People's Pilot, Volume 4, Number 13, Rensselaer, Jasper County, 14 September 1894 — The Production of Gold. [ARTICLE]

The Production of Gold.

Those who ascribe the depreciation of values and financial and economic disturbances to a decrease in the production of gold will get no encouragement for their theory from the report of the director of the mint. This states the value of the world's output of gold in 1893 to have been, in round numbers, §>155,000,000, an amount but little less than the average value of the world’s output of both gold and silver for several years before the passage of the act of 1873 stopping the coinage of standard silver dollars. It is estimated that of this production 500,000,000 was used in the arts, 5525,000,003, the product of Russia, remained in that country to be hoarded, and 53,003,003 was imported into India, leaving an amount of gold available for the new coinage of civilized countries, Russia excepted, of $07,000,000. According to the most trustworthy calculations this exceeded the amount of both gold and silver available for coinage in the years 18001873, which is stated to have been a little over $00,000,000. —Omaha Bee.