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By E. G. Kearnery

Introduction It is believed that the present paper will be of some interest, not because of any outstanding features of Renabie milling practice but because Renabie is the first gold mining property in a newly explored area - in Leeson and Rennie townships, Sudbury district, Ontario - to reach the production stage. The Renabie mill was originally designed by the General Engineering Company (Canada), Limited, as a 300-ton plant and went into operation in June, 1947, treating an average of only 128 tons a day for the balance of that year. Toward the end of 1948 the capacity of the plant was expanded to 450 tons a day, and the tonnage treated was gradually increased from the 1947 figure to the point where 420 tons a day was averaged for the first nine months of 1949. Description of Ore In general, the outstanding gangue component of Renabie ore is white quartz, which comprises at least 80 per cent of its total bulk and in some sections considerably more. Virtually all the gold occurs in very finely divided state; only very rarely has free gold coarser than 325 mesh been observed. The ore has a very low sulphide content, ranging from about 0.50 to 1.00 per cent by weight. The gold occurs both free in the gangue and ? locked in sulphides, the proportion of one to the other varying considerably from one orebody to the other. Pyrite is by far the most abundant sulphide, followed by galena, which, however, appears to be entirely absent in some of the orebodies. Minor amounts of pyrrhotite, chalcopyrite, chalcocite, and sphalerite have been noted. The ore appears to be entirely free, or almost so, of minerals containing arsenic, antimony, or molybdenum, and in general it could be described as free milling. The various hindrances to extraction of the gold which have been met with are believed to be due largely to the very finely divided state of the metal and to its intimate association with the sulphides and gangue. The ore contains silver, with the gold-silver ratio about 3:1.

Jan 1, 1950

By Peter C. Jones

The paper gives a broad view of the maintenance procedures at the Cassiar Asbestos Corporation property. Comparisons are drawn to indicate the changes in facilities and approach that have evolved over the last 25 years while coping with the northern British Columbia climatic conditions. Special emphasis has been placed on the importance of the support groups providing services for both the mine site and the town.

Jan 1, 1978

By D. H. Rubisov, V. G. Papangelakis

Sulphuric acid pressure leaching is the process of choice to recover nickel and cobalt from laterites with variable iron and magnesium contents. The latter influences the acidity levels required for effective leaching of nickel and cobalt, and during leaching, iron is rejected in-situ as hematite. Classical solid/liquid separation is performed via a CCD circuit, the performance of which depends upon the size and shape of precipitated particles. In this paper, precipitates obtained by acid-leaching of various lateritic feeds at 270°C are characterized using SEM/EDX and laser particle size analysis. It is shown that as acidity increases, the shape of the precipitates gradually changes from platelets to spheres, thus improving the S/L separation properties of the residue. The use of hydrogen ion concentration “at temperature,” calculated from a speciation analysis, allows the explanation of this change of morphology independently of the type of the ore feed. The possibility of precipitating magnesium sulphate “at temperature” is also discussed. In order to take advantage of this precipitation for scale reduction (as has been proposed in the past) without compromising the residue quality, [H+] “at temperature” must be controlled within an optimum range.

Jan 1, 2000

By M. Djivre, T. Eger, A. Godwin, I. Bhattacherya

Load-haul-dump vehicles (LHDs) are extensively used in underground mining, however, equipment design and operating conditions contribute to restricted operator sight lines. The inability to clearly see people, objects, or hazards around the machine has contributed to a number of accidents including fatal injuries. In order to identify vehicle design characteristics resulting in restricted and blocked sightlines, line-of-sight assessments are traditionally completed in the field. However, field methods are unable to evaluate lineof- sight under dynamic operating conditions, and are limited in their ability to provide feedback on the impact of various operator characteristics such as sitting height. Results of this research show computer simulation and virtual reality can be successfully used to evaluate line-of-sight during the operation of LHD vehicles. In order to benefit from virtual reality applications, the work environment, LHD vehicle, and human posture need to be represented as accurately as possible. A computer simulation program with ergonomic analysis features, Classic JACK 3.1, was successfully used. Threedimensional CAD models of LHDs were developed from manufacturer specifications and pictures taken from LHDs currently in use. The LHD models were imported into the JACK environment, a digital human was positioned in the cab of the LHD vehicle, and the vehicle and human were driven over a typical mine route. Real-time feedback in the JACK program was used to identify what the operator could see under different operating conditions. Machine characteristics and operating scenarios resulting in impaired line-of-sight were successfully identified with this method. The JACK program could also provide real-time feedback on the human’s joint forces and torques, strength requirements, postural comfort, and metabolic energy expenditure. As a result, this method could be used to successfully evaluate musculoskeletal injury risk factors along with system design recommendations to improve workplace safety and productivity in any setting. The LHDs evaluated in the JACK software package can also be combined with mine models and imported into other VR software packages (e.g. Blender) in order to enable viewing in Laurentian University’s Virtual Reality Laboratory. The VR models using these packages can be viewed in stereo to provide better appreciation of spatial vision issues.

