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Show HOW MUCH GOtD IS USED IN THE ARTS? Since 1893 the Director of the United Unit-ed Statea mint has endeavored to ascertain as-certain the amount of gold and sliver used in the arts throughout the world. The representatives of the United States In foreign countries lend their assistance to forward his inquiries and it Is generally admitted that his estimates are as nearly accurate as under the circumstances could bo expected ex-pected His report for the 1910 has not been issued, but for the nine years ended with 1909 we find that the annual avcrago was, In round figures, about 19,000.000 Assuming that the consumption In 1910 was the same, wo get for tb.e ten yenrs ended with last December a grand total of 190,-000,000, 190,-000,000, being at the rato of 19,000.-000 19,000.-000 per annum. With regard to the uso of gold In the arts, it Is often objected ob-jected that the estimates of tho Director Di-rector of tho United States Mint are very much too low. The various foreign for-eign officials to whom the Director of the Mint addresses himself aro either caroleBB or unwilling to take tho trouble to ascertain the facts required, re-quired, and the result, we aro assured as-sured is that the real consumption In the arts la very much understated. There is no doubt that many officials nre very careless. It Is unquestionable that the estimate esti-mate of the Director of the United States Mint is no better than an estimate esti-mate But It does not Bcem probable for all that that, that it varies very much from tho truth. Those who tike a different viewpoint, however, to tho fact that whle tho consumption consump-tion of gold in tho arts all over the world during the ten years, onded with 1908 Is estimated by the Director Direct-or of the United States Mint to havo averaged no more than, In round figures, fig-ures, 18,250,000, yet his estimato for the same metal in tho arts in the United States in the same ten year3 amounts to no less than 5,741,035. Consequently, according to the United Unit-ed States Director of the Mint, the consumption In the United States Is 31 4 per cent of the consumption of tho whole world, and we are asked: Is It credible that the United States alono uses up new gold In tho arts to the amount of nearly one-third of tho wholo world's consumption7 Notoriously the people of the United Slates use both the precious metals and preclouB Btones to a very much larger extent than the poople of any other country. There can be little doubt that gold In tho arts Is used much more largely in the United States than In any other country. Wo have mado Inquiries among bullion brokers and refiners here in London, and we find that the general impres sion among them is that tho estimato of tho Director of tho United States Mint is as nearly accurate as any estimate is likoly to be. Furthermore, wo find that their own' estimaton of the purchasos of now gold in this country for the arts range from about 30,000 to about 50,000 weekly, which would give a mean of 40,000 a week. An average of 40,000 a week would amount to 2.080,000 per annum. Consequently, if tho purchases pur-chases for the trade are right, the buying buy-ing for the arts in London amounts roughlv each year to somewhat over 2,000,000. During the ten years ended with December last we found the total production pro-duction fo gold all over the world amounted to 758,213,110. Consequently Conse-quently tho consumption of gold in tho arts, according to the Director of the United States Mint during the ten years onded with 1909 bore the proportion to the world's produc-j produc-j tlon of gold In the ten years ended with last December of a little over ' 25 per cent. Over and above this, we found that the additions made to the gold held by the central banks of the world and the treasuries which act a-i central banks amounted to 386,-180,000. 386,-180,000. or 51 1 per cent of the total production of gold In the world during the ten years ended with December last Adding tho accumulation of .gcd ; In the arts during tho ten years ended with December last, we find that the two together amount to a little over 76 per cent of the total production of the world In those ten years. The actual ac-tual consumption for the ten years ended with December last waa larger than the consumption for the ten years ended with 1909 If our reasons rea-sons be good, It follws that tho consumption con-sumption in the arts was really larger larg-er than the figures Just given. Loudon Lou-don Statist |