WORLD’S GOLD PRODUCTION.
Some interesting statistics have been compiled illustrating the great expansion in the world’s production of gold ini recent years. Last year’s figures are ini part estimated, hut the total .of £8*2,292,149 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 has mounted steadily, year by year since 1882, which year gave the smallest yield of any preceding yen* since 1851, its total feeing only £21,250,000. Then by. 1880 £29,835,447 was reached, and every year afterwards, except in 1900, 1901, and 1902, the output went steadily up. It almost touiohed £41,000,000 in 1895, and rose to £64,853,000 in '1899, dipping hack to less than £54,000,000 in the next year, .and to £54,775,000 in 1901, since when The progress has been so rapid that in 1905 a total of £77,695,000 was reached. Last year undoubtedly exceeded that figure, and .there is no indication whatever that the output is going to slacken off. On the contrary it us probable that 1907 will do better than, any previous year 1 . The question, ‘What is feeing done with all this gold?’ cannot be accurately solved. The Director of the United States Mint estimated the consumption of gold in the arts for 1905 at something over £17,000,000, but there was always consumption, in the arts more or lesis 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 that ns the world has adva.njced in civilisation) an increasing number of countries have taken 1 to gold as ini one form or other, their I national standard of value, and that I there is now consequently a much I wider use for gol das a currency, than' I there fomerly was. It is doubtless in ■ these directions that the bulk of the I increased yield of the gold mines has I gone. The one fact we have upon I which there can be no doubt is that I the Hvorld has. now 1 four times as much I new gold provided for it in a year as I it had a quarter of a century ago.
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Te Aroha News, Volume XXVII, Issue 43114, 6 July 1907, Page 4
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391WORLD’S GOLD PRODUCTION. Te Aroha News, Volume XXVII, Issue 43114, 6 July 1907, Page 4
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