Jan 1, 2005

By R. Matusewicz

The key drivers for the copper smelting industry are a complex mix of economic and "human" factors which combine to drive technology in new directions and can provide a strong indication of future industry trends. Recent examples have been the drive to achieve increased scale of production and resultant cost efficiencies by using a single furnace high intensity smelting vessel, and the broad acceptance of Top Submerged Lancing (TSL) technology for this duty. The development and adoption of continuous converting processes to counter the increased pressures faced by the Peirce Smith converting process is another example of the need for innovation. This paper discusses the merits of the continuous converting process, describes how the Ausmelt TSL batch converting process has been adapted to the new Ausmelt Continuous Copper Converting (C3) process in response to these industry trends and examines the Ausmelt continuous converting flowsheet options available to the end user.

Jan 1, 2007

By Mark Rebagliati, John Payne, Jim Oliver

Abstract-The Campo Morado precious-metal-bearing, volcanogenic massive sulfide deposits occur in a lower Cretaceous, bimodal, calc-alkaline volcanic sequence in a major northerly trending belt in the Guerrero Terrane in northeastern Guerrero, Mexico. During upper Cretaceous to Early Tertiary greenschist-facies regional metamorphism, the rocks were deformed strongly into a northeast-verging fold-and-thrust belt. Three later stages of weak deformation were dominated, respectively, by kink folds, broad warps, and extensional faults. Most deposits occur in the upper part of a sequence of felsic flows and heterolithic volcanoclastic rocks or at its contact with overlying chert and argillite-sandstone. The Reforma and El Rey massive sulfide deposits are on the overturned limb of a major, thrusted anticline, and the Naranjo and El Largo massive sulfide deposits are to the south on the upright limb of the same major fold. The La Lucha and San Rafael massive sulfide occurrences are in an upper plate to the southwest which was thrusted over the plate containing the Naranjo and El Largo deposits. In several of the deposits, Au, Ag, Zn, and Pb are concentrated near the stratigraphic top, and Cu is concentrated near the stratigraphic base. Major minerals are pyrite, quartz, ankerite, sphalerite, chalcopyrite, and galena. Minor minerals are tennantite-freibergite, arsenopyrite, and pyrrhotite. Gold and Ag occur in argentian gold, and Ag also occurs in tennantite-freibergite. The cumulative inferred resource of massive sulfide for the Reforma, Naranjo, El Rey, and El Largo deposits exceeds 30 Mt, with the latter two deposits incompletely delineated. Underlying pyrite-quartz stockwork zones contain chalcopyrite, chlorite, and sphalerite. Hydrothermal alteration minerals in the stratigraphic footwall are pyrite, quartz, chlorite, ferroan dolomite, and ankerite. In the stratigraphic hangingwall, hydrothermal alteration minerals are sericite, calcite-dolomite, and lesser clay minerals and quartz. The deposits belong to a low-sulfidation, volcanogenic massive sulfide system formed in a subaqueous environment, and are of the bimodal, siliciclastic type.

