The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1896-08-12
OUTPUT OF GOLD MINES.
Their Annual Producing Capacity HaA
Increased Ina the United States.

Their Annual Producing Capacity Hal
Increased Ina the United States.
From The Philadelphia Telegraph.
One result which has followed the pros
tration OF the silver. mining industry since
the summer of 1898 has been the increase
In the product of gold mines, more partic.
ularly in the United States. The latest
figures show the gold product of Colorado
to have been 500, 900, 900 last year, CON-
pared with $12. 900, 900 in 1894 and 81,
900, 900 in 1899. The gold product of the
United Stats last year was $50, 900, 600
10 value, the product OF other countries
collectively being $ll0,000,000 as fol.
lows: South African gold fields, $40,-
600, 900; Australia, $40, 900, 900 Russia,
1915, 600, 900, and Mexico, $4,000, 900.
The animal product OF other great pro-
ducing countries shows large increase
since 1898.
1t is said that simply by the removal of
the restrictions on hydraulic mining Cali
fornia could be made TO produce $500,
100000 of gold. Other parts OF the
United States are also rich, while Austria
liza and Russia probably possess n stock
equal 10 our own. But the most surpris-
ing, and, so TO speak, revolutionary facts
regarding gold that have recently come TO
light, are those concerning the great Wit
waterstrand mines OF South Africa. There
gold Is found In enormous quantities, and
In cheaply workable form, in new
geological situaiion-in strata the compo-
nent parts OF which are pieces OF quartz
hni haF hu nj
Following the gold fever on the Pacific
coast, the product OF gold ore reached its
highest point in 1953-$65, 900, 900. Az
ter that it declined, and in 1867 touched
500, 100000. Since then. except during
the squirt at the discovery OF easily mined
gold la Colorado In 1873, tho total yearly
prodnct Of $50, 900, 900 was not reached
until this year. With the improvement
in machinery and methods of working
mining properties, the volume Of gold
brought into the market each year seems
now 10 be on scale OF probably perma-
nent increase. From the discovery of
America in 1492 until 1000 the total pro.
duct Of the world was $50 tons. From
1900 to 1900 it was 1000 tons. From
1900 to 1890 II was $1,000 tons. One
uhlI Oh tue hunuhi RoIu pfouuCt Vi thc
United States is mined in the two States
OF California and Nevada.
The amount of gold coin In use in all
the countries OF the world, collectively,
amounts TO So, 600, 100000 in value.
About one-third OF the gold mined is used
for coinage purposes. The value OF gold
coin In the United States Is 5000, 900, 900,
against $500, 900, 900 in France, $500,
600, 900 in Germany and $3.50, 900, 900 in
England.
The free silver orators predicate much
OF their argument upon the insufiiciency
OF gold as circulating medium in the
worlds business, but the recent increase
In the output Of gold has had the effect Of
reducing TO practical denomination Of
their inaccuracy some OF the most popu.
lar Of the arguments heretofore used by
free coinage men. While In Africa the
increase OF gold products has led to acts
OF disorder, in the United States ii hai
doomed the business OF States in which
the decline OF the silver mining industry
had bad detrimental effect.