INCREASE OF THE WORLD'S GOLD.

Otago Witness, Issue 1892, 15 May 1890, Page 14

INCREASE OF THE WORLD'S GOLD.

The year last past was remarkable for the large number of new and profitable mining regions opened up. The result was a considerable increase irj the world's gold product. There has been nothing like it since the discoveries in California and Australia between the years '49 and '52. Up to 1888 the annual yield in Queensland had only reached 2,600, 000d01, but last year it suddenly jumped up to 15,000,00Qd01, with a prospect of a long

continuance of still further increases. The Mount Morgan mine alone produced 9,360,0C0d0l from quartz, whioh averaged 120dol per ton in gold. This haa naturally given an impetus to quartz mining, and as soon as the necessary machinery can be erected it is known that several new reefs will become bullion producers. In South Australia, whioh has not hitherto been a gold colony, an important discovery has been made 250 miles north of Adelaide. A reef has been traced for several miles, which is found to yield a remarkably uniform average of 6oz of gold to the ton. But it ia in South Africa that the newest and most astonishing finds are being made. It is confidently predicted that as soon aB a railway has been made to tap the heart of the continent and render the introduction of heavy machinery possible, there will be discoveries that will surprise the world. Already the Transvaal country, which is but on the outer fringe, as it were, of the gold region, is adding very substantially to the available gold supply. In 1887 the output was but 320,000d01, but by 1889 it had increased to 15,000,000d01, and the new discoveries aro so numerous and bo promising that a continuous increase is certain for some time to come. The great want of the region is a railroad from Delagoa Bay, which is being retarded by the Portuguese Government, because it has not as good a title to the back country as it would like to have. English muscle, brains, and capital have taken possession of the country, and are likely to keep it. The Transvaal iB being rapidlychangedintopraoticallyaßritish colony. The new arrivals during 1889 exceeded the entire Boer population, and by the end of the present year the excess will be in the proportion of at least two to one. But it is in Swaizeland, Nyassaland, and the region to the north of the Transvaal that the most promising outlook^ appears. The next year or two will witness a marvellous change in that locality. From the nature of the matrix in which the gold is found, and the character of strata generally the probabilities are that Africa will turn out the qreateßt gold-producer the world has yet known. Even India is again taking a place among the gold countries. The southern spurs of the Himalayas are beginning to pan out in a promising way. Several English companies were last year organised to develop that region, and over 1,200,000d0l worth of gold was obtained. But the most extraordinary discovery recently reported is the result of an exploration of country between the Madre de Dioa river and Peru, in South America, and is believed to have hurried up the Grace contract. Two eminent engineers have explored an immense body of ore, which they declare will yield 1,500,000,000d01, and is situated in the province of Sandia, which, until recently, bad never been trodden by civilised men. From China and Oorea reports of gold workings come, which it is difficult to verify, but that they amount to something is evident from the machinery that is going there. Last year the United States produced 33,000,000d01in gold and 65,300,000d0l in silver, which was an increase of 3,000,000d0l in the former and of 12,000,000 in the latter over the previous year.— San Francisco Newß Letter.