The true northerner., 1877-08-24
THE FUTURE OF GOLD.
M. re than Halt the supply Gone-Conclu-
slons of an Eminent German Geologist--A
single Gold standard Inexpedient.

| sions of an Eminent German Geologist-A
single Gold standard Inexpedient.
| From the New York Tribune.l
| An eminent German geologist, Herr
Edward Suess, Professor of Geology at
the University of Vienna, and widely
known throughout Europe for his scien-
| tific works and researches, has recently
| published a remarkable book entitled
ssThe Future of Gold"-"Di Zukunft
des Golde." It is much more than mere
collection of facts specially relating to
the production of gold, for it aims also
to supply unquestionable deficiencies In
our previous knowledge concerning the
matter of money, and to apply to eco
nomic phenomena certain natural laws
formulated with scientific precision In
the work in question.
| AS a geologist and mineralogist OF
authority, Herr Suess asserts positively
that the total production OF gold from
the remotest epoch known to the pres
ent time has not been large enough to
authorize the universal establishment OF
the single gold money standard; and
that mankind is in far greater danger OF
an ultimate gold famine than OF the ex-
haustion of the coal-beds of the earth,
as was once apprehensively considered
possible. The existing stock OF gold,
coupled with that which may continue
to be extracted, taken at the maximum
that may be reasonably anticipated,
Prof. Suess mentions, is of 80 little
magnitude relatively as to excite the
rational fear that there will not be
enough of gold for the exigencies OF
| - fhto
clusion-for it is positively that with the
professor-he asserts that one has only
to examine closely on the one side the ex-
tent of the present and prospective de-
mands for gold, and on the other the
guarantees of production afforded by the
mines and fields now operated, together
with the promise which geology holds
out, with reasonable assurance, of the
discovery of new mines adequate to the
maintenance of proper supply OF the
essential precious metal. And upon
these material points the work OF this
eminent German savant is particularly
interesting and instructive.
He asserts that the mines of the
precious metals are simply magazines,
marking the geological transformation OF
their component matter in the super
fetal strata of the earth accessible to
man and these several strata contain
ing the precious metals he subdivides
or distinguishes into three classes. The
first class contains gold and silver, mi
nutely scattered through the rock, and
this is the earliest condition. In this
class occur deposits of gold, blended
with platinum and other metals In q
metallic stage, such as is found al
Nijni-Tapil, in the Ural mountains.
This particularly gold-bearing stratum
is rare, and so insignificant in its pro-
duction that it is really not to be taker
into consideration in estimating the
metallic resources for the worlds none
tary system. In the second class Herr
Suess places the seams or assures which
have been wrought by volcanic action
to which class belongs the so-calleC
"bonanza" of Nevada, the lodes o.
veins of New Granada and of the Car
pathian mountains, those of Victoria, o
Queensland, and some of the "gauges'
of New Zealand.
AS for the third and last class o
sources or deposits of the preciou
metal, or rather of gold, it has its Origin
|
displacement of strata or beds of tn,
metal formerly contained in the interio
of mountains, effected by water ant
the air. These two powerful transform
ing agents have, in time, decompose'
the older strata, carried them away b,
means of water courses, and fOrme'
those beds of gold and platinum-b bearing
gravel and alluvium which consti
tute the great gold-felds of Cali
fornia, Australia, New Zealand, and tn
Ural. They are mined by hydrauli
processes.
!, Herr Suess estimates the total produc
ton of gold for the quarter of centur
ending with 1875 at 16, ,S04, 600, 600 franc
($3, 249, ,0O0, ,O00), of which IA, 7S3, 900, 90
francs were supplied from the alluvia
or placer mines, and the remainder
2,021 900, 900 francs 1891 ,00c, ,000), wa
derived from all other sources. Thus
it is this last class of gold sources whic
must play the decisive part in the suppl
of gold in the future. Upon this poir
: ogist is this:
From all geological revelations th
production of gold must essentially dc
pend upon those parts of the earth wher
for certain time the primitive forma
ton was left exposed at the surface.
we mark upon sphere all such spaces
; excluding the seas, oceans and lakes, tin
steppes, salt, waterless deserts, and re
gions covered by Polar ice and eterna
: snow, and deduct the ground which ha
been exhausted, more or less, in tn
course of ages since the period whe
Ramses III. sunk shafts in the Akita, tn
gold field of that epoch, we must neces
2 sarily reach the conclusion that up
the present time more than half OF tn
5 quantity of gold which could possibly b
7 extracted from the earth by any mean
us yet known has already come into tn
a hands of man."
Q There is also reason for expecting TIN
I. exhaustion of the supply to be reache
all the speedier because of the immense
ly greater scale and improved processe
s by which mining is now carried on, an
Y the great depths that are now reached
Il Consequently the period when the pre-
a duction of gold shall diminish in pei
l. manent manner and degree is relativel
e approaching, and it must unavoidabl
a x.w.Al IL. a