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Precious Metals

Precious Metals image
Parent Issue
Public Domain
OCR Text

Appropos of ibis golden epoch and age of BÜver bonanzas, we learn from the most roliable sources of information that, from the oarliest times to the commencement of the Christian erft, the amouut of precions metáis obtained from the snrface and miues of the earth is estimated to be 54,000,000,000; from the latter epoch to the discovery of America, another sum of $4,000,000,000 was obtained from the date of the latter event to 1842, an ndditiou of $9,000,000,000 was made; that extensive working of Kussian gold mines m 1843 to the close of 1842 was $1,000,000,000 more; the doublé discovery of the California gold mines in 1848 and those of Australia in 1851 to the close of last year $5,000,000,000, makirig o grand fotal at the present time of $23,000,000,000. The average loas by abrasión of coins is estimated to be a tenth of 1 per cent. per annnm, and the average loss by consumption iu the arts and destrnction by flre and shipwreck at 82,000,000 to $8,000,000 per annum, The nountof the precióos metala now in existence is estimated to be $13,000,000,000, of which gold furnishes $7,000,000,000 and silver the remninder. Of the amonnt tow in exis'tance, $8,000,000,000 is estimated to be in coin and bulli -n, $3,000,000,000 in watehrs, and the remainder in plate, jewelry and ornament?. Of the amount now in-existence, $7,000,000,000 is estimated to have been obtained from America, $3,800,000,000 from Asia (including Australia and New Zealand), $2,000,000,000 from Europe and the remainder from África. Prior to the commencement of the Cbristiau era the annual product of the prccious metáis was about $2,000,000; from the commencement of the Christian era to the discovery of America it was $3.000,000; in 350 years it attained to $25,000,000; during the decade immediately succeeding, 1842 to 1852, it was $1,000,000,000, and eincethe doublé discovery of the California and Australia mines, 1853 to 1872, it has averaged $25000,000. The annual production of the precious metáis attained its acme in 1853, when it was $282,000,000. The increase in the amount of the precious metáis in exietence has been greater dnring the last twenty-flve years than duriDg the previous 140. With such magniflcent results before us, is it not sJDgular that California and the Paciñe alopo do not cut a more imposing


Old News
Michigan Argus