Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1874-07-01
GOLD AND SILVER

Scattered Over the World. 5hu et 9tlr :
I'd From the San francisco Chronicle, June 8. b.
Notwithstanding the expanded ideas
of California wealth that exists abroad
and at home, it will surprise not a few
to learn that one-third of all the gold
and silver coined and uncoiued in the
world, and half of that used in Amer
lea, Europe, and Australia, has been
the product Of the Pacific coast from
1S48 to 1874.
THE PRECIOUS METAL PRODUCT OF THE
! COAST
1 has nearly equaled value of 81, 6OO,-
100000, the exact figures being 81 ,5S3,
634. 934, of which 81, 247 500, SOB was
gold, and 1926, 135, 431 silver. But for
the immense product poured into the
Golfers of commerce, it is difficult to
imagine how the latter could have been
carried on, enormous as its increase has
been without a corresponding deprecia-
ton in prices, or vast expansion fthe
system of credits and paper money. To
supplied nearly 5000, 900, 600 of all the
precious metals used in coinage and the
4 arts since the foundation of the Govern
ment. The total amount coined up to
the end of 1873 was nearly $3.50, OOO,-
900, of which $3.50, 100000, had bee
from California gold and silver.
What would have been done without
this, and how commerce could have
been carried on with foreign nations,
are questions that are puzzling. It
seems indeed, that the general progress
of not only the Pacific coast, but of the
whole nation, would have been
very sensibly retarded. England since
1913 has loaned eight thousand
million dollars to the nations, and
this she has been enabled to do by means
of the gold and silver product of Amer
lea and Australia-mainly the former.
At least five thousand millions of this
sum, bringing yearly interest of two
hundred and fifty millions of dollars,
has been derived from the Pacific coast.
Nearly all that we have sent East, and
$3.50, 900, 900 more, has gone thither and
has been loaned some half a dozen times.
England lends gold and silver obtained
from the United States, in exchange for
goods to France. France pays it back
again for merchandise Then it is Dor
rowed by 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 some
times made to perform the work of a
dozen, and hence it is that the capital
lists of England grow rich on the hand
ling of the product OF our lodes and
placers, ...
, THE PRODUCT OF EACH SECTION OF THE
SLOPE.
OF the whole yield California has pro
duced three-fourths, or 81 1854, 919, 09S
nearly, all gold with small sprinkline
of silver. 1t is thought that there exists
mammoth silver lodes in various parts
of the state, but they all pale their eff
fectual fires before the wondrous ores o.
Nevada. This state comes next, having
produced since 1860 upwards of 1921,
4O2, 4l2 in gold and silver, three-fourths
having come out of the wonderful
mines of Comstock. The greater por-
ton of this has been silver, although in
many mines the gold forms at least one
third Of the precious metal yielded in
the assay. Utah, though long known
as country rich in the precious metals,
has only lately been producer of them.
The territory has produced $1S, 527, 527,
principally silver, and is increasing in
production at a great rate. In fact, it's
resources III this way are simply mex
haustlble. Montana first became known
III 1862, and for two or three years it's
placers gave great promise, but they
have lately ceased to yield much, the
quartz mining is not being pushed with
sufficient vigor to make amends for the
failures of the placers. Ithas produced
altogether up to the present time $119,
309, lat. The same may be said of Idaho,
which has produced s57, 249,1 Colo
RADIO, as a mining field, is just about
being developed, and viii make for it.
self, by and by, as great a name as Ne
vada or California It has produced
about $30,OOO,O0O. Oregon and Wash
ington have a history very similar to
that Of Idaho, they have produced $25,
sol, $50. British Columbia has added
about $4,000, 900 to the riches of the
coast, and Arizona a small sum !; but
the territory is capable Of being made to
support large mining population.
Its being named at present as mining
territory is seeming misnomer, as its
yield is very small, but it has great and
ol1esO fOioPOo ihiAiAS CI1pf'C1C1Oo.
For the last seven years the yield of
the precious metals on this coast has
been increasing steadily, last year hay
ing increased about IA per cent, being
$50, 2S7, 436, against $40, 206, 914 in 1872.
This was principally due to Nevada, the
increase of which was unprecedentedly
great. But the yield of Idaho and Mon
tana has been forsome years decreasing,
on account of theirplacers being worked
out and their quartz lodes not being
sufficiently developed.
HOW THE PRECIOUS METALS ARE PREPARED
FOR SHIPMENT.
When gold and silver belongs to any
of the great mining companies it is usu-
ally made up in bars and forwarded
by express. Most of these companies
have particular banks, either here or in
New York, to which they sell all they
have. But there are many small COM