THE WORLDS GOLD PRODUCTION.

Poverty Bay Herald, Volume XXXIV, Issue 10963, 4 May 1907, Page 1 (Supplement)

THE WORLDS GOLD PRODUCTION.

The New York Commercial Chronicle has issued some interesting statistics illustrative of Uie marvellous • expansion m the output of gold throughout' the world during recent years; Last year's figures are m part estimated, biit the total of £82,292,149 given as the value Of the world's net yield- "for it, must be near the mark. Except during, the interlude of the South. African War, the output of the mines lias mounted steadily year -by year since 1882, which year guve'the smallest yield of any proceeding year since 1861, its total being only £20,499,000. The an. nual output hung below £21,000,000 until 1885, when the aggregate struggled up to about £21,250,000. Then by 1889 £23,---835,447 was reached, and every year afterwards, except m 1900, 1901, and 1902. the output went steadily up. It almost touched £41,000,000 m 1895, and rose to £64,653,000 m 1899, dipping back to less than £54,775,000 m 1901, since when the progress has been so rapid that m 1905 a total of £77,695,000 was reached Last year undoubtedly exceeded that figure, and thew is no indication whatever that the output is going to slacken off. On the contrary, it is probable that 1907 will do better than any previous year. WHAT BECOMES OF THE GOLD 1. The question which will naturally bf asked,, "What is . done with all ikis Sdd? ' cannot be accurately solved. The irector of the United States Mint estimated the consumption of gold m the arts for 1905 at Bomethihg over £17,000,---000, but there was always consumption m the arts more or less pronounced, and at its highest this use of metal does not help to account for any but a small proportion of the increased production now stimulating industry and commerce, speculation also, the world over. It is pointed out by the Chronicle that as the world has advanced m civilisation an increasing number of countries have taken to gold as, m one form or another, their national standard of value, and that there is now consequently a much wider use for gold as a currency, or as security for a currency, than there formerly was. j It is doubtless m these directions thati the bulk of the increased yield of the gold mines has gone. The orie facs we have upon which there can be no dubiety is that the world has now four times as much new gold provided for it m a year it had a quarter of a century ago.