Catoctin clarion., 1921-07-14

Gold, the arlstocrat of metals, Is
truly cosmopolitan" says the bulletin.
and Is found to a 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 typitied the worlds DESIRE
and 1t is the only substance which has
been received by all races and peoples
in exchange for other porperty ami
services. Ii was in truth, therefore,
long before Legislation by practically
every civilized country made it formal
ly SO. the worlds standard of value.
Pouring in From 80 Countries.
"In the early months of 1921 gold
reached the United States from about
thirty different countries. Much OF
this gold doubtless originated in the
United States, and there was among
it, no doubt, metal from practically
every source of gold known to the
world. For the gold of the world CON
Il
temporarily in many reservoirs; ana
rs exchange rates and other economic
and financial conditions change, ii
flows freely back and forth and across
along trade routes, weaving Neflta-
BILE golden web tying the nations to-
gether.
ut Is not at all improbable that
q a.. Il "A hat &c, nu n
the shores of the United States first
left this hemisphere in Spanish gal
Icons after ii was torn from the tenn
pies of the Incas by the Spanish con-
quistadores. Another part may have
rested once in the treasures of the
Great Moguls; while beside ii 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 to make
up pawns in the worlds trade.
"Of what may be called the relative
ly common metals fairly close esti-
mates of the quantity in existence can
silver. Even for these two metals
satisfactory estimates of production
can be made only for the period since
the discovery of America. There Is
nothing on which to base an Idea OF
the gold produced before 1892, but 1t
is safe to assume that because of the
few sources and the primitive mining
hN ity in,
circulation at that time was but
small fraction of the quantity since
produced.
Nearly 10000 Tons Of Gold.
"Since Columbus landed in hmeri-
ca, according to statistics assembled
by the director of the mint, the world
production of gold through 1919
amounted to more than three-ouarters
of a billion troy ounces. The esti-
mated amount is the equivalent OF -
1882 tons of the precious metal, oc-
cupying 49,lOO.S5 cubic feet, and
worth more than seventeen and three
quarter billions of dollars.
Not all the gold produced since the
discovery of America Is available.
Much has been used, destroyed or lost,
and much in the form of jewelry or
plate is out of circulation and not In
treasures. The best available estf-
mate of the gold in circulation and
in treasures places the amount at 3d.
OOOO000OO or enough to make 9O of
the foot-thick dollars Just about
third of this world treasure is now In
the United States, and this is not far
below the amount that has been yield
ed by the mines of the United States.
"The United States leads all cOun-
tries and even some continents in the
aggregate amount of gold produced
-+S3,913,OOO, 1000. Africa and Austral-
ia have each produced more than three
and quarter billion dollars worth,
South America more than two billion
and Russia and Siberia more than one
and half billion. For a number of
wears the Rand section of the Trans
raal, South Africa, has led all gold
producing regions in annual output,
producing around 40 per cent of the
world OUTPUT"
irrigation in Africa.
The Kamnaszie irrigation scheme,
South Africa, has been extended to in
clude some 2S,OOO acres at total cost
of $4.050,000. The dam will irrigate
what Is claimed to be one of the richest
aluvial Arrears in the Union, having q
length Of about forty miles.