Ashtabula telegraph. (Ashtabula, Ohio) 1874-1880, 1874-06-27
From the San Francisco Chronicle
GOLD AND SILVER.

ideas of California wealth that exists
, abroad and at home, it will surprise
not few to learn that one-third of
all the gold and silver coined and un-
coined, in circulation in the world,
and half of that used in America,
Europe and Australia, has been the
product of the Pacific coast from
1848 to 1874.
The precious metal product of the
coast has nearly equaled value of
$1,6OO,O0O, 900, the exact figures be-
ing 81, ,5s3, ga, 9S4, of which sI,S47-
5O9,503 was gold, and 1926, ,IS5. AL
silver. But for the immense pro-
duct poured into the Golfers of com
merce, it is difficult to imagine how
the latter could have been carried On
enormous as its increase has been
without corresponding depreciation
In prices, or vast expansion of the
system of credits and paper money.
To the United States, in particular
it has supplied nearly 5000, 900, 900
OF all the precious metals used in
coinage, and the arts since the foun-
dation of the Government. The to-
tai amount coined up to the end of
1868 was nearly $3.50, 900. 600. of
which S75O,0O0,000 has been from
California gold and silver. What
could have been done without this.
and how commerce could have been
carried on with foreign nations. are
questions that are puzzling. 1t seems
indeed, that the general progress of
not only the Pacific coast, but of the
whole nation, would have been verv
sensibly retarded. England, since
l848, has loaned eight thousand mil
lion dollars to the nations. and this
she has been enabled to do bv means
of the gold and silver product of
America and Australia-mainIy the
former At least five thousand mil
lions of this sum, bringing a yearly
interest of two hundred and ffty
millions of dollars, has been derived
from the Pacific coast. Nearly all
that we have sent East, and $780,
100000 more, has gone thither and
has been loaned some half a dozen
times. !England lends gold and sill |
yer obtained from the United States
in exchange for goods to France. |
France pays it back again for mer-
chandise. Then it is borrowed bv
Germany, and by that nation paid |
back for manufactures, when it is
again Loaned to Russia, and so on.
By this system one dollar in coin is
made TO perform the work of a doz-
en-, and hence it is that the capital
lists of England grow rich on the
handling of the product of our lodes
and placers.
THE PRODUCT OF EACH SECTION OF
THE SLOPE.
Of the whole yield California has
produced three-fourths, or 1904
9I9,09s, nearly all gold, with a small
sprinkling of silver. 1t is thought
that there exists mammoth silver
lodes in various parts of the State,
but they pale their Intellectual
fires before the wondrous ores of
Nevada. This State comes next,
having produced since 1860 upwards
of 1921, ,4O2,4l2 in gold and silver,
three-fourths having come out of tie
wonderful mines Of the Comstock.
The greater portion of this has been
silver, although in many mines the
gold forms at least One-third of the
precious metals yielded in the assay.
Utah, though long known as coun-
try rich in the precious metals, has
only lately been producer of them.
The Territory has produced $1s,-
527, ,527, principally silver, and is in
creasing in production at great
rate. In fact, its resources in this
way are simply inexhaustible. Mon
tana first became known in 1862, and
for two or three years its placers
gave great promise, but they have
lately ceased to yield much, and
quartz mining is not being pushed
with sufficient vigor to make amends
for the failure of the placers. 1t has
produced altogether up to the pres
ent time $l19,3O8,158. The same
may be said of Idaho, which has
produced $57,S49, 1877. Colorado, as
a mining field, is just about being
developed, and will make for itself,
by and by, as great name as Neva-
da or California. 1t has produced
about $9O,OOO,OOO. Oregon and
Washington have history very
similar to that of Idaho. They have
produced S25, 5,5O1,25O. British Co
iumbia has added about $6,0O0,OO0
TO the riches of the coast, and Arizo-
ma a small sum, but that Territory is
capable of being made to support a
large mining population. Its being
named at present as mining terri
tory is seeming misnomer, as its
yield is very small, but it has great
and undeveloped mining capacities.
For the last seven years the yield
of the precious metals on this coast
has been increasing steadily, last '
year having increased about l4per !
cent, being $50, ,2S7, ,436 against S7O,' I
2s6, 6,9I4 in 1872. This was primer,
pally due TO Nevada, the Increase " '
which last year was unPreeG1edT;hteui1s
great. But the yield OF Idaho ana
Montana has been for SOME years oe- {
creasing, on account OF the!r PAaceIs /;
L..;no worked out. and their quartz
Iodes9 not being sufficiently develop
ed.
now THE PRECIOUS METALS ARE PRE-
PARED FOR SHIPMENT.
when the gold and silver belongs
70 any of the great mining compa-
nies it is usually made up in bars and
by express. Most of these
have particular banks
either here or in New York--to which
they sell all they have. But there are
many small companies, and many
of white and Chinese mi
ners who sell their dust to the store
keeper with whom they deal, or to
small country banks and brokers,
who make business of it, and who
sell it to the big banks. Nearly all
the big banks have agents for pnrc
chasing in this way. The Bank Ol