WASTE OF GOLD IS HEAVY.

Alexandra Herald and Central Otago Gazette, Issue 386, 1 October 1903, Page 6

WASTE OF GOLD IS HEAVY.

Udj and Wear of the Preolou Hetal Atauauti to u. Million Dollar* a Year. It i* fortunate for the world that new gola" mines are being developed st ?. rnpid rate; otherwise there would Buoo '•■ ■ a : a mine in the precious met* el. The loss by the wear of gold coins is in itself of much consequence. A competent statistician estimates it at lyi per cent, of the total amount in circulation, or $37,500,000 for gold and slher combined. On this basis it may be calculated that the annual loss which aetftally takes place in gold (done by v.enr and tear is about §20,f.uti.ryo. Goid is lost in many other ways, vast quantities are hoarded (es-ptiL-.i-Uy in foreign countries), and a c r,i-o portion of this is subsequentt. trove which comts v ! '-,e. bu- jc-ar. iheu j. i: _. . -•.;.-..;_. re.-;- .:.; out a smail part of that wh:i hj ..as been concealed. Every ship Which founders at sea takes a certain amount of gold with it, which may amount anywhere from a few dollars to millions, if it happens to be laden with the preeiouß metal. The amount of goi;i required annually in the arts is estimated at 480,000,000, and, as this calculation was made a few years ago, when the annual production was about $1X0,000,000, it follows that the amount used in this way is about double that which is used as currency. Students Sorry They Signed. Columbia university students are rebelling against the resolutions in regard to hazing thty were made to sign by the faculty last spring, says the New York World. During the week, :he various classes have met and decidtd to place stringent rules orer the Irishman body because of the curtailment of the upper classmen's privileges. President Seth Low, in an effort to forestall a repetition of last season's occurrences, has addressed a note to each of the undergraduate body in *bieh he calls attention to the spirit of the resolution ihey signed and asks their continued cooperation. She—"l lore thss excessively hot weather! Don't you, Mr. Boreham?" Hs—"No! I can't stand it. I shall go away if it continues!" Sh»—"l do hope it wiji!"—Punch. The Chief Cost.—Askit—"And so you hare given up your luamer trip t« Wetspot-by-the-Sea?" Tefitr—"Yes, I had to. I had money enough for expense.*, but not enough for tips."— Baltimore American.