New-York tribune., 1904-10-02

the increased production OF NJ NJ AA MSH61
gold itself. The world IS wit WIZ SINAxS
messing initiation OF gold chiefly \ MN \ HKE
owing 10 the lnlproE erlent and \ AkM AHN
Cheapenlng OF rnetallurglcI pro- \ PNN &NkN
cesses and Machinery Tor mining " MN AlA
and milling gold. as well a 10 the fN W.
advance technical mining skill \ NWN "
and greater and cheaper facilities \ Wy NSA
than were before within reach for IN ~
exploration transportation and devel- IN ",
oprnent work u.s-lng regions IN M
Il was only natural that fresh enterprise " MA
and superior elgIu -erIug skill should have \ NV
been attracted and infused lnto the gold Nm
mining industry by these growing induce M
rnents 10 develop Hence. some of the M
many mines and tracts OF gold bearing land in y
this and other countries including Mexico. South
America India, China and COrea. that had been
considered poor be worked AZ a profit. now
under the new methods and netaIlurgical processes
being made 10 produce gold and silver on profitable
basis
Because OF the economies improvements and
facilities that have become available vast amount
Of taillngs the accumulation Of many years. and
al one time considered rhless. also being
worked over again with highly profitable results
rich they gold that not secured by the old
and wasteful processes
An old gold miner SAID me recently Il paws 70
work over the tailngs now, though II wouldn have
. paid a few years ago
The same IS true Of many millions Of tons of low
grade ore-bearing quart heretofore neglected and
passed over as likely cost about much mine
and mill a Il would yield IN gold
a new leld for gold mining is thus being opened
all over the world. for what OF country
Is Of another In this matter. example being
tagious We already Il undergoing extensive
development and producing large cash results IN
Australia and California The gold-mIniug industry
IS indeed assuming magnificent proportions In It's
practical effects IS the the discovery Of
new gold mines and only al the beginning
OF what may call this IN gold mining indeed
its effects general business and prices have not vet
become perceplible
The world visible gold supply IS growing rapidly
In both hemisphere and Is larger than before
The United States Treasury held July last.
S7oo6aos22 In gold by the largest accumulation
in the world Of which Saq.485.q49 was represented
by gold certificates issued against deposits Of gold
theory, reserved Tor the redemption Of legatender
notes
This total IS colossal in comparison with what It
vas a few years ago when President Cleveland
negotiating with J. P Morgan and August Belmont
for an exchange Of United States bonds for gold IN
order 20 restore Treasury greatly depleted gold
reserve The SI7o.ooo1co set aside for the redeup-
ton Of ega-tender notes had then been encroachcd
uuon more than a hundred millions and the balance
was growing smaller daily We have much reason
10 congratulate ourselves a nation, the aus
rcious course OF IN financial history since
that time The recent payment OF the Panama
Canal purchase money in gold was an easy matter
for US.
The gold circulation Of the United States IS now at
its maximum the last Government report al the end
Of last December estimating It's total at