The Birmingham age-herald., 1913-09-22
IS PRODUCTION
OF GOLD IN j. s.
ON THE DECREASE!
Fact That Mint Director Re-
ports Falling Off Is
not Conclusive
ALABAMA MAY HAVE
GOLD MINING FUTURE
Alabama Produced $4,000 Worth of
Precious Metal in 1912-Alaska's
Output Was Nearly Eigh-
teen Millions Dollars
nv HOLLAND


New York. September 21.--(Special.)-
large are the figures-in round hunioe's
yss, ,z3O 0Oo-which the director oil the mn.
gives as the money value of the faiine oil
in the production of gold i'll the ohi'eo
States in 1912 as compared with lsli, e'a'
the inference is made possible that the
Tinted States has reached the maximum
yearly production Of new solo. ooiiie u
the expert authorities ventured to say
year or two ago that the chances "eie
strong that gold production in the Dmseo
states has reached high water marx
when the money value of it in Single
year was approximately ssoooo'oOo. 30 aiso
one or two experts published statements
To the effect that the world annual
production of gold Is likely to decrease
rather than to increase from this time OH
There is not attainable at present any
reason for the rather large deficiency III
pofl production in 1912 1t may be oue
entirely 10 eppemeral causes. NO ihtii'ia-
t;ons have come to this city of any signs
of exhaustion in the large gold mines OIL
tho United states The presumption is
styong that the modern economic metnous
of profitable extracting the precious nie'-
ais from ores which two years ago "eie
not thought capable of working at
proflt would serve to increase soiu plo-
duction In this country. SO far as Is
known. there has been no important ue-
crease in precious mining operations hoi
have labor troubles, so far as Is known
here. caused the falling off OF the pro-
duction in the year 1872.
II. year hence, the directors of the
mint should lind gold in the year 1913.
as compared with the production OF lslz,
has taken place. then it may be reasonably
assumed that this country has. IN iact'
reached its maximum gold producton' un-
less discovery of new and rich mining
properties should make good the falhhs
off. Our magnificent yearly output oil soid
for the past ID years has been OF greater
consequence than is generally supposed III
placing the United States In a financial
position which made it possible for SIR
George Paish to say recently that this
country does not need long to be
borrower from other nations, and. fur-
tbermore TO intimate that in the COURSE
of a few wears we may become a heavy
lender to other nations
In the Immediate Circulation
A considerable proportion Of the new
gold mined in the United States and its
outlying territories finds its way into inn
mediate circulation. in that respect dif-
fering from the gold which is laid down
In London representing the product oil
the great mines of India. Australia and
South Africa. 1t was the fact that so
much of the new gold mined in the United
States entered Immediately into circula-
tion. chiefly in the form of gold certif-
Gates, which persuaded Lyman j Gage.
when he was Secretary of the Treasury,
that il would be worth while to try TO
force gold itself as circulating medium
upon the people He therefore was
strongly disposed to the policy of issuing
gold certificates i'm large denominations
only, and of paying out gold coin as
far as possible upon the obligations of
the government.
Secretary Gage speedily discovered that