Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-08-14
OUR NATIONAL WEALTH,
The Abrasion of Gold a Source o
Great Loss Pecuniarlly.

SWcrS to the query, W nat pttoiie9 VI
the gold?" But it doesn't account for
the actual vaporing of the yellow
hoard.
Every few years some noted eeono-
mist wrings his hands and cries eX-
citedly. There's gon to be an over
production of gold the royal metal
Will be demonetizcd. Yet. III the face
of this calamity the nations OF the
earth continue to bid for the aurlter-
Gus pelf All of the mines of this tur-
bulenf planet output approximately.
$400,900,000 of the yellow metal year
~. This includes the placers of
Alaska and Orovillc, the todes of the
Cascades, Sierras aud Rockies, the
reefs of the Witwatcrsrand-and every
thing and everywhere else. During the
last decade the aggregate yield has
been $4,000, 100000. and from the date
of the discovery of America by Column
bus right up to the dog days of 1911
the mines of the entire world have de
livered $13,000.0 zoe, oa0=-a sizeable sum,
but still no more than the deposits OF
the several thousand American banks.
Plainly there isn't enough gold To GO
around. But that isn't the worst of
the situation Mans vanity tincIudng
both sexes impartiall91 consumes fully
three fourths of the supply, which
finds its way into jepelry, gold leaf,
dentistry. etc.
Ii this gold could Toe conserved it
woud be different, but Dame Nature
eXaets a heavy toll and the precious
substance slips through our fingers,
even apart from its purchasing power
Abrasion is the answer, for, while
gold can be beaten into thinner leaves
than any known substance in all the
other realms of creation; although it
can be drawn into the finest wire and
in the melting pot gives out the regal
purple light, it is subject to continuous
loss through contact OF friction.
Occasionally an excited person brings
up particles Of the elittering dust"
when he visits the old pump and draws
water, and straightWay he believes he
has found (, bonanza, 50 potent and
subtle is the grip OF the metal on the
human imagination In many Of the
streams in Idaho the Hecks of flour
gold impel restless spirits 10 new en-
beavers, but the material they see is
| made up of such infnitesimal portions
there is no process known that would
gather these speeks at proft.
Tile reason Ehcle sam issues nice,
yellow treasury notes is to live up to
his -~.eas of conservation. The paper is
just as safe, because II is secured, dol
lar for dollar, by the metal that SUM
bers in great steel vaults. But the
paper, when worn out Is easily and
cheaply replaced. Ne goi that wears
has lost part of it's total that can
never be replaced except at the cur
rent figure ef $20.G7 an ounce This
figure is 4 basement bargain that was
marked down from So" but is the
unwayering International schedule
When gold can buy more of the com
modities its price virtually advances;
when il buys less it's value has lowered,
but the market for the metal in it's
fine state is always sz067 troy ounce.
In the last 40 years the earth has
yielded up about 10000 short tons Of
this root of all evil"
To preserve the gold coins in circula-
ton as far as possible the milling
process is adopted. Small objects have
greater proportionate surface than
ieii DpJtiAc' HtHEt, bS idiSiHS RIM
around the circumference and corruga-
ting The edge of this periphery, a nom
inal part OF the metal is exposed to di-
rect contact and wear. Misdireeted
genius invented the sweating" pro-
cess long ago. This is accomplished by
placing number of gold coins in a
ehamois sack and then shaking the
bag The metallic discs, coming into
violent aud continuous contact with one
another lose some Of their substance,
and practice has demonstrated that the
amount is sufficiently lucrative-unless
the malefactors are detected. Then
they're UP for felony!
When banks are called OH to settle
international or interstate trade bal
anees they ship gold bars. or specified
fineness. weight size and style, be-
cause the bars present smaller relative
surfaces than coins. although. despite
this precaution. there is always a
marked loss in shipment.
A few Illustrations will show the
elusive qualities of the yellow lure:
In Colorado Springs. Colo. is located
the reduction plant Of the great port
land mine Of cripple Greek, that has
outputtcd over $30.000.000 in gold since
lSF2. Every mechanical and chemical
cortrivance known for the treatment of
the especial kind or ore Gellurium)
has been installed, but there is never
theieSS Il waste. Some years back it
was discovered that sawdust would
preclpitate gold held i'll solution, and
the "tailings' lore pulp from the vatsl
are passed over large outdoor pit
filled with waste from sawmills Sew
eral Thousand dollars is the annual re-
ward for this vigilance
In 1906 the Economic mill in Squaw
guleh, in the Cripple Greek district,
was destroyed by fire Immediately
enterpriSing mining men sought a
lease on the debris, but tests proved
the ash to he qo rich in gold liti,,ot;,,