The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-12-30

The Supply Practically InexhaustfbIe
Promises Prosperity.

Writer in San Francisco Chronicle.
In a recent issue of your journal / read
with much interest a letter from your cor
respondent in Johannesburg In the course
of an account of the mining and labor sit
uation there he gives strong testimony 10
the great richness of the Transvaal reefs.
From his statements and those of other
writers and travellers OF reliability it is ey-
ident that a new El Dorado is being devel-
oped IN South Africa The chief product
of gold is not from placers, as was that of
California and Australia in early days, but
1t comes from great bodies OF quart con-
gomerate, called reefs in the mining
phraseology. The principal reef varies from
ten to thirty feet in thickness, has been
proved by borings to reach depth of 1900
feet, and has been traced along the surface
for one hundred miles. Hamilton smith,
the distinguished mining engineer who spent
three months in a thorough examination OF
the Transvaal mines, estimates that the
main reef contains within less than thirty
miles OF it's extent about $1,1o00g.oO0, or
about as much gold as California has pro-
duced in it's whole history.
This is a conservative estimate or
fractional part of the main reef, When the
whole Transvaal is considered, with It's
numerous reefs, Its richness may be truly
said to be inexhaustible The output of this
mated at $l5,000OOO and. as in the ensuing
year the number of stamps in operation
will be almost doubled, the output will
probably exceed $5O.0O00O.
Mashonaand and the country from which
Lobengula and his Matabele warriors have
lately been driven eSGk by the troops T{,p, OF
proving very rich in the precious metal.
Some explorers predict it will surpass the
duction at this early stage Of development
IL is safe to assume that the worlds annual
yield of gold will soon be doubled by the
product of the African mines.
Now arises the question that L wish TO
draw particular attention to in this letter.
Is not this new and vast treasure of the
precious metal distant though it is, about
to play an important part in the world of
commerce? These millions of ounces of an
nual output are SO much added TO the
worlds great reservoir of gold. On this all
the commercial nations draw according TO
the demands of trade. Though mined by
British owners in South Africa, 1T is, in one
sense of the same benefit to our merchants
and our country as IL mined in the United
States.
The gold mined in California, as we well
know does not remain here, or at least
but small fraction OF 1t does. 1t finds its
way through the channels of trade to every
part of the world. Just as the blood in its
circulation brings new life ana strength
to every part of the body. so, will this
neWed activity in every center Of commerce
and industry. The wonderful impetus given
to business in both Europe and America
California and Australia are matters Of
history. The low prices of all commodities
then prevailing and the low scale OF wages
underwent q marked change. With the rise
in prices for the farmer and manufacturer
came q wave OF prosperity Such as the
world had never known before A great
prise, and the general welfare was vastly
improved.
A treasure greater than that of California
and Australia combined now awaits the
miner in South Africa 1t is evident that
the commercial conditions of forty years
ago, with gold in great abundance, and also
a large stock of silver, since demonetizei,
are to be expected. We may look, then,
for a corresponding revival in business and
a period of remarkable activity in trade.
In our State we may expect to see wheat.
barley and wool advance in price, and
better market for wines, fruits, raisins
and oranges. With this must come a
greater demand for our farming lands, rapid
growth and enhanced value TO real estate
in our cities.
The vexed question of silver may like
wise be settled from the same source. Early
in the fifties such was the abundance or
gold that silver commanded a premium.
Although such an advance can hardly be
expected at the present time, lis value
should increase very materially with the
increased production of gold.
Indeed, I may fairly claim that after the
business depression and financial disasters
in both hernispheres in the last few years
our country and the commercial world is,
thanks to South Africa, about TO enter on