Mohave County miner., 1899-12-02
Scarcity of Gold.

fairs is due in part to the curtailing
of the worlds supply through the shut
ting down of the South African mines,
which is beginning to be felt now.
More particularly is it traceable to the
enormous increase in the volume of
business throughout the world. Never
before in history were commercial con-
ditions so prosperous as in the closing
year of tho nineteenth century, and
this increase has created a correspond
ingly enormous demand for the med
ium of exchange money. The foreign
markets are being scraped bare for the
necessary gold. Money-lenders abroad
are fearing that the American source
of money will be intercepted by home
consumption since the South African
source has been shut off through con-
ditions of war. Along with this comes
the heavy borrowing in London by the
municipalities; all of which conspire to
raise the rate on money, thus creating
a dear money market. There is but
one relief, and that is in the increasing
gold production of the world. 1t can
not be hoped that with the slender
help to be expected from the Rand the
impending conditions can be met sue
cessfully. Russia is more than using
up her supply. France can give no
aid; England is beggar for gold;
therefore the United States is looked
to to render assistance. This country
will make a substantial increase in its
production of gold when the figures for
the year are announced, but unless it
increases its production to greater
limit than the present indications
point to, it will be losing race. How
ever, from every mining camp of the
state and surrounding mining regions
come reports on strenuous effort to in
crease the gold output during the last
quarter of the year. 1t is the duty of
every mine in this section of the coun-
try to endeavor to relieve the situation,
and it is encouraging to note that
every camp is responsible to the call.
However, a much greater production
than is now being made can hardly be
looked for. The labor market of Col
orado is drained, so to speak, of every
bodied man, the mines are crowd
ing production day and night. With
but forty days left to the year, Colo
RADIO and her neighbors are bending to
the herculeanan task of making the
output of gold commensurate with the
demand
Cripple Creek, for an example, in
creased her production 100 per cent in
the three months following July and
sent out 2,0O0,OO03 new wealth in Octo-
Der. The production for November
will be increased over that of October,
and there are those sanguine enough
to predict that December will close the
year with a substantial increase of l.
00O,0O0s over October. This, however,
is hardly to be hoped for under condi-
tions now prevailing-not because the
mines are unequal to the task, but be-
cause of the inability of the smelters
and mills of the state to handle the
product. The other camps are doing
equally WE'LL
However, there is every hope for the
gold outlook of Colorado, not only for
this year, but years to come, and with
the prosperity in this direction there
comes rising hope in the hearts of
the friends of the white metal. There
is an indication that the strained con-
dition of the gold market will necessi-
tate a falling back to larger use of
the white metal. When even gold fails
on its work of furnishing the needed
medium Of exchange, as the indica-
tions now point, silver will also come
into use, and the law of supply and
demand will dictate the place to be
occupied by silver. The advance of
the white metal in no wise disparages
the usefulness of gold or its future,
but rather the opposite. If the de-
mand for money continues as at pres
ent, it will bring silver to par with
gold, and the much-discussed money
question will solve itself, without the
aid of Legislators. There is a future
for silver and for gold such as the
world has never witnessed heretofore.
Denver Record.