Item number:

Year: AD 1932

Material: Paper

Provenance: Jerry’s Vintage Trading 2025

In Chapters Nos. 8 and 9 of “The Story of Gold,” which he is broad-casting daily in serial form from Station XER at Villa Acuna, Mexico, on the Rio Grande River, opposite Del Rio, Texas, the most powerful broadcasting unit in the western hemisphere, in the interest of the precious metal mining industry, in general, and the Goldfield Deep Mines Company of Nevada, in particular, Ray D. Harris, Goldfield dealer in mines and mining securities, outlined a novel and highly interesting theory in advocacy of the raising of the standard value of gold from $20.67 to $40 an ounce.

Mr. Harris maintains that such action by the nations of the world would do more to effectually and quickly restore prosperity through-out the universe than would any other line of procedure, of which he can conceive. Since the broad-casting of the chapters outlining his plan Mr. Harris has received numerous letters from various sections of the country endorsing his ideas.

The chapters of “The Story of Gold” referred to follow:

Chapter No. 8

“The present gold standard, which fixes the value of chemically pure gold at $20.67 per ounce, has been in force about 116 years. Since all commodities which enter into human existence have increased in value, and the shortage of gold is steadily growing, it would seem that the present fixed value of gold has outlived its usefulnes and is sorely in need of adjustment—upward.

“Latest available statistics show that the current supply of the monetary gold of the entire world amounts to eleven billions of dollars, more or less. Of this total supply, the United States of America possesses 38.7 per cent, France 19.3, England 6.7, Germany 4.8, Spain 4.3, Argentine 3.8, Japan 3.8, Italy 2.5 and Russia 2.3, making a total of 86.3 per cent. The remaining 13.7 per cent is distributed among the smaller nations. These figures were taken from data of the United States Federal Reserve Board. It is apparent from the figures given that the United States alone holds more than one-third of the world’s supply of gold, the United States and France combined 58 per cent and the United States, France and England together 64.7 per cent or nearly two-thirds.

True, “In view of current world-wide business conditions, it is inconceivable that the advisability of raising the fixed value of gold, both of present supply and future production, has not been given the serious consideration it deserves. there has been for the last two or three years quite a little discussion along the line, but to date, so far as I have been able to observe and am informed, no real thought has been given the subject. In my opinion, it should have been considered by the leaders of all nations long ago and a plan to carry it to fruition evolved by them, since such an accomplishment should prove a panacea for the present day financial problems of not only the United States but the entire world.

“Let us suppose that the fixed value of gold were raised to $40 an ounce, roughly twice the present gold standard. Immediately gold a mining would receive stimulus that would benefit all industries and through their resumption all unemployment would vanish and prosperity would again reign. There are scattered throughout the mining regions of the United States and other countries innumerable mines that are idle because the gold content of their ores is too low to permit of their profitable operation under the present gold standard. Take for example a mine with ore having a gold value of, say, $2.50 a ton, Un-der present prices of all materials used in mining and labor costs, such ore is worthless, generally speaking. If the value of gold were increased to $40 an ounce, that ore would instantly become worth $5 a ton and could be mined at a profit. The owners would lose no time in resuming the operation of the property. To do so, it would be necessary to employ miners and other workmen and purchase mining sup-plies of all kinds. Miners thus employed would have buying power and trade in all lines would be stimulated. There is not a single branch of industry or human endeavor that could possibly escape being benefited.

“It is not possible for me to give my views on this subject in one chapter of “The Story of Gold”; therefore, I will have to continue my remarks on the advisability of readjusting the gold standard in the next chapter.”

Chapter No. 9

“Since the United States holds more than one-third of the monetary gold and is a creditor of all other nations, it is eminently proper that it should initiate a movement for a higher fixed value on the yellow metal by calling a conference of representatives of all the powers. It is my belief that, if England today held the enviable position United States enjoys in the possession of monetary gold, it would not hesitate launching such a project. By the same token, it seems certain that England, and France as well, would approve the plan. The three nations would undoubtedly willingly follow, especially since by such a course all would profit.

