Pity the Gold Miner!

1920

One might imagine that if he could discover a gold mine he would have a fortune. But time has brought changes. Among them has come a depreciation in the purchasing value of gold, due largely to the cheap American dollar and to the large flow of gold from abroad during the war.

When prospectors first rushed to Alaska, says the Cleveland Plain Dealer, little trouble or expense was entailed in procuring the yellow metal. Nuggets could be found on or near the surface, and the dust was easily washed out of sand taken from the beds of mountain streams. Now expensive machinery must be employed and "pay dirt" is usually found only after much labor. The results are indicated by the unprofitable business reported by one Alaska gold mining company for 1919.

During the year it cost this company $1,744,869 to produce $1,467,389 worth of gold, leaving a deficit of $277,480, as against a loss from operations the previous year of $96,945.

Those who find cause to complain because of their hard lot since the war, would do well to consider the unfortunate position of the gold miners. They comprise one group which cannot profiteer.

—The Saturday Blade, Chicago, March 20, 1920, p. 6.