Jan 1, 1997

By Mark Rebagliati, John Payne, Jim Oliver

The Campo Morado precious-metal-bearing, volcanogenic massive sul?de deposits occurin a lower Cretaceous, bimodal, calc-alkaline volcanic sequence in a major northerly trending belt inthe Guerrero Terrane in northeastern Guerrero, Mexico. During upper Cretaceous to Early Tertiary greenschist-facies regional metamorphism, the rocks were deformed strongly into a northeast-verging fold-and-thrust belt. Three later stages of weak deformation were dominated, respectively, by kink folds, broad warps, and extensional faults. Most deposits occur in the upper part of a sequence of felsic ?ows and heterolithic volcanoclastic rocks or at its contact with overlying chert and argillite-sand-stone. The Reforma and El Rey massive sul?de deposits are on the overturned limb of a major, thrusted anticline, and the Naranjo and El Largo massive sul?de deposits are to the south on the upright limb of the same major fold. The La Lucha and San Rafael massive sul?de occurrences are in an upper plate to the southwest which was thrusted over the plate containing the Naranjo and El Largo deposits. In several of the deposits, Au, Ag, Zn, and Pb are concentrated near the stratigraphic top, andCu is concentrated near the stratigraphic base. Major minerals are pyrite, quartz, ankerite, sphalerite,chalcopyrite, and galena. Minor minerals are tennantite-freibergite, arsenopyrite, and pyrrhotite. Goldand Ag occur in argentian gold, and Ag also occurs in tennantite-freibergite. The cumulative inferred resource of massive sul?de for the Reforma, Naranjo, El Rey, and El Largo deposits exceeds 30 Mt, with the latter two deposits incompletely delineated. Underlying pyrite-quartz stockwork zones contain chalcopyrite, chlorite, and sphalerite. Hydrothermal alteration minerals in the stratigraphic foot-wall are pyrite, quartz, chlorite, ferroan dolomite, and ankerite. In the stratigraphic hangingwall, hydrothermal alteration minerals are sericite, calcite-dolomite, and lesser clay minerals and quartz. The deposits belong to a low-sul?dation, volcanogenic massive sul?de system formed in a subaqueous environment, and are of the bimodal, siliciclastic type.

Jan 1, 1997

By Edwin G. Sharp, Frank S. Gaunce, George M. Freeman, Denis J. Kemp, Eric Dulson, Paul Salmon, Ernest R. Hamilton, Carl E. Parden

"THE ECSTALL ZINC PLANT was built for the treatment of the Kidd Creek zinc sulphide concentrates. Construction proceeded throughout 1970-71, with operations beginning in April 1972. The two concentrate types treated differ principally in minor impurity and precious metal contents. Processing flexibility was required to allow efficient recovery of the by-products, especially cadmium, copper and silver. The conversion of the zinc sulphide concentrates to end products follows a sequence of operations that are common to most electrolytic zinc plants and typical of the ""Tainton- Jephson"" flowsheet.1. Roasting in air at an elevated temperature to convert the metal sulphides to soluble metal oxides (calcine) and sulphur dioxide. The sulphur dioxide is converted to sulphuric acid in a contad plant and shipped by train to market.2. Leaching of the calcine in spent electrolyte to effect extraction and recovery of zinc as zinc sulphate solution, leaving an insoluble residue.3. Purification of the clarified zinc sulphate solution by cementation with metallic zinc dust to remove impurities detrimental to the electro-deposition of zinc or detrimental to product purity. The solids from cementation are the starting materials for secondary metal recovery.4. Electrolysis of the purified zinc sulphate solution to reduce the zinc to the metallic state while coincidentally regenerating the sulphuric acid for recycle to the leaching step."

Jan 1, 1974

The Environmental Excellence in Exploration (E3) project is driven by the recognition that the minerals industry can only maintain its long term viability by ensuring its continued access to lands to explore for, and develop, new mines. Widespread implementation of sound environmental management practices by the exploration community and improved education and understanding of that by stakeholders will help substantially in accomplishing this, and E3 is designed to meet these needs. Exploration crews are now viewed as ambassadors for the global mining community. Their performance in managing the environmental aspects of an exploration program can demonstrate a commitment on the part of the international mining sector to environmentally responsible exploration and mining. We have all observed that failure to behave responsibly can alienate local residents, encourage anti-mining NGOs and jeopardize development. As the saying goes, ?you don?t get a second chance to make a first impression?, and we want to make a favourable first impression. The E3 project is focused on creating an electronic manual, the e-manual, which will provide rapid access to the most up-to-date information on environmental management practices for minerals exploration globally. The e-manual will reflect current thinking and practices in environmental management. It will be richly illustrated with actual examples that reflect the realities of exploration. It will strive to identify the key environmental issues and concerns that apply to most exploration projects, and identify other sources of relevant information useful to field practice. It is our belief that E3, or something very like it, is central to ensuring that the industry survives the current challenges to its viability. E3 will be a cornerstone of the mining industry?s drive to sustainability simply stated, if we are not permitted to explore for mines, there will be none of them at some point in the relatively near future.