War Debts

“The question naturally arises aa to how all the nations would bene-fit. War debts is the first and primary answer. There are others, however. Doubling the price would in like measure increase the value of monetary gold held by each of them and in place of $2 in gold. under the present standard, they would pay only $1 in gold, under the new fixed value thereof. Manifestly, all nations would be heartily in favor of such procedure. It would be silly for them to be otherwise. And the United States would lose nothing; in fact, it would gain, since debts owing to it could be more readily and easily paid and its present monetary gold supply be doubled in value and its volume enlarged in proportion to receipt of foreign gold on account.

“I fully realize that, if the course suggested was not properly safe-guarded, profiteering on a gigantic scale would be possible by private interests, such as banks, or individuals possessing gold. However, such a contingency could be easily met and instead of private interests and individuals reaping the benefit of an increased fixed gold standard such would inure to the people of all the nations of the earth collectively.

International Agreement

“To illustrate: Assume that, by international agreement, the fixed value of gold was raised to $40 an ounce. To preclude the possibility of profiteering, it would be necessary for each nation to call in, at the old fixed value of $20.67 an ounce, all gold then held by banks, citizens, etc., and enact a law im-posing a severe jail penalty for non-compliance by a certain date in all countries. The same law would re-quire all possessors of gold in the form of jewelry, ornaments, etc., to file annual declarations thereof for taxation purposes and to prevent their sale under the new fixed value and compel them to report to their respective governments any sale thereafter of any part of such pos-sessions, together with the name of the purchaser. In this fashion, ac-count could be kept of all gold used as jewelry or ornaments and an equitable tax placed thereon.

“My plan further contemplates the making of the treasury departments of the respective governments the sole purchasers and sellers of gold, with authorized bonded representatives in all important cities and mining districts to handle such transactions and keep absolute check thereon. It would be my idea also that gold for use in the arts be sold by the governments at a sufficiently advanced price above the new fixed gold standard as to de-fray the cost of handling, such purchases and sales and the coinage of money in various denominations.

Invites Criticisms

“I shall be pleased to receive constructive criticisms of my ideas along the lines explained. Further-more, if any listener-in has, or thinks he has, a better plan de-signed to alleviate the present World economic problems, I shall be, in-deed, grateful if he will briefly ex-plain it to me by letter. If his plan appears practicable, I will cheerfully broadcast it from this station, giving the name and address of the author.”

In the hope of obtaining consideration of his theory by persons in a position to bring it to the attention of the general public, Mr. Harris sent copies of the chapters named to United States Senators Tasker L Oddie and Key Pittman, and Congressman Samuel S. Arentz, of Ne-vada, now in Washington, D. C., in attendance upon the current session of Congress, calling their attention thereto.

Congressman Arentz Letter

Congressman Arentz has replied as follows:

Congress of the United States, House of Representatives, Washing-ton, D. C., May 5, 1932:

Mr. Ray D. Harris, Goldfield, Nov.-

Dear Mr. Harris: I am in receipt. of your letter of April 30th request-ing me to read the contents of the enclosed copies of “The Story of Gold” and asking me particularly to listen-in to a broadcast over Station XER, on the Mexican side of the Rio Grande River.

Having just received your letter it was not possible for me to hear the chapters enclosed with your let-ter but I shall take pleasure in endeavoring to locate this station at the earliest opportunity. I have read the chapters sent me with a great deal of interest and I believe your proposition a rather novel as well as interesting proposal.

I sincerely hope that Goldfield Deep Mines will find a greater mine than Goldfield Consolidated. Mr. D’Arcy and his associates are to be congratulated on their sticktoitiveness, energy and honesty in the way they are proceeding with this development.

With kindest regards and all good wishes, I remain,

Sincerely yours,

SAM S. ARENTZ.

Congressman In replying to Arentz’s communication, Mr. Harris wrote him as follows:

Goldfield, Nevada, May 9, 1932.

Hon. Samuel S. Arentz, Congressman from Nevada, Washington, D. C.

Dear Congressman:

I have your valued favor of the 5th inst., acknowledging receipt of my previous letter of the 30th ult., inclosing copies of Chapters Nos. 8 and 9 of “The Story of Gold,” in connection with which I am making daily broadcasts from Station XER.

I am happy to know that you have read Chapters Nos. 8 and 9.

explaining my theory of how and why the fixed value of gold should be increased by inter-governmental conference from $20.67 to $40 per ounce. It pleases me to know that you consider my plan a rather novel as well as interesting proposal.

I will greatly appreciate it if you will confer with Senators Oddie and Pittman, as well as other members of the Senate, in reference thereto. I desire to obtain constructive criticisms on it, and would like you to advise me as to not only what Senators Oddie and Pittman think of it, but other members of the House and Senate, particularly the mining committees of both branches of Congress. It may be advisable for you also to discuss it with members of other committees of Congress un-der the jurisdiction of which such subjects may more properly come than the mining committees.

Thanking you for your letter and anticipating the pleasure of hearing from you again at an early date, for which I enclose herewith self-addressed, airmail stamped envelope, I am,

Sincerely yours,

RAY D. HARRIS.

Letter From Senator Oddie

The reply from Senator Oddie reads as follows:

United States Senate, Washington,

D. C., May 5, 1932.

Ray D. Harris, Esq., Goldfield Deep Mines Company Goldfield, Nevada. of Nevada,

My dear Mr. Harris:

I have received your letter of the 30th ultimo, together with your articles on “The Story of Gold,” for which I wish to thank you.

We are working under extraordinary pressure now on some important matters affecting the state of Nevada, but I shall look forward with pleasure to reading your articles in the near future. I also hope to be able to hear your radio talks on the subject.

With my best wishes, I remain,

Very sincerely yours,

TASKER L. ODDIE.

As a reply to the above letter, Mr. Harris has written Senator Oddie as shown below:

May 11, 1932.

Hon. Tasker L. Oddie, U. S. Senator from Nevada, Senate Office Building, Washington, D. C.

Dear Senator:

I have your valued favor of the 5th inst., acknowledging receipt of my previous letter of the 30th ult., inclosing copies of Chapters Nos. 8 and 9 of “The Story of Gold.”

I can readily understand that you are, as you state, working under extraordinary pressure at this time. However, I am glad to know that you will at your earliest convenience, read over and give consideration to the chapters of “The Story of Gold” sent you.

I am also in receipt of a letter from Congressman Arentz acknowledging receipt of the same chapters of “The Story of Gold.” In reply, I have written Congressman Arentz requesting that he take up with you and Senator Pittman the subject of the two chapters referred to.

Thanking you for your letter, and anticipating the pleasure of hears ing from you again at an early date, I am,

Sincerely yours,

RAY D. HARRIS.

Mr. Harris states that thus far he has not had a reply from Senator Key Pittman.

物件編號:

年代: 公元 1932 年

材質: 紙

來源: 傑瑞復古交易 2025

在《黃金的故事》第 8 章與第 9 章中，
他正在從位於墨西哥維拉阿庫尼亞、格蘭德河畔、與德州德爾里奧相對的 XER 電臺，以連載形式每日廣播，
這是西半球最強大的廣播單位，
為了貴金屬採礦業的一般利益，並特別為內華達州 Goldfield Deep Mines 公司的利益，
Goldfield 的礦山及採礦證券商 Ray D. Harris，提出了一項新穎且極具趣味的理論，
主張將黃金的標準價值從每盎司 20.67 美元提高到 40 美元。

Harris 先生認為，若各國採取此舉，將比他所能想像的任何其他方式，更能有效且迅速地恢復全世界的繁榮。
自從廣播闡述其計畫後，Harris 先生收到來自全國各地許多信件，支持他的構想。
所提到的《黃金的故事》章節如下：

第 8 章

現行黃金標準，將化學純金的價值定為每盎司 20.67 美元，已實施約 116 年。
既然所有與人類生活相關的物資皆已增值，而黃金短缺也在不斷加劇，
那麼現行的黃金固定價值似乎已超過其使用效益，亟需向上調整。

