Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1898-01-21
A PLETHORA
OE GOLD.

IA Il AI Il 111OAO1A1
OE GOLD.
THE WORLDS SUPPLY OF GOLD
HAS LARGELY INCREASED.
The Product of the Mines of Vel.
low Metal Has Increased 56 Per
Cent, or Over One.half the
Amount Extracted From Them
for the 37S Previous Years.
The latest report Of the Director of
the Mint on the production of gold
and silver shows that there has been
a great increase in the recent output
of the former precious metal.
The director says in substance:
The worlds production of gold in
1896 was 305,379 Kilograms, or 9,S17,-
99l ounces fine, of the value, in round
numbers, of $2O3, 100000, as compared
with 299,8S5 Kilograms, or 9,641 1897
ounces fine, of the value of $199,304,-
600, in 1895, an increase of $3,696,O0O.
This increase of the worlds gold
output in 1896 over that of 1895 is not
as great as was that OF 1895 over 1894,
which amounted to $1S,129,000; nor
is it as great as the increase of any re-
cent year over the preceding one, as
will be seen from the following figures:
Increase of gold product of
1891 over 1890. 0............ .$11 ,8O1 900
Increase of gold product of
1892 over 1891 ............ 100000
Increase OF gold product of
1898 over 1892 ............ 10,S43, 900
Increase of gold product of
1894 over 1888 23,6ST 900
Increase of gold product of
1895 over 1894. ............ 1S,129,0OO
lacrosse of gold product of
1896 over 1895. 3,696,000
The worlds output of silver in 1896
was, approximately, 5,l36,274 kilo-
grams, or 165, ,lOO,SS7 ounces fine, OF
the commercial value at the average
price during the year of $O.674 per
ounce fine of $111,27S, 900, and the
coinage value of $213, ,463, ,7OO-a de-
crease as compared with 1895 of 6S,-
600 Kilograms, or 2,lS7,S42 ounces
fine, of the commercial value of L.
Ala COG and the coming value of $2.-
S2S,725.
While there was decline in the
worlds silver output in 1896 over that
of 1895, there was an increase in it
over that of 1894 of about $500, 900
coming value, representing 800, ,493
ounces fine.
The total world production of gold
from 1871 to the end of 1896, both
years included-that is, from the year
in which Germany took the first legis-
lative measure toward realizing its
long-cherished ideal of going over to
the gold standard, to the present-was
4,S77,22S Kilograms, or 156,SO3,O02
ounces fine, of the value of 1924 ,4O5,-
72O.
The total world production OF gold
from 1892 to 1S7l-that is, from the
discovery OF America to the year in
which Germany took the first steps
toward the demonetization of its silver
was S,65S,l75 Kilograms, or 27S, $780,
543 ounces fine, of the value of $5,-
754, ,223, ,1O5.
From the above figures, it, therefore,
appears that the product of the gold
mines of the world during the last 26
years was Sc per cent, or over one.
half, of the amount extracted from
them in the 37S years from 1892 to
1871.
The total worlds production of gold
from 1892 to 1896, or in 404 years, was
13,535,4O3 Kilograms, or 435, ,163, ,545
ounces fine. AS during the last 26
years the worlds production was A.
S87,2 Kilograms, or 157,124, ,502
ounces fine, it follows that since 1871
the amount of gold put on the market
of the world was over 36 per cent. of
the total quantity obtained in the 404
years since Columbus landed ON the
soil of America.
During the five years last past-1S92
to 1896, both inclusive-the value of
the gold alone extracted from the
mines OF the world was 1887, ,725, 900,
or $29,21S,OO more than the value of
both metals produced when gold came
in such streams from the mines of
Australia, California and Russia, that
eminent theorists and practical men
alike thought that it should be demon
etized.
During the year 1873, when the
standard silver dollar was dropped
from the list of coins to be minted in
the United States, the production of
both gold and silver in all the coun.
tries of the world was SIT, 100000.
In 1896 the production of gold alone
in all the countries of the world was
$2O3,00O,O00, or over la per cent. of
the worlds product of both metals in
1878. The yield of the worlds mines
in 1888 was only $95, $4,000. In 1896
it was nearly 214 per cent. of what it
was Is years previous. Such an afflux
of gold was thing undreamt of in
1873 or any previous year in the
worlds history. Nor is there any
prospect that the sources OF gold now
so plentiful and so rich will soon be
exhausted.