GOLD PRODUCTION.

New Zealand Graphic, Volume XVI, Issue XII, 21 March 1896, Page 314

GOLD PRODUCTION.

The summing up of 1894 showed a total production, in round figures of i80,000,000d015., an increase of 23,000,000 dols. over 1893. Thisyield wasabout 30,000,000d01. greater than the product of any year when the placer mines of California and Australia were at their maximum. The indications now point to a yield of 200,000,000d015. for the calendar year 1895, another increase of 20,000000 dols., and an increase 0f43,000,000d015. in the annual output in two years, and of 54,000,000d01. in three years. As the annual supply of gold is not used in the year, but is mostly added to the pre-existing sum, it follows that the world's stock has been increased in the three years named by the enormous sum of 537,000,000d01.

The consumption of gold in the arts is undoubtedlyincreasing generally, although there was a marked diminution of such use in the year 1894, owing to the hard times. The use of gold for purposes of adornment, which is almost its only use except as money, rises and falls according to the prosperity of the nations. It is an article of luxury. These uses in the United States, according to the calculations of the mint, were about I9,ooo,<x>odols. in 1893, but fell to 13,00,000d015. in 1894. Very likely the consumption of the present year will equal or exceed that of 1593. On the other hand, the product of the gold mines of the United States, according to the estimate for 1895, will be 46,000,000d015. against 39,500,00 c idols. in 1894. The South African product is estimated at the same figure as that of the United States, 46,000,001 idols., that of Australia at 43,000,000d015., and that of Russia at 29.01x1,000d015. These four countries produced three-fourths of the world's annual yield.