Evening star., 1932-05-15
GoM-Wheyp to FmdNorv of 1t

proximately $2o.o0o,o0o worth. Before this
time the chief sources were the Ural Noun
tains in Russia and gold brought from the
Andes by the Spanish Conquistadores.
During Queen Elizabeth's time gold was
mined In the Lead Hills of Scotland as well as
in the neighborhood of the tin mines in Corn
wall, but the principal sources Of the metal
were the rich mines of Nagy-ag. In Hungary,
which produced some of the beautiful gold
crystals to be seen at the Academy of Natural
Sciences.
This scarcity of gold kept the price up,
and 1t became recognized as the standard by
the richer nations Of the world Silver dropped
of in value as new. immense deposits were un-
covered, but because Of the lack of gold and
the unpopularity Of paper money, it retained
strong place In the monetary systems Of most
nations.
"As late as 1924 the chief production Of
gold in the United States was confined to
the Southern Appalachian States, Georgia,
North and South Carolina and Virginia, from
which fields came the bulk of the gold coined
In the Government Mint in Philadelphia. So
important was this source Of gold to the
infant Republic that the Government estab-
hshed branch mints ct Charlotte N. G. and
at Dahloneea, Ga, IN 1887.
The lrst great flood Of gold in the world
came from California where production
began n is4s and was soon followed bg
California alone produced 10000 900 In gold.
three and one-haH times Is much as the
entire worlds supply previous to the discovery
Of the precious metal IN that land i've years
previous
"But by this time the gold standard was
firmly established and the new wealth had the
effect OF helping to develop the growing Nation
rather than to reduce the value Of the metal,
as might well have happened had these dis
covertes been made prior to the beginning Of
highly industrialized and machinized era
mot only America but also the entire
civilized world was In the throes Of COM
mercial and industrial expansion and so able
TO absorb the new wealth without diminishing
its value
But the food of the yellow metal from
California and Australia was small a
compared to the discoveries made on Tho
Rand, near Johannesburg, South Africa,
As years ago. Even today this immensely rich
field yields about So per cent of the worlds
good production.
Alaska, and later Canada, added their rich
mines to the production Of gold
To-day believe that Canada offers the.
best field for further discovery of gold. As the
railroads push northward across the muskeg
newer jumping-on places for prospectors
result. The many lakes have furnished land
ing places for prospectors who have taken
to the air and are thus able to penetrate in
few hours remote sections that were we'll
high impcnetrable TO man and beast
Undoubtedly there Is some undiscovered
gold In South America, but those deposits
win probably not be uncovered and worked
for some years to come, owning to the un-
friendly attitude Of the natives and the wild
inaccessibility Of the country
Despite the large shipments of gold from
America and England to boarding nations In
Europe during. the last few months and the
faiifngaon I'd production IN gold In some 81
the larger nelds cannot get excited about
the alleged shortage of gold il the world. nor
believe thAt condition win exist within
few years 20 acute that this metal viii cease 70
~ am Inclined to class those aiarmists vsth
's.>ss.ex eH1eso stEsrz -rf fs3f sass .sssss
Continued on Thirtesmth Paoe