The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-06-08
Mines in the World are Turning Out
1000, 100000 Pounds of This
Metal Every Year-supply
Multiplied by II.
rs NOT DEPRECIATTNG
This Valuable Article is Used as Cur
rency, for Jewels, Purposes of
Ornament and Decoration
Lowers Amount.

In 1916 the whole world produced
less than 100000 pounds worth O
gold. Then the California gold field.
were discovered and in four years
production had leaped to $4,000, 900 &
year. e.~~.
In 1860 1t was 24,00O, 900; by tn.
end of the century it was 10000 900
while today the gold mines of the
world are turning out very nearly
l00, 100000 pounds worth of golc
every year. -"
Within about seventy years the
by seventeen. yet in the same period
of time the population of the world
has increased by only ninety pei
cent, observes a writer in London
Tit+Rits. This being SO, it might well
be imagined that there would now be
more than enough gold for the worlds
purposes and that the precious metal
would have consequently deprecated
in value. e..
AS a matter of fact, nothing Of the
kind has happened In the first place,
while the population of the world at
large has only increased by about
ninety per cent during the period men
toned, that of civilized countries has
doubled, and more than doubled. 1t is
the civilized countries that use gold
as medium of exchange and as their
basis of currency
Next, the individual wealth of these
countries has increased enormously,
and therefore their people require a
great deal more gold for purposes of
coin. Several countries which in 1850
were working on silver and paper
currency have come mp to the gold
standard. the latest of these being
Spain.
The third and perhaps most import
ant point of all Is the enormous
amount Of gold now used in industry.
For the arts such as jewelry, gold
plate, gold Leaf, for purposes of orna-
ment and decoration. the world is now
using three times as much gold in a
year as the whole amount produced in
! 846-that is, about $4,000 600, pounds
worth.
The waste Of gold is another factor
which keeps down the supply. Few
people consider how great is the
waste Of gold by wear and tear. Pack
1000 half sovereigns in bag and
send them on journey of a thousand
miles; at the end of that journey one
half sovereign's weight Of gold is
clean gone. It is in the shape of dust
adhering to the inside Of the bag.
In the course Of one years ordinary
use a sovereign loses liz per cent Of
its weight Careful calculations go
to show that the annual loss which
actually takes place by wear and tear
of gold coin can be no less than 4,000.-
900 pounds of sterling. All this prodi-
gious sum is dissipated into fine dust
and utterly lost 4
Every ship that goes to the bottom
takes with her a certain amount OF
gold. 1t may DE only a few pounds
worth or-as in the case of the ia
nous Lutine-a million may be lost
in a minute
Every fire that occurs means de-
struction of gold, and there is never
a minute, day or night, when scores
Of human habitations are not burning.
London alone has 2,4Oo fires yearly.
Besides all this, there Is the matter
If boarding. In countries where banks
are not found in every town, the peo-
pie who have gold hide or bury it.
In many cases they die without re-
yealing the secret of the hiding place.
IN this way India alone swallows up
more than 100000 pounds worth Of
gold yearly. China more than this
while Africa is at present absorbinG
,old in this way at the rate of more
han a million pounds a year. The
money is paid as wages to Kaffir la
,orers at the mines, and by them car
led away to their kraals, whence it
lever returns.