THE SEARCH FOR GOLD

New Zealand Herald, Volume LXIX, Issue 21325, 28 October 1932, Page 11

THE SEARCH FOR GOLD

NORTH AMERICAN FIELDS "STRIKES" IN FAR NORTH [from ocb own correspondent] VANCOUVER, Sept. 14 Not since the days of the Klondyke rush has there b.een such intense gold-seeking activity in the West. Every mountain stream in Colorado, Nevada, California and British Columbia has its banks dotted with gold-panners, prospectors and placet miners. They are meeting with more than average success, especially experienced men. Five seaplanes flew from Detroit, Michigan, to northern British Columbia, just below the Yukon border, to test a report of good "pay dirt" there. They were disappointed and came out. The majority of new "strikes" in the Far North arc accessible only by air, and, after men and equipment are left on the claims, food is dropped regularly from aeroplanes if near by landing is not practicable. Everyone is asking where will the next big "strike" come?. The fact that more (ban half the gold in the past was procluced from placer (alluvial) deposits impels many to continue the search, although competent authorities state that they are beginning to belie-ve that there will be no more major placer discoveries like California, Australia, Klondyke and the Cariboo (British Columbia), .At present the larger portion of the world's annual production comes from lode deposits, from large low-grade gold mines, and as a by-product from large low-grade base-metal mines. The gold standard was established by Britain in 1816, after Napoleon had been successfully dealt with, and Britnin was 011 the threshold of one of the most progressive periods in world history. Silver was virtually standardised at 15 ounces to niie of gold. In 1873 Germany and the United States went on the gold standard, and every important followed suit, until silver became more or less disturbed. and has since become subject to fluctuations in price, which brought about awkward situations in the countries using silver coinage, particularly China and India, with their immense populations usually forced to live from hand to mouth. Gold has had such a lasting effect on the human race that its .first mention in the Bible synchronises with the first mention of creation—in the second, chapter of Genesis. In 1492!. when Columbus discovered America, the world's gold production was less than 1 per cent of the presentannual output, and most of it was conning from Austria-Hungary. Even in 1800 production was not more than 500.000 ounces, and 75 per cent of it was then coming from Soirh America, while to-day that continent produces ftnlv about 2i> per cent. By 1860 production "had reached 6,000,000 ounces a year, and Beorth America was producing more than 40 per cent of the total and Australia was responsible for another 40 per cent. • By 1900 gold production had readied 12.500.000 ounces, with North America producing 34 per cent, Australia 25, Siberia 12. South Africa less than 1 per cent. Within a few years South Africa jumped into first place until, by 1927. she was producing 52 per cent of the world output of almost 20.000.000 ounces. South Africa has retained her lead, and to-day is head-and shoulders above any other country, and in 1931 was producing more than was ever produced by a single country.