最新的可得統計顯示，全球目前的貨幣黃金供應量約為 110 億美元左右。
在這總量中，美國擁有 38.7%，法國 19.3%，英國 6.7%，德國 4.8%，西班牙 4.3%，阿根廷 3.8%，日本 3.8%，義大利 2.5%，俄國 2.3%，合計 86.3%。
剩餘 13.7% 分布在較小的國家之中。
這些數據來自美國聯邦儲備委員會。
從上述數字可見，美國單獨就持有全球超過三分之一的黃金，美國與法國合計 58%，美、法、英三國合計 64.7%，即將近三分之二。

鑒於當前全球的商業情勢，要想像提高現行黃金固定價值之可行性未獲得應有之重視，是不可思議的。
過去兩三年來，雖已有一些討論，但迄今為止，就我觀察與所知，並無真正深入的思考。
依我之見，各國領袖本應早就研究此事，並制訂出一套實施方案，
因為這樣的成就很可能成為今日金融問題的靈丹妙藥，不僅對美國，也對全球有益。

讓我們假設將黃金的固定價值提高到每盎司 40 美元，大約是現行標準的兩倍。
立即地，黃金採礦業將受到刺激，進而帶動所有產業的活躍，而隨著其恢復運作，失業將消失，繁榮將再度降臨。
在美國及其他國家的採礦區，有無數礦山因其礦石含金量過低，在現行黃金標準下無法獲利，因此處於停工狀態。
例如，一座礦山的礦石每噸含金價值僅 2.50 美元，在現行的材料及人工價格下，這類礦石一般都毫無價值。
若黃金價值提升至每盎司 40 美元，該礦石將立即變為每噸 5 美元，便能盈利開採。

礦主將毫不遲疑重新開始運作，並必須僱用礦工與各類工人，購買各種採礦用品。
礦工受僱後便有消費能力，並能刺激各行各業的交易。
沒有任何一個產業或人類活動領域能逃過其帶來的好處。

我不可能在本章中將此議題全部說完；因此，我須在下一章繼續討論調整黃金標準的必要性。

第 9 章

既然美國持有超過三分之一的貨幣黃金，且為所有其他國家的債權國，
那麼由美國召集各強國代表開會，以提高此黃金固定價值，可謂理所當然。
我相信，若英國今日擁有如美國般的貨幣黃金地位，它絕不會猶豫推動此計畫。
同理可證，英國與法國也必然會支持此方案。
其他國家也會樂於跟隨，因為如此一來，各國都能受益。

戰爭債務

問題自然出現：各國將如何受益？
第一個也是最主要的答案是戰爭債務。
當然還有其他原因。
價值翻倍也將同等提高各國所持貨幣黃金的價值，
在現行標準下需支付 2 美元的黃金，在新標準下只需支付 1 美元即可。
顯然，各國都會非常贊同此舉，不贊同才是愚蠢的。
而美國不會損失，反而獲益：
欠美國的債務將更容易償還，而美國現有的貨幣黃金價值將加倍，
其數量亦將因外國償債而相應增加。

我完全明白，若未妥善保障，私人利益（如銀行或私人持金者）可能會進行大規模投機。
然而，這種情況很容易被防堵，並且可以使所有國家的人民集體受益，而非私人獲利。

國際協議

舉例而言：假設透過國際協議，將黃金固定價值提高至每盎司 40 美元。
為防止投機，各國必須以舊價每盎司 20.67 美元徵收所有銀行與公民所持有的黃金，
並制定法律規定，任何人在限期內不遵守者需受嚴厲監禁。
同時，法律還需規定所有持有金飾、金器等的人，每年申報，以作為課稅及防止按新價出售之用，
並強制其於任何出售後向政府報告，包括買方姓名。
如此，各國便能掌握所有作為飾品之黃金並公平課稅。

我的計畫也包括：由各政府之財政部作為唯一合法的黃金買賣者，
並在各重要城市與採礦區設置經授權之保證代表處理黃金交易並嚴格監督。
此外，用於工業的黃金應由政府以略高於新標準價的價格出售，以支付處理及鑄幣成本。

歡迎批評與建議

我願意收到對我構想的建設性批評。
若有聽眾擁有或自認擁有更好的方法來改善當前全球經濟問題，
我將非常感激其以信件簡述，
若方案可行，我會樂意在本電臺廣播，並公布作者姓名與地址。

