The daily morning journal and courier., 1898-11-25
RUssIA,s HOARD OF COLD.
Now Has Largest Single Amount O.
 Trensure the World Ever Saw.


 Washington, Nov. 24.-In his annual report George E. Roberts, the director of the mint, says "The most import ant events of the fiscal year in the world of government finance have been the consummation of the long planned resumption of specie payments by Rus- sia in gold, the reorganization of the monetary system of Japan with gold as the standard and the refusal of the government of India to cooperate with the governments of United States and France in an effort to establish bi- metallism by international agreement The gold coinage of the world in 1897 was the largest recorded, amounting in value to $4S7, ,719,342 against $195, ,Ss9, ,517 in 1896. Of the former sum SAG, ,622, ,194 was recoined, and approximately $291,- 097,14S, net addition to the stock of gold coins. The principal coinage was by the United States, Great Britain, Russia, Germany, Austria Hungary, France and Japan. The extraordinary coinage of the year was accounted for by the preparations of Russia, Austria Hungary and Japan for their monetary reforms. In the case of Russia, partic- ularly, gold which has been accumulat- ing for years, much of it in bars, was passed through the hints to prepare it for circulation.
 Her Gold Reservoir Full.
 "The completion of Russia's plans of monetary reform and the opening to the uses of commerce of her great gold reserve, systematically gathered year by year until it is the largest single hoard of treasure the world ever saw, is in itself most notable event. The demands of Russia for this purpose have been a steady drain upon the gold supplies of the world. Every coin that went into her reservoirs dropped out of sight for the time as completely as though dropped overheard in mid ocean. On the first day of July, 1898, the Russian treasury held over $70,000,- 900 of United States gold coins, $5O,000,- coo worth of English sovereigns, $2I,- OoO,o 900 worth of German gold coins and $15, ,000, 900 in francs, besides the coin she may have previously melted and a great stock in bars Now her reservoir is full; what is added in the future will run over, unless she proceeds to fill another reservoirs as a war treas- ury.
 The Product of Gold.
 Great as was the worlds production of gold in 1897, 1t is certain that the product of 1898 will be still greater. 1 The returns from South Africa for ten months show that at the present rate of production it's yield will exceed the yield of 1897 by s21, 1852, ,000 The returns from Australia indicate that it's prod- uct in 1898 will excell the product of 1897 by $1O,335, 900. From July 15 last to November b the receipts of gold at Seattle and San Francisco from the Ca nadian Yukon aggregated $1o,OOo,Oe and on this basis the increased produc- ton for Canada in 1898 is estimated at SS. 900 .O0O. The increase in tbe United States can hardly fall below $5,OOO,OO0 The total of these estimates is $45, 5,0OO,0oO, which added to the figures of 1897 would indicate a worlds product in 1898 ot $2S3, ,192, 800, if the remaining countries in their aggregate are unchanged. The product of 1891, $13o, 100000, will be more than doubled by the combined value of the gold and silver product ten years ago exceeded by gold alone.