The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1900-11-28

pass out of sight SO rapidly as in IN
dia and China. So rapidly does the
precious metal vanish in these two
Oriental lands that they have come TO
be known as gold gravcyards. Speak
ing Of this curious characteristic,
Thomas Jefferson Hurley of the Am
erican Institute OF Mining Engineers
says:
"a yellow stream flows into both Of
these countries year by year. There
is no end to this stream; it is always
flowing. The money does not rcappcar
in the Indian banks. The soil Of In
dia absorbs the golden flood just as the
sands Of the desert swallow the over
flow Of the great rivers. When It is
remembered that this work of a5sorp
tion has been going on with little in
terruption for ten centuries, and still
continues under our eyes, it is easy to
form an idea of the immense treasures
that are hidden in that country.
"All this gold remains sterile, and
consequently is lost. 1t is absurd to
say that it is brought into monetary
circulation or that it passes through
the hands of the native goldsmiths.
It is disseminated in innumerable
places, from which it never emcrgcs.
1t is estimated that in the regency
Of Bombay alone there are 1900, 900
gold sovereigns hoarlcd. Hundreds
upon hundreds Of millions Of dollars
lie in the hiding place Of the famine
stricken land. All classes are afflict.
cd with the incurablc habit of hoard
ing gold. The splendid Maharajahs
arc shrewd enough to use banks of de-
posit, but there is still barbaric dis
play Of jcwelcd iIols in the strong
rooms and of golden vessels in the
Princes apartments.
Even the gods Of India, remark
ed writer in the Courier dcs Etats
Unis, are very fond Of gold They
whistle for it through the lips of their
priests. Obcdicnt to the divine call
it comes ripping from all points, un-
til it reaches the Sacred parnis. 1t
accumulatcs in the subtcrrancan pas
sages Of the temples, to which the
priests alone have access. Thence it
overflows and takes its place like
proud conqucror upon the affairs,
where it shares with the gods the in
conso and homage Of the men it has
bcwitchcd.'
"It seems curious that while half
the world is engaged in an eager search
for gold, the teeming populations of
India and China devote most Of their
energies to keeping it out of use and
circulation"
But India and China are not the on
ly countries which absorb gold without
ever giving it back again. AS mat
ter Of fact, in all countries thero is o
tendency on the part Of the coined
gold to get out of sight and stay hid
den. This is subject which has oc-
cupied the students Of finance in all
lands, and there have been many an
alyscs Of the different causes for the
disappearance Of gold. Yet, with tho
most ingenious explanations, the pro-
blem always has renal acd very in
tcresting one. Our own Treasury
officials have given it good deal Of
study.
Of the vast amount Of gold that is
annually mined and put into circula
ton, there always remains Il heavy
balance unaccountcd for, even after all
allowance has been made for use in
the arts, for loss by friction and for
what would seem a fair amount to
charge to loss by fire, by being sunk
in deep waters and by boarding.
Our Treasury officials, according to
Mr.. Hurley, estimate that there is
used in The arts annually, in gliding
in electroplating and similar operation
which witbd gold from possibility
Of other use, probably not less than
s10,000,000 worth of gold.
Then there is the use Of solid gold
in jcwelry and plate. This in reality
is not an actual withdrawal Of gold,
for it can be rcmelted and coined
Still, the handling of the metal in the
process Of manufacturing these arti-
clcs and the handling of them after
they arc made is source of very con-
siderable loss from friction, under
which gold. because of its softncss,
loses weight sometimes with startling
rapidity. It is estimated that gold
for these purposes is used every year
to the amount Of fully $4,000, ,0GO.