Butler citizen. [volume] (Butler, Pa.) 1877-1922, 1894-11-22
A NEW GOLD ERA.
1t Has Been Opened by Modern
Mining Methods.
Renewed Activity In the Gold Fields of
California-It Lacks the Excitement
of Early Times, Rut Has
More Solid Basis

California-It Lacks the Excitement
of Early Times, Rut Has a
More Solid Basis
The golden lining to the silver clouds
that hung over this country year ago
isjust becoming apparent. When this
government ceased its purchases of
silver, and the mints of India were
closed to the white metal, the financial
outlook was dark indeed. But out of
evil good often comes, and, whatever
other effect these measures may have
had, they have resulted benefcially in
causing a greatly increased activity in
gold mining. Never before in the his
tory of this state, says the San Fran
cisco Argonaut, have the prospects been
SO fiattering. The spectacular effect
that accompanied earlier mining ex-
elements is wanting, but there is in
Its place an ele1ent of greater stability
and permanence. The romantic era,
Tshen the population, red-shirted and
ron&ly clad. wandered among the
ouIcbesand foothills of the Sierras,
with Mol npan, searching for the
precious ~! among the gravel of
Z, pieoious partIclesV .sed into history
u, ,ne river beds, his tie era when
The more inten,elr 6as gt;an eoursed
lh tSrouEsr odFEEer ,ne g to.en every iuctua-
ton in the prices of'stoclls was watched
pauper, by the clerk in the counting
house and the serving maid in the
kitchen or nursery, when fortunes
were made and lost in n day, and when
everybody was rich whether his wealth
vas evidenced by comfortable bank ac-
count or by scrap of worthless paper
this second and more unwholesome
era has also passed, to return no more.
The mining of to-day, while it lacks
the element of wild exciteme mt, is on
a more solid basis and has a far more
substantial prosperity. Mining meth
ods are more scientific than they were,
wasteful and extravagant processes
have been laid aside, new and i'm
proved machinery has been brought
into use, and private companies, oper-
ating quietly and soberly, are reaping
a harvest undreamed of even in the
days when the delirium of speculation
was among us. The placer mines have
been diligently worked over. There
are still golden grains and nuggets in
the river beds, but not in sufficient
quantities generally to pay corpora
tions for working them, although in
dividual miners can still make grub. I"
But the placer mines at best held
only the overflow of the richer original
deposits The wealth in the hillsides
poured over and the surplus was car
ried with the rain into the rivers.
From north to south, throughout the
whole stretch of the Sierra range, are
lodges laden with their golden treas
ure as yet untouched. Quartz mining
is still in its infancy despite the vast
stores of wealth that have already
been wrested from the earth; drift
mining will yet add untold millions to
the wealth of this state. The output
of gold this year will far exceed any
thing of recent years.
Not in this state alone, but through
out the world this same renewed ac-
tivity is seen. Colorado, prostrated
last year by the repeal of the Sherman
law, stands to-day as one of the wealth
producing states of the world. This
year California win be closely pushed
for fl rst position among the gold-bear-
ing states of the union. Two years
ago the gold pro duct of Colorado was
less than 5000, ,0O0-S4, 743, ,O00--while
California produced more than twice
that amount. The next year Colorado
increased its output siXty-fve per
cent, while the increase in California
was only eight per cent. This year the
difference between the two will be
still further decreased. In Montana
twice as many properties are being
worked this year as last; in Australia
there is unusual activity, and the out
put of South Africa, which few years
ago contributed practically nothing TO
the worlds supply, is estimated for
this year ut s4s, 100000.
When California, Australia and Rus
sin first began, in the early fifties, their
immense output of gold, prices were
seriously affected. Prior to 1850 the
annual product had never exceeded
s3s, 200, 900, or slightly more than will
be produced in the two states of Cali.
fornia and Colorado this year. During
the next five years the annual average
was Sl37,0O0.0 900, the highest point
reached being in 1853, when the output
was Sl55, 100000. After that date there
was a decline in production. In 1879,
twenty years later, the output was $780,
POO, 900; in 1888 it was S9i, 900, 900. Last
year, however, the effect of the in
creased demand for gold was felt, and
the output reached and passed the fig
ures of 1853. The most careful esti-
mates place this years production at
S17O, 100000. For the four years since
1890 the annual average exceeds that
OF 1850'55 by Sl2, 900, 900.
What is to be the effect of these inn
mense additions to the worlds supply
of gold? The increased production OF
1550-ls60 resulted In decline in the
purchasing power of gold, or, expressed
differently, prices generally rose. The
same result should be seen this time
were IL not for certain other factors
that are at work. The increased sup
ply Is In response to an increased de-
mand, and that demand will absorb
the surplus as it is produced. Again,
the worlds stock OF gold Is far greater
now than IL was forty years ago, and
additions that would materially affect
the mass then would not be felt now.
1t is therefore probable that, unless
continued for number Of years, the
increased production will not affect the
business of the world. The effect in
California will, however, be different.
The annual addition Of fifteen to
twenty millions to the wealth Of this
state is bound TO affect all business
beneficially. One years output would
be sufficient to build the proposed rail-
rond through the San Joaquin valley.
Tho cost of q new transcontincntal limo
would scarcely be fell II taken out of
several years output.
THOSE CHILDREN OF OURS.