Evening star., 1935-06-02
The Worlds Growing Gold Pile
BY FREDERIC J. HASKIN.

II all the gold produced in the world
since the discovery of America were
cast into one cube, the edges would
measure less than 40 feet. The cube
would be worth nearly $4,000, 600, 900.
How much was produced before 1892
is not a matter of record, but 1t is
not believed to have amounted to
much compared with the later pro-
duction. Especially impressive Is the
fact that half of the entire cube has
been produced in the present century.
In the case Of many products. ac-
celerated production results in an
oversupply with consequent declining
value. This is not true of gold. The
value remains static and. it appears,
the world cannot have too much.
Unlike other products, gold is not used
up. Being elemental and not consum-
able in the ordinary sense, it remains
intact. 1t may retire into private and
even secret ownership, but it Is in the
world and exercises an effect.
A paradox of the worldwide de-
preston has been the increased ac-
tivity in gold mining Gold in terms
Of goods 1t will buy has increased in
value. Or, to put it another way,
while gold has remained the same in
value, the price Of other things has
declined. Thus, 1t has been practica-
BILE to work low-grade gold deposits
at profit because the cost of labor
of machinery and supplies has gone
down. This has meant that while so
many other industries have been in
the doldrums, gold mining has
doomed. Inasmuch as to have any
industry active and prosperous has a
reflected effect on other industries,
gold mining is regarded as having
served as an important lever In rails
ing the world out of depression.
Gold Is widely distributed over the
face of the earth. No one knows
where it all Is In making geological
surveys for petroleum, coal, iron and
many other minerals it has been
demonstrated that they are found
only in certain types Of formations.
Not so with gold. Lode gold or placer
gold may turn up in strange and un-
expected places, in fruitful country
and desert. 1t is found in the rugged
Rocky Mountains but also in the soft
tlee-clad hills of County Wicklow in
Ireland. 1t Is found in valley stream
beds in some cases far from the hills.
Russian Production Of Gold.
The extent to which gold supplies
have been increased Is decidedly i'm
pressive. In 1880 the production OF
the principal countries Of the world
was 20, 1886 900 fine ounces. This was
worth about SALT 900 900. Each year
of the depression thereafter there was
an increase until last year the pro-
duction reached 7,400. 900 fine ounces,
worth about S548,000 900.
The Witwatersrand in the Union Of
South Africa continues to be far and
away the leading producing re-
gion. In 1884 the Rand produced
10 .480. 900 fine ounces. For years the
United States had come second in
rank, but now has lost that position.
One of the great surprises of the de-
pressed period was the manner in
which the Soviet Union came 10 the
fore as gold producer. Gold has
been mined IN Russia time out OF
mind, but not on the huge scale now
assumed. Under the Cgars there was
spasmodic gold mining largely of the
placer variety, but under the Soviets
the industry has taken up modern
methods, introducing machinery. Also
new deposits have been found. The
Russian government now spends more
than any other country in the world
on its geological survey, and rich
rewards have been reaped
In 1880 Russian gold production
amounted to 1,434,000 fine ounces,
worth about s28,6S0, 900. In 1884 this
figure had mounted to 4,224, 900 fine
ounces, worth s84480 900. Russian
geological and industrial spokesman
assert that within year or two the
Russian production will be up to
sl50,000,000 a year. But even the