The Providence news. (Providence [R.I.]) 1891-1906, 1900-12-17
BIG HOARDS or
YELLOW GOLD.
India and China GraYsyaTds
for Precious MstaIs.
MUCH BURIED IN THE SOIL.
Regular Solid Stream Of Money Flaws Into
These Lands, but Il Never tIsws
back Again.
MUCH BURIED IN THE cOIl.

Gold for various reasons disappears
rapidly in all countries, but nowhere else
does II pass out OF sight so rapidly as Ia
India and China. So rapidly does tn
precious metal vanish in these two Orie.
tai lands that they have come TO %
known as gold graveyards.
Speaking of this curious characteristic
Thomas jefferson Hurley OF the American
Institute of Mining Engineers, In his re-
cent pamphlet on the gold production of
the world says:
"A yellow stream flows into both of
these countries year by year. There IL
no end to tsis stream; II is always now-
ing. The money does not rsappear In
the Indian banks The soil OF. India alb
soros the golden hood just as the sands
OF the desert swallow the overflow OF
the great rivers.
Nv hen 1t iC remembered that this work
of absorption has been going on with
little interruption for ten centuries, and
sui continues under our eyes, II is easy
to form an idea OF the immense treasures
that are hidden in that country
All this gold remains sterile, and con-
sequen,ly In lost. Ii is ABSURD to saw
that II Ia brought into monetary circu-
lstion or that IL passes through the hands
OF the native Koidsmiths. 1t Is dissemin-
ated I'm innumerable places, from which
IL never energies.
MILLIONS ARE HOARDED.
III is estimated that in the regency Of
Bombay alone there are IL, ,0O0,U0O gold
sovereisns boarded. Hundreds upon hun
oreds ot millions OF dollars lie in the hid
inS places OF the famine-stricken land.
All classes are africted with the incura-
bic habit OF boarding gold.
abe splendid MsharaJshs have become
shrewd enough TO use banks of deposit,
but there is still barbaric display OF Jew
eled 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 Etas Unis.
are very fond Of gold. They whistle for
II through this tips or their priests. Ube-
dent 10 the divine call, II comes ripping
from all points, until 1t reaches the sa-
cred parnis. IL accumulates in the sub
terranean passages OF the temples, to
which the priests alone have access.
Thence 1t overnows and takes It's place
like proud conoueror upon the aitars
where IL shares with the gods the IN
cense and the homage OF t..e men il has
bewitched.'
1T seems curious that while half ne
worls Ia engaged in an eager search i5r
gold the teeming populations OF india aud
China devote most of their energlee 10
keeping II out OF use and circulation
But India and China are not the Only
countries which absorb gold without ever
giving 1t back again. As matter OF
fact, in all countries there Is a tendency
on the part OF coined gold to get out OF
sight and stay hidden.
This Is subject wnich has occupied
the students of finance in all lands, and
there have been many analysis OF tho
OF gold.
OUTPUT WILL INCREASE.
Yet. with the most ingenious explana-
tions, the problem always has remained
a very interesting one. Our own treas
ury officials have given II a good deal
of study.
or the vast amount OF gold that is an
nually mined and put into circulation
there always remains a 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
fair amount to charge to loss by fro,
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 electro
plating, and similar operations, which
withdraw gold from possibility OF other
use, probably not less than $40, 900, 900
worth OF gold.
Mr.. Hurley says that all the indications
are that the worlds output OF gold will
continue TO increase for many years to
come. even over the vast amounts that
are being turned out at the present day.
-says,-aFe-aew processes
saving gold that II was impossible TO save
ten years ago. but new gold camps are
springing into life. and oldSslver mines
are developing into gold propositions as
greater depth Is attained.
eve predict" he concludes. that with
in the next 20 years Alaska and the
Northwest territory Will yield over ST.
ooO. .ooo, 600. and that by 1928 they will con-
tain a population of over ]. 900, 600"