Arizona republican., 1902-02-17

fully prepared article, gives tables and
 figures showing the THE enormous increase in GOLD the worlds annual pro- PRODUCTION. duct of gold which
 has taken place, but takes the ground that il is not too great yet to meet requirements.
 What these requirements are may be judged from q comparison of the reserves carried by four Of the lead ing banks of Europe now and those of eleven years ago. The Bank of Eng land on January ?, 1902. held fS2. .593.2 219. against f2S, ,46j. .SS4 in the first return in January. 1891; the Bank of France f97 959. .iS1. against IA, ,S05. GOO; the Bank of Germany f3O. 5S9. .0O0. against f25, ,2S9,- 333, and the Bank of Austria Hungary f45, ,62S, ,OOO. against f5,412,O09 a total of f2O7. .7G9. 700 against f93, ,972 167, or an increase of f1OS. 797.5S3. about no per cent. The great increase in the holdings of the Austria Hungary bank was largely due to the movement to place the country on q gold basis. but this draws attention to what the fu ture demands for gold will be as other countries, which are preparing to make the change. shift from a silver standard. Not only will there be call by the banks for gold, but there will also be q large supply needed for cir culation among the people. During the last four years Great Britain i'm ported f123, 162. .95S of GolI and exported s9O. iSS, ,S26. As the holdings of the Bank of England decreased f2,G00,GJ) during the same time, it thus ap- pears that about l34,6oO .OCO or s173,OOO.- coo of gold was absorbed in the interior holdings of the country and in the arts, which latter everywhere consume q steadily increasing amount.
 During the five years 1s51-1355 the worlds product of gold amounted to an average annual yield or $1i2 i2.O7S,6O4. It decreased steadily from that time until in the years 18s1-lSS5 l. averaged only S1O1.5Tf.919. and the price of sil- yer declined during the same time from CHS pence to 5O% pence. From the year 1882 the worlds annual out put of gold increased continuously. until the year 1889, when it had reached q total Of S3i4 4.S5O. .2g3. Tn 1900 owing to the closing of the South mines on account of the war. the product fell off to S262. .220.9l5; for 1901 the estimated product is SzG6.- 549. .3CO. Now that the mines in South Africa are beginning to be worked again . slow but steady increase in the production Of gold is to be looked for. The result for 1901 as regards the Wit district, beginning with May. when work was resumed, were 23s, ,49t ounces. or only a little over 60 per cent of what was the monthly pro- duct just before the war broke out In December but 52.397 ounces were mined as compared with 419. .504 ounces in the same month of 1898.
 The product of the United States for 1901 shows an increase of only about million dollars over the preceding year, and the Australasian colonies an increase of Ss.153 ounces. the amount for the year being 3.s1S,iI4 ounces; Canada's output for 1901 de- creased nearly $3,OOO.OGO; Russia more than made up this loss. however. an increase of a little over s4,c00.0o0; India ipcreased it's output about 6.oOO ounces. Other countries. as corea, Brazil. Chile and Peru. have been showing gains of late years, and probably there will be an increase in those regions for 19O1 over 1900 Co., ombia, on the other hand. owing to political disturbances. will show a de- ;ided loss. From these statistics it appears that there need be no appre- lensions that the production of gold is likely to be in excess of the worlds needs, for the older mining countries are not increasing their output to any great degree nor are new gold-pro- lucing regions appearing any too -2 pidly.