The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1895-09-13
THE STOCK OF GOLD.
It Is AbsOrb.d as Fast as Produced and
Does Not Furnish Any New Money fol


Does Not Furnish Any New Money for
Trade.
The United States consul-general at
Melbourne, Australia, reports that the
mint there received So, 9ii ounces of
gold during the first half of the cur
rent year. During the corresponding
period of 1894 the receipts were $40, 22S
ounces. These figures may be taken
as representing only about one-half of
the Australian output. The Financial
Chronicle. most excellent authority
on such matters, gives the following
figures on the production of gold:
(E timatet)
1884, 1894 1897.
Africa ......-......?,3Oo. 100 1.95l911 1.3sl.12s
Australia ......22'2OO.0)) 2.ODlsD I.7II,s9o
United States. .2190.o0) 1.9l)s13 17H-34
Other countries -. .3,2)1.OO 2.s9s,I1J 2.s9.73i
Total ounces. 9sD).ooo s..sLOl4 76ss,o77
The pro bable increase is thus put at
about 12 per cent, and the value eX-
pressed in our money is little over
$780, 900, 900 The African gold field of
to-day is part of the British empire.
1t follows that the total British output
of the year is estimated at 4,50O. 600
ounces, or little over S93, 100000 The
British output will be more than half
the total output of last year.
But this does not tell the whole story
of British gold fields Under the head
of "Other Countries are included some
of the British gold mines. India is
now somewhat prominent in the pro-
duction of gold. The Chronicle pub
fishes the returns of four large mines
in British India, including two or three
small ones in their immediate vicinity,
for the first half of 1895. They show
down as substantially correct that full
ly one half of the gold being minted
is British; less than one-quarter of it
is American. Where the United States
produces 81 of the yellow metal the
British empires produces more than So.
Nor is this all. No inconsiderable part
of the gold mine properties in the
United States are owned by English
capitalists
1t may be said that $500, 900, 900 added
to the gold of the world a year ought
to supply the legitimate demand for
increase in the full legal-tender money
of commerce; but it must be remem
bered that great deal is required in
the arts, and that boarding is still
more important factor. The arts are
supposed to absorb about $50, 900, 900 a
year. But boarding is the greater and
more remarkable factor. Some idea
of what is going on in these two re-
spects can be formed from the figures
given by Sauerbeck in papers pub
lished in that great British authority
on statistics, the journal of the Royal
Statistical Society, June, 1898, and
March, 1895. No one will accuse that
society of being hostile to the single
gold standard. Mr.. Sauerbeck uses
the pound sterling as his unit of
measurement, and, adopting his fig
ures, we have as the total product of
these seven years Gl66, 900, O00. He ex-
plains its use thus: Eighty-four mil
lion pounds were used in the arts
$4,000, 900 were sent to South America
and the far east, 940, 900. 900 went into
Russia's war chest, and Austria bought
go, 900, 900, thus leaving only Els. OOO,-
600 for all the rest of the world during
these seven years.
During the two succeeding years
Russia increased her gold reserve s19,-
200, OOO Austria hers $40. 600, 600, and
| the Bank of France absorbed sl4, 5OO,-
an end. ana is an intellectually impor-
tant factor in explaining what be-
comes of the gold as mined from year
to year.-Chicago Inter Ocean.
1T HAS BEEN HEARD.
Fhe Demand for the Destruction OF the
Greenbacks Has Already Gone Forth.
Already the people are being felt of
fn for
the green back, a detailed prediction of
which we gave last week. The New
York Times, the gold bug mouth piece
or the western world, said few days
ago:
1T is still the plain duty of all
reasonable men to recognize that even
,he limited consequences of. the late
Exports (of gold would be impossible
f the currency were in sound condi-
ion: that the beneficent influence of
.he syndicate loan has not permanent
ychanged the situation of the treasury,
ind that not merely the steady pros
oerity, but the safety of the country
rom needless disturbance can only be
assured by real correction of the
proved defects and evils of our cur
:ency system"
This is the method of the fundhold-
holders and credit furnishers. The
people must be made to believe that
here is something wrong with the
treasury. By and by they will demand
10 know what the wrong is, and then
they will be told it is the greenb back.
and that the greenback must be de-
stroyed before we can have prosper
ty." Listen for it. You will hear it
before the Christmas chimes are rung
| Mount Vernon Qn) Progressive
| Farmer.
A SAMPLE.