The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-21
THE INCREASING OUTPUT OF GOLD.


The forthcoming report of the director of
the mints contains some figures respecting
the production of gold and silver which,
while they are not new, are so grouped as
to show the wonderful increase during late
years of gold and silver, and particularly
of gold. The worlds production of gold
from 1898 to 1871 was 27S $685. SAB ounces fine,
of the value of $5,754, 223. 1O5. The world S
production of gold from 1871 to the close
of 1896, both years included, was 156, S03, 0O2
ounces Of the value of So ,241, 4O5, 720. That
is, during the twenty-six years which closed
with 1896 the worlds output of gold was
over Sc per cent. of the output of the 37S
years prior to 1871. The average annual
production of gold by the world from 1S4S
to 1871 was 1856 236 ounces. During the years
1871 to 1896, the period in which we heard
SO much about the dearth of gold, the
worlds average annual output was $3.50 S62
ounces, which is eight times as much per
annum as previous to the so-called demone-
tization of silver. The worlds production
of gold during the five years 1S56-1s6O, when
the mines of California and Australia were
astonishing the world by their outflow of
gold, was 1,OOS, $50 Kilograms. During the
five years 1S92-1S96, both inclusive, the
worlds output of gold was 1,335,72S kilo-
grams, or 90 per cent. greater. And yet the
increase of gold was so great during the
earlier period-1S56-1S6 0-that eminent the
orists thought the yellow metal should be
demonetized, so plentiful did it seem to
them, while during the period that the out
put was 80 per cent. greater and rapidly
increasing, theorists declared that its
scarcity had caused values to decline.
During the years 1S56-1S6O, the period of
the greatest productiveness of the mines of
California and Australia, the total value
of both gold and silver taken from the
worlds mines was $S5S, 507 0OO During the
five years 1S92-1s96 both included, the value
of gold alone taken from the worlds mines
was $685., 725, 900, or $32, 21S,OOO more than the
value of both metals during the earlier
period. During the year 1878, when the al
legged foul crime" of dropping the silver
dollar from our coinage was committed, NE
worlds production of gold and silver was
valued at SIT. 900. During 1896 the worlds
output of gold alone was $203, 000 That is.
the output of gold in 1896 was AS per cent.
more than the output of both metals in
1873 In 1888 the worlds production of gold
was $685. ,0O0 which, compared with the
production of 1896 ($2O9 600 0O0) is $1O7 sos 900
less. This means that as often as 81 of gold
was produced thirteen years before 1896,
nearly $2.14 was mined in the last named
year. The worlds gold crop of 1896 was
$S4, 153. 600 greater than its crop in 1890. The
output the present year will be far in ex-
cess of that of 1896. reaching an aggregate
of not less than 1920 O0O,CcO During the past
year more gold territory has been discov-
cred than ever before in single year. yet
the Bryanites are shouting that gold is 50
scarce that the United States must stamp
80 cents worth of silver bullion one dol
lar. to the end that there may be more
money.