Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-09-16
oTbe Gold Production of tie World

enormous increase or the pIOuuClioh Va
gold for the past five years. ii may d.
most be considered phenomenal. During
the wear 1897. it is stated upon the highest
authority that the worlds production
of gold reached the extraordinary
| amount of S251. 600. 900. This is the state
ment OF Mr.. Henry Clews, of New YORK
a nnancier of established reputation. IL
may now be stated with something Ike
accuracy that the worlds production CT
gold for 1898 will be over S2I5,WO.OVo; per-
haps. may reach S2S0,0O0.O00. South Africa,
the greatest gold producer on earth
will certainly reach SI5 100000; Mexico,
Central America. British Columbia, Aus
tralia. and the United States of America
especially Colorado. are all increasing
their production. This statement does not
include the Klondike region in which
as yet. the surface has hardly been
scratched. Since it has been discovered
that by the use of the cyanide OF potas-
SUM and the chlorination process GOLD
can be successfully extracted from sui
phurets, capital has come into the busi-
ness i'm great magnitude and gold pro-
duction is being placed upon the same
regular basis as coal mining ana IRON
mining. 1t is almost certain that when
the trans-Siberian railroad Is finished
the gold products of the mines of siberia
will be greatly increased- To cap the
climax, n careful writer, Mr.. Hanks, IN
the Overland Monthly Magazine,
Of California, for August. states and
proves conclusively that the Philippine
Islands contain both quartz gold, true
assure veins. and placer gold perhaps
equal to any country on earth, needing
only science and industry TO startle the
world with another Klondike. Recent de-
velopments in Buckingham county, Va,
have developed true fissure veins with a
quantity of gold so great that l hesitate
TO repeat the statements made by the
finest chemists and mining engineers or
America. The difficulty about Bucking-
ham gold is that IL Is Embedded from 5DO
TO coo feet below the surface Of the earth,
and on that account requires capitat 10
work It. 1t gets better as the shaft Is
sunk deeper. 1t Is found in very nara
quartz. and is mingled with s~ulphurets.
The true assure veins are apparent 10 the
eve. and the analysis runs from $2 to S25O
to the ton, and even higher. The gold
section Is twenty miles long and ten miles
wide. and every stream in that section IS
auriferous. Placer washing In many
places is profitable. Some Of these days
the mother lode will be found, and the
fortunate ones will be rich beyond the
dream OF avarice. The great production
Of gold is going to be an inestinable
boon TO mankind, for 1t means cheaper
money and d slow, but certain, rise In all
the nroducts of labor. II is difficult 10
overestimate its commanding importance.
| do not hesitate to make the prediction
that in five years time the production of
gold in the world will reach SfOO,OcO.CO)'
and perhaps more. And while gold Is FALL
ing silver is slowly, but surely, rising in
value. II seems that the carbonate ores
necessary for smelling silver are be-
coming exhausted. SO far from there be-
ing a glut Of silver it is becoming COM
paratively scarce, and despite the
conspiracy of Europe and America 10
demonetiZe il, IL is forging its way to the
front. It's free and unlimited coinage
i'm the comparatively near future Is UNI
avoIdable. The recent glorious war,
which has cast such a halo OF s%plendor
over North America, and with one brave
bound placed the United States Of Ameri-
ca I'm the forefront OF the nations OF this
earth, especially II Cuba. Porto Rico, and
the Philippine Islands are annexed (Which
we are going to do, not as integral parts
of the Union. but as Territories), has
greatly helped the cause of free silver.
Every ton that We increase our Oriental
trade makes that much greater demand
for silver. We sold China and India
last year 227,OOO bales Of cotton: we can
easily increase this to a million OF bales
or more; indeed, we can. If the Philippine F!
Islands are annexed and a port in China
acquired by honorable negotiation (and
the time is now ripe for III quadruple our
trade with the East. The s%toppage of
the free coinage of silver in British India
is now admitted TO be a mistake and a
failure. The intense and absolute con- |
servatism OF the British Indian and the
Chinaman cannot be overcome by acts |
of Parliament. Silver they nave used
for untold centuries, silver they use now, |
and silver they will continue 10 use. How
any true and staunch adherent bimetal- !
lism can object to the annexation of
the Philippine Islands / cannot UNDER |
stand. And here II is proper for US TO
state that we should designate ourselves |
not as free-silyer men, bur as "bimetal-
lists" for we advocate free gold with the
same earnestness that we advocate free
silver. / will close this paper. already
too long. by the significant statement
with all the phenomenal increase
n the production of gold and with all the
we can get both together will never
bring the level Of prices as high as ruled
between 1850 and 1860. because the great
ldvancements Of chemical aud mechanical
have q%uadrupled not only the
OF the world. but have also qua
the necessity and the demand for
money. Population and rad are grow
faster than the production Of silver
md gold. Intelligent bimetallism is de-
by the needs OF mankind. and
[ will be accomplished. The completion
II the Nicaraguan canal will not only
the necessity of bimetallism.
I will compel II. With our exports for
he fiscal year ending jun Both last ex-
our imports by $ji5. O0O.O0 o IL
makes the future fairly glisten with nope
o the people Of America. OH that | could
wake the noble spirit OF annexation
which animated the immortal Democratic
convention OF lS.i,-the convention which
ave us Texas; which laid the foundation
u the Mexican war. which added 10 our
~erritory the p~rinceiy domain OF Calf
ornia; which converted the shifting sand
Of Yerba Buena 10 the great and
.oble city of San Francisco Who can
that the Mexican war did not add
o the sum OF human happinesss
lain hat annexation IL a true principle
4 Democracy. California and Texas are
signal trophies OF toe Democratic
Of annexation. A still greatert