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gold product has been increasing annually for a decade.
From ISS7 to the end of 19 3 the total South
African product was 23,929,589 ounces, valued at
}\ 1.648,126 (or $508,240,730). From 189 . when it
was 153,172 ounces, the Australasian product increased
steadily till it reached 4,11 5,526 ounces in 1809. Then
it fell back to 3,729,961 ounces in u> . l>ut reached
3,792,364 in ii) 1, and in 1 v .; ran up to a total in
value of $88,17 ,909, its largest output on record,
leaving it still the leader of the gold-producing
With the United States a close second, and the
Transvaal third among the gold producers.. Russia
is the fourth, with a product ir, 1903 valued at $24,
■ Canada the fifth; Mexico the sixth' British
India the seventh, with an output valued at $11,118,
8j . China the eighth, with one of £'■ . : Rhod
esia, not in th.' Transvaal, the ninth, with one of
$4,146,25 . Corea the tenth, with one of $4,1 . ;
and Brazil th.' eleventh, with one of S.-.S . The
other gold-producing countries report their product
lasi year at from only $1, for Portugal to $2,15 .
The gold product of the world in igoi was 12,894.856
ounces, valued at £54.774, 769 (or $266,559,884); and
in hi 2 it had risen to 14. 734,269 ounces, worth
$ 1,583.862; and in 10 ; it aggregated in value
S; 7. 1 . . All this was against a product of only
4.976,98 ounces in 1881, valued .it £21,141,216
(or $1 2,883,135), and 6.286.235 ounces in ißqi,
valued .it • 16,71 2,669 (or $120,047,793)- This enor
reflects the rapid development ol the
ng industry, and the improvement in mil
>ds .end « ngineering
The swelling title oi gold throughout the world,
;11; 1 1 1 < ■ r supplying the wants <>f the arts and manufac
tures, will naturally find its way into the banks, and
involve monetary ease and inflation
in ,ii'« >:ii the same degree as would
an increase in paper money redeem
able in gold; for th. fresh gold supply
will furnish .1 fresh basis for paper
nioney issues and mercantile and
stock-exchange loans, that is for ex
Consequently, it will favor higher
prices — a rising tide "i prices — tor
securities and commodities, and this
increased and growing abundance of
money will also materially tend to
cheapen it, and •••.<■ shall see low
interest rates winch will incidentally
i<>--t<-r speculation for a rise not only
in stocks and commodities, but real
estate, until prices ha been adjusted
t<> he enlarged volume of available
money. This i* a point well worth
considering 1 v investors and those
speculators who are prepared to operate
for a long pull.
This gold inflation is obviously the
safest kind of inflation we could have,
and it ill act as the mainspring of
general activity in trade and specu
lation, and tend to the promotion of
general prosperity until prices rise
above values sufficiently to cause a
downward reaction, as they "ill ■«•
sun- to do in the end.
Gold is only the standard of value,
and as money it is merely the me
dium of exchange for overtoiling else
of value. Therefore, hen its glowing
to excessive abundance inordinately
stimulates a rise in prices, the same
reaction to a normal basis is invited
as if the inflation was in pro] cur
rency instead of gold.
At the same time the largely in
creased borrowing demand resulting
from active speculation in stinks
and commodities would tend to
mike the money market more and more active
in the face of the increased supply of gold. Thus,
demand, by outrunning supply, would finally raise
the rates of interest again, these being regulated by
demand and supply, like prices in general. Still, it is
interesting and may be valuable to us to note
that we live in the true Golden Age — the Age of
Not only is the new era of gold mining to be marked
by the utilization of low-grade ores, "tailings" and
other before neglected mineral resources, but the
recent improvements in economies in the mining
industry will stimulate exploration, and lead to fresh
discoveries in many different directions and in now
unknown mineral territories
There are vast unexplored fields before the gold
miner, and many wide tracts of mineral land which
have only been partially rifled ol their gold by the
unskilled miners ol other days. These otter rich
returns to the scientific miner with his new processes
and e< < >n< ■lilies.
Numerous promising places in the Rocky Mountains
SUNDAY MAGAZINE /> OCTOBER 2. 1904
have been abandoned after superficial, <>r only partial,
exploration; an<l many ol the old and deserted
j,'0!.l mines ol Europe, Australia, Mrxiro, iVru
and India could be made to "pay"' handsoi
by modern treatment ol ores and technical mining
To show the k'reat extent of the economies invoj ed
in the new metallurgical processes (in combination
with technical skill i. 1 will say thai at Kalgoorlk in
Western Australia the managers ol the large
mining properties there not only claim bui have
substantiated T h>- claim thai last year they reduced
the cost of tht ir treatment ol ores no less than twenty
five per rent., to as low a point as sixteen shill
a ton sterling.
Here indeed is money-saving and money-making
progress of the most practical kind in gold mi
We may rest assured thai there will be a .
development ol gold mining in America, particularly
from Texas to Patagonia, m the not remote ful
for all South America is. roughly speaking, a
mine, thai only requires capital, science and lab<
unearth its I
Even the ancient Mexicans and rVruvi
their crude mining methods, wen ■ the
coming of Con
quantities ■ I to enrich the Spanish
■'.■■rors aii'i . th to Spain; and I
than they did could be <\<>'.h- in this ■
Age of great - with the most n
llurgical | i and i >ur ad^ ai
ski!! pa\ ing thi
i j likel y to gi > on mci
oi p 'Id mining and A I 1
be all the rv her and tl tioi
THE, VISION IN THIE, CITY
By CEimvttoim B&sagerfieldl
Swift traffic roars through every crowded street.
