VALUATION IN ITS INTERNATIONAL RELATIONS
For mineral commodities of limited supply and steady demand, market conditions may be more or less taken for granted, and valuation may be based on local considerations. For a large number of mineral resources, however, the competitive market conditions are anything but stable, because of foreign competition. It is necessary not only to know the basis for this competition, but also to be able to follow intelligently its various changes. The value of many of our mineral deposits in recent years has varied widely with changes in the foreign situation.