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Show GOLD PRODUCTION. The record of the world's gold production pro-duction for 3908, as compiled by tho Financial Chronicle of New York, shows a renewed tendency to increase not alone in South Africa, but In inoBt othor gold producing countries. Production Pro-duction in 190G' for the first tlmo reached the figure or $400,000,000. in 1907 it was $412,400,000. but the South African mines alone expanded their output by nearly $20,000.000 leaving for other producing countries on the average a decline from 1906. Last year, however, production Jumped to $434.872,657 an Increase over 1907 of $22,400,000, of which tho South African Af-rican mines contributed $15,170,000, leaving a considerable gain for tho rest of the gold-producing world. And with the exception of Australia all the other principal producing regions show an increase. The world's gold output In 188:5 amounted only to $99,757,800. That was the low point of recent times. Prom 1882 to 1888 production was nearly stationary, increasing only to about $107,000,000. But in the latter year tho South African mines began to be opened and since thon, with the interruption caused by the Boer war, the world's gold production has been expanding to an extent never berore known, and with a rapidity only equaled equal-ed by tho California discoveries in 1850. The large increase for the United States In recent years has been chiefly chief-ly due to tho Alaskan discoveries, which, on the Canadian side of tho line, brought the Dominion Into notice no-tice as a gold producor. But Canada of lato has boen relapsing again. The Klondike discoveries ralsod its annual production from less than 100,000 ounces to 1,350,476 In 1900, since which time there has been a 6teady decline to 461,400 ounces last year. The American side of tho Alaskan line has done better last year's production pro-duction being 1,012,528 ounces, against 894.424 In 1907 and 1,033.537 in 1906. Next to and ahead of Alaska comes Colorado as a gold producer that state yielding 1,103,522 ounces last year. For tho same years as above tho world's total gold production In ounces and values has been as follows: Ounces Value. 18S2 4,825.794 $99,757,848 1888 5,175,623 106,989,441 1898 14,016,374 289.743.6SO 1903 16.778,016 326,159.991 1906 19,370,658 400,426,369 1908 ..21.037.S18 434.872,657 In 18S2 tho United States produced pro-duced about one-third of the world's total, and Australia about an other third. In 1908 the United States was producing lees than a fourth and Australia Aus-tralia hardly a sixth. South Africa has now become the great factor, supplying sup-plying 40 per cent of the total in the greatest production of the metal ever known. Going back , to 1893, the Chronicle makes a calculation of the disposition of the enormous amount of new gold shich has since that time poured out upon the civilized world: ' Stock December 31. 1893 (in banks, government treasuries etc.) .' .51,915,053,000 World's product, 1894 to to 1907, inclusive 4,113.573,348 Total $6,028,626,348 Visible stock, December I 31 1907 3.985,500,000 Remainder $2,043,126,348 Estimated use in the arts 1.101,943,570 Leaving to be accounted account-ed for $ 941.1S2.778 First to be noted is the great addition addi-tion which has been made to stocks of gold held by banks and government govern-ment treasuries since 1893 they have been doubled within that time. Next Is the large amount of new metal whose disposition is unknown which has dl&appeared as completely as If it bad never been found, and has not been without large cfTect upon industrial activity through a' regime of high and rising commodity prices that has been brought about. Whether we are nearing an end to this great expansion in gold output cannot be said. There are no present indications indica-tions of it, and as long as this is the case wo may be sure that no very extended ex-tended fall In the general prices or commodities can come to pais as a result re-sult of passing business depression. And as long as that is true, business depression will be neither severe nor greatly prolonged as It was after the panic of 1893. |