The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-10-25
THE LOSS OF GOLD.
Practically None Of the Ancient Metal IN
the Present Cold stock Of the World.

FTcSeut NsOun StOCh VI UUr wOrVN.
We sec men every day applying gold
leaf 10 signs and shop windows Many
thousands of dollars worth Of gold Ia
thus used in this city every year. Gold
leaf makes the most attractive business
signs that have yet been invented. But
In all our busy thoroughfares, even In Broad
WAY, wherever the shopkeeper. the fnan-
cher the manufacturer or the professional
man advertises his name and utility. We
may find these gilt signs in every stage Of
dimpidation. The storms and winds are
pleyiug havoc with the gold and eventu-
ally every dollar OF il will be lost.
This is one Of the ways in which millions
~ douars OF gold have been lost az surely
a. though the metal had heen sunk in mid
ocean 1t is phase of the disappearance
Of gold that has been going on since the
DAYS before history was written; for the
art Of gold beating is referred to by Homer.
and Pliny tells Of an ounce Of gold extended
70 $50 leaves. each four fingers square,
which is three times the thickness Of the
ordinary gold leaf Of the present day.
1t seems startling statement. but II Is
true, that economists have held the belief
that nearly all the gold Of ancient times
has entirely Disappeared; and yet there
l. good ground for the conclusion that
from the earliest times OF which we have
record Of the prevalence and use Of gold
70 the downfall OF the Roman republic
the total quantity of gold utilized in one
form or another exceeded in volume the
present gold stock Of the world. Ancient
history abounds with illusions to gold
We read of the abundance of gold in King
Solomon's time. OF the glories OF the tenn
pie at Jerusalem. with it's gold ornaments
and the gold utensils OF the altar; gold Is
frequently referred to in the Old Testa-
ment and the refining Of gold and silver
by cupellation. the process of separating
the precious metals from lead in cupelling
furnace, was favorite illustration used
by Jewish poets. Beautiful ornaments
and vessels Of gold brought to light by the
excavations OF arch ologists show the per-
lection to which the art Of gold working
was brought by Egyptian. Etruscan, Greek
and many other ancient goldsmiths But
these relics which adorn modern museums
and private collections are all we have
TO show OF the gold of ancient times.
What has been recovered in the past
centuries in the form of ancient gold manu-
features is scarcely worth mentioning in
comparison with the great volume OF gold
that was utilized in the early days. We
have proof that this is SO and that the
quantity Of ancient gold now available il
so inoonsiderabe that it may be regarded
a. negligible. Since the discovery of the
Western world fairly accurate statistics Of
the production OF gold have been kept.
We know approximately the quantity Of
gold that has been added to the supply
for three centuries, and the present amount
Of the gold stock OF the world; and these
statistics show conclusively that ancient
gold is not represented In the modern
figures. OF course, large amount Of
modern gold has been lost, but this deficit
is mere bagatelle in comparison with the
great volume OF ancient gold which cannot
now be accounted for in any manner.
Unless the chronicles OF the ancient
writer's are largely unworthy OF credence,
the total amount OF gold that was utilized
throughout the known world in the days Of
the quantity OF gold that Is now in USE
But even though We may regard these
early statements as far in excess Of the
truth, still there is no doubt whatever that
the supply in that epoch was enormous.
1t Is gone beyond recovery and various
influences have contributed to it's disap-
pearance. Gold is a soft metal and is pecu-
liarly liable to abrasion. In making our
gold coin, We mix nine-tenths Of fine gold
with one-tenth OF alloy to retard abrasion
But this wearing away Of the metal is only
delayed, not prevented, by the efforts TO save
1t. Gold is best preserved in the form OF
utensils or art works. which are little
handled, 1t is constantly wearing away
when 1t is in the form Of coin or OF Other
manufactured articles which are much usec
and manipulated.
The ancients made gold leaf and gold
thread, as we do. and in such forms the los,
Of the metal Ia accelerated. Soldiers tel
us that the very thin coating Of gold which
glds their epaulets is not enduring. Gold
used in manufactures is wasted in spite OF
the almost infinite pains taken to preserve
the tiniest particle. All dentists, for exam
pie, will tell us that as they clip with scissors
the bands and other forms of gold which
they shape in their laboratories they can,
not avoid losing little of the metal.
Much Of the gold turned into the works Of
art, the form in which the metal is best
preserved, is in time melted again for other
utilities. Though Benvenuto Cellini wat
the most celebrated goldsmith OF the fir
tenth century, only few specimens Of hi
rarely beautiful work are now to be found
In museums or in private hands. The
vicisstudes OF fortune compelled many
once wealthy families to part with these
works OF art for the gold that was in them
and they were melted by sordd persont
who wanted only the gold.
All the hundreds of influences which to-
day are depicting the gold supply were
Of course, operative in ancient times. Gold
was lost in the processes of manufacture
II was reduced to dust and lost; it was lost
In deep waters, buried in tombs, and, in
troublous times. was hidden in the earth
and never recovered. 1t passed out OF
human hands In many other ways. Not @
bit Of it could be destroyed. but 1t was
Just as far beyond the reach of man. for the
lost gold was 30 widely and thinly dis
tributed that it would never pay to hunt
for it. 1t is in fact believed that very little
Of the vast amount Of gold contributed
10 the supply in the earliest days Of god
seeking In America is now available.
The forces Of nature also are necessarily