The Big Stone Gap post. [volume] (Big Stone Gap, Wise County, Va.) 1892-1928, 1892-12-29
Sew Gold and Silver Mines.

Ifitwere not for the remarkable pro-
duction Of silver from the new mines in
the western part Of this continent the
coinage problem would solve itself. The
yearly production is increasing. The an
nual supply is abont $4,000, 900, of which
the United States furnishes $34 600, 900.
There has been n remarkable development
of the auriirrous mines in South Africa,
the product from that part of the world
having reached the sum of $25 100000 Il
year. The supply from Australia is in
crcasin.. New Guinea is producing 81, 0O0,-
600 year. There is q report that i'm
mense new gold mines have hccn opened
in Arizona. The possibilities of great gol3
discoveries to this country should be con-
sidered when alarm is created by MI un-
usually large gold shipment to Europe.
Notwithstanding ali the work of pros
pecio.s The Cordilleras are still practically
unexplorcd. tits possible that ilc golden
wea;i, al that mountain range has been
only tonchcd. In the hillSidcs that have
been passed lv hundreds ct experts and
adventures. under the frost and snow OF
winter. Or under the ycrdure and blossomry
Of summer. there may I've concealed the
vel ow @listcn Of gold deposits inestimable
Il. la
supply Of this country should he tending
toward It period of exhaustion The inner
heat has melted The 0:e from the bascr
metals. arc vet golden bomanZas. Some
day. po,sinN not far distant, will see them
opened by science and labor. In many
other parts Of the world new gold dis
covcrics arc extremely probable. The
Mountains of the Moon, in Central Africa,
where arc the sources Of the rivers that
bore the aurileruuS sands to the Gold
Coast, must contain in their thin lodges
of rock more gold than ever has been
sittcd ont hv the attrition Oft the waters or
exposed by the crumblng processes of
atmospheric exposure. Natures wealth
has no, begun to disappear. Natures
vast treasury Of sunless wealth will not
be emptcd so long rs its contents shall
be needed for human uses. For wears
after The discovery of gold in California
and Australia silver was at premium
over the proportiOnate coinage value O.:
gold When silver was ,!cmonetiZed in
1872 this difference in value was decidedly
prcccptblc Gold was made the sole
standard then because it was the cheaper
metal, aS the silver men now want to
establish. substantially, silver as the sole
money standard. The recent enormous
increase in the output of silver is creating
the difficulty The new riches of some OF
the silver deposits have caused owners to
look witt dissatisfaction on mines which,
thirty wears ago, would have boon regard
ed as the sources of boundlcss wealth.
From the new rich ores ti,e silver can be
extracted 50 easily That the cost of pro-
duction has vastly decreased. The lean
ores are no longer profitable, and thou
sands OF mines have been abanc oned. If
it were not for The extraordinary prolific
harvest Of silver the increased production
of gold soon would restore the equilibrium
in value between the two precious metals.
There is 50 much more silver produced
than is covered by the demand that those
holding the surplus are almost lis badly
ofl--or think they arc-as if they had
nonc.--Chicaso UrydId.