The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-07-15
MAY Be.
SECOND IN
GOLD
U. S., Next to Africa, chaI-
lenged by Mines Of
Dominion
BY International News Service.

# 8
NEW YORK. July 16.--Canada by
1926 will dispIace the United States
as second among the gold producing
countries Of the world, In the opinion
of Louis p. Huntoon, New York
mining engineer and q former pro.
lessor of mining and metallurgy In
Yale University. Canada is now
third. Africa ranking first.
Huntoon, after prolonged study
of the Dominion's gold districts. re-
ports his conclusions in the official
Journal of the American INSTITUTES
OF Mining and Metallurgical Engit
neers.
Canada's output, he says, Is in
creasing rapidly, while in the United
States since 1915 there has been
rapid decline. For the last eleven
years the United States has pro.
duced 1871 per. cent of the worlds
production, the past years total,
now established at $51, 900 900, being
about 80 per cent OF that for 1918.
Rapid Increase"
During these eleven years. saws
Professor Huntoon, ''the Dominion
of Canada has produced As per
cent Of the total production of the
world; in 1922 the production in.
creased to 81 per cent. This rapid
increase In the gold production Of
canada, and rapid development Of
new gold deposits which as yet have
not been equipped with mills OF
sufficient capacity to handle the ore
developed, will have an important
bearing on the worlds production.
In view Of the producing mines,
areas being developed, areas being
explored and favorable areas to be
explored. It is my opinion that
within the next five years the pro.
duction of the Dominion win *.
coed the present production Of the
United States.
The new gold mines promise
permanency. They are lode 81
vein deposits; they have been de.
veloped to q depth of $500 feet:
the gold content has not decreased
with depth; and there Is every in.
dication that they will continue to
great depth. The permanency If
the deposits with depth is based.
not only on the, present depth and
values, but also on petrographic
analyses of ores from many of the
producing mines and non-produc-
ing areas"
Economist I'm Error"
Saving that an analysis of the
worlds production of gold shows a
steady annual decrease since 1915.
Huntoon asserts that John NAV.
nard Keynes, the English econo.
mist, is in error in. holding that a
quarter of a century has passed
since the discovery Of an important
gold deposit.
Within the last ten years, he
points out, two very important gold
producing areas have been deyel.
oped In Ontario, in the Porcupine
area the annual production of the
Hollinger Mine for the last four
years surprising that of the Home
stake Mine of South Dakota.
The largest annual producer OF
gold In the United States is the
Homestake. which in 1922 produced
$6,2S5,S17, in comparison with the
Hollinger. which produced $12,274,-
lis. The annual production of the
Homestake. for several years past
sAtA - va @~e4N oAA5AtCAJ 4A CACGS6 VI
Sc, 000,0OO
Africa First.
Africa for many years has held
first place in gold production. Since
1912 its annual production has
been slightly over $500, OOO, 900,
equivalent to 49.T per cent of the
worlds production. It's annual pro-
duction since 1912 has remained
fairly constant. Last years pro-
duction is estimated at approx.
mately SOS, 000, 900.
In a forecast for 1924, Huntoon
estimates that the production of
the United States will remain sta.
tionary at 100000, while that
of Canada will rise to $50, 600, 900.
Canada's production last year was
$25 ,294,076. In 1922 1t was $685..
116,050, compared with $48,S49, O96
for the United States; in 1921 it
was $19,14S,916, compared with a
United States production of $780,.
O67. 307.