Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-10-12

According to treasury onclal VINO
discussed the subject with the Wash
ington correspondent of the Baltimore
sun, the worlds production of gold
increases in proportion to the demands
of commerce. The production of gold
is increasing enormously. In 1888 it
was about Sl65. 900, 600, while last year
it reached the total of S2SS. 600, 600. IL
it had not been for the troubles in the
Transvaal, it is believed the total
product this year would have reached
1920, 0O0,o 900, and even with this dis,
tur bance it will probably go beyond
$500, OOO, GOO. Last year the Transvaal
produced $50, 1926, 600, an amount which
was eoualed by the production of the
first eight months of this calendar
year. ~,
Every gold producing country will
send out more gold this year than last.
AS far as the figures for 1893 have been
received, they are: United States
tincluding Alaska), 1854, 463, 600; South
Africa, $50, 1926, 600; Russia, S25, 463, 600 ;
Australasia, 1858, GIG, 600; Canada, SIT,
600, 600. One reason for the steady in
crease in the gold production, aside
from the discovery of new field, has
been the steady improvement in
| mining machinery and mining methods,
| through which it became possible to
work low grade ores at fair profit.
| In one mine in South Dakota, and in
| the Douglass mine on Treadwell Island,
| Alaska, the ore iuns only about 50 to
| the ton, but as it can be mined and
| the gold extracted for less than 81. 80 q
ton q fair margin for profit is left.
| If the demand for gold should in
crease on account of the falling off In
the production in the Transvaal, more
| stamp mills would be erected and In
such localities more low. grade ores
treated. AS yet nothing has beor
| ATTEMPTED in the Klondike but placer
mining, but when the quartz mills art
erected and put in operation the. pro
duotion of that region should b
greatly increased.
AS England has about 81, 600, 600, 00'
invested in the Transvaal, its atcck
are liable to shrink IN the face of war
London is looking to New York for re
lief, and as the rates OF interest ad
vance in London it is believed New
York capital will flow there. Will
gold flowing to England and interes
rates there going up, rates in New
York will rise and money becom
tighter. This will restrain speculation
and prevent any strong bull movement
although the securities paying regula
interest should hold their own.
London will need gold in case of wa
and will have to buy it in the market
Just az it would any other commodity
Considerable amounts will have to b
shipped to South Africa. The Ban
Of England now has $40, 0o0,O 900 il
gold in it's vaults, which is consider
ably lass than the amounts held b
Russia, France and Germany.
Russia leads the world in the amour
of gold it holds, having nearly $3.50,
OO0.0oo. The Bank of France ha
1880, 900, 600 in gold. The United State
has the third of the long purses
having 1863, 554, 1872, Of which 500,
600, 900 is the gold reserve, $l03, 453, a
is for the redemption of gold certif
, Gates and the remainder is free golc
Germany holds 5000, 900, 900 in golt
Austria. Hungary has $3.50, 900. 900 an
the Bank of Spain has 565, 600. 00(
Italy has nearly $50, 000,0 600. The Ne
York Associated Banks held at th
l time these figures were compiled abor
! Sl55, 600, 900 in gold.
The total amount held by the bank
l and countries enumerated above
1 nearly 81, 600, 900, 600. 1t would, there
fore, seem that even IL the output {
gold from the Transvaal should /
stopped for time, the world coul
find enough ready cash to carry on il
! | commerce.