The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1907-08-22

with fairly steady increase In ii:
Accommodations of gold until it reaches
1890. Then a gold deluge
Ibe above table Is startling enough.
but the detailed facts are more so.
In the period from 1871 TO 1910 the
average production Of gold was only
sll, 10000 In the decade included
10 the years ise6-ls05 the average
gold production rose to the stagger-
Ing amount of s305, 100, 0ool In the
present year we will produce new
gold which will sell In the minis for
not less than s425, COZ. 0e0
If these figures prove anything
they prove tina. gold Is absolutely
worthless as a standard OF value.
Ihey prove it so eonclusiyely that no
defense is possible. II 1t takes un-
told centuries for a precious metal to
attain an annual production OF si2,-
10000 In 1850, how precious is it
Ia 1900, when the mines turn out
ofUu, UO,O zoo or itfI
After reference to the silver cam
paign OF 1896, in which he takes
good natured fall out OF both sides
saying the bankers demouetized the
wrong metal, which they are now be-
ginning to realize, and that the de-
monetization OF silver has been the
prime cause OF increasing the total OF
bullion for coinage through the slim
ulus given to gold seeking, Mr..
Adams says:
The gold standard Is doomed. and
with 1t there will be cast into his.
tory's rubbish pile the absurd expe-
dent OF measuring values with SUBJ
stance dug from the ground. IL Is
almost impossible to name one ma
terial more worthless than gold as
STANDARD OF value. The unthink-
Ing may imagine that it remains con.
slant by reason of the fact that we
cannot see 1t shrink. but day by day
all other commodities and utilities
increase in value as compared with
IT. Look at the prices of silver,
iron, copper, zinc, wheat, fabrics,
lumber, meats, and everything else
which can be named, including spec
ulative and investment stocks. and
then answer the question of how gold
serves to maintain an honest and
cf net ant caaIa IF x,rioaSt
We have seen how the production
OF gold remained almost constant
from 1892 to 1910, and how it then
rose by leaps and bounds. From less
than $4,000. 600 in the period OF 1921
40 1t rose to more than $500, 600, 900 in
1896. There was witnessed the
astounding spectacle Of single year
producing more than half century.
What shall be said of substance Sc
lected for STANDARD OF values''
which In the latter half OF the nine
teenth century was produced In guam
Titles nearly ten times as great as In
the first half2 Not ten per cent.
more-which would have been fair
increase-but one thousand per cent.
more.
The medium by which all values
are determined has almost doubled In
ten years? i doubt If another COM
modify can show an equal boom.
When the silver men proposed to add
that mat nj m oninaua tbora uae ,.rc
duced In all the world only about
$500, 900, 900 OF both silver and gold;
when silver was demonetized IN 1873
the amount was 5000, 900, and
now, in consequence of their victory
for ''sound money the minis are
called on TO grind out more than
$500, 900, 900 in gold alone. conserv-
atiye estimates place the yield 10
three years from Hew at half billion
annually, and there is no reason why
the billion figure shall not be reached
within ten or TWELVE
Following this 1t is pointed out
how by electricity mines can now he
worked that formerly were above a
water supply, and then the writer
turns his attention to South Africa
with the following overwhelming per-
diction:
THE time has come when gold Is
an article OF manufacture. There
are practically exhaustless tracts Of
rock and soil In which gold is being
produced In enormous quantities
with absolute elimination Of risk. /
shall briefly consider two typical in
stances of "gold manufacture, eth
err one of which is sufficient TO doom
gold as a medium OF exchange.
IN 1884 the discovery OF the great
est deposits OF gold 10 all history was
made known. This was in the Wit
waterstand district OF the Transyaal
OF South Africa. Compared with 1t
the famous Comstock Mines were
nothing. Not until recent years has
it been possible to 90 ahead 10 the
extraction OF the billions In gold
which are scattered through the
rocks ard soil Of the Wltwatersraud
1t required new processes. but science
and invention supplied them. Here
Is gold bearing reef, forty miles iB
length, twenty miles in width, and