Press enter after choosing selection

The Precious Metals

The Precious Metals image
Parent Issue
Public Domain
OCR Text

Apropos ot trus golden epocn ana age of silver bonanzas, mo learn f rom the most reliable Bources of iDformation that from the earliest times to the commenccment of the Christian era the amount of precious metáis obtainod from the surfaco and mines of the oarth, is estimated to be $4,000,000,000; from the latter epoch to the diseovery of America another sum of 84,000,000,000 wís obtained; from the date of the latter evt nt to that of 1800, an addition of $9,000,000,000 was ïnatlc; the extensive woiking of Kussian gold mines in 1843 addndto the close of 1842 81,000,000,000 more; the doublé discovery of the California gold mines in 1848, and those of Australia in 1851, added to the close of last year, 85,000,000,000, making a grand total at the present time of $23,000,000,000. The average Iops by abras ion of coins is estimated to be a tentb. of 1 per cent. per annnm; and the average loss by consumption in the arts and destruction by flre iind ship wreek at from L2,000,000 to $8,000,000 per animin. The amount of the precious metals now in existenco is estimated to be $13,000,000,000, of which gold furnishes $7,000,000,000, and silver the remainder. Of the araount now in existence, $8,000,000,000 is estimated to be in coin and bullion, $3,000,000,000 in watches, and the remainder in plate, jeweiry and ornaments. Of the amonnt now in existence, $7,000,000,000 is estimated to have been obtained from America, $3,000,000,000 from Asia (inclnding Australia and New Zealand), $2,000,000,000 from Europe and the remainder from África. Prior to the commencement of the Oliristian era, the umual product of the precious metáis was aboat $2,000,000; from the commencemeut of the Ckristian era to the discovery of America it was $3,000,000; in 350 years it attaine-d to $25,000,000; during the decade immediately succeeding, 1842 to 1852, it was $100,000,000, and since the doublé discovery of the California and Australian mines, 1853 to 1872, ifc has averaged $256,000,000. Tho annunl product of the precious metáis attained its ocme in 1853, when it was $285,000,000. The iru;rease in theaaount of the precious mets Is in existence has been grea ter during the last twenty-flve years than during the previous 140. With suoh magnificent results before ns, isit not singular that CaUfornia and the Pacific slope do not cut a more imposing figure in the world of commeree 1


Old News
Michigan Argus