BRITAIN'S GOLD SUPPLY

Dominion, Volume 12, Issue 81, 31 December 1918, Page 4

BRITAIN'S GOLD SUPPLY

THE DECLINE IN PRODUCTION. London, December 28. Lord Incheape's Committee on Gold Production reports that during the period of the war the production of cold in the Umpire slightly exceeded the production in the corresponding period immediately prior to the war. A decline appeared in 1917, amounting to ,£3,129,41.). compared with 1916, and a further fall occurred in 1918, amounting to ,E4,(i52,207; as compared with 1917. The decline in the Transvaal in 1917 was due to a combination of the shortage of explosives due to the war, and the shortage of labour. The former was the more important. The decline in the Transvaal in 1918 was mainly owing to shortnge of labour, which was not due to any | large extent to the war. The decline in Australasia in 1917 and 1918 was normal, and was mainly due to natural causes, hit wns nceeterjiied by the increase incests and the decrease of efficiency of labour caused by the war. "From the point of view. 0 f production solely the abandonment of treatment of low grade ore in f«j\onr of higher si'ftde will not within / B ". measurable period reduce the total c, (l tput of t'ie Empire, and. therei fore, 'the coni'" l "™* of the working of I 'ow "rade "lines which rre unable to I work*at. l profit is not a matter of any .crea 1 ' importance to national interests. I 'ire'are not prepared <o r»co:iimend any bountv or subsidy for the purpose of stimulating the gold output of the Empire. Gold being the standard of value,' not more can properly be naid for it than its value in currency."—Aus.-N.Z. Cable Assn,