為了讓具影響力的人士能將此理論呈現給大眾，
Harris 先生寄出前述章節給現於華盛頓出席國會會期的美國參議員 Tasker L. Oddie、Key Pittman，及眾議員 Samuel S. Arentz，
並提醒他們注意此事。

眾議員 Arentz 的來信

以下是 Arentz 眾議員的回信：

美利堅合眾國國會，眾議院，
華盛頓，D.C.，1932 年 5 月 5 日：

Ray D. Harris 先生
內華達州，Goldfield：

親愛的 Harris 先生：
我收到您 4 月 30 日的來信，信中請我閱讀所附《黃金的故事》的內容，並特別要求我收聽在格蘭德河墨西哥一側、XER 電臺的廣播。

因為剛收到您的來信，我無法收聽您信中所附章節的那期廣播，但我會盡快嘗試找到該電臺。
我閱讀了您寄來的章節，深感興趣，也認為您的提議相當新穎且頗具意義。

我真誠希望 Goldfield Deep Mines 能找到比 Goldfield Consolidated 更大的礦。
D’Arcy 先生及其同事在其開發方式上的堅持、活力與誠實，值得讚賞。

致上最誠摯的問候與良好祝願，

真誠的
SAM S. ARENTZ
（阿倫茲眾議員）

Harris 寫給 Arentz 的回信

內華達州，Goldfield
1932 年 5 月 9 日

尊敬的內華達州眾議員 Samuel S. Arentz
華盛頓，D.C.

尊敬的眾議員：

我收到您 5 日的回信，確認您已收到我 4 月 30 日先前寄出的信件，其中附有《黃金的故事》第 8 與第 9 章，並說明我正在 XER 電臺每天廣播的內容。

我很高興得知您已閱讀這兩章，其中我說明了為何以及如何，應透過政府之間的會議，將黃金固定價值從每盎司 20.67 美元提高至 40 美元。
得知您認為我的計畫相當新穎且有趣，使我十分欣慰。

若您能就此事與 Oddie 與 Pittman 參議員，以及其他參議員進行討論，我將不勝感激。
我希望能收到對此計畫的建設性批評，並希望您能告知我，不僅是 Oddie 與 Pittman 參議員的意見，也包括眾議院與參議院的其他成員，特別是兩院的採礦委員會。
另外，也可能需要您與其他更適合處理此類議題的委員會成員討論此事，而不僅限於採礦委員會。

感謝您的來信，並盼早日再收到您的消息。
我隨信附上一個寫好我地址的航空郵票信封，以便回覆。

至上敬意，
RAY D. HARRIS

Oddie 參議員的回信

以下是 Oddie 參議員的回覆：

美利堅合眾國參議院
華盛頓，D.C.
1932 年 5 月 5 日

Ray D. Harris 律師
內華達州 Goldfield Deep Mines Company
Goldfield，內華達州

親愛的 Harris 先生：

我已收到您 4 月 30 日的來信以及您寄來的《黃金的故事》文章，謹此致謝。

我們目前正承受極大的工作壓力，處理一些與內華達州相關的重要事務，
但我會期待在近期抽空閱讀您的文章，另外我也希望能收聽您在此主題上的廣播。

致上最誠摯的問候，

非常真誠的
TASKER L. ODDIE
（奧迪參議員）

Harris 寫給 Oddie 的回信

1932 年 5 月 11 日

尊敬的內華達州聯邦參議員 Tasker L. Oddie
參議院辦公大樓
華盛頓，D.C.

親愛的參議員：

我收到您 5 日的回信，確認已收到我於 4 月 30 日寄出的信件，內含《黃金的故事》第 8 與第 9 章。

我完全理解您目前如信中所述，正承受極大的工作壓力。
然而，我很高興得知您會在最方便的時候閱讀並考慮我寄給您的《黃金的故事》章節。

我也收到眾議員 Arentz 的來信，確認他已收到同樣的章節。
在回覆中，我已請 Arentz 眾議員與您及 Pittman 參議員一起討論這兩章的內容。

再次感謝您的來信，並盼早日收到您的再次回覆。

此致敬禮
RAY D. HARRIS

Harris 先生表示，至目前為止，他尚未收到 Key Pittman 參議員的回信。