VANISHING COLD.

Bush Advocate, Volume XX, Issue 1003, 15 April 1908, Page 6

VANISHING COLD.

;: : .'What -becoßies of vo^fe-goldy a&j£s a -"writer 'ift the Age. '■ He is" no€ considering a problem in domestic econ- '" ' Witty j '""but what becomes of the im- ;.',;' *o©nsfc . quantity of gold that is won ■ ; f rom the earth every year. • The ,':i world's immense stocks of •goldj'seem V-jto vanish almost as fast ajs' they are /. -.-'-. gained. 'Man has always had" a lust r -^-- -for. -gold; and. if it were not for the mfctal's habit of; vanishing* there .-would be sucli a^' stock to-day as to make it a .drug on- the market. Leav-* ing oaTt of account all the gold -won . hj the aricieiits, by the men Of the ;~, Middle Ages; -and.up to modern times, .^theJwriter. starts at- the middle of- last oi century. Prior to - the Californfan :<iisooveries. of 1849, the average an- ■ iiul production was about- £7,000,000 "^ Twprth.. ._-__ -The, . s£jr&rags. _yi<»ld. ? . toy the! next forty years was abotit £22,000;---jiKM).. From- 1689- to -1899 the annual . -output rose to £41 ,000,000. In the vaiext six years it rose to £77;000;000. ■ That is to. say, in fifty-sis years gold ? to the value ©f £1,680,000,000 „ ; tvron from- the earth. Yet in- 1893 . - the Director of the United States >>:iiiiit calculated that the complete' jstocK of gold in the world was but £813,000,000 worth, and another a\ittority iiut it at £770,000,000. "If , these estiittates were correct, all the j -'-.-.golden, wealth, of all the mmcs ■: iivdi I kings and kingdoms of the 'globe • existing before 1850 had- vanished -from the sigbt *>f men .as if -it 7 had never been.'^. xThe f aGt'^rehMins that. :■ "in spite, of the huge increase in the :~ mitput, the desife ifor gold is ! just : ■ "^ keen."^ It. was estimated aj dozen years ago that the world was r using; up £13,000,000 a year in arts "anil; ornaments^ Tlie 'EcononiisV 1 calc\i% -lated a- fe%r years backltnat 000 was lost annually in tlie depreciation, of coins, floods, and ship- wrecks, : Aii'd -in : th© mamrfaeture of article*: :; from "which tlfe gold tb"neve'r returned to circulation*. Immense '■-■ are hoarded, : especially in the Easj;.' C; "The these speciilations' is. ■-■thisi th"a;t seeing, we have "produced wortli of gold iii the last fifty-six years, and have now got £1,332,000,000 injeoinage, eren if we allow £350,000,006 worth to exist in the shape of plate and ornament, the does>not>o6ritaiu more t3ian tlie product of its last fifty-six years. All Ijhe restvfhas vanished'iin weai : and • i^ar arid losses by flood, fire, aiid*ship:W reck» : J ' '4- ■'•%-•, >••;- : -i- ..-■':< v -<: - - : '■ sAinerican capitalists have acquired large holdings of. iron ore in British Columbia, with the intention of shipping the ore to the United States, to be used in smelting works thore.

-.-.— - ■ - - - ■ - Sf General Baden-Powell, in opening the^t^LC.A. ;Hall ikt Leeds, said : "J find it quite possible to be a Christian and yet cheery." Miss. Rose L. Fritz, the world's type-writing champion, types corTectly 87 words a minute for an hour. She, is going from New York to take .part" in contests at the Business Exhibition at Olympia. SA London message advises that M. Lenioine, .the nianufcturer of diamonds," lias been released, on condition, that h© proves within two -months that he is able to manufacture diamonds. -._,.. .