico Dawson, New Mexico GOMER REESE Vice-President for Wyoming Frontier, Wyoming EXECUTIVE BOARD COLORADO: E. H. McCLEARY Alamo SAMUEL TESCHER Denver UTAH: DAVE BROWN Storrs JOHN JENNINGS Hiawatha NEW MEXICO: JAS. McDOUGALL Van Houten GEO. MIKSCH Gallup WYOMING T. H. BUTLER Hanna L. A. NORMAN Sheridan]

Jan 1, 1925

By C. M. Anson

This paper describes the progresses used in the manufacture of steel wheel-centres, tyres and axles at the works of the Commonwealth Steel Products Co., Newcastle, N.S.W., Australia. The plant is adjacent to the Northern railway and consists of three main buildings, namely: the foundry, the forging and rolling shop, and the machine shop. The foundry contains a 6-ton Heroult electric furnace, together with all necessary mechanical appliances for moulding. Reheating furnaces, steam hammers and tyre rolling mill are installed in the forging shop. The machine shop contains lathes, boring machines, and hydraulic presses. Until this plant commenced operations all wheels used in Australia were imported, previ.ous to the war, from England and Germany, and latterly from England only. Besides being of great benefit to the country in that there is now a domestic source of supply of these articles, there is also the advantage of retaining the home market; and in addition, a small portion of the population are now engaged in highly technical occupations requiring a great degree of skill. The plant began to operate in October 1919, and by 1921 was in a fair way to meet the domestic demand for those articles of railroad equipment which it manufactures.

Jan 1, 1925

By A. W. Hesse

Twelve years ago, some coal-mine operators, mining engineers, oil and gas operators, Bureau of Mines engineers, geologists and state mine inspectors met in Pittsburgh, Pa. to discuss and solve if possible, the problems in connection with the drilling of oil and gas wells through or near coal mines and through the future coal reserves. Regulations were drafted and presented by O. P. Hood and A. G. Heggem of the Bureau of Mines.' . There was considerable discussion of the various articles, practically all of which appear in Bulletin 65, but the interest aroused at that meeting was short lived. Practically none of the important coal-producing states gave the matter the consideration it should have received. Notwithstanding the marked progress in safety work, coal mines still have an unenviable reputation for mine explosions. Our mining laws have become stricter and the enforcement, especially in Pennsylvania, more rigid, but what good will come from a rigid enforcement of the mining laws if some source of danger exists all around the mines, over which the operators have no control ? It is hardly necessary to recite all the cases of natural-gas explosions published in Bulletin 65, but with some of them I am especially familiar. In 1912, while visiting the Miners' Hospital, at Fairmont, W. Va., my attention was called to a patient swathed in in bandages so that no part of his face and hands were visible. He had not been told that his two sons, mere boys, had died of the burns they had received in the same accident—explosion due to natural gas leaking into a country mine at Peora, Harrison Co., W. Va.

Jan 1, 1925

By P. R. Bradley

The property of the Alaska Juneau Gold Mining Co., covering the Juneau gold belt for over a mile in length, consists of 136 claims and 24 mill sites; these are near Juneau, Alaska, in what is known as the Harris mining district. Gold was discovered in the district in 1880, by Richard T. Harris and Joseph Juneau, who had been prompted to explore the section by rumors they had heard among the Indians. Gold was first found on the beach at the mouth of Gold Creek and further search revealed the lode deposits in the Silver Bow basin, about two miles inland. The lode locations made immediately thereafter constitute the principal area of the Alaska Juneau group of claims. Gradually news of the strike spread and, during the late eighties, Silver Bow basin became a substantial producer of gold, both from placer work and from quartz milling. Numerous small mills of various types were erected to crush high-grade float and stringers gouged to shallow depths. Placer mining gradually ceased and the pioneer milling operations gave way to larger and better mills, which in time were the predecessors of the two large mills built by the Alaska Gastineau Co. and the Alaska Juneau Co. on the shores of Gastineau Channel. This evolution from arrastres to small mechanical mills, thence to the two large-capacity mills on Gastineau Channel, although a natural sequence of events, had a most important bearing on the development of the district. Knowledge of the character, extent, and value of the ore deposits gained by these early operations could not have been acquired otherwise. Spencer shows1 that the early mills were: Arrastres in 1881-82-83-84-85-86-88; a 5-stamp mill in 1882; a "newly devised grinding mill" in 1884; two Huntington mills in 1886; a 10-stamp mill in 1889; a revolving Dodge mill in 1890; a 5-stamp mill in 1891; and a 20-stamp mill in 1893. He also estimates the gold production to the end of 1893 as $1,000,000 from lode mining and $1,250,000 from placer mining. No estimate can

