The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1917-09-18


Soon after the discovery of gold In the
| Kiondike region, the late Maurice L.
Muhlman, one of the leading authorities
on the production of precious metals and
for years officially associated with the
| United States subtreasury branch in
New York, said that, leaving Alaska out
OF consideration, he was inclined to think
that all Of the productive gold mines Of
| the world had now been exploited, al
| though some of them We're not worked to
| their full capacity. He estimated that
within few years the world might look
| for an annual output of gold Of the value
1 of approximately $500, 100000
A day or two ago there came from
Washington an official statement which
reported that the gold production of the
| entire world in the year 1916 was of the
value Of $47o0oo,000 That amount was
only 100000 less than the money value
| OF the gold mined in the year 1915, ana
the falling off is explained by the fact
| that the United States did not mine quite
| as much gold In 1916 as in 1915. Since the
war in Europe began the gold mines OF
the world have produced little over
| $l0OO,0O00 900 in new gold OF this, Ger
many has received not / cent directly,
and only a small amount, relatively
! speaking, through the channels of trade.
! England received considerably more than
one-half of It, and in this fresh supply
| Of gold is to be discovered one of the
reasons, perhaps the chief reason, why
England has been able to maintain high
credit while financing her own necessities
and considerable part of the needs of
| her European allies. England's fresh gold
received every year supplemented by the
| enormous mass of foreign securities,
which represent loans made by the citi-
| zens of Great Britain to other countries,
in a great measure explains her financial
strength. It is this strength which has
| made 1t practicable and even easy for
Great Britain to secure, on the instant,
| large amounts Of credits or funds in the
| United States.
| Africa, including Madagascar, in the
| year 1916 dug out of the soil gold of the
| money value Of $220OOo,00O and North
| America, including Alaska obtained
| fresh gold of the money value of s129, 0O0,-
900, about s$95 100000 Of which was obtained
| from mines over which floats the flag Of
the United States
| At the time of the war in South Africa.
| gold mining operations were inevitably
seriously impaired. The owners of the
mines were persuaded by men Of science.
and especially by John Hays Hammond,
that certain intensive methods of mining
] would make it possible to bring to the
surface from great depths greatly in
creased gold production. The managers
| sent to the United States little company
Of four or five of their engineers with
| instructions closely to examine Amer
lean made mining apparatus, and if the
inspection was satisfactory, then to ne
/ gotiate for the purchase of large
| amount of this apparatus.
| The engineers visited great manu-
featuring plant at Easton. Pa, and while
there said to those who were in control
| of this industry that after the war in
South Africa was ended the yearly output
| Of gold In the South African mines
would be greatly increased. and in the
course of few years would surely be
of the money value Of $2O0,0OO,0O0. This
was regarded as a somewhat extrava-
| CANT prediction, in view Of the fact that
| when the prediction was made the aggre-
| gate output of all of the gold mines of
| the world was of the value of approx
mately $250,000,000. Nevertheless, this pre-
diction has been abundantly justified.
The modern methods taught by men OF
science and the vigorous operation of the
South African gold mines so greatly in
creased the worlds yearly production that
| in the year 1899 it was of the money
value Of 1911. 900. Seventeen years later
| it was Oh the money value Of s47o, 00o.
Part of this increase is explained by the
output of Alaska, part of it reflects the
| highly intensive methods which have
| been adopted by the mine owners Of Cali
| fornia. This process has enabled Cal
| fornia to MAINTAIN first rank among
| American states as a gold producer, Cal
| ifornia, Colorado and Alaska together
having brought from the mines little
| over one-half Of the gold taken from the
American mines in the year 1916.
! Science prospecting and the great inn
provements in transportation make it in
evitable that the gold production OF the
| world will steadily increase. 1t is proba
bly, true, as Mr.. Muhlman once said. that
the best gold producing properties OF
| the world have already been discovered,
| but since he spoke there have been won
derful successes secured by the men Of
science whereby very low-grade gold ore
| can now be worked to handsome com
| mercial profit
world Of finance and OF our large indus-