People's Pilot, Volume 5, Number 19, Rensselaer, Jasper County, 31 October 1895 — INCREASED GOLD PRODUCTION. [ARTICLE]

INCREASED GOLD PRODUCTION.

One of the standard arguments of the gold standard advocates, namely, that silver had become so plentiful in comparison with gold, that its bullion value was lessened, is being given a severe blow by the report of the director of the mint. Ln speaking of his report for 1894, Mr. R. E. Preston, the director of the mint, says: “I am satisfied that the gold product of the world will not be less than $200,000,000 for the calendar year 1895, which will be an increase of $20,000,000 over 1894. Of this increase the United States will contribute not less than $7,500,000. Colorado will furnish from $3,500,000 to 4,000,000, California $2,000,000, and Arizona, New Mexico, Idaho, and Montana will make handsome showings. In Colorado the principal increase will come|from Cripple Creek district. This district altogether will produce 15,000,000 this year. It required some time to convince capitalists that this was a wonderfully rich district. The shipments|of rich ore made in the last year have removed all doubt about the future of the Cripple Creek country. Leadville also will show an increase this year in the output of gold. Some of the mines in that region are very productive. In the Leadville re gion there are found gold, silver, copper, lead, and iron. There is a general revival of gold mining throughout this region “California mines are certain to show an increased output from '’this time forward. The establishment of the debris commission in California has given a great impulse to hydraulic mining which is exceedingly profitable. Where there is placer mining, particularly in Montana and Idaho, the product of gold will not be so great as it would have been had there been heavy snows in the mountains. There

is a shortage of water in those states which serves to handicap the miners. The returns from quartz mining there are very satisfactory. Some heavy shipments of ore are being made from Helena. Everywhere I went in the mining regions of the west I saw evidences of great activity and prosperity. Not alone in the United States is the output of gold increasing. South Africa has gone ahead of Australia in the amount of its gold products, and will produce this year a vast quantity of the precious metal. Australia probably will contribute $2,000,000 or $3,000,000 of the increase. Russia also will produce from $2,000,000 to $3,000,000 more than it did last year. Russia’s output last year fell off, but the increase in Siberia this year will be marked, judging from the information I have received from our minister at St. Petersburg. Mexico, which contributed $4,000,500 in gold last year, will make a far better showing this year. We gained last year for the gold stock of the world about $7,000,000 of the gold formerly hoarded in India, and we have every reason to look for an increase this year and for a number of years to come.”