OCR Text |
Show GOLD PRODUCTION COSTS INCREASE Like all other industries, that of gold has been affected greatly by the rise in the cost of material, such as cyanide, etc., and by the increase in wages, following the higher cost of living during the war. The agent of the geological survey for California estimates that the cost of mining min-ing gold was 18 per cent higher in 1917 than in 1916; the cost of working ore rose 6 per cent in the Transvaal during the same period. As -an instance of the indirect influence of gold mining industry upon the prosperity prosper-ity of a country, Samuel Montagu & Co., hankers, of London, relate that "owing to the recent shutting down of the Great Fingall mine in West Australia, a town created by the industry and of sufficient importance to own seven hotels and four churches, is being evacuated by its Inhabitants. In-habitants. During the eighteen years of its existence the mine produced 4,92,-050 4,92,-050 worth of wold no inconsiderable addition ad-dition to the world's production." Boston News Bureau. |