May 1, 2002

By M. Muinonen, R. Pandher

Royal Nickel Corporation is developing the Dumont Nickel Project, a large nickel sulphide deposit located near the town of Amos, Québec. The nickel occurs as pentlandite, heazlewoodite, and awaruite. The relatively low grade ore can be processed to a very high grade nickel concentrate, containing 29% Ni. The absence of copper and precious metals in the ore renders this concentrate amenable to processing by dead roasting in a fluid-bed roaster and smelting in an electric furnace to produce ferronickel for sale to stainless steel producers. Laboratory test work and conceptual engineering design was completed to demonstrate the amenability of Dumont concentrate to produce ferro-nickel.

Jan 1, 2015

By Niklas Willemsen

Introduction to SVCs ? SVC = Static var Compensator ? Dynamic step-less control of reactive power without switching of passive components: ? Voltage control/stabilization ? Harmonics- and flicker mitigation ? Dip mitigation ? Main components: ? TCR (Thyristor Controlled Reactor) ? Tuned harmonic filters ? Control- and cooling systems ? Typical applications: ? Mine hoists ? Large mining complexes ? EAF, SAF, rolling mills, wind/solar farms etc..

Aug 1, 2013

By M. Zanini, D. Wong

ABSTRACT: Metals market improvements in 2005 drove the desire to increase nickel throughput and the production of nickel oxide sinter at the Vale Ltd. Copper Cliff smelter. Significant difficulties were encountered due to the unreliable quality of Bessemer matte being produced. Concentrate feed changes and the loss of technical and operational expertise during the previous market downturn contributed to the challenge of making the required improvements. Significant progress has been made in the converter aisle by focusing on employee engagement and standardizing best operating practices for a new generation of skimmers. This paper documents these initiatives and seeks to balance the art and science of converting.

Jan 1, 2012

By R. Pelton, Z. Dai, S. Yang

ABSTRACT Hydrophobic polystyrene nanoparticles were evaluated as potential flotation collectors for pentlandite. The flotation of hydrophilic glass beads demonstrated the nanoparticles’ ability to induce flotation. Deposition of nanoparticles on glass surfaces increased the contact angle and enhanced adhesion of the beads to air bubbles. High flotation recoveries were achieved when 5–10% of the bead surfaces were covered with nanoparticles. Surface functionalization—the addition of vinylimidazole to polystyrene nanoparticle surfaces—caused the nanoparticles to selectively deposit onto pentlandite surfaces in the presence of Mg-Si slimes. Ongoing work includes attempts to identify specific applications where nanoparticle collectors might be cost effective. _ KEYWORDS Flotation, Nanoparticle collector, Coverage

Jan 1, 2014

By K. Ramji

"The development curve in the extractive sector has become longer, steeper, and riskier due to increased social, legal, and political risks from various stakeholders. Indigenous peoples are a unique stakeholder because their growing legal rights to lands and resources can often determine a project’s outcome. A project will only be successful if it is able to obtain the legal permits, withstand any judicial reviews, and gain and maintain the social license to operate. Stakeholder identification, management, and engagement are key risk-mitigation tools required to successfully convert risks into opportunities.RÉSUMÉ La courbe de développement du secteur de l’extraction s’est allongée, elle est devenue plus abrupte et plus hasardeuse en raison de l’accroissement des risques sociaux, légaux et politiques venant des divers intervenants. Les peuples autochtones sont des intervenants uniques puisque leurs droits légaux croissants sur les terres et les ressources déterminent souvent ce qu’il adviendra d’un projet. Un projet ne pourra réussir que s’il est capable d’obtenir les permis légaux, passer à travers les analyses judiciaires, puis obtenir et maintenir le permis social d’exploitation. L’identification des intervenants, la direction et l’engagement constituent les outils clés de l’atténuation des risques nécessaires pour bien convertir les risques en possibilités."

