The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1894-06-30

The results reached above will be
made clearer from the following tabu-
lar view:
Average value of the worlds
output of gold, 1856-60. .$133, ,970, ,O0O
Average value of the worlds
output of gold and silver,
Average @ e value Of the worlds '''
output of gold and silver,
Value OF Of the worlds output
of gold alone, 1898. =. ........... 155, ,522, 900
Estimated minimum value of
the worlds output of gold 100000 o,o
alone, 1894 4..................... 160, $4,000
Estimated minimum value of
the worlds output of gold
Estimated value of the worlds
output of gold alone, 1896,
How does this value of the amount
of gold available for coinage purposes,
in 1898, compare with that of both
gold and silver available for the same
purpose in the years 1866-18732 1t
will be seen from careful calculation
that there is at present little difference
between them. The average total out
put of gold in the world in these years
was 1877, 1O5 kilo. The net average
amount of gold consumed in the arts
in 1871-1873. according to DIR. Soet-
beer, was "a, 900 kilos. The average
de6nitive export of gold to India,
1866-1873, was 80, 478 kilos., or $780,
$780, Thus the total gold devoted
to other purposes than coinage in
1918 was la, ,478 kilos., leaving
72,627 kilos., of the value of S48, 267,-
9O4 gold, to be employed in the coin
age of civilized countries. The aver
age total output of silver in the world
in 1866-1873 was 1,575, 1852 kilos.
The net average amount of silver con-
sumed in the arts, 1871-1873, was,
according to Doctor Soetbeer, ILL.,
900 kilos., or in round numbers, 47O,-
900 kilos. The average net export
of silver to India, 1866-1873, was
800, ,647 kilos., of the value of $685.
648, ,925. The total silver, therefore,
employed otherwise than in the coin
age of civilized states, was 1,279, ,647
kilos. leaving for the latter purpose
an average of 295, ,8l5 kilos., of silver,
of the vale of $12, ,294,O71. Adding
this amount to that of the gold avail
able for new coinage in 1866-1873
gives an average total value of the two
metals that might have gone to add
to the monetary circulation of civil
lied countries in the years just pre-
vious to the depreciation of the white
metal, of $50, 561, ,975, as compared
with $67, ,522, 900, the value in 1898
of gold alone, showing available for
coinage purposes in the latter year an
increase of $7, 100000. The produc-
ton of gold in the near future will in
crease this difference in favor of 1894
and the the following years, thus CIV
ing larger amount of gold for the
coinage purpose of civilized nations
Except Russia) to keep pace, to some
extent at least, with the growth of
population.
There is another point to which at
tention must be called here. 1t is this:
gold at present exported to Russia is,
to very great extent, like the gold
exported in years past to India. 1t
is largely defnitive expectation, and
is boarded, not SO much by individuals
as by the Imperial Government and
the Bank of the State. Russia with
draws from circulation not only the
products its own gold mines, but the
foreign coin and bars which it imports.
The net import of gold bars and coin
into Russia in 1891 and 1892 amount
ed to $55, ,3O1, ,O98 and $89, ,3O1 ,O98
in those years respectively. AS the
so-called balance of trade is favorable
to Russia, and has been for number
of years, this excess of imports of gold
bullion and foreign gold coin into
Russia, like the gold output of it's own
mines, serves no monetary purpose,
and to the extent of the excess of the
imports of foreign gold, at least, i'm
poverishes the gold monetary circula-
ton of some other country. a'''.