The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-06-03

Io7U, 10 In lSCU. In tn0se ave years tue
increase has been at the rate Of 2l9 per cent while
silver has only increased from l,9790S4b in l846,
to ,663, S6b in 1850, or BAT (345) per cent. The
former metal is therefore, apparently increasing at
the rate of A (43S) per cent per annum, and the
increase in silver is in Mexico, which is doubtless
owing to q variety Of circumstances, such as re-
stored tranquility, richer mines, and greater skill.
1t would not therefore, be safe to count upon such
aggerating in saying that silver is now regularly
increasing throughout the world. 1t may be esti-
mated at an average of two and half per cent per
annum.
It is remarkable fact, however, and worth recall
ing, that in the country where the greatest increase
of silver has taken place, there was concurrently
loss of thousands of pounds of English capital by
the various English silver mining companies; so
much so that none of all the silver mining COM
panies projected to work mines in Mexico between
1924 and 1880, have been successful. Some of them
were being wound up during the very time when
mining was prosperously conducted by the Next
cans. This seems to have been owing to want of
knowledge or Of control, or to the mischief of share
jobbing in the English companies; but, whatever
may have been the cause the natives of that coun-
try have found silver mining to be profitable. The
enormous profit of E2lO,00O year obtained by the
old Spanards from the Valencianna mine, profit
larger than all the tin and copper mines Of England
put together, is generally looked upon more as
fable than reality by those who have heard ca
sualy Of silver mining as conducted by English
mining companies The English gold mining COM
panies have done better, and probably had they
some twenty years ago the skill and knowledge OF
the present day, they would have been highly sue
cessful
The quantity of gold produced in America at the
beginning Of this century was, according to Hum
boldt as 33l h. Troy, and that of silver l3l 77Olb.
In 1916 the produce of gold in America had fallen
to rs, SOB ID. Compared with the silver then pro-
duced viz, 1891, 43l lb the gold was, therefore,
81 times less than the silver In 1850 the yield OF
gold in consequence of the great discoveries in
California in 1913, had risen to POI ,73l h., being
in weight only eight times less than the weight Of
The annual produce Of gold in the whole world
excepting Africa and some parts of Assay at the
commencement Of the century, was in somewhat
greater ratio being h. Of gold to 45 Id. of silver;
Africa. but excepting China and Japan) was at the
rate of to II. In 1850 the produce Of the same
countries had risen to Of gold to Of silver.
AS regards the produce Of gold last year in Cali
to about 49, lie, 500, equal to Ell ,339, 5A. The
yield of the newly discovered gold mining region
at Bathurst, New South Wales, and at Mount Alex
ander and Buninyong, Victoria, may be stated at
fully Gl 100000. Hence there is an increase to the
production of 1850 of l24,3S2 h. Troy of fine gold,
the total produce of gold in 1851 being therefore
4S0,332 lb.; at ESQ los. SD. per ID. pure gold,
equal to g2l,SsAo66 There is much reason to be-
lieve (pde the comparative tablc) that the annual
produce Of silver is now steadily increasing say at
the very low rate of q per cent The yield of silver
in 1881 will thus be 2,729,97O lb Troy, equal to
G9,OO5, 900. Consequently the total value of the
produce of gold and silver last year is e34 1856
But, large as the produce of gold is thus shown to
have been last year, in California and Australia
is likely to be greatly increased this year, it being
confidently expected by the Americans that the re-
cent discoveries Of very rich deposits in various dis
trcts of California, will raise the exports for the
twelve months 100000 900, equal to g2l O4l ,666
This moreover, is very moderate allowance,
the exports alone, in the first three MONTHS are
In tod IN NOR fhon