Jan 1, 2016

By M. Leahy

"Very little is known about the large scale fluid dynamics and associated distribution of copper in an operating electrowinning cell, yet they will have a major influence on mass transfer and plating quality. The CFD model in this work is used to simulate an entire EW cell with 60 cathodes and 61 anodes, or 121 anode–cathode pairs, elucidating for the first time the three-dimensional (3D) flow and copper distribution in an industrial cell. Two methods for the distribution of electrolyte are modelled:1. Downcomer method: electrolyte is fed by a downcomer at one end of the cell, overflowing at the opposite end.2. Manifold method: a horizontal manifold pipe runs the whole length of the cell and feeds electrolyte via small holes in the top of the manifold pipe.The recirculation that develops within each anode-cathode pair, driven by oxygen bubble generation on the anode, is similar to that seen previously in two-dimensional models of single anode–cathode gaps. However a more complex 3D flow recirculation is established, which involves flow of electrolyte down the side gaps (being a path of low resistance for return flow) as well as the usual return flow down the cathode side of each pair gap. The bubble-driven flow is not influenced by the mode of electrolyte distribution.The electrolyte flow due to the manifold and downcomer is somewhat secondary to the bubble driven flow. In the case of the downcomer distribution mode, the high injection velocity causes a very turbulent flow in the first 1–2 m down the cell from the downcomer, with several large vortices developing. This may lead to some sludge particles being entrained into the bulk of the cell.In the manifold pipe case, the jet from each hole is dissipated very quickly, within the first 10–20 cm. The jets are directed into the downward flowing zone of the bubble-driven recirculation, which leads to unstable and periodic behaviour on a large spatial scale.In both the manifold and downcomer cases, there is a marked two-zone vertical stratification in copper concentration."

Jan 1, 2016

By Bahjat Khoshaba, Bern Klein, Haixing Yan, Libin Tong, Andrew Bamber

"When a conductive or magnetic particle was put into an electromagnetic field introduced by an electromagnetic sensor, the particle can influence the electromagnetic field which can be used to characterize this particle. The electromagnetic technology based on eddy current theory was explored to investigate its potential in both the separation of minerals and the pre-concentration of a base metal ore. Samples tested in the study included the minerals obtained from Ward’s Science and the low grade copper ore particles obtained from Mount Polley Mine. The effects of mineral type, sensor frequency, particle size, particle position on the sensor surface, and particle lift-off on the magnitude and phase of the electromagnetic spectra were investigated. The electromagnetic spectra of various minerals show that it is possible to separate chalcopyrite or magnetite from tested minerals, simply based on the magnitude of the spectra. The spectra of the ore particles were determined by the mineral in the particles with the strongest signal. The effect of the pre-concentration of the low grade copper ore is determined by the association of chalcopyrite with magnetite. Direct sorting is the mechanism in the separation of mineral particles, while indirect sorting is the mechanism for low grade ores.INTRODUCTIONSensor-based sorting technologies include radiometric, X-ray transmission, X-ray fluorescence, near infrared, photometric, inductive, microwave heating and so on. Sorting not only discards barren rocks away from the concentrator but also recovers metal bearing that would be lose to the waste dump. The benefits of pre-concentration using sensor-based sorting are achieved on reduced energy consumption for comminution and reduced water usage on a volume per weight of metal basis (Bamber, 2008; Gunson, Klein, Veiga, & Dunbar, 2012; Kleine & Wotruba, 2010; Knapp, Neubert, Schropp, & Wotruba, 2014; Kobzev, 2014; Lessard, de Bakker, & McHugh, 2014; Mazhary & Klein, 2015; Robben, Wotruba, Robben, von Ketelhodt, & Kowalzcyk, 2013). Amongst others, high frequency electromagnetic sensors were developed for ore sorting at MineSense Technologies Ltd. and are subject of this paper. Improving the understanding of ore heterogeneity is the basis for developing a successful semi-bulk or bulk sorting systems by incorporating the sensors in the material handling equipment (MineSense Technologies Ltd., 2016). The present study focuses on the bulk sorting potential and bulk sorting mechanisms of the electromagnetic technology in the pre-concentration of minerals or ores."

Jan 1, 2016

By W. K. Coughlan

The Wabana deposit of Dosco Industries Limited is situated on the east coast of Newfoundland, at Bell Island in Conception Bay. It is a Clinton-type iron-formation of Lower Ordovician age. Five separate beds have been recognized, with others noted locally. Economic production has been obtained from the Lower, Middle and Upper beds, which are second, third and fifth in sequence, al-though at present only the Lower Bed is worked. The potential area of occurrence is about 70 square miles. It i;; bounded by major faults to the north, east and west and truncated by erosion at the south, where rocks of the de-posit crop out on the north side of the island. The iron is contained in oolitic hematite and chamosite, with minor siderite. As the deposit is submarine, conventional exploration methods are not applicable and much interpretation and projection from mined areas is necessary to guide exploration and development. With the interpretation of information from existing mined ores, it is possible, using a minimum of diamond drilling in advance of working faces, to maintain adequate ore reserves.

