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Show THE WORLD'S SUPPLY OF GOLD. It is claimed that the world's stock" of gold at the present time is about double what it was in 1848, and consequently, if there were no other influences to counteract counter-act the effect of this, and gold was the staudard some people claim it is, the prices of all commodities would have been at least double in 1847 what they are now. But the progress of inventions for increasing general production, the increase in-crease of population arid wealth, the demonetization de-monetization of silver r.nd . the establishment establish-ment of gold currencies in its stead in Germany and elsewhere, have neutralized neutral-ized the effect of this disturbing element and caused gold to rise. Statistics show that before the California Califor-nia discoveries of 1843 the production of the old mines was about $67,500,000 a year ; but the discoveries raised the total yield in three years, 1849-51, to $120,000,-000 $120,000,-000 a year, and in the next five, 1852-5G, to $183,750,000,the highest points touched, from which the yield has gradually de creased until it now stands at about $100,000,000. It was estimated a few years ago that the expense of making good the wear and tear of English gold currency amounted amount-ed to a little less than 2,000,000, or" $25,000,000. On tliis basis the cost of making good .the . wear . and tear of the gold currencies" of the world at the present pres-ent time, and.sujjjjlying the place of that used in the arts; must amount to $100,-000,000 $100,-000,000 in gqldtliajjato say, . it requires that sumevery year of. new gold merely to keep up the existing volume of those currencies. There are three principal sources of supply. Australia, the United States and the Ural Mountains; The production of the last is estimated at $20,000,000, the United States at $35,000,000, while the average yield in Australia has fallen to $37,000,000. " As matters stand, and have stood sincathe war, in fact, the yield of the three principal gold-producing countries coun-tries is barely sufficient to replace the wear and , tear of existing currencies. But each year the population of . the gold-using coun-v coun-v tries is rapidly growing, trade is extending in all directions, and the mag nitude of transactions is increasing. The result is more money is needed by those countries. Even in the German Empire, as was pointed out yesterday, the gold supply is bo limited that it is with difficulty diffi-culty the exchanges of the country can be transacted, and a proposition to restore re-store silver to its former sphere in the monetary system is shortly to be considered. con-sidered. Gold, instead of being the standard of values which some people claim it is, is subject, like other commodities, to the laws of supply and demand. The testimony testi-mony of the most reliable authorities shows that the growing populations and expanding trade of civilized countries need more gold than it is possible to ob-! ob-! tain, unless some new, and at present unknown, un-known, source is discovered. It is no longer adequate to the world's wants, and to meet the emergency silver must be fully restored to the monetary system of the world. . |