The herald., 1898-11-11
PRODUCT OF THE UNITED STATES
AND OF THE WORLD
COMING PATENT COMMISSION
Pig Iron in Demand-Savings Banks
tments-Insurance Notes.
Incorporations-Realty
OFFICE OF THE HERALD,


As in many other directions, the year
1897 was notable one as regards the pro,
duction of the precious metals. Inc goiu
nroduction of the United States for the year
was valued at $57, ,3G3, 900, which was an IN
crease of S4,275,OO0 as compared with the
precedinp year Among the states, Coio-
RADIO led in gold production with Sl9, io4' 'soo
worth. and California came second with
sl4 300 worth, the other states ana ter
ritories following at considerable dis
tance. The silver production OF the coun-
trv amounted to 80, ,860,0 600 fine ounces, de-
crease of 4,974, 800 fine ounces as compared
with the preceding year. Inc coming
value of the silver produced was 500, ,637, 200,
hut the commercial value was, oil course,
very much less. Among the silver-pro-
ducing states Colorado led, as it did in gold
production, with Montana second, the other
states and territories together producing
less than half the quantity contributed by
these two combined.
The total value of the gold deposited at
the mnts and assay offices during the year
was $S7,024,2 ,232, of which $67,923,535 was
domestic. The silver deposited at the same
institutions for returns in fine bars, which
were used in the industrial arts or ex-
ported, was valued at $l2, ,707, l2S, of'which
only SS59,59S worth was foreign. There
was coined in the United States during the
year SCOOPS, ,4S5 in gold and lS,4S7,927 in
silver, of which latter amount $l2,65l, ,73l
was in standard silver dollars coined from
silver purchased under the act of July IA,
$780, prior to November !, 1893, the date
of the repeal of the purchase clause of that
law There was consumed in the industrial
arts in the United States during the year
gold valued at 1870, ,23l, and silver valued
at $ll20l, $50. The metallic stock of the
United States amounted to $l,3S0, ,556,0l7, OF
which $745,245, ,953 was gold and 1886, ,3l0, ,064
was silver.
When we come to consider the production
Of the precious metals in the world at large
we find that for both gold and silver it was
largely in excess OF that for the year pre-
ceding. The worlds production Of gold
in 1897 was valued at $237, ,504, 500, which
was an increase of over S33, 100000 as COM
pared with the year before. The produc-
ton of silver also showed noteworthy in
crease, though not so large as in the case of
gold. The coming value of the silver pro-
duced in the world amounted to 1896, 73O, 300,
which was an increase of nearly $2l 800, 900
as compared with the preceding year. The
commercial value, of course, was less than
Hall VI tudI iluouHt IL NdS WOTtu HOllIlB
that the United States produced not far
from quarter of the entire gold output
OF the world. 1t was distanced by the
South African republic, which, with pro-
duction of $57,633, ,S6l, showed gain as
compared with the year before of $l3s54, 1872.
Australasia, which holds third place, is
credited with a production of $55,6S4, 1872
OF the total silver production of the world
the United States contributed over 20 per
cent. In the coinage of the precious metals
throughout the world gold showed a value
over three times in excess of silver, the
amounts being $437,7l9,342 in gold and
l42,3S0, ,5SS in silver. The value of the gold
consumed in the industrial arts during the
year amounted to s59,OO5,9 $50, and that of
silver so used was $40,435,577. The price
of silver was lower than during the preced-
ing year. The highest London price for
silver, 1925 fine, was 80 1916 pence, the low
est 23% pence, and the average q GIG
pence, equivalent to $060449 in United
States money per ounce fine. This was
decline of over cents per ounce as COM
pared with the year before. At the aver
age price of silver for the year the bullion
value of the silver dollar was so. .467, so
that the standard dollar did not even meas
ure up to the 50-cent mark for the year,
taken as q whole.