The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1894-06-28
COLD and SILVER
Interesting Article from a
New York Paper.
THE PRODUCTOF THE ENTIRE WORLD
Probability of the Worlds Output
of Gold in 1894 Equalins the En-
tire Product Of Both Metals
During the Years from 1861
to lS65-Used in the Arts.

The report prepared by Mr.. R. E. Pres
ton, director Of the United States Mint
makes some important changes in the
estimates and statistics given in previous
reports. In part III Of this report de
tailed account of the output of gold anc
silver Of the principal foreign precious
metal producing countries of the world
in 1892 and 1898 will be found. It hat
been necessary, for reasons stated, tc
modify materially the figures of the golc
or silver output Of certain countries ir
1892, as estimated in the report on the
production of gold and silver in that
year. The principal changes in the es
innate of the yield OF the precious metals
IN foreign countries, in 1892, are these
In the estimate of the gold product OF
Africa, the output Of the West Coast
Isl, l,O1l ,924,) calculated from the gold OK.
ports of that region to Great Britain, has
been added to that of the South African
Republic ($23,220, ,108), giving total
African product Of gold in 1882 Of ($24,-
232,032, representing 36,461 kilos. fine
against 44.096 kilos. fine, of the value OF
$29,305,755 in 1898; China, which was
dropped by the former director of the
mint (Mr. 0. E. Leech) from the list OF
gold-produclng countries in 1892, has
been restored to it in the present report,
it's gold output in that year being esti-
mated as equal to the sum of the ex-
ports Of gold bullion from that empire
to India and Great Britain. 1858 kilos.,
Of the value Of $8,426,O39. Germany
which had also been dropped from the list
OF gold producing countries in 1892, is
likewise restored to it, haylng had accor-
ding to official returns, gold output
from it's own mines in that year of 3, 1922
kilos., of the value of $2,087, ,642; the
| figures of the silver product in Germany
in 1892 have, in accordance with official
returns, been raised from 184,818 kilos.,
Of the coming value Of $7 ,681, 600, to 212,-
116 kilos, of the coming value of $685.
600. The estimate Of the silver product
of Mexico, in 1892, has been lowered
from l,4l9,534 kilos fine of the coming
value Of $59,000,00U, to 1.228, ,994 kilos., Of
the coming value of $51 ,O77,0 900, officially
reported to the Bureau by the Mexican
authorities. These are the principal
notifications made in the present report
of this Bureaus estimate of the worlds
production of gold and silver IN 1892.
According to the corrected figures, the
production Of the precious metals in the
world in 1892, was: Gold 220,133 kilos,
Of the value of $l46,297 800, and silver
4,745,69 kilos., of the commercial value
Of $l33.477 300 and the coinage value Of
$lyl,23O,50O; showing an increase over
1881 on gold output Of 23,547 kilos., or
tion o&f
647 600, and an increase in the silver out
put of 487, 1888, kilos., or 1861, 100 fine
ounces, Of the commercial value OF $l3,
721,0 900 and the coming value Of $2O,274,-
600.
The worlds production of gold in 1898
was 234,0O6 kilos., or 7,52336S oz. fine, Of
the value of $155,52l, ZOO, against 22O.l3
kilos., or 7,O77,146 OF. fine, Of the value Of
$146, ,297 900, in 1892; an increase in weight
Of 1888 kilos. or 446,216 fine ounces. Of
the value of 1924, 100, IN 1898.
The worlds output of silver in 1898
was approximately 5,OO2,293 kilos., or
l60,794, 100 fine OF. of the commercial
value Of $125,419,4OO and the coining
value of $2O7, 1896 400, as compared with q
silver production of 1892 of 4,745,679
kilos., or 152,545,50O OF. fine, Of the com
merclal value of $133,477,3OO and the
coming value of $197, ,23O, 500; an increase
in 1898 of 256,6l5 kllos., or 8,248,6OO OF.
fine, of the commercial value Of S6.433.-
900 and the coming value Of $1O,66l,9O0.
Russia is the only gold-producing
country OF any Importance from which
no returns have been received for 1898,
The United States, in 1893, shared to
the extent of 23.l1 per cent. in the total
gold production of the world, The
worlds output Of gold in 1893 was the
largest in history, amounting, az it did.
to 234, 4,006 kilos., of the value, in round
numbers of $155,522,OOO. The highest
previous yield Of gold was in the period
l856-6O when the production reached
an average weight per annum, according
to DIR. Soetbeer, Of 201,7O5 kilos. fine,
and an average yearly value Of s 1890
600. The output of gold, therefore,
in 1893 was 16.O6 per cent. greater than
the annual average of the period OF the
greatest productiYeness of the California
and Australian gold mines.
a still more noticeable fact, and one
which will be a matter of surprise to the
world OF finance, as attention is for the |
first time called to it, is that the value of
the gold product of the world in 1893
was only SIT per cent. less than the
average aggregate value of the gold
and silver product of the world in 1861
IS at S170,473,383. The value of the
worlds production of gold in 1893 alone
was, in round numbers as remarked
above $l55 $4,000, or difference Of s14,-
951, 400. In other words, the value of the
yield OF the gold mines in 1893 was only
$l4 1851 400 less than the value of the
average yield of both the gold and the
silver mines of the world in 1876.
The average value of both the gold and
silver product of the world for the period |
of eight years, l866-l873, which just
preceded the beginning of the deprecia-
ton Of silver, was $l9O,831 900 differ
ence between the value of the average
total of the gold and silver production Of
these years and that of the gold product
Of 1893, alone, Of only 1886, 100000 If the
production OF gold in 1894 exceeds that
OF 1893 by 22.7 per cent. 1t will reach in |