Waterbury evening Democrat., 1894-06-04

4hl' L 1SSlOil llitp tLN NoettA PAoNoNo VI
gold from our mines since 1860 has been
much moro than twice that in 1S50-60.
Increase In Production.
The second fact of interest is that the
worlds product of gold has been slowly
increasing for over 90 years until by lib
eral estimate it amounted to $l3S, SOL 900
in 1898, and Mr.. Preston thinks it may
reach $3.50, 600, 900 within year or two.
In many countries the officials are so slow
that estimates only can be made for recent
years, and it is three years after the close
of their so called fiscal year before the de-
tails can be verified. In eXactneSs and
promptness Australasia-Australia and
its related islands-leads all other nations
and now produces almost exactly one
fourth of the gold of the world. The Unit
ed States comes next and has sometimes
eQualcd Australasia. Russia has stood
third for some time, having produced in
1892 according to Minister White, $24,
500 200 in gold. These three have pro-
duccd for many years considerably moro
than two thirds of the worlds gold, but
all the experts look to Africa to exceed
Russia for the current year and probably
all other countries in 1895. And now the
important question arises, How much of
this gold goes into money and how much
into the arts and ornaments? And here /
little mixed, perhaps because 1 am not
quick in figures. The latest are for tho
year 1892 and state that the government
offices furnished bars to manufacturers to
the value of $40, 9O0 1876, that private re
fncrics furnished $6, 263, Is and that this
makes the total. Another table, however,
gives various figures on the amount of old
gold coins melted down for manufacture
and says that in the year 1892 the total of
United States gold used in the arts and Or
namcnts was $40, 329 600. So, if this be
correct, 81 per cent of all our gold yield
goes into the arts and ornaments, and
there arc reasons for thinking that tho per
centagc is increasing.
Losses In Gold.
The amount of gold in the country Is
estimated on this plan: All that in tho
bank vaults and in the treasury in 1879
was added to the $50, 600, 600 supposed to
be circulating on the Pacific coast, and this
made the initial sum. To it has been add
ed the imports and coinage for each year,
and from it has been subtracted the exports
and the amount of old coin supposed to be
withdrawn for the arts and known to DO
brought in for rccoinagc. 1t is manifest
that in 23 years this table would become
very defective, for it takes no note of the
amount lost by fire, shipwrcck, abrasion
or otherwise. Who knows how much gold
went in the great fires at Chicago, Boston,
Portland, etc, or in the numerous vessels
which have sunk or how much has been
lost by individuals or hidden? 1 think it
extremely doubtful if there are $780, 00O,
600 in gold in the United States today.
Nor docs the tabulatcd coinage of the world
give us any true guide, for no distinction
is made between the old gold rccoincd and
the product of the current year. Mr. Pres
Il
for 1889 ut $l69, 000 0G0, for 1890 Mt $l49,
O00 600 and for 1891 at $l19, 900, OOO but
adds that these figures arc of little value,
because every country not only rccoins its
old coins, but even the new coins Of other
countries imported into 1t. After figuring
on six seven tables my own guess Is
that something like onc-half OF the years
product is added to the world coinage,
and that would ic this year almost exactly
Il. cents per capita or about cents for
each person in the civilized and CONNER
cal world.
The Conclusion.
The great question remains allowing
for loss abrasion, the arts and ornaments,
how much of the world annual gold yield
is added to its money supply? The answer
is casy-nobody knows. Neither is it pos
siblc for anybody to determine it with any
approach to cXactnCSS. Some of the gold
bugs tigur" it rs high rs $50, 600, 600 per
year, and some of the silver bugs figure 1t
down to nothing or u minus quantity. l
do not presume that my opinion is of con
sequence, but such as it is | give it. Two
points are to my mind clearly proved:
First, that the annual addition to the
worlds gold money bears no satisfactory
relation to the increase of business and,
second, that unless there is very great
increase i'll the world ; gold yield, and that
right speedily the gold basis cannot be
maintained three years longer In this
country. 1t is n simple mathematical i'm
possibility. j. b. PARKE.
rooms, and the boys filed in and took their
usual places without asking any questions.
We hnvo como back TO the ground floor to
stay. No cards arc necessary. If the front
door isn't open, give 1t kick and walk In.
The first door to tho right leads to tho edi-
torial rooms, and II the editor happens to
be out when you call you'll find Jug in
tho corner and pipes and tobacco on tho
shelf beside the clock. We think tho New
York editor meant WELL but he didn't
know human nature tn the great and Glo-
riOuS west
SOME PLAIN TALK.-The Lone Trio
Tribune, which is n poor little weekly
sheet of ESQ circulation and published by
a man who made y sad failure of the coop
ers' trade, came out with q bitter attack
on US last week. Tho burden Of the COM
plant was that we were an Office seeker, u
man killer, a bulldozcr nntfn boaster. Our
policy personally and editorinlly Is pretty
well known, but 1t may DO we'll to go ovor
the ground again. 1t is true that we arc an
Office seeker. We want to DO mayor OF this
town, state senator, postmaster, deputy
United States marshal and two or three
other things at once. We hold that moth
ing is too good for an editor He can't
make too much money. He can't have too
much public respect. We didn't go into
the newspaper business to live on one meal
day and go to bed while our only shirt
could be put through the mill. Neither
was it our intention to pull wires for every
galOot i'll the party and walk around with
our toes pccpiEg out TO the weather. We
have sought Office because it didn't seek
us. The man who expects Office to sock
him has q head full of sawdust. We have
not only sought Office, but got thcrc. We
arc still scoking We shall get there some
more. Nothing in the shape of good
thing will got past us.
AS to our being u man killer, we have |
disposed OF 10 men. Wo had to DO 1t or be |
disposed Of ourself. In each and every case |
we havo paid oil tho funeral expenses and |
given thom resting place far beyond |
what could DC expected 1t Is tho duty of |
an editor out in this country to take care |
of himself If no can't shoot, thon no has |
no business hero No matter how hard no !
may strive to satisfy tho public, there will |
be men who will thirst for his gore Tho |
idea as wo undecstand 1t, is to get the |
other critters goro first
AS to our bulldozing tactics, this is the
first complaint we over heard. Every edi-
tor has his own peculiar way In certain
matters Some editors in case subscrib-
er drops off heave o sigh and run pen
across his name Our way Is to mako u
v,eHrSDnol coll onA och for ov, ovDloratiOn |