The Greenville times., 1895-11-13
coo PRospEors.
Fisaty ss aEztssisi ~ sssrd a5a=s Is
esSNk


ss1nt.
More ihas a ysaf ago the London
Statis; predicted that the increased out
put Of gold in the world would soon
cause a general advance u prices and
greatly -ti.iaiate trade and industry
in all commercial countries. At that
time sfr. Preston. the diFvetor Of our
mint. took like view = ne prospect.
though h- szs cautious and conserva-
tie in his expressions as became man
In his official position
This year Mr.. Preston expresses him
telf more freely. and. indeed, with con-
siderable cnthusiaslrs The inaih iarts
which he has 10 report and upon which
he bases his favorable predictions are
these. The production o. gold is rapidly
increasing. A few years ago i Was
only about sl30.000.0co a year FER the
whole world. Daring the last calendar
ves- il vas sls0.Oo0.OOO. or more than
in roy other year OF which we have any
record. This year the output he esti-
mates will reach 5000. 100000. This i->
crease is due in part TO the recent de-
relopment If rev helds. especially in
so"tA Africa, but quite as much, per-
haps, to the discovery OF processes by
which ores which were formerly value
less can now be reduced ct profit.
The new fields premise TO be prolifie
and the hew processes, OF course, hhve
come 10 stay. Hence the prospect of
continuously Increasing output for
years to come.
Mr.. Preston Is especially enthusiastic
over the prospect for this country. As
late as 1892 the product of our mines
was only s3a.00o,0o0, which was about
the same that II had averaged for ten
years. and in 1899 il was but little more
s35.O00O00. But last year II ROSE to
Sa9, 1000, 900, and this year he estimates II
at sl6,oCO,c00, AS TO the future Mr..
Preston says he believes "the gold pro
duclng capacity Of the United States Is
destined to astcnish The world" Speak
ing OF recent visit TO the mining re-
gions he said: II may be too enthusi-
nstic ON this subject, but made every
effort to get at the true condition Of
effairs there, and ON consiheed that
there will he snrh a food 81 American
gold within The next eight or ten years
that the price of the metal will depre-
clate instead Of appreciating.'
Mr.. Preston means, of course. that
the value Of the metal will fall instead
of rising. Its price, being stated in
terms of gold, will necessarily REMAIN
the s20.6f plus of our gold eoih
per ounce of gold i,0ob fhe. But the
'alue will undoubtedly fall, which Is
the Same as saying that the average OF
commodity prices will rise II the pres
ent annual output is maintained for
considerable time. and still more II that
output goes on increasing as Il has done
for the last few years.
AT this rate of increase we will have
an annual product of sa00;oOo,0oo " siA
years. The aggfeghte Product for fif-
teen YEARS .fom the beginning of the re.
cent increase may exceed $3,5O0,O0 900,
or considerably over one-half more than
the aggregate output for fifteen years
after the mines OF California and Aus.
tralia began to be lnrgely productive.
With so large an addition 70 the worlds
stock commodity pfieet must rise and
bocms mhst flourish. According to
present indications, the world will not
go 10 ruin very soon for luck OF sufil-
cient supply Of gold to serve as the
standard of vnlue.--Chicngo Chronicle,