Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-19
SUPPLIES OF GOLD
ARE ON DECREASE
Depletion of Mines Has Re-
suited in CurtaiIment of
Precious Metal.
BY J. r. BRACKET,
Associated Press Business Writer.

NEW YORK, April 18.-The gold
supplies of the world are running out
this despite the seemingly paradoxical
fact that monetary gold stocks of the
level in history, 81 ,702, 900 900, accord
ing to the latest condition statement
of the Federal Reserve Board.
Despite the fact that gold production
increased from 19.500000 ounces in
1929 to 20,500, 900 in 1880, gold mines
everywhere are being depleted. The
1880 increase represents almost solely
the increased effort to produce COM
modify whose. own price remains fixed
by law, wf'ia the price of the things
needed to produce it goes down--in an
economic depression. '''
Affects Credit Situation.
The United States share of the mon
etary gold represents almost half of the
total world gold stocks of SIC, 200, 000, 900
France is next, with well over $4,000
100000, and England third, with about
$725, 1000, 900.
The predominance of gold supplies in
America, with its consequent stringent
effect on the credit situation of other
countries, has aroused wide protest,
many feeling that gold must be distrib-
uted or its flow directed, inasmuch as
supply from mother earth.
From 1891 to 1900 gold production in
creased at the rate Of o. per cent; in
the next 10 years at the rate OF 30 per
cent and in the last 20 years only about
las per cent. The great Rand field in
South Africa produces more than one
half the worlds supply, and that field
appears near the crest of production.
Mining engineers believe that output
vxyill off oct in
The gold delegation of the League OF
Nations believes production is almost
certain to drop materially everywhere
Canada's production has increased
from about $4,000, 900 in 1914 to more
than SAC, 00O, 900 in 1880. Probably it
will continue to increase, but it is not
likely it can assume the place of the
Rand.
Aside from Russia. the world has
been we'll explored for gold-even by
airplane and radio divining rod-but
large new deposits have not so far been
found.
Ore of low gold content probably will
be more exhaustively mined as methods
of productions are refined making
profitable mining from bad ore. But
this and other alternatives show no
promise Of maintaining the yearly in
crease Of supply at 5 per cent of the
supply, W1AGils 10
barely SUFFICIENT for the increase in
credit, which business is certain even
tually to demand.
Gold Production.
Gold produced in the last 435 years
has an estimated value of about $21 ,000,-
100000, and the world output reached
its zenith In 1915. Since then there
has been an increase, but it's very slow.
The idea of some sort of international
control Of gold movements has been
current for some time. The Bank of
International Settlements, set up pri-
marily to take care of the transfer of
German reparationS to Germany's erst-
while foes, is often proposed for that
task,
George E. Roberts, vice president of
the National City Bank and noteworthy
gold expert, holds that there is need
for a more general understanding that
no country has anything to gain by
piling up against another country which
must be settled in gold. 1t is to
the interest of all peoples that the
normal equilibrium in trade and capital
shall he maintained