Smyrna times., 1933-08-02
GOLD BIG ROLE
IN MANS LIFE
Used AS Money 1t Sways the
Destines of Nations and
Advances Civilization
HAS OTHER USES TOO

w HdSulHSLOn.-Ine intricate part
that gold has played in the affairs
of civilization, and something of the
romance that clings to the yellow
metal, are disclosed by Frederick
Simpich in a communication to the
National Geographic society.
When gold was used merely as
a personal adornment, in plate, or
in the decorative arts" he writes,
1T swayed the destinies only Of
those who possessed 1t, as in Peru
and Mexico, or when Rome paid
chariot loads of it to the barbarians
to save herself from being sacked.
But when gold came into wide use
as money, to measure wages, prices,
and the cost of living in all nations,
then it began to influence the whole
world. Tariffs, the gold standard,
foreign exchange and debts, ar
bitrage-gold brings them all into
the picture of international rela-
tionS
Much Disappears.
'Only about half of the worlds
gold production since the discov-
cry of America can now be definite
ly located.
Since 1912 the world has mined
$22,413,757,117, as officially reported.
Of this, about 50 per cent has been
produced since 1850.
But today the worlds nations
hold as monetary gold stock, only
about $11, ,94O,OOOOOO.
THE missing ten billions or more
went, much of it. just as in olden
times. In 1881. for instance, of,
roughly. $49,OOO,OOO of gold mined
in the United States alone, about
$29,0OO,0O0 was consumed in indus
try. In America today, it is the
gold-beaters and the dentists who
eliminate much gold from circula-
tion.
"Europe's gold when Columbus
first sailed westward amounted to
less than some present-day family
fortunes. Part Of this Europe had
mined, part she had plundered from
other lands. Some of her gold SO
gained was drained off in trade to
India and the Orient.
India. In time, became the
worlds greatest gold hoarder. The
treasure sink of the world she has
been called. Just how much gold
is still hidden In the secret vaults
Of her princes, nobody knows; from
1873 to 1890, however, the records
show that India imported about 81
SOO.OOO,OOO in gold.
In the monetary system OF the |
United States the gold dollar, though I
not now made, can still be called
the unit Of value; 1t weighs 25.S
grains and is 09OO fine.
Gold coins of SIS, $40 and $50 are
now minted, known as half eagles.
eagles. and double eagles. Among
workers In the mint, the eagles pic
ture is always called The Goose.
One thousand dollars of United
States gold coin weighs just 1855
pounds avoirdupois. and at the mint
7 found 1t. in bar form. an easy
handful.
Increased Since World War.
"Since the World war began the
world has swiftly increased its ef-
fective stock Of gold. This has. in
fact, grown by about $500. 100000
Or 140 per cent. in the last 10 years.
More gold is being mined, less has
been used recently in the trades,
and private hoardings are being sur
rendered in India. These are the
chief causes OF the increase.
Growth in the worlds gold since
1922 has been largely due to In
creased output In South Africa and
Canada. Since 1929, however, our
,old mine yield has slightly In
creased, All gold mined In the
world in 1892 is estimated now at
;46O, 100000.
Most of the great gold strikes,
'ay mining engineers, have prob
Ibly been made. The world has been
nore thoroughly prospected for gold
han for any other metal. II may
,e vain. then. to hope for another
erfes of gold finds as rich as was
ripple Creek. the Lena, the Rand,
n the Klondike.
"Yet, from year to year gold
trikes of varying Importance are
onstantly recorded. Exciting tales
f rich strikes, dazzling fortunes ex-
osed by one lucky stroke of the
lick, the spirit of adventure and ro-
nance that clings to the gold hunt
RS career, leaves man indefatigable