The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-02-05

men of the period. Inventions and the ap-
plication of scientific processes have
wrought the miracles Of the age.
Ever since geology became a science those
eminent in geological research knew that
untold millions of gold were locked up in
veins of rock of the hardness of adamant,
but they came to the conclusion that it
could never be made available. Such was
the Judgment Of DIR. Edward Suess. the EN-
| inent Austrian geologist who printed a book,
THE Failure of Gold" in 1877, in which he
declared that lode production was unproht-
able and that deep gold mining had never
proved successful; consequently, all the gold
available was that in alluvial deposits, in
remote and unexplored portions of the world.
Upon such assumptions this savant declared
with the assurance of certainty that half
the available gold in the world had already
passed through the hands of mankind, while
the other half was scattered over the world
in unknown placers which made more than
very moderate annual product impossible
and wholly inadequate to meet the demands
for a basis for the worlds money.
The case which the professor made was so
strong and was so supported by other geol-
ogists and by economists that large por-
ton of the intelligent people in Europe and
this country became converts to interna-
tional bimetallism. AS DIR. Suess's assump-
tons were based upon the conditions then
existing, international bimetalism was re-
cessity, because there was not and could not
be sufficient gold for the monetary purposes
Of he In, +J,a
suficiency of gold for the establishment of
! gold standard was weIl-nigh universal.
The annual output Of the mines was so even
and so small that the prediction of Suess in
1877 was verified
During these years the restless investi-
gator with scientific methods at his COM
mand was struggling to discover the solvent
that would reaIease the $40 worth of gold
locked up in limitless veins Of quartz What
is the gold there for if not for the use of
man? 1t is for to use of man, and it is so
locked up that the world shall not have the
precious metal in excess of current needs so
as TO cause great depreciation. Enterprise
and investigation joined hands to unlock the
gold. Millions of dollars and years of time
of the product of gold testified to the success
of man over material which was in 1892,
| when the output rose to $146, CO0U00 The tri-
umph of science is attested by the increasing
| output of gold in the years which followed
$751; 100000 in 1893, $1S1 0CO OO0 in 1894 $3.50 800
O0oin 1885, 1902 100000 in 1885, 1927 900 in 1897
and over rather than under $500, 600 eco in $685.
| The rapid strides which gold production has
made the past three years indicate that this
year it will reach $35O,OO 900. The claim of
the insufficiency of gold for the standard of
| values is no longer made except by those
who ignore facts and cling to a wrecked
| party platform. The possibility that abund-
ance will cause depreciation Of gold which
will be seen in a rise of prices of COM
modities is already the cause of speculat ton.
The output of gold the past six years has
not been less than 81 ,275 Co., OOO During the six
years beginning with 1880 the output of gold
did not exceed $500, 600 900. The savant who
held that the gold locked up in the veins of
quartz could be of no value to man has been
pushed aside by men of inventive genius and
practical scientific attainment, so that BIZ
metallism is a theory of the past in Europe
and would be here had not party been
involved in the disaster which practical
science has brought to all those who ignore
facts and Sneer at progress