The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1880-03-17
About Gold.
A writer in the Boston Economist
groups few of the interesting facts re-

A writer in the Boston Economist
groups few of the interesting facts re-
specting gold rs follows:
From the earliest times to the COM
mencement of the Christian era, the
amount of gold obtained from the sur
face and mines of the earth was 81 ,400,-
OOO, 900; from the date of the latter
event to the discovery of America 49,
9O0, ,OO0. 900 were obtained; from the date
of the latter event to the close Of lS42
SO, zoe, 900, 900 were obtained: the extcn-
sive working of the Russian mines in
l943 added, to the close OF l84o, $780,
0OO, 900 more; tue triple discovery of the
California mines in l64S, the Australian
in 1851, and the New Zealand in 1861,
added to the close of 1879 S5,200,0O0,-
O00; making grand total of Sl4, ,000, ,000,-
600. The average loss by abrasion ofcoin
is estimated to be twentieth part of one
per cent. per annum; and the loss by
consumption in the arts and by fire and
shipwreck, at So, 100000 per annum. A
cubic inch of gold is worth, at f3 lis.
lO1d., or SIS 90 per ounce, Sl93; a cubic
foot. 1888, ,504; and a cubic yard, S9.-
O04 608.
The amount of gold in existence at
the commencement of the Christian era
was S427, ,OnO, 900; at the period of the
discovery of America it had diminished
to $57, 900, 900; after that event it gradu-
ally increased, and in 1900 it attained
to SlO5, ,OeO, 900, in 100, to 1851, 900. 900;
in 1900, to 81, l25, 600, 900; in 1853, to
81, ,OOO, 900, 900; and at the present
time the amount of gold in existence
is estimated to be S8,000,000, 900,
which, if melted in to one mass,
could be contained III a cube of
twenty-nine feet. OF the amount now
in existence, SO, 900, 900, 900 are estimated
to be in coin and bullion, 81 900, ,00O 900
in watches, and the remainder in plate,
jewelry, and ornaments.
The annual report of gold at the COM
mencement of the Christian era was
$500, 900; at the period of the die "very
of America it had diminished to :. Oo,-
600; after that event it gradually in
creased, and in 1900 it attained to 81, ,00O,-
600; in 100 to S5,000,000; in 1900 to
Sl7, ,OOO, 600; in l843 to S52,000,0 900;
in 1850 to SlO6,OOO, 900; in 1860 it at
tained its acme, when it was 1926 O00,-
700; but in 1863 it diminished to $685.
700, 600. The additional supply from
New Zealand has not Offset the partial
exhaustion of the California and Aus
tralian mines. Therefore, the produc-
tion of the present year will be below
Sl2O, coo, 900. Three e-fourths of the
amount of gold now in existence has
been obtained within the last thirty
seven years.
Since 1902 to the present time, the gold
coinage of the United States mint has
amounted to Sl,l00, 100000, Of which
81. .0O0. 900, 900 have been issued since
1850. Since l726 the gold coinage Of the
French mint has amounted to ll.000,-
OOO,OOs francs, Of which 5000, 900. 900
have been issued since 1850. Since 1903
the gold coinage of the British mint has
amounted to 365, 900, 900 pounds sterling,
of which l65, ,0O0,O0O pounds have been
issued since 1850. Since 1864 the gold
coinage of the Russian mint has amount
ed to 800, 100000 roubles, of which $780,
OOO, 900 roubles have been issued since
1850. The sovereign of England con-
tains one hundred and thirteen grains of
pure metal; the new doubloon Of Spain
and the half-eagle Of the United States
one hundred and sixteen grains each
the geld lion OF the Netherlands and the
double ounce of Sicily one hundred and
seventeen grains each; and the twenty
five franc piece of France one hundred
and twelve grains. Ithas recently been
proposed to adopt uniform system of
coinage throughout the world, so thai
the coins of one nation may circulate in
any other, without the expenses Of re-
coinage.