The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-04-18
SEATTLE. THURSDAY, APRIL Is
Fifty MILLIONS OF GOLD.

The world IL apparently about 10 see
again a production OF gold equal 10 that
which made California the center OF at
traction for several years. Reports made
by reliable English experts Of the South
African gold mines confirm the earlier
reports. which were received with won
der and inerednlity In 1894 the yield
from the Nitwatefsrand mine was sss.-
09o.OD0. and with the opening Of new mines
the product will increase from sso.po0. ot0
10 srgpa. GO year. The deposits are not
placer washings. and viii therefore cost
more than the gold OF California, but
this viii be compensated in part by the
extent and depth of the veins. The char
actar of TIE ore Is such that compare
lively inexpensive processes give pront-
able results.
The entire production Of gold In the
world for lss2 was Sisa. ST. 0o. so that an
Increase of nearly one-third more viii
make very appreciabIe difference in the
quantity. This will tend 10 decrease the
price OF gold. but not nearly so rapidly
as the demand OF Japan for 2oo oDo. coo
taeis of silver il likely To advance the
price of the white metal. The greatest
known production OF silver in the world
from itas to 1872 for any one year was
si96. Cos .e0o. There Is likely. therefore. TO
be a nearer approach 20 the price of the
metals by the Increased supply of one
with a normal demand and an increased
demand with a normal supply OF the
other.
The African gold fields have not hifh-
erto been Of sufficient consequence 10 be,
reckoned in the computation OF the
wo-ifs supplies. so that the new yield
must be added 90 the figures or the PAST
t'ntii the year 1870 the supply had never
been much above Sc. 90. n10 bat with the
discoveries at Baiiarat and Coloma the
supply suddenly sprang up 20 81. 5a5. GO
and from 1851 10 1850 Il was between sis2, .
ooaooo and slsi.co.oee per aHnum. Since
then IL has never hen below sl0a.01a coo.
and IN iNs went up 60 SiSi. go. II
therefore, only SIS, oao be added from
South Africa II viii reach si6s ooo. 90. or
saa.ooo.0no year more than the world has
ever seen.
The total amount OF one year would
cut very little figure IN the aggregate OF
gold. but that need not concern Us so
much as the raplaity with which the
gold can be circulated.
None hut a miser wants gold 10 hoard
The world az large wants Il only 10 pass
Through its fingers. Having Il, We want
tc exchange II for other commodities.
The interest 70 the American people Is
that the production OF something which
everybody wants win stimulate every
branch OF business. The discovery OF gold
IA Australia and California resulted IN
an lucfcaaa in the price Of everything. be
ginning with labor and running through
all the manifestations OF commerce. But
81 viii be remembered that Il was not for
three or feur years after the frs; hun
bred millions % gold ives added 20 the
worlds wealth that the advance was gen
orally feii.
Therefore. while we may reioics at any
step which makes sold cheaper and silver
dearer. the effect 81 the added resources
o. not likeiy 70 30 RAPIDLY brought about.
That is cfeet viii be feIt wherever there
arr products 70 offer "a exchange for II
cannot be doubted. and 81 IS all the bet
Ter that the Improvement shan be grad
uai Puget Sound IS net, however. In the
last circles OF the edaying movement
Oar lumber supplies should be among the
FIRST - be tapped and in shat field We
stand in no apprehension OF rivalry.