OCR Text |
Show UNITED STATES' GOLD BUSINESS The recent exports of gold have given rise to much comment as to why it is that the United States should be called upon to export such large quantities of yellow metal. It does not seem to be generally taken into account that the United tSates is one of the largest gold-producing gold-producing countries in the world. Each year, basing the estimate on recent experiences, ex-periences, this country as turning out gold bullion between $70,000,000 and $xt.-000,000 $xt.-000,000 in value, an amount which, under un-der normal conditions probably would be more than the needs of this country required. If with this production tbe country annually exported $30,000,000 or $40,000.-000 $40,000.-000 of gold in excess of the importations importa-tions of yellow metal, the conditions would not appear to be In any degree abnormal, yet, as a matter of fact, the United States has In the last ten years imported In bullion gold and gold ore some $SO,000,000 in value more than was exported. It Is said that If It were not for the great stimulus in activity which business busi-ness In this country has received during the last few years, gold would be such a drug as to lead to its exportation as the commodity for which the United States had least use. |