The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-07-12
THE RAND'S GOLD SUPPLY.

The gold production Of the Rand, il
South Africa, for the six months just
closed amounted TO $7T690,00O thai
is, counting the June production al
10000 fine ounces, as the primary
estimate of the Kafir houses puts it.
This is at the ratc of upwards of
Sl55,O00 600 a year. and with the in.
creasing production Of the Rand. il is
likely enough that the production for
the present year will run very close to
/ S160, 100000
BY reason of the enormous gold pro.
duction of the world in the last ten
years, the gold holdings of the Eu-
ropean banks have reached the enor.
nous mass of $500, 900, 900. The great
est holding is that in the Bank Of
France, amounting TO S72O.0OO 900.
The Bank Of England holds over 5000
100000: that of Germany, $22O.OOO.-
900; Russia s625 900 900; Austria
Hungary, S23O,000,OOO; Italy. $500
100000; The Netherlands, $4,000, 900
And these holdings are increasing all
the time, The United States treas
.ury holds the greatest amount of gold
ever gathered together in any ono
place in the history Of the world. run
ming close TO 5000 100000 The total
gold production of the world for the
present year viii run we'll up toward
$450O00,O00. 1t was $427,OOO,OOO last
year.
The enormous production Of the Rand
makes 1t the marvel of the world Some
time ago it was estimated that the
Rand reefs would be worked out in
seven years. but this estimate is set
aside by recent developments Tests
along the reef for distance of sixty
miles, according TO the Financier. and
to a depth Of 1000 feet. show
that there can be raised 10 the surface
25,OOO,OO0 tons of rock annually for 50
years; but that amount is far in cx.
cess of the rate Of extraction that has
thus far prevailed. At 50 per ton.
which may be reckoned upon, since the
tests demonstrate that the average
quality of the ore holds out to the
great depth named, the gross receipts Of
TINS tremendous tonnage would be
about $6,00O0Oo. 900. Allowing the
expenses TO be three fourths of the
gross value, the profit would he close
upon Sl,50O,00000O Whatever NAV
be said Of these estimates, it is certain
that capital is ready TO invest. and is /
invested, on this basis. And other gold |
discoveries IN Africa are of such |
promise that even should the Rand .
give out after being worked for ffty
years. there would seem to be little
danger of any dminution in the gold
production Of that continent. Else
where throughout the world the gold
production is on the increase, and tborn
are those who have put forth the
claim that there is more gold in tbe
Mountains of western China than anv.
where else IN the world If the Chi
lcse Empire should wake up TO the
Importance of allowing the cxpIoita
ion OF mining IN that region. and il
8 probable that 1T will do so within
ifty years. all previous product is
likely to be eciipsed AS it is. there is
% much gold produced now that it is
mystery as to what becomes of il
III, And those who argue that il is
he relative fall in gold, rather than
ne absolute increase of prices, that
makes the apparent high cost of living
eem so much increased over the past,
rave good deal of foundation for
hat belief