The San Francisco call., 1910-02-01
GOLD AND SILVER SHOW
BIG INCREASE IN MEXICO
Export of Yellow Metal Quad
rupled in II Years


mineral products of Mexico. In the
absence of more direct information
these figures are based on the exports,
and while all the products of a year
may not be exported in that year the
minister says that no large quantities
of ore, still less of bullion, are allowed
to accumulate in the country; hence
the estimates are approximately cor
rect.
The following statement shows the
exports of gold and silver during the
fiscal year ended June 80, 1903:
Dissertation Amount
Gold bullion $40, 544, $40
Gold in ore and other forms. ....... 1858, 145
Difference between gold acquired by
gold exported. .................. 5,7o3. $50
Gold consumed In arts (estimated) 133. 333
Total gold production 45.014 954
Silver exported in the form of ore.
bars .....,............ s73 741,S13
purposes ...D4.'.......'. i'.'.e''ol 1884. 7s4
Consumed in the arts (estimatedk 49, 645
Total production of silver S771o9, 742
In dealing with its increased produc-
tion Minister Limantour states that up
to 1891 the annual production of gold
in Mexico never exceeded s2.00o,000 of
the present currency In 1896 it
amounted to s10,000,000, but with the
announcement of the decree for the
reform of the currency in 1905 the
production has rapidly Increased up to
its present high value.
Although the quantity of silver pro-
duced in 1909 was the largest in the
history of the republic it's value was
sS,300,000 less than that of 1908, owing
the low Dricp of thp metal In
strong contrast with the tone of the
budget when dealing with the gold
production is that in reference to the
depressed condition of the silver In
dustry.
Referring to the present condition
Of the worlds silver market and the
outlook for any betterment thereof
Minister Limantour said:
THE fact that there were no large
stocks of that metal for sale some
months ago in the European, American
and Asiatic markets gave rise to the
hope that the silver crisis would dis
appear with the disastrous effects of
the drought then prevailing in India
and the exceptionally depressed con-
dition of trade in China.
unfortunately those hopes were not
realized, notwithstanding the fact that
the conditions of the Asiatic market
have greatly improved. The present
da niger comes from another quarter;
not from our immemorial customers
for silver, but from a new competitor
whose output within the last four or
five years has increased prodigiously.
and. what is more serious for us, is
produced at a very low cost.
The government of Canada decided
upon the construction of a railway
a region that was almost un-
known, and by mere chance during
the location of the line the discovery
was made in a comparatively small
stretch of territory, of very rich de-
posits of silver mixed with cobalt and
nickel The operation of these mines
was not started until the middle of
1904, and yet in 1906 the output ex
ceeded 100000 ounces, while in 1908
it rose TO more than 100000 ounces,
and in 1909 to more than S0,000,000,
nearly one-sixth of the worlds total
output.
"A noteworthy fact is that the silver
occurs almost always in the native.
state and on the surface of the ground
or at very slight depth below the
surface, so that the cost of mining and
treatment is considerably lessened. And
if to all this be added the richness of
the ore, which is truly fabulous, the
assay in many of the veins averaging
more than 5000 ounces per ton, it will
readily be understood how serious an
effect on the price of silver is likely
to be exercised by this enormous out
put, which increases daily and threat
ems to swamp the worlds markets.
The danger for Mexico is graver than
for other silver producing countries,
for many of our mines yield nothing
but silver, and their operations Will
not pay if the metal continues at a
very low price"
The following is a resume of the
total production of the mines in Mexico
during the fiscal year 1909: