LARGER GOLD PRODUCTION.

New Zealand Herald, Volume LXVIII, Issue 20821, 13 March 1931, Page 7

LARGER GOLD PRODUCTION.

TRANSVAAL'S NEW RECORD.

OUTPUT OF SILVER REDUCED. According to Mr. Joseph Kitchin's annual tabulation of the world's production of gold, the total in 1930 was £85,000,000, the highest figure since 1917. The recovery was due mainly to the Transvaal's seventh successive record annual output. Details, in millions of pounds at Ms lljd per fine ounce are as follows: —

•Output temporarily reduced by striko of white miners. Messrs. Samuel Montagu and Company estimates 111 o world production of sil\er in 1930 at 244,000,000 fino ounces, compared with the record production of 261,715,000 fino ounces for 1929 as estimated by the director of tlio United States mint. " Depreciation in the value of silver," (ho firm states, led to tho closing of somo of the mines in Mexico, and it. is possibly for this reason that tho production of that country, month by month, showed considerable variation; nevertheless, tho attempt to offset low prices by an endeavour to increase) the output of higher grade mines seems to have met with success. In tho United States, where silver is produced as a by-product, thero has been a falling-off which may bo traced to the decline in base metal prices, although Canadian production shows an increase. " The extent to which supplies have been augmented by silver derived from demonetised coin has again been substantial. Indian Government silver has been the most important factor in this direction, and shipments of unrefined silver have been made periodically to England besides the salo to tho Far East amounting to 15,000,000oz.; it is probable that the amount provided by this source was in the neighbourhood of 30,000,000 fine ounces. Supplies were forthcoming from Franco during the first half of tho year, and, although the total derived from that quarter is difficult to estimate, it was possibly altogether some 23,000,000 fine ounces. A new factor was the appearance in China of redundant Saigon dollars, and during March the number of these coins included in stocks held in Shanghai represented about 18,300,000 fino ouces of silver."

TRADE OF NEW SOUTH WALES. FIGURES FOR JANUARY. Imports to New South Wales from overseas during January recorded an increased rate of fall compared with even the heavy decline of recent months. The value of imports for the month was £2.010,474, or 63 per cent, below that for January last year. For seven, months of the financial year, 1930-31, imports were valued at £18,176,558, a fall of £19,881,887, equal to 52 per cent., compared with seven months of 1929-30. The position of exports declined slightly on the month and at £16,935,534 for the seven months' period a drop of £3,806.324 was shown, amounting to 18 per cent. The margin in favour of imports was reduced to £1,241,024, which contrasts with £17,316,587 at the corresponding stage, of 1929-30.

The rest of the British Foreign Trans Emconn- World. vnal. pire. pire. tries. 1914 35.7 20.8 50.5 34.0 90.5 1015 •.. 38.0 22.0 00.0 30.1 90.7 191(5 r.. 39.5 20.0 59.5 34.0 93.5 1917 r.v 38.3 17.8 50.1 30.4 80.5 1918 35.8 15.2 51.0 28.0 79.0 1919 ... H5.4 14.7 50.1 25.0 75.1 in-jo . 34.7 13.4 48.1 20.2 08.3 J 921 34.5 12.9 47.4 20.5 07.9 1922 .. 29.8* 14.8 44.0 21.1 05.7 man .. 3S.9 14.5 53.4 22.1 75.5 1924 .. -10.7 15.3 56.0 24.8 8(1.8 1925 •.. 40.8 15.3 50.1 24.7 60.8 ]!)2t> .. 42.3 15.3 57.0 21.7 82.3 1927 .. 43.0 15.(5 58.0 21.0 82.0 1928 .. 41.0 15.4 59.4 24.3 83.7 1929 .1930 .. 44.2 (cat.) 45.0 15.5 16.3 59.7 61.9 23.1 23.0 82.8 85.5