Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1873-02-08
The Precious. Metals.

edrlH, ~ estimated 10 be Jour thousand
millions Of dollars from the latter
epoch to the discovery of America, an
other sum Of four thousand millions
was obtained from the date of the
latter event to the close of 1912, an
addition of nine thousand millions
was made, the extensive working of
Russian gold mines in 1913, added to
the close of 1852, one THOUSAND mill
ions more; the double discovery of
the California gold mines in l94S, and
those of Australia in 1851, added to
the closi of last year, FIVE thousand
millions; making a grand total. at the
present time, of twentv-three thous-
and millions of dollars. The average
loss by abrasion OF coin is estimated
to be a tenth of one per cent. per ar
mum, and the average loss by consump-
ton In the arts and destruction by fire
and shipWreek, at from two to eight
millions per annum. The amount Of
the precious metals now in existence
is estimated to be thirteen thousand
millions Of dollars, of which gold fur
nishes seven thousand millions, and
silver the remainder. OF the amount
now in existence, eight thousand mill
IONS are estimated to be coin and bull
lion, three thousand millions in watch
es, ard the remainder in plate, iewelry
and OF aments OF the amount now
in existence, seven thousand millions
are estimated to have been obtained
from America, three thousand millions
from Asia(including Australia and
New Zealand), two thousand millions
from Europe, and the remainder from
Africa
Prior to the commencement Of the
Christian era he .,nnal product of the
precious metals was Il bout two millions
of dollars; from the commencement of
the Christian era to the discovery of
America it was three millions; three
hundred and fifty years it attained to
twenty-five millions; during he decade
Immediately succceling(lSl2 to 1922
it was one hundred millions and since
the double discovery of the California
ana Australia mines( 1858 to 1872, it
has Averaged two hundred and Gtv-six
millions d dollars. The annual pro-
duct Of the precious metals attained its
acme in 1888, when it was $2S5,0O0,-
600 The increased supply from New
Zealand and the Pacific slope Of North
America has not offset the exhaustion
of the California and Australia mines.
The increase IN the amount OF The
precious metals in existence has been
greater during the last Twenty-Five
years than during the previous No.
Boston Giobe.
The MINING THoUB; Es IN WALES.
dispatches dated London, 4th inst,
say:
The proprietors of the several
Galleries in South Wales have an
nounced their intention to in4por,
Cinnamon from California to take the
place q. men on a strike, have receiv-
ed Anonymous letters threatening
them with assassination should they
carry ont their designs
The weather for the past three lavs
ha lie Ii intens.l cold and hundre, 9
Of e sons were frozen to dea h in
England during that time
The excessive Geld is now abatiag.
1t caused great distress in this and
other cities, the poor being unprovid ID
fer weather so unnatural in England
Anothe rise has taken place in the
price OF coal which this morning sold
at 4Ss per ton, and during the day ad-
vanced to 53s Many furnaces and
mills have been compelled to suspend
work and the advance has served to
tatten the market for English railway
securities.
The nickel from which our smaller
coil,s arc made comas from a single
mine, which is the only one in the
country that is now being worked.
This mine is situated in Lancaster
county, Penn. 1t has been worked
for seventeee wears, and developed to
a depth of 200 feet The length of
this lode Is between 1000 and 5000
feet, and it produces from 400 to 600
tons per month, employing in the work
ing of the mine force of It's men
In the ar,s nlcllle is rapidly growing
into favor as q substitute for silver in
plating steel, iron, and other me tals.-
Its commercial demand is rapidly in
creasing, and as 1t is much cheaper
than silver it will undoubtedly be
adopted in the manufacture Of many
articles as a substitute for that most
precious metal.
CALI.-Rev. G Clifton Penck, rec
tor Of the Episcopal Church at Mount
Savage, has received two calls from
city churches, one from the vestry of
Old Christ Church, corner GAY and
Iayctte streets, Baltimore, to the rec
torship Of that parish, and one from a
church in Georgetown, D. C. We hav9
been informed hat he has accepted
the latter.-NeWS.
An English newspaper, speaking Of
the large amount of coal imported from
the | nted States into the United king
dom, thinks it proable that eventually
Il system of iron steam GOLFERS of large
tonnage will carry United States coal