And all his life seems wrapped m endless cares.
Yet suddenly to-day the town grows mute;
There are no jostling footsteps on the stairs.
His wide desk fades before him. Thought of gain
Slips from him like the loosening of a chain,
And once again the mellow, harvest ways.
Blurred with the twilight's dusky mist- wreathed veil.
Stretch round him. till again the harvest moon
Lustrous and big with promise, rises pale.
Subduing all his world to silver calm.
Pouring her white rays like translucent balm.
Now Night caresses him with dew-cold lips,
Or croons with cricket voices from lush grass;
And wholesome stars shed down their influence '
As on to homely joys they watch him pass.
Oh. dear, dead days! To Memory's charm he yields.
And. scythe in rest, goes back— through those
deserted fields. *"*
HARMONY IN THE HOME
By Mary Roberts Rineharl
WHEN Susan read the article about teach£»
babies to cry in a musical key by having* 4
tuning-fork hung over their beds, I said that
it might be scientific enough, hut I did not think it
was practicable. But when the twins camr, ani#
they noth took to crying at the same time, the .v.vhfl
discord made me" willing to undertake anything.
So Susan went to the music store one afternoon
and brought home two tuning-forks, one in I; -Mat,
the other in K-natural. Susan said that she took
those two because when they were struck a* the
same time they made a soft, harmonious note that
was almost plaintive But the twins were so tickled
when they heard the things singing that for several
days they stopped crying just to listen, and Susan
thought that the experiment was going to be *a
She seemed to feel so badly that at last I suggest-d '
giving Thomas Aldrich his bottle, and taking John
Augustus' away — this would make John Augustus
yell with a strength of wrath that would entirety
eclipse the attraction of the tuning-fork.
So we tried it. Susai. gave Thomas Aldrich his
bottle, while I forcibly took John Augustus' away.
When he found that his thumb, which he present: y
inserted into his mouth, did not yield any nourish"-,
ment, he broke into a series of wild and bloo"d-curd!i: .;" 4
whoops. I instantly struck the B-tlat tuning fork on
the side of his crib, and held it to his ear. j. ha
Augustus merely beat the air wildly with his feet and
hands and yelled harder. Again and again I stri: fa
the fork, and — was it my imagination? — certar.iy
the tone of his voice was different.
The next feeding time we repeated the experinv •:.:.
Susan holding the fork to Th---. .5
Aldrich's ear. while John Augustus
took his bottle. It seemed to w« fit ' 7
slowly; but Susan has a gift fur keep
ing at a thjng until she has accom
plished her object. For instance, •when
the children had colic at night I stig J
gested taking turns walking the fioor,
each of t:s thus getting a little sleep.
But Susan said that we must do the
thing thoroughly or not at all. So.
while I walked the floor with one o<
the other of the twins Susan 'followed
me. hitting the fork on anything handy
and holding it to the child's ear. *
Sometimes both had colic at once, and
in the general excitement it required
the exercise of great care on Susan's
part not to get the forks mixed. I:
she held Thomas Aldrich's fork to
John Augustus' cur he would ye"
louder than ever.
But in time our reward came. A
twins cried in their especial keys . . •
out the aid of the tuning-fork and then
the colic or a bumped head bee :
not a discomfort, but the source
rather plaintive enjoyment, Espe>
was this the case when both cl
cried together, the B-t!at and E-. :
making a minor. Sometimes £ n's m
clear soprano or my deep bass
join in. j.rotiucing a charming r& *
Then Alberta was bom. Albert .vaa
a good subject from the star: She
was a sincere crier. I nevei : re
saw a child who made such a: 1 . • ;pa
tion of the shedding of tear -~'-.e
would stop in the middle of :'e
to see if she had forgotten h< :1
wake from a refreshing sleep ' .-t
her lung power. Of course Sv.-\ • ..i* 1
delighted. She bought her aY . .1
tuning-fork, and before long .' ".1
would lie in bed by the hour r.g
like blazes in C-natural to drown the xv.-.r k.
People had thought our plan eccentric: 1
they came to wonder and applaud.
When Clara Belle came Susan got her a <• natural*
fork. She was just as adept as Alberta, anil
frequent practice learned quickly, though her
voice was not so musical, possessing that j>.
tremulo which spoils so many good singing
Then the second pair of twins came, and were .
V and A-natural. respectively. One of these :
William Lounsbcrrv. hail a tendency to flat, causing ■>'
a great deal of annoyance. But since he has cut .:
eye and stomach-teeth he is doing much better. •
As we now have almost the entire octave, by differ
ent combinations we can produce different harmoni< s.
Thus, when Thomas Aldrich and John Augustus have
the toothache, and Tiara has pinched her finger, v
shutting them all in the nursery together we have
soft, soothing chord full of feeling: while in the library
where the two youngest twins are being punish* a :■"."
lighting the youngsters next door, we have a tri
umphant note of victory.