Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1885-12-05

1880 that the annual consumption OF gold
in the industrial arts among civilized
countries amounts to nearly SOC, 000, 900.
OF .h;s total sum the United States was
credited with less than SIS, 1000, 900. The
last report OF the Director OF the Mint
(tbatf for 1891 shows that the estimate for
the United States is too small, and accord
ing TO his inquiries, S14, 600, 600 would be
nearer the truth, for that year at all
events, if not for the preceding ones. The
sum of $50, 900, 900 may therefore be re-
garded as an underestimate rather than
as an exaggeration. II this be true, then
there was left of the gold production of
1884 the sum of S37, DOC. 900 to be convert
ed into a monetary instrument. A large
proportion of gold goes to India, and APP
parently finds q permanent abiding place
10 that country. Every year the exports
OF gold from Europe to Asia are largely In
excess of the imports. In 1884 the excess
| of this importation of gold into India over
| the expectation was valued at SIG, 600 900,
| and in 1883 at $23, 000, 900. Since 1870
| this movement has been growing stronger
| and stronger. From 1871 to 1880 this av-
| erage annual excess was less than So, 000,-
| sum thrice as large.
1u6 " ItuACo Va btNCk IVA thO bhhlO
| period now deserve consideration. As we
| have seen. the production Of this metal in
1884 is valued at S120. DOC, 900. As is we'll
| known, the increase in the silver product
| has been steadily advancing, and last year
saw no exception. While gold production
for 1884 was 2 PER cent less han that for
1888, that of silver was 2 per cent greater.
| It was also IL per cent in advance of that
! for 1881 and 25 per cent in excess of the
| average annual output in the decade 1871.
1880. 1t is unnecessary to go back of the
| year 1870 to see the enormous develop.
| ments in the mining of silver. Since the
| decade 1851-1660 the gain has been more
| than 800 per cent. The annual consump-
| tion Of this metal in the industrial arts is
| reckoned by DR.. Soetbeer at q value of
about $40, 900 900, or one sixth OF last
| years. product. OF gold, however, it will
| be remembered, about two-thirds are con-
| verted into purposes OF the arts. The
| flow OF silver toward India has not
| maintained the same uniform current
| which has been characteristic OF gold
since 1870. From 1871 to 1880
| the average annual net importation of sil-
yer into English India was valued at $780,
| 900, 900; in 1881 and 1882 it was consider
ably less; in 1883 il wss $35, DOC, 900, while
last year it was in the neiehborhood OF
| $50, 900, 900. From one-fourth TO one
third of the gold product, accompanied by
about one-fourth Of the white metal,
makes its way into the commercial prison
house of India. 1t would not be correct
to add to the amount used in the arts the
sums CARED into India in order to learn
what remains for European coinage. A
portion Of that which is consumed for in
dustrial purposes ia included under the
figures for India. From the last report Of
our Director of the Mint we learn that
only SGT, 500 was coined at the India minta
in 1883, which would indicate that no in.
| considerable fraction of the bullion sen
eastward was used for other purposes than
| that of money.