those Of the corresponding three months of 1851
while, regards Australia late news from that
quarter makes it probable that the produce there will
at least amount TO one half of the yield of Cafor-
MIA in 1850, or g6,O0OOOO The exports merely,
from Australia, up to January 18th, (although gold
dust was selling as low E2 lis per ounce,) have
amounted to 2S4 900 ounces, equivalent to 9I 000,-
600, part Of the yield Of about four months dig
rate as in 1850 1851, viz G6 G5t 522, this added
to the produce of California and Australia, will
amount to G33, 696 lSS, 66l 032 lbs Troy. Esti-
mating the increase in the yield Of silver at 2s per
cent the amount of silver for this year is 2.795 2l9
lbs; at CD is. per lb. equal to g0,234, l22. Tie
total value of both gold and silver for the present
year is, therefore, ZAP 9303IO
The average yearly coinage of gold during the
first thirty years Of this Century was~in Great
Britain, 81 100000 France, GI 800 900; in the
United States G550, 000-total G2, $50 600 The fol-
lowing is statement of tho recent gold coinage in
the same countries beginning with the year in which
the gold discovery was made in California =
Great Britain France. U,'i,ei States. Total
1875. 92.451,eoe sllll472 -s7s6555 s447aOss
sts iSsS G 1s1 49, ss s5 5ss
1851. 90 months) 1oo77,252 12o196e5 -
The gold coinage last year in the United States
exceeded by Ga, S9S, 1927, the largest coinage of
the same metal ever made in the United kingdom
And the coinage in France during the first ten
months exceeded by e556, 4si the memorable coin
age in this country of &c, $40 75S in the year 1921
The annual consumption of the precious metals
exclusive of coinage) in Europe and America, is
supposed to be about Ei,S40,06O, to which there
may be added, for the other quarters of the globe,
Ell ,660, 900 total. 96,500OOO 1t is important,
but difficult, to determine how much of this sum
consists of gold Mr.. Jacob, about twenty years
ago, estimated the annual consumption of gold in
Great Britain at CT $4,000 The other countries
of the globe would at least consume half much
more, making CO, $4,000, to which the annual gold
coinage has to be added. Comparing this total with
the quantity OF gold produced at the beginning of
the century, even for many years after, it then
appears that gold from the mines was not raised in
amount equal to the entire consumption; besides
which. it seems to have been used relatively in
greater proportion than silver and accounts for the
premium in France Of u francs per mile over silver
which gold not unfrequently commanded, till the
recent discoveries, for pound troy of gold in
France. in 1902, was found to be exactly equal-to
l5b Coz of silver, but afterwards became equal to
Is lb. OF. Now, however, the premium is likely
to be reversed most materially, for deducting the
2,454, 900 of gold consumed in the arts from the
supposed yield OF the gold mines in the present year,
viz. G33, 696, 1SS leaves f3l 2i2 ISS to be con.
verted into coin; being larger sum by e5, 239 O53
than the total circulation of gold coin in Great Br-
tain in the year 1850. The general inference that
specie must be accommodating is further borne out by
the fact that, Notwithstanding discounts are UNI
usually low in the three principal cities of the
world yet there is in each city notable increase of
bullion, compared with lS4S as the following table
will show
Bank of England week ending May 1Si3 f12 1926 1903
Do. do Nav s, 1872 23l OST
Bank of France, week ending May 4. lsis.. S5sl1o5
Do (last RETURN April 8. 1882. 2S5o62o4
Banks Of New York quarter ending N h 1913 1404 1875
Do do. March, 1852 202o44S
Summary Of the quantity of bullion in the above
named banks in 1913, and the nearest corresponding
period in 1852
Bank Of Bank of Banks Of Total
,o,a Engiand France, Nep Io,k.
1915. .fl2 S2GlGS f3.534165 .e140L1e5 El7764 sos
1852. 20 231 037 $500 col 2o2eI2s 55I66 $50
Increase Of bullion in 1851. ..........c COS OOo 2o1
BY the last return Of the Bank of England the
specie appears to the value of ego 231 .037-beng
fba ,te1,o I.-.