RECORD GOLD OUTPUT

New Zealand Herald, Volume LXXV, Issue 23011, 12 April 1938, Page 7

RECORD GOLD OUTPUT

WORLD PRODUCTION DETAILS FOR LAST YEAR BRITISH EMPIRE'S SHARE The world's gold output in 1937 reached a new record for the eighth year in succession. Undisturbed by the gold scare and by technical difficulties, the world production, according to figures compiled by the Union Corporation, London, rose 7.5 per cent to 35,500,000 line ounces. This figure is 40 per cent larger than the production figure for 1932, and 83 per cent larger than the output for 1928. Estimates of production of the ten leading countries for the past three years, compared with that of 1932, -ire as follows: (In thousands of line ounces) I HUT W3O l u:ir« Willi South Africa 11,735 11,33(1 10,774 11,550 lfus.sia .. (1,000 5,100 -1,500 1,050 U.S.A. .. i.oso :t,7(io 3,nt3 'J,i!W Canada .. .1,055 3,7-18 3, , _ ) *5 3,0-11 Australia . 1,3(10 1,170 HIS 71-1 Mexico .. H-lo 751 ' ((hi; ssi S. Rhodesia N(l4 707 7l!<l 57-1 Japan .. 7liO (177 573 <lo'i Philippines 703 507 1-1(1 1!30 Korea . . 570 sliL 473 31U New Zealand occupied 17th position among the world's producers in 103", the estimated output being 190,0000z., against 165,0000z. in 1936 and 1935, and 166,0000z. in 1932. New Guinea was in 16th place with an estimated production of 250,0000z., compared with 226,0000z. in 1936 and only 75,0000z. in 1932. Of the world output of 35,500,0000z. the British Empire "produced 19,691,000 ounces, or 55.5 per cent, against 18,598,0000z. of a world production of 33,022,0000z., or 56.3 per cent, in 1936. The South African j>ercentage of world production was 33.1 per cent in 1937 and 34.3 per cent in 1936. Commenting upon the position of Pussia the Union Corporation states: — "For a number of years the Soviet Government has only permitted the publication of percentage increases in Russian gold production and not of actual output figures. As there is uncertainty regarding the original base for these percentages, it is impossible to assess the official figure for actual production, and in these circumstances foreign estimates vary widely. After carel'ul consideration of all the evidence available to us we give in the foregoing table revised figures for Pussia, which, in our opinion, are most likely to represent the actual facts."

MEAT IN BRITAIN MORE HOME-PRODUOED APPEAL TO BUTCHERS [fhom ouk own cohrkspondknt] LONDON, March i>3 An appeal to Britain's butchers to co-operate with farmers so that the people could be supplied with more home-produced meat was made this week by the Minister of Agriculture, Mr. W. S. Morrison. "It is quite certain that an efficient distributive machine is vital to the wellbeing of our home agriculture," Mr. Morrison said, "i maintain that the converse position is equally true—that it is in your best interests that a flourishing and progressive agricultural industry should be fostered in this country. The more meat wo can produce at homo the better, provided it is good meat, and there is enough of it. and our |K'ople can afford to buy it." Of the Government's recent proposals for helping pig producers, Mr. Morrison said: "Our object is to see you have plenty of good bacon to offer to the housewife at prices she can pay, that as much of that bacon as possible comes from home sources, and that the home producer gets as much ns possible for it. Wo shall go on regulating supplies from abroad, but we shall not regard ourselves tied to any fixed total." Mr. U. H. Coggnii, a London butcher and ex-president of the National Federation of Meat Trades Associations, assured the Minister that butchers did not want quotas on meat and bacon. "We want tariffs," ho declared, amid applause. Mr. Morrison made no reply.

RECORD CYCLE EXPORTS INDUStRY IN BRITAIN NEW ZEALAND'S SMALL SHARE [l-KO.M Ol r K OWN correspondent] LONDON, March 23 Although Now Zealand is best overseas purchaser of motor-cars, she does not occupy the same commanding plan? in the British export trade in bicycles and motor-cycles. Of last year's record bicycle exports of B>'U, 11S machines, only 42,195 went to New Zealand. India was the best purchaser, taking 187,636 bicycles. South Africa with 153, 11£, was second, followed by Ireland, (37,871; the Argentine, 48.383; British West Africa, 46.871. New Zealand was sixth. Total exports showed nil increase of 1311,910 machines over the 19,'J0 figure. Motor-cycle exports, 25,350, were higher last year by 4890. Australia's purchase of 85(38 machines was the largest. Among Empire countries South Africa was second, and New Zealand, which took 2265 machines, was third. The total value of complete bicycles, motor-cycles and parts exported from Britain during 1937 was i' 6,038,957.

MOTOR INSURANCE WORLD-WIDE DIFFICULTY The difficulties of motor accident insurance were commented upon by Sir George Tilley, president of the Pearl I Assurance Company, at its annual meetinn in London. Referring to a loss in the motor account, vSir George said those who had studied the monthly returns of road accidents would readily appreciate that motor business continued to be the subject of anxious consideration in the insurance world. It might require two people to make a quarrel, but it required only one person to produce nil accident; and that person might be either the motorist who neglected to leave himself a margin for error, or the pedestrian who forgot to give himself a margin of safety. Until this road carelessness was eradicated motor insurance would continue to bo fraught with difficulties. During the past year a House of Lords decision that damages could be recovered for loss of expectation of life, Jn addition to other damages, had placed a new burden on motor insurance. The full effect of* that decision hail yet to be ascertained, but it might ultimately necessitate an increase in the rates of premium. WHOLESALE SUGAR PRICES Reductions in the wholesale price of sugar, which took effect from the beginning of this week, as notified by the Colonial Sugar Refining Company, Limited, yesterday, amounted to 10s a ton on all grades. The new prices were quoted ill yesterday's Herald.