The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-08-28
A HIGH TIDE OF GOLD.
he Times-Herald.

From the Times Herald.
A few years ago advocates of the I'M
limited coinage of silver We're saying thai
there was not enough gold in the Worlc
to do it's business. In fact there is al
ways enough gold in the world to do Its
business if the natural and beneticenl
laws of production and commerce were
permitted to have their peaceful way.
Speaking in the house three years ago
Mr.. Bryan said: 1T is estimated that
nearly two-thirds of the annual product
is used in the arts, and the amount Sc
used is increasing. Where, then. is the
supply to meet the increasing demands
of an increasing population? Is there
some new California, or some undiscov-
cred Australia yet to be explored? Is II
not proba BILE that the supply available
for coinage will diminish rather than
increase?" Passing over Mr. Bryan's
overestimate of the absorption of gold in
the arts, it is evident that we do not
need a new California, nor any undis-
covered country to keep the supply OF
gold fully up to any increased demand.
For the first decade after the discovery
of gold in California and Australia the
average annual production of the world
was Sfi1 200 600. The ten years after
1860 it fell to an average of slS2. 900, O0o
and ten years later the average had fallen
to Sl2O 100000. BEGINNING with 1885 came
the turn. For four years prior to 1880
inclusive the average annual product was
slo6, 900 In 1891 the product rose to
s125, ,125 0G0. In 1892 it was Sl40 $4,000. In
1893 it had risen to $153, 2il 900. In 1894 the
product reached S176, 100000 In 1895 it
reached 5000, 0G000O, and the present year il
will be fully S22l 900 00O--it is estimated
even as high as $3.50 100000. The product
re +hn TY,gfn fn1 .nta i, 90 ti,,,,. .n1 a.
OOO 900 or more, that of South Africa S50
OGO. 600. of Australia, SiS,0 900, and Russia
s33 000,0 900.
The American gold product during the
corresponding period has been tabulated
as follows:
1885 ........ 500 $751; i2i1S91 .ss1. .GS5 1l7
1857 ..... 80, 500 0e7 1892 .......... % Si7.A "A
1888 ......... 29,9S1 702 1898 ...... SS9 9'S, ,72S
1889 ..... So, s61 1894 ......... As, G23 29i
1890 ......... 81. .795, ,3G1 1895 .... 4S 399 729
There are American mines which it IS
confidently declared will more than doll
bic last years high production. Improved
machinery, skilled labor and quick trans
nortation are doing their inevitable work
in the bringing forth of the most precious
of metals. Last year in one Colorado field
the total production was 50 1897 The
first six months of this year it reached
s7.256, 900. The estimated production for
the year will he SIS, O9O. 900. Since Mr.. Bry-
an uttered his fear that there would be a
decline in the worlds production of gold
it has been increased so that. before the
calendar year is out there will be added
to the gold stock Of the world an amount
approyimatinG sos, 900 CDO or more than
the entire gold stock of the United States
Tn addition to the increase from the
mines. the United States are about to
enjoy turn in the international flow OF
gold. Our exports for this year will oX-
ceed by % per cent. those of last year.
The value of the eyoorts for 1882 was
sl.O15 732. oil. For 1899 the total fell 10
sS3l .O?p,7S5. For 1894 the value was $780,
2oia37 For 1895 the total value declined
to s793, 800 500. The greatest increase of the
present year will be found in manufac-
lures. which. II is believed. win reach
nearly $40 GN0 900 over the corresponding =
period of last year. How much of the i'll
tluX of commercial gold is due to this IN
provement in the balance Of trade Is rot
yet apparent. The probability is that of
the six or eight million dollars reported
on the way here not little is an ex-
preston of revived confidence in our ma
tional credit. due to the demonstration
made by Mr.. Bryan at New York that
there Is not the slightest danger Of lapse
by the United tatps from the money
standard of civilized nations to that OF
rudimentary or semi-ba rbarous ones. All
apprehension that the government gold
reserve is further to be endangered Is dis
PEELED The effect of the incoming gold
will he otherwise realized throughout the
country in moral reinsurance whose re-
suits will manifest themselves palpably rs
soon as politics shall give way to the m ore
profitable occupation of trade and COM
mercp.