Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-06-03
WORLDS SUPPLY OF GOLD
Total Estimated at Nine Billion
Dollars.
united STATES NOW HAS ONE.THIRD
Interesting Facts About Previous Met
. al Which More Than Any Other Sub
stance Typifies the "WorId's Desire"
Volume in America About Equal to
Ghis Cnuntrxts Total Graduation

al Which More 7 han Any Other SUB
stance Typifies the "Word's Desire"
Volume in America About Equal to
i; This Country's Total Production.
The: flood of gold into the United
lStates,' which ebbed somewhat after
reaching it's peak in. 1917, has set in
again and there is now probably a
greater supply Of this precious metal in
! the country. than at. any other :tine in
! it's history. This flow and what the
present stock. of gold in the United
States means in terms of the: world
/ supply*is the, subject of a bulletin is
sued from the Washington.,D c., head
quarters Of the National Geographic
Society.
".Gold, the aristocrat of metals. is
truly cosmopolitan" says the bulletin.
"and is found to greater or less ex-
tent in every part Of the world from
near the equator in Africa, Peru and
Borneo to the frozen ground of Alaska,
Finland and Siberia. Since the begin
ming OF history and doubtless long be-
fore any records were made gold has
largely typifed the worlds DESIRE and
it Is the only substance which has been
received by all races and peoples in ex-
change for other property, and services.
1t was in truth. therefore; long before
legislation by practically every civiliz-
ed country made, it formally So. the
worlds standard of value. -
Pouring In From 80 Countries.
TN the early months Of 1921 gold
reached the United, States from about
30 different. countries Much Of this
gold doubtless originated; in the United
States, and !:there was among 1t no
doubt metal from practically every
source of gold knownto the world. For
gold of the world constitutes practical
ly a single stock held temporarily in
many reservoirs; and as exchange
rates and other economic and financial
conditions change, 1t flows freely back
and forth across along trade routes,
weaving a veritable golden web tying
the nations together
1T is not at all improbable that
some of the gold that Is pouring in on
the shores Of the United States first
left this hemisphere. in Spanish gale
ons after it was torn. from the tenn
pies Of the Incas by the Spanish Con-
qulstadores., Another part may have
rested once in the treasures Of the
Great, Moguls; while beside it is gold
fresh from the mines Of Australia, the
Klondike or the Rand. For aside from
that which is absorbed in the arts or
iS lost or used in industry. practically
all gold these days finds its way to the
pots of the assayer and goes ITO make
up pawns in the worlds trade.
"Of what may be called the rela-
lively common metals; fairly close es-
Inmates of the quantity in existence
can be made probably only for gold
and silver. Even, for these two metals
satisfactory estimates of production
can be made only for that period since
the discovery Of America. There is
the gold produced before 1892, but it is
safe to, assume that because Of the few
sources and the primitive mining
methods the quantity In treasures and
circulation at that time was but small
fraction of the quantity since produced.
Nearly 10000 Tons Of Gold.
Since Columbus landed In America.
according to statistics assembled by
the director of the mint the world pro-
duction of gold through 1919 amount
ed to more than three quarters Of a
billion Troy ounces The estimated
amount is the equivalent of 29,44S.92
tons Of the precious metal. OCCUPYING
49,10085 cubic feet, and worth more
than seventeen and thrce-quarter bill
lions Of dollars.
This tremendous volume Of gold
must be measured by bigger unit
than the gold dollar II it's magnitude is
to, be appreciated. If gold were cast in
gigantic dollars one foot thick and
having diameter Of approximately 1S
feet inches, each would weigh 165.S5
tons and would be worth $lGO,000,000.
The world gold production since 1892
would make 1T such dollars and
leave more than half enough for an
other. If stacked. therefore, the gar
gantuas coins would form a tower IL
feet inches in diameter, more than
1T feet high. Since 1905 the average
annual world production would have
added about four and a half of these
dollars to the stack each year, but in
1918 and 1919, the latest two years for
which statistics are complete, the out
put would have made less than four OF
the 500, 100000 pieces each year.
Al Eleven Mile Gold Pavement.
IF the world production of gold
since 1892 were made into curb six
inches high and six inches thickf it
would extend for more than 81 miles
practically the distance between Wash
ax,l cnrnoI int0