Mohave County miner., 1896-05-16

III hustfeua UT COutn hirtCes Oteu " Colorado, we are not to conclude that the whole world is to be flooded with gold. The greatest part of the gold taken out is wanted on the spot for use in and about the mines. The new countries that are being opened up---thoee in which the mines are situated--call for the greater part of the gold produced. This being the case, when we hear of 60 many thou sands of ounces of gold having been dug up in Australia or South Africa, ws are not to conclude that the amount named has been permanently added to the European stock. though that appears to be the popular notion.
 The facts are that new fields for coined money are created by the very mining en,erpnses which increase the supply of precious metals. Many persons reading the reports of the gold production of South Africa and Australia, in connec. ton with our own production ana that of Russia, jump to the conclusion that the whole is at once passing into trade chan. nels of the old nations. and that with SO large yield of the yellow metal there is DO need of the white, and that even when 1t is thrown out there will be too much money. But all ihe gold mined is not being added to the stock in the old countries. South Africa Is taking back in coined money two thirds of the bullion sent to England, and the same is trus oi West Anstrslis. In ihe first eleven months of 1895 EngIand rsce,vsd rom South African mines 7,420,000f in gold bullion, and sent back in coined gold for nse in that country 5,270, ,000E. Great sums are being expsndsi in West Ans. tralia in railroad building and in works of various kinds for incre e4sing the water supply Of that arid land.
 Thus it is seen that the mines of South Africa and Australia are not adding to the available stock of gold in the gen eral markets of the world more than one third of the mount of their output. It is much the same in other regions where the precious metals are being mined on large scale fro n quartz veins. The de- velopment of the mines calls for the de. velopment ot sll other resources of the region, and soon there is . large populs. tion, towns, railroads and all manners ol improvement. The working of the mines starts up score of other more or less 'osely connected industries, sil of which call for the use of money. Not only ars
 mines being worked, but vast wild re. gious arc being reclaimed, developed and permanently occupied.
 In the present depressed condition o
 the productive industries, and the lov
 price of all ordinary comm ,dities, thu industry of gold mining is soou. the only one in which capital can be invested
 with any hope of profit. Thus, instead of being used in the trade of the old
 countries, a large part of the gold nou brought from the mines is presently re
 turned to be invested in the new feldi that are being opened for the use Q
 money. The world is now larger than |
 was in the days of the plscers of Cali
 iornia and Australia, and it hardly feeil the additions that ar, now being made
 to the stock of money by the various golt
 mining regions. A proof of this, al
 stated above, IS the low price of all thu
 comm odities. Then we must take int
 consideration the fact that billions 1t
 gold mr.t be mined and put in circula ton in order to make good the deficiency created in the worlds stock of req
 money when one-hslf of 1t was throwI
 away by the characterization of silver. There is no danger of glut of gold The gold mining regions are themselve [ absorbing tbe greater part of their pro , duct, and in the present condition of tn ) productive industries of the world, none. can be used to better advantage In gol' mining countries than anywhere else. s We see some wild estimates made c the probable yield of the Rand gol' mines estimates that remind one of th equally wild figures put forth in regsr' } to the promised yield of the Comstocl . in the days of the bonanza. Thus 1t hs ! been calculated by Hatch & Chslmera 3 South African mining engineers. that , mining at witatersrsndt can be carries : down to depth of 5,0O0 feet, not les
 than 7OO, ,OOO, ,0ooE in gold will be pro l duced. This is mere guesswork. At th same time It is figured that to mine ths