The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-11-23
HOARDS OF GOLD.
Native Priests ana Rulers Have
Great stocks Hidden Away-rhe
Treasure Goes Into Those Lands.
but IL Never Returns to occident.

Gold for various reasons disappears rap
idly in all countries, but nowhere else
does Ii pass out OF sight as rapidly as In
India and China. So rapidly does the pre-
cious metal vanish In these two Oriental
lands that they have come TO be known
as gold graveyards. Speaking OF t-.is
curious characteristic, Thomas Jefferson
Hurley of the American Institute of Min
ing Engineers, in his recent pamphlet on
the gold production of the world. says:
"A yellow stream flows into both OF
these countries year by year. There vs. no
end to this stream; II Is always flowing.
The money does not reappear in the In
dian banks. The soil of India ahsorbs the
golden food just as the sands OF the des-
ert swallow the overflow OF the great
rivers. When IL Is remembered that this
work Of absorption has been going on
with little interruption for ten centuries,
and still continues under our eyes. 1t Is
easy TO form an idea Of the immense
treasures that are hidden In that country.
'-Ali this gold remains sterile. and con-
seduently Is lost. II Is absurd to say that
IL is brought into monetary circulation or
that il passes through the hands OF the
native goldsmiths. 1t is disseminated in
innumerable places, from which II never
energies.
cit is estimated that in the regency OF
Bombay alone there are Il. 600 600 gold SOW
ereigns boarded. Hundreds upon hun
dreds OF millions OF dollars lie In the hid
ing places of the fsmine-stricken land.
All classes are AFFLICTED with the incurable
habit of boarding gold. The splendid Mas
harajahs have become shrewd enough TO
use banks of deposit but there Is still
barbaric display Of jeweled Idols In the
strong rooms and Of golden vessels In the
princes apartments
Even the gods OF India remarked a
writer In the Courier des Etats Unis,
are very fond Of gold They whistle for
Il through the lips of their priests. 0bed-
lent to the divine call. II comes ripping
from all points. until II reaches the sacred
parnis. II accumulates In the subter-
ranean passages OF the temples. TO which
the priests alone have access. Thence IT.
overfiows and takes its place like proud
conqueror upon the affairs, where II shares
with the gods the incense and the hon.
age OF the men II has bewitched
"Itsseeu1s 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 II out OF use and circulation"
But India and China are not tho only
countries which absorb gold without ever
giving II back again As n matter OF fact,
in all countries there is tendency on the
part Of coined gold to get out OF sight
and stay hidden This Is q subject which
has occupied the students of finance in all
lands, and there have been many analyses
OF the difYerenr causes for the disappear
ance OF gold Yet, with the most In
genious explanations. the problem always
has remained very interesting one. Our
own treasury officials have given II good
deal of study
OF the vast amount Of gold that Nv an
nuaIiy mined and put into circulation
there always remains heavy balance TIM
accounted 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 10 charge to loss by
fire. by being sunk In deep waters and by
boarding.
Our treasury officials according 10 Mr.
Hurley. estimate that there IL used in the
arts annually. IN gliding In eIectropating
and similar occupations, which withdraw
gold from possibility OF other use. prob
ably not less than si0,oo0.oa0 worth OF gold.
Mr.. Hurley says that all the indications
are that the worlds output of gold VIII
continue 10 increase for many years 10
come even over the vast amounts that
are being turned out at the present day.
Net only. he says, are new processes saw
ing gold that Il was impossible 10 save
ten years ago, but new gold camps are
sprirging nto life. and old silver mines
are developing into gold propositions MS
greater depth Is attained.
1--WE predict" he concludes. that with
IN the next twenty years Alaska and the
Northwest territory viii yield over 81. 0a,-
COO Co., and that by ie2s they will contain
a population Of over 1an0ps