The Washington herald., 1920-02-24
AND
| DEVELOPMENT
Precious Metal Strides
Made In the Last
Century.
|OSS IS ENORMOUS
consumption Has Increased
Beyond Present Produc-
tive Capacities.
'OSS IS ENORMOUS

100000 worth OF gold. Then the
Pidields in California were discov-
ed. and in four years production
I'd increased three-fold.
In 1850 the world production was
parly 100000. 900: by the end OF
century it was 100000. 900.
hile in 1915 the gold mines of the
orld reached a maximum produc-
on Of ,4es.o0O. 900.
Within about 20 years the output
gold has been multiplied by IT.
Z In the same period of time the
pulation has increased by only 30
cent. This being so. 1t might
ell be imagined that there would
Nv be more than enough gold for
worlds purposes. and that the
ecious metal would have conse-
hently deprecated in value.
As matter OF fact, nothing of
e kind has happened. In the first
ace, while the population OF the
orld at large has only increased by
bout 80 per cent during the period
ntioned, that Of civilized coun~
les has doubled. and more than
pulled. 1t is the civilized countries
at use gold as q medium OF eN-
ahge and as their basis Of cur
ncy.
Next. the individual wealth of
ese countries has increased enor-
ously, and therefore their people
fquire a great deal more gold for
inage purposes. Several countries
hich in 1850 were working on a
liver or paper currency have come
to the gold standard. the latest
these being Spain.
The third and most important
bint of all is the enormous amount
gold now used in industry. For
be arts such as jewelry. gold plate.
old leaf. for purposes of ornament
nd decoration, the world is now
sing three times as much gold IN a
ear as the whole amount produced
1s45.
reat Loss by Abrasion. Shipwreck.
Fire and HoardIng.
The waste of gold is another fac
pr which keeps down the supply.
few people consider how great is
be waste of gold by wear and tear.
b the course of one years ordinary
Sc. a f1ve dollar gold piece loses
'ne and a half per cent. of it's
Feight. The aggregate lost in this
lay by the gold coin throughout the
Forld amounts to many millions of
|ollars every year.
Then. every ship that goes to the
|ottom takes with her a certain
mount of gold. 1t may be a small
sunt or it may be millions Of
pillars. In addition. there is much
old lost every year through tHe
|uTping of stores and dwellings.
BESIDES all this, there Is the mat
pr Of boarding. In countries where
|anks are not found in every town,
fhe people who have gold hide or
Jury it In many cases they die
Fithout revealing their hiding
lace. In this way India alone
|wallows up several million dollars
Forth of gold yearly. China more
han this. while Africa is at present
bsorbing gold in this way at the
|Rte of more than five million dol
hrs a year. The money is paid as
Fsges to Kafir laborers at the
|hines. and by them carried away to
heir kraals. whence 1t never re-
|urns.
fonsumptIon In the Arts Exceeds
Mine Production.
In the year 1915 the production of
toId in the United States, according
tOl, 10000 in 1918 il was down
o s6S.0Oo.O 900: last year between
'55. 900. COO and S6O.0O0.0OO. Mean
While. under the mania for free
pending, the consumption of gold
n jewelry and other manufactures
$ increasing. In the first ten
months of the year 1918. the sales
4 jewellers bars by the United
;tates Assay Office ir New York ag-
sregated s31,523,s64. and for the
let ten months Of 1919 they aggre-
sated s4s.5sS.69s. Including sales
It other Offices of the mint service
md the melting of coin, thsr con-
iumption of gold in the Arts in this
country this year will exceed the
production. and this is one
Il the chief gold-producing coun-
ries of the world.
and Price of Gold In
Paris.
For the first ten months of 1919
here were sold by the jewelry trade
,f Paris 100000 pieces of gold and
,latinum jewelry and 23,3OO, 900
pieces made OF silver. In 1913 the
igures for the corresponding months
we're 100000 pieces in gold and
,latinum and 10000 900 pieces in sill
Fer. The increase in the weight of
he pieces of jewelry in gold and
blatinum sold amounted to 1850
|ounds. The price of gold increased
rom 3,400 francs (s6s0) per kiIo-
tram to $500 francs (s1.300), and
hat of platinum from 5000 francs
5. .eOoD to 5000 francs $500.
America has secured the Services
Il approximately 30 per cent of the
|xpert gold and silver workers who
Fere engaged in the business prior
% the war.
Rited states Becomes World. Gem
ter of Jewelry Trade.
VIRTUALLY the entire world today is
dependent on the men now in Amer
"a for its oriental jewelry. Among
he artif1cers who have come to the
nited States and now are settled
II is believed in New
ork are the cleverest of the work.
ben who for years manufactured in
EUROPE the antique" mountings
|hich have been so much in de-
|and. In Maiden Lane, New York,
lone, there are more than SO of the
|everest of the designers at work.
tany of these men were in The
etherlands or in Belgium. some
ere in Bulgaria a few in France
|nd Switzerland before the war.
While the presence here OF possi-
1y $50 additional gold and silver
niths may not seem significant,
lose who know realize that they
ave added millions to the country's
toductive value and that for the
me. at least America and not Eu-
pc is the great center of that in