Jan 1, 1925

By C. C. Miller, A. R. Belyea, C. H. Herty, E. B. Burkart

The removal of sulfur from steel has been studied by many investigators, but the quantitative relationships between the factors involved have not been determined. This is undoubtedly due to the number of variables encountered in practice, an attempt to study any one reaction or relation being affected by other reactions the relative importance of which cannot be estimated. The factors that affect the extent of removal of sulfur in the basic open-hearth process are generally considered to be: 1. Basicity of the slag: (a) Iron oxides in the slag; (b) carbon in the metal or carbide in the slag; (c) temperature. These factors affect the reactions: FeS + CaO = CaS + FeO FeS + CaO + C = CaS + CO + Fe. 2. Amount of sulfur in the gas. 3. Amount of manganese in the metal. The factors which affect the rate of removal of sulfur include, in addition to these: 4. Fluidity of the slag: (a) Normal changes in fluidity with temperature; (b) changes in fluidity because of the addition of special reagents such as fluorspar. 5. Agitation of the bath. Within the past two years, two papers have been presented dealing with the influence of sulfur in the gas on slag and metal. Nead' has shown that if a gas high in sulfur be used for heating, the metal and slag will absorb sulfur. Whitely2 concluded from his experiments that if a

Jan 1, 1925

By H. A. Coy, James A. Noble

The Mascot mines of the American Zinc Co. of Tennessee are situated at Mascot, Tenn., 14 miles northeast of Knoxville, on the Southern Railway. The district is centrally located in the Great Valley, or Appalachian Valley Province. Prior to 1900, a small output of zinc was obtained from oxidized ore mined in open pits. In 1900, a shaft was sunk to sulfide ore, and in 1903, a second shaft was put down, neither being as deep as 200 ft. The American Zinc Co. of Tennessee began drilling in 1911, and outlined an ore-body to which its No. 1 shaft was sunk, to a depth of 365 ft. Since that time, the American Zinc Co. of Tennessee has been the only operator in the district. The Federal mining laws have never been in operation in Tennessee and mining lands are as irregular in boundary and area as farm lands. Ownerships are generally held in fee. In most cases the surface and mineral rights are transferred together. Electric power is supplied at 66,000 volts by the Tennessee Power Co., from a hydro-electric plant at Parksville, Polk County, Tenn., 100 miles from Mascot. No other power is used, but an emergency steam plant is held ready in case of interruption of service. Labor is all native and non-union. Negroes are employed for most of the shoveling, and for a few miscellaneous jobs, but for almost no other work. Exploration Exploration is carried ahead of mining largely by surface drilling. Both churn and diamond drills are used. Holes are not spotted according to geometric plan, but to block out ore outlines with the least number of holes. Churn-drill cuttings from each 5-ft. run are mounted for formation record, and in ore ground, all the bailings from each 3 ft. of advance are sampled and assayed. Diamond-drill cores are sampled and a specimen core filed for formation record. In ore ground, all the core

