The times. [volume] (Richmond, Va.) 1890-1903, 1895-10-30
GOLD SUPPLY INCREASING.
The Worlds Production NtH Larger
Than tTer Before.
DIRECTOR PRESTON GIVES FIGURES.
Tho United states Second among INC
Countrjes Producing the Metal
Conclusive Answer to the Free
silver Theory

~ ASHlNGlON, Oll' -
stock arguments OF the free-siiver aiVo-
Gates is that the supply OF gold Is MADE
oua;e To the worlds demand fer this ne
tai fcr use in the industrial arts anu as
money A special report on the worm
production Of gold ana silver y 1914
just completed by r. t. Preston director
Of .he Mint. supplemented. az IL Is ny
figures relating 10 the sold product TINS
wear furnishes Il complete reply 10 the
vaporirgs OF the frte-silver mn. 1t SHOWS
that th production Of gold thr1lShoul ln~
world has increased 10 wonderlhi &c
gree r. the last twO years, WIN d Pi'S-
poet OF a much greater Oltp-t IN 'He
Years TO come. Mr. Prestons report has
been comp.led from official figures fur-
nished him by foreign go'ei4 li..li's
through United states representatives.
abroad. and 10 Is remarkable Tor lts sco,r'
From the facts thus placed ~ ms US US
posai. and his recent investgai i'hs III ,ic
mining regions OF the west, MI tIcs'yn
is certain trat a fooi OF gold H. about to
be released i, tho West. which vil oe
the foundation OF che greatest prosperity
this country has ever known. The aggfe-
gate production this year Of American
gold VIII be In excess OF $iG.g9o.oa. an in
crease Of 100000 over last year. The
worlds product In 1894 or gold was ABOUT
sls00o0. 90 The amount this year VIII APP
proAimate t2o)oo0cO.
is e. rSIEY LEADS.
The United States has advanced this
year TO the second place I'm the list OF
eold-producng countries, South Airlca
leading IN tie output Of the yellow metal
Mr.. Preeton's observations while in Colo
RADIO convinced him that the world IS yet
10 Doe astonlshed by the amount OF gOld
annually produced by American HLi'''
lie attributes the wonderful revival III
the go.d-mining industry In CalIotIla'
Colorado. Montana Idaho. and other
western States and Territories 10 the
marvellous improvements in the facilities
FOR mining. When the silver purchase
clause Of the Sherman law was repealed
the silver miners in the West found their
occupation gone Some OF them sat down
and bemoaned their fate. Others turned
tneir attention 10 gold mining. II was
found by these enterprisng men that,
tn the improved machinery at their
command, they were able 10 work profta-
bly, mines which one were considered 10
be too poor IN ore TO warrant operating.
The Cripple Creek camp had IN the mean
time taken on wonderful activity. Gold
mining soon became the rage in Colo
RADIO. There is to-day no regret expressed
by the miners Of that State over the con-
Gitions surrounding their vocation.
CERTIFYING CHANG.
Mr.. Preston was especially gratihed 10
learn that the gold mines IN Colorado are
being worked by American capital. Only
a few years ago. many Of the Colorado
and other western mines wer operated
largely by foreign capital one by one
the foreigners sold their stock and drop
ped out through fear Of disaster. When
the reaction set In. American capital was
able 10 profit by IL. Foreigners who may
now desire 10 invest IN American mining
property will have 10 pay handsomely for
the privilege. The recent decline I'm South
African mining shares is likely 10 turn
the attention OF British moneyed men 70
the big profits now beng acquired I'm Col
orado and other mining centres. Senator
Teller and those who endorse his views
have long maintained that the world Will
always have use for all the gold that may
be produced. and that the supply cam
not possibly reach the point where the
demand for gold for monetary uses VIII
be satisfied. THIS argument ought 10 be
particularly gratifying TO the former
miners OF silver who are now producing
gold in profitable amounts. Close OBJ
servers like Mr.. Preston believe that the
present flow Of gold will continue for
years 10 come, and be wonderful bless
ing to the country.
AZ tNoENo us OUTPUT.
From facts now in my possession. "
said Mr.. Preston today. in discussing his
report, Il am satisfied that the gold pro-
duct OF the world will not be less than
500 o00,ooo for the calendar year ..y.
which will be an increase Of 500 900
over 1894. OF this increase the United
States viii contribute not less than
E,J0@0. Colorado VIII furnish from
10000 10 100000 California 5000,
Oco. and Arizona. New Mexico Idaho, and
Montana Will make handsome showings.
In Colorado the principal increase viii
come from the Cripple Greek District.
This district altogether. Will produce
100000 this year 1t required some
time 20 convince capitalists that this was
wonderfully rich district The ship.
ments OF rich ore made in the last year
nave removed all doubt about the future
OF the Cripple Greek country. Leadylle
also Will show an increase this year in
the output OF gold. Some OF the mines
IN this region are very productive. In
the Leadvliie region there are found gold.
silver, copper. lead. and iron There is a
senfal revival Of gold mining throughout
this region. California mines are certain
10 show an Increased output from this
tme forward. The establishment OF the
DEBTS Commission in California has
given great impulse TO hydraulic MIN
'hg' which IS exceedingly profitable.
fFrEcr OF Tnr DROUGHT.
where there is placer mining partlcu-
iarly in Montana and Idaho. the product
OF gold viii not be so great as IL would
nave been had there heen heavy SHOWS
IN the mountains. mere is a shortage
or water in those States. which serves
20 handicap the miners. The returns from
quartz mining there are very satlsfac-
Tory some heavy shipments OF orc arc
pelhE MADE from Helena. EVERYWHERE |
went IN INC mining regions Of the West.
saw evidences Of great activity and
prosperity.
Not alone IN the United States Is tho
output OF gold increasing South Africa
mas gone ahead of Australia in the
amount OF It's gold product, and Will pro
uute lnlS year q vast quantity of the
precious m tai Australia probably will
contribute 100000. or $3.W0GfN OF the in
crease. Russia also viii produce from
'S-''vevD 10 S3.N000J more than IL did last
year. Eussia's output last year fel! of
bu, the Increase IN Siberia this year VIII
De marked. Judging from the information
nave received from our Minister at st.
PETERSBURG Mexico, which contributed
Si'0.voo In gold last year, will make a
iar better showing this year
We gained last year FOR the gold stock