The times. [volume] (Richmond, Va.) 1890-1903, 1895-10-30

D., .......... o. l.i1J
Central American States ..-..... Steg5
China ........ ...---s.s...... 's..-.'- i'V'o'oD'
Japan .---. ...... ..........'...'''' 49,
Africa .......-...... .........'....'t' Hioz''o'J
India British ....,.......... ..'.. HOO"
Total .... ............... gs.SS.Clo
DrcR~ssF OF sILyEc.
The decrease in the output Of silver IN
this country in 1891 from 1893 amounted
to s13575.70). IN the preceding report OF
this series Mr.. Preston announced that
the United States In 1898 shared 10 the
extent Of 23.1l per cent I'm the total
gold production Of the world. The
worlds output Of gold in 1893 was the
largest I'm history, amounting as II did
TO Z3i. COs Kilograms, Of the value in round
numbers Of Sl55 ,522. 900. The output OF
gold in 1893 was 1905 per cent greater
than the annual average OF the period
Of the greatest productiyeness, or the
Californian and Australian gold mines.
IN view OF the fact that this year the
product Of gold is nearly 5000 in excess
OF that of 1888, the necessity OF the re-
vision. by the free-silver men OF their ut
terances about the visible supply or
gold will readily be seen. notable
fact is that the value of the gold product
cent. less than the average aggregate
value OF the gold and silver product of
the world in ls6l-65. The following state
ment was made by Mr.. Preston in 1893:
II the production OF the gold In 1884 ex-
ceeds that of 1893 by 22.7 - per cent, 1t
will reach la value the worlds produc-
Ton Of both metals $780, 900 twenty
years ago. This Is a most mcmentous
fact. and one which must have much IN
nuence on the monetary policy Of all
civilized states in the future.
The great PROBABILITY is that the value
of the worlds output of gold in 1894 will
equal that Of both metals in the years
ls6i-5. and in 1895 or 1885, that or the
years Immediately preceding the begin
ming OF the depreciation Of silver. l. e.,
the average Of 1868. inclusive. Ii may
be predicted with certainty that it will be
greater IN 1871 than such average.
MR. pRfsroN's COMMENT
Mr.. Preston may Re pardoned for in
duiging in the following remarks in his
latest report, In view OF the remarkable
foresight displayed by him In the predic
ton already quoted:
Predictions as TO the future production
of the precious metals are always hazard
Gus, but, so far as any predictions capa-
Die of fulhllment In 1891 are contained In
the extract from the report on the pro-
duction of the precious metals in 1873,
they have been verified by the history OF
the production OF gold In 1894. The value
OF the worlds output of gold in the lat
ter year not only equaled the annual aver
age OF both gold and silver in the period
lsol-5, but exceeded It by 81, 2O4.oo0. while
the worlds yield OF gold alone In 1894
was greater than that OF the average OF
the years lSJ5-G0 in which the productive
ness OF the Australian and Californian
gold fields was at its highest by 49, ,Jp0.
or more than 81 per cent. The great prob
ability that the value Of the worlds out
put Of gold In 1895 would equal that OF
both metals in the years Immediately pre-
ceding the beginning OF the depreciation
OF silver has been changed INTO a certain
ty by the events Of 1891. Since the average
ann al yield Of gold and silver Of ali coun-
tries in 1868 exceeds that Of gold alone
In 1891 by less than Nleo,0co.
While, however, IN 1895 the United states
ranked first as a gold producing country,
il 1894 it ranks probably only third. It's
OUTPUT Of $50 ,J0O,c 90 having been exceeded
IN the latter year by that OF Australia o.
76I,S00), and that Of Africa Si0,Z7l, 0O0)
But. while the production Of gold by the
United States in 1894 was relatively less
than in 1893. it shows an absolute increase
OF S3.5i5.000 in 1884, ,ver the product OF
1885.
STEADY INchFAsg SINCE 1857.
There has. with the exception OF the
year 1880, been steady Increase IN the
worlds annual production of gold since
1884, when the Weld of the Witwaters-
randi mines began to figure 10 any note
worthy extent IN the total yield Of the
metal. so that there is the best Of reasons
for claiming hat he discovery OF the
conglomerate beds or that region inarAs
the beginning Of as weil-deflned ana I'M
,ortart period in the history OF the
rrodrction of gold as does the discovery
~ the gold deposits OF California and
Australia. IL is an error. however, TO as
sumo that the recent increase OF the
worlds output of gold IS due exclusively
to tho South African mines.
The average annual gold product OF tne
world in the fourteca years 1885, lnclu-
sive, was SloS, 1920. ,
The question whether the production OF
eold already described viii continue 10
maintain the level /. has now reached ior
any length Of time. or even rise hlSle.'
was discussed by the German SILVER Ioui-
mission In 1894, and Mr.. Preston gives
space Ia his report 10 expressions Oh the
experts who appeared before that commls-
sion Some OF the remarks sound strange
~ now. I'm the face OF the revelations con-
corning the gold revival in the western
mining states.
That the country IS certain to become
more and more prosperous as the amount
OF gold increases Is the one fact when
Will appeal 10 the people. To quote MI.
Preston: This healthy increase In the
product OF American gold mines viii as
sist materially In the prosperity that IS
returning 10 us. II we can ind a basis
for our financial transactions, and let the
country know just what our policy is 20
be. we shall be all r.ght."-New York
Times.
Mrs.. start Ia speak
Mrs. j. L. Stuart. Of Hang Chow. China,
who Is on a visit 10 Richmond will adj