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Hokitika Guardian, 18 November 1930, Page 4

TirmtE is a larger gold question than that relating to the precipitate decline of prices in the last year, or the decline of the last live years, sqys u New York banking journal. It lias to do with future supplies of the metal rather than to those that have been available to this timM Not-wiitli-stahding the fact that gold, production has been showing a moderate increase over the last five years, there are reasons to apprehend that 'this trend may not be sustained, hut possibly reversed in the near Hiture. More than 50 per cent of the world production is being obtained lrom the Transvaal field, South Africa, and the older mines of that field are approaching exhaustion. The field has been extended in recent yeans and n c w producers of large capacity thus far have more than sustained the aggregate yield of past years, but warnings are given that this probably will not be the ense for long, Definite predictions are made Fiat a gnu Inn] falling off will begin at as near a date as 1032, and that hv 1940' the decline will be of substantial pn portions. This view, it should ! '0 said, is challenged, .and it Is tr ie that smllnr predictions have been made before and failed to come true. Undoubtedly new mines and fields vMI ho onened in other parts of the world, but there is small chance of another Rand. 'Whether nr not Die 0 wlme of this great field begins with'-n U vo years or ten years, the certainty 'of it at no distant time is something for the financial world to lie thinking about The international financial conference a,t Genoa in 1922 stressed the importance of greater co-oneraton between the Central Banks of all countries with a view to giving stability to credit conditions and. of making more effectve use of ranking . Prompted by the same motive the Fumncial Committee of the League or Nations, acting on the authority of the Council, has formed a body, made up in part of its own members and in part bv appointments outside its membership, “to examine into and report upon the causes of fluct-UMoiw in the purchasing power <f gold ■>"Cl their effect upon the economic life ot Nations.” This body held > ts H?t meeting in August. 1929, «ml second mooting in June, 1930, ivd wid make an interim report to the Committee at the League meeting tins month. Thus tho nihjeM is under inquiry and. consideration in the most important international conlerence body.