Jan 1, 1966

By M. du Plessis, G. More O’Ferrall, A. Hartzenberg

"Lonmin Platinum has experienced several cases of large-scale hangingwall instabilities during the extraction of the Upper Group 2 Chromitite Layer (UG2) at a number of the Marikana operations along the Western Limb of the Bushveld Complex. These instabilities were all attributed to the presence and interaction of prominent geological features and highlighted that assumptions made in the design of the stable pillars and stable span were potentially overly simplistic in these areas. Investigations into the various case studies over the past ten years have resulted in the identification and classification of the rock mass characteristics of the geological structures causing the instabilities.In order to get a better understanding of these instabilities, it is important to understand the structural geology in general, and the sequence of events that led to the formation of the Bushveld Complex in particular. The tectonics involved in the formation of the various layers around the economic mineralized layers has been investigated, and the influence of these tectonic events on the stability of the UG2 stopes hypothesized.Following this investigation, the behaviour of the various layers in the hangingwall of the UG2 is better understood. This paper presents a description of the ground conditions being experienced in the underground stoping environment, the possible source of the associated structures and the resultant behavioural mechanism of these structures causing the rock mass instabilities."

Jan 1, 2015

By W. D. Sinclair

"Between 1934 and 1956, nearly 31 million grams of gold were produced in the Matachewan area from deposits on properties belonging to Young-Davidson Mines Limited and Matachewan Consolidated Mines Limited. In 1979, production from these properties was renewed by Pamour Porcupine Mines Limited.Most of the gold produced has come from relatively lowgrade deposits (3.4 gl t or less) that occur in an east-trending belt of dykes and irregular bodies of trachytic syenite. Although small by comparison, these deposits have some of the characteristics of porphyry copper-molybdenum deposits. The mineralized syenite contains up to 5 per cent disseminated pyrite and is highly fractured and cut by quartz and quartzcarbonate veinlets. Gold occurs as native gold along fractures, in quartz veinlets and as minute inclusions in pyrite. Minor chalcopyrite and trace amounts of scheelite, molybdenite and galena are also present. Mineralization was accompanied by potassic alteration, consisting mainly of potassium feldspar.Some gold was also produced from small, but higher-grade, deposits in volcanic rocks. These deposits occur near the syenite-hosted deposits and consist of quartz veins and stringers mineralized .with pyrite and gold. Minor gold is present in some low-grade, porphyry-type copper-molybdenum occurrences and, locally, in large, isolated quartz veins.Lead isotope analyses suggest that the gold deposits were formed at about 2700 Ma and were locally remobilized at approximately 2400 Ma, following the Kenoran orogeny. The deposits appear to be genetically related to felsic magmas emplaced in an epizonal environment and deposited from hydrothermal solutions relatively concentrated in S and K20."

Jan 1, 1982

By J. Mackintosh Bell

External trade strongly influences the well being of all nations. In the modern economic mechanism, no country is so well endowed that it has not to import commodities from others and to export its products in turn to make good its deficiencies, to rectify or improve its financial structure. From the standpoint of international commerce, Canada is strategically well placed. On the south she is bounded by the richest country in the world. On the east she faces the Atlantic, on the west the Pacific. On both coasts there are fine harbours to which lead great lines of railway that span the continent. Canada is now fifth among the exporting nations of the world. For disposal abroad, she has enormous quantities of primary commodities and substantial amounts of manufactured goods as well. But she is far from being self-sustaining. She is unusually dependent on foreign trade, not only because of the commodities she has to sell but because of the lack of many essential articles she does not or cannot produce. To Canada, external commerce is vastly more important than internal trade. The wealth of nations is decided by their ability to produce more than they need, to sell more than they buy, and to build up favourable balances resulting from trade or services. With few countries, however, are returns perennially satisfactory. Fruitful periods are followed by leaner years. In times of prosperity foreign credits are increased, monetary systems strengthened, reserves accumulated to withstand recurring days of strain. Today, the foundations of financial systems are being re-examined, "dogmas hitherto accepted as canonical are being questioned" . It is not only in Europe and America that men search for illumination in problems arising from monetary restrictions.

Jan 1, 1933