BOUNTY ON GOLD
CANADIAN OPERATORS’ CLAIM SUBSIDY FOR ALL PRODUCTION Rec. 11 p.m. OTTAWA, Dec. 8. The goldmine operators of the On--lario and Quebec provinces have informed the dominion Government that they consider a bounty of seven dollars an ounce should be paid on all gold produced instead of only on increased production as proposed by the Government. The operators declare a bounty of seven dollars an ounce the minimum necessary to maintain the industry on a paying basis. They claimed that gold mining costs had risen 12 dollars an ounce since 1939. and that one-third of the mines were now operating at a loss. The United States has expressed opposition to the Canadian Government proposal. United States interest arises from the fact that it buys gold at 35 dollars an ounce and apparently is afraid of an inflationary influence from increased purchases.
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Otago Daily Times, Issue 26640, 10 December 1947, Page 5
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143BOUNTY ON GOLD Otago Daily Times, Issue 26640, 10 December 1947, Page 5
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