Jan 1, 1925

TO WE BOARD OF DIRECTORS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS Gentlemen:-The following report covers briefly some of the more important activities of the Institute during the year 1923. In my report for the year 1922, I drew attention to the falling off in membership of the Institute due to the depressed condition of the mining industry in several lines and the inability of many of our members to find profitable employment in mining or its associated branches. A number who were unemployed during 1922 established connections during 1923, but a still greater number have been forced to resign or drop their membership during 1923. Fortunately, the number dropped is not so great as in the previous year. The Employment Service conducted by the four Founder Societies bears witness to the trend in business. For the young men just out of college, there are plenty of opportunities at small salaries, there are plenty of opportunities for them as laborers; but for the mature members, those of experience, there are few calls. During the last eighteen months, our Employment Service has been able to place only six of our members out of every hundred engineers for whom it has found work. Another loss which this Society has suffered, but which is not felt so keenly by our sister societies, is in its foreign members. The A. I. M. E. has always had a large foreign membership, but of recent years exchange has been so heavily against many European and South American countries that a large number of members residing abroad have been compelled to relinquish their membership. Almost invariably these members express keen regret because of the necessity that confronts them, and almost invariably the writers express hope that present conditions will not last long and that they will soon be able to ask for reinstatement. Having stated the darkest side of the picture first, it may now be drawn to your attention that in spite of these losses the number of persons applying for membership was decidedly encouraging. From the quality point of view, the membership has not gone backward. The Membership Committee has declined to recommend many

Jan 1, 1925

By Joseph Harrington

It is sufficiently correct to say that domestic solid fuel is universally hand fired and it is almost as correct to state that a very large proportion of hand-fired domestic fires are extremely inefficient and smoky. This is particularly true with raw bituminous coal for the fuel. The smokeless and efficient firing of domestic coal affords one of the most difficult problems confronting the combustion engineer. This is due to the universally constricted combustion space in the domestic furnace, the complete ignorance regarding the laws of combustion on the part of the average person, and the fact that the laws of efficient combustion are almost completely nullified under these conditions. It is well to familiarize ones self with these laws. These are: 1. The gradual introduction of the fuel to the furnace. 2. The admission and mixing of the right quantity of air with the coal gases. 3. A temperature high enough to permit complete combustion, and 4. A furnace space of volume sufficient to permit of the combustion gases and the oxygen getting together within the confines of the furnace. Even a casual inspection of the domestic heater will show that none of these essential things are present in proper degree, and this is the reason why the problem of domestic firing presents such difficulties. I have analyzed these conditions in a paper published by the Black Diamond, and which has already had wide distribution, so that I will not repeat the rather lengthy discussion in this paper. A survey of the entire field indicates very clearly that a reversal of existing methods and equipment must be had before any real improvement can be expected. It is my firm belief that in this instance above all others it is necessary to build the efficiency and smokelessness into the equipment in such a manner that its performance will be entirely independent of both skill and interest on the part of the operative. To attempt to educate every man, woman and child who periodically throws coal into a domestic furnace would be literally impossible. Much can be done, however, if we could teach the householder the simple essentials of alternate firing, which I have explained at length in the above mentioned paper. This would go a long way toward making the domestic furnace problem more satisfactory, as well as efficient and smokeless. Many will argue, and with good reason, that the domestic fuel should be prepared coke and with this I agree up to the limit imposed by the practical considerations of quantity production, price and the possibility of marketing the by-products. It will be obvious that if enough raw coal should be processed to provide all of the required domestic fuel that the amount of by-products recovered during the coking process would be so great that there would be little or no market at any price which would justify the manufacture of coke. If the by-products were wasted they would not only be a tremendous economic loss, but the price charged for the coke would probably be so high that the market would be limited, and this would defeat the very idea of the whole thing. Much can be done, however, in advancing the use of coke, but I believe that much more extensive and careful experimentization should be had in order to determine the right size and quality of coke for the various domestic furnaces. If coke were to be developed for extensive domestic consumption it is more than probable that the coking process should and could be stopped at a point where the volatile content of the coke would be sufficiently high to permit of prompt ignition and combustion in low draft installations. If the volatile content were from five to ten per cent a very different kind of coke would be produced from that which is now produced with perhaps one per cent of volatile. A skillful manipulation of this feature would make coke adaptable and satis-

Jan 1, 1925

By Theodore H. Boggs

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

Jan 1, 1925

Jan 1, 1925