New-York tribune., 1900-12-26
THE PASSING THRONG.

'The successful solution Of the financial question
in this country and in the world az large, said
II. II. Longworth. of San Fran
THE CISCO at the Hoffman House yes
WORLDS terday. seems to to be due
INCREASED in large part to the enormous
GOLD increase in the worlds supply OF
OUTPUT. gold in the last decade. Prior to
that time there hardly enough
of the precious metal to go round. and any undue
demand on the part OF country would be fol-
lowed. like not. by a dearth of gold in other
parts Of the world This shown when we were
building up gold reserve. and later still when
Austria banking a gold reserve of her own
Then came great increase in gold production.
and it was Aof sufficient size 70 supply the needs
of all countries and to give the lie to one OF the
principal arguments Of the bimetallists. l. g.. that
there could not be successful single gold standard
for the world there was not a sufficient guam
tty of the metal to supply the needs OF all eoun-
tries.
This great increase in gold is due in large part
to the wonderful Transvaal mines. and this pro-
ducton will continue as soon as the hgnt there ls
nay at. az an l. enc a1 0n oceSg 70 intePrup mining
the Rand reef will produce in gold IN tne mex eo
Ten years or more ago Hammond predicted that
the Rand mines before the end OF the century as
Had the Boer war not occurred. tn1s pree1etISn p1 ion
would have G % oGen neW 10 exceed that
enormous sum as soon as they get down 20 d "oIn S
Is be Best proposition that has ever been dseov
cred The gold is regularly deposited and averages
ference from ton to ton, As a consequence. the
dividends as regular as those OF a business en-
terprise
.eThev mine in the Rand at great depth-greater
than anywhere else in the world except IN the
copper mines Of Michigan" contin-
THE RAND ued the narrator Roughly speak
MINES SUNK ing. the heat in mine increases
To GREAT a degree for every 20 feet you de-
DEPTHS scend but the coholtlols VI '"0
country surrounding tend 10 inten-
sify or lessen this heat. The great ComstocA loue
in Nevada was in country OF extinct VOlcahos7
and where eeysers are still spouting, consequently
the heat on the lower levels OF the ConstocA was
awful Then. too. mining at great deptn Is laIselS
question of coal That is, coal IS necessary 10 IoSe
air N the lower levels Mining at depth has SO
far improved that now they think nothing ol
going further into the bowels Of the earth than the
Comstock miners would have dreamt posslOl7'
The first engineers in the Rand came from Ihe
Comstock and their experience there leu them INTO
error in South Africa. 1t had been Impossible On
account of the heat to 60 to more than certain
depth in Nevada, and these engineers did not
therefore believe that 1t would be possible TO 6rive
mines 1e only vent down from 1000 ZOO feet. and
where the vein went peyon9 Ihis 9ePtn @ 7;sf Engy I
into which the vein dipped not held Of highest
VaI1e and sold at this time at comparatively low
fgnre Then came other engineers, who figured out
that it was feasible TO drive deeper sharts, ana
cured by ei their employers The workings in the
Rand now go down nearly a mile, and IL IS felt
that it is possible to go deeper stiL- The men
who bought in this land accumulated great fort
unes and assured for themselves enormous incomes
for wears to come. With South Africa came Barnato
and Wolfe and Alfred Belt who is to-day one OF the
worlds great financial powers. But, greatest or
an it brought forward Cecil Rhodes that intel
lectual giant. who still stretches his hands out In
the attempt TO grasp a confederated Africa. IN
which he shall be the great power. Janeson's raid
gave Rhodes tremendous setback. but ne Is a
wonderful man, and is fast recovering He IS sJlll
young in years, and capable Of awaiting and not
trying force the opportunity TO accomplish MS
object I, for do not feel certain that he will
not attain his end that is. If the Lord spares him
and another Jameson does not gain his confidence