Rensselaer Semi-Weekly Republican, Volume 38, Number 18, Rensselaer, Jasper County, 13 October 1905 — World’s Stock of Gold. [ARTICLE]

World’s Stock of Gold.

The amount of gold in Europe when America was discovered is believed not to have exceeded $225,000,000. In the 404 years until 1896 the world’s production is estimated at $9,000,000,000—half of which was added to the money supply. Including the estimate for 1905, in the ten years beginning with 1896, nearly $3,000,000,000 in gold Das been mined —almost a third as. much as during the preceding 404 years. This despite the fact that the Boer war tor two years closed the Transvaal mines. The production In 1903 was $325,000,000; in 1904, $350,000,000 and for 1905 it is estimated at $400,000,000. The world’s stock of money gold in 1897 was approximately four and a quarter billions. By the end of the present year it is estimated that it will be almost six billions—an increase of nearly 50 per cent in nine years.