THE PRECIOUS METALS.
Reading edition
By David N. Balfour.
From the earliest times to the commencement of the Christian Era, the amount of the gold and silver obtained from the surface and mines of the earth is estimated to be $5,084,000,000; from the latter event to the epoch of the discovery of America, $4,363,374,000 were obtained; from the date of the last event to the end of 1842, an addition of $8,500,000,000 was made; the extensive working of the Russian gold mines in 1843, and subsequent years, added to the close of 1852, $1,400,000,000 more; the quadruple discovery of the California gold mines in 1848, those of Australia in 1851, of New Zealand in 1861, and the silver mines of Nevada and other countries bordering upon the Pacific slope of the United States, added, at the close of 1884, $7,093,626,000, making a grand total at the present time of $26,441,000,000.
The average loss by the attrition of coin is estimated by Prof. Bowen at one-fortieth of one per cent, per annum; and the average loss by consumption in the arts, and destruction by fire and shipwreck, at $9,000,000 per annum. The amount of the precious metals in existence is estimated to be $13,670,000,000, of which gold furnishes $8,166,000,000, and silver $5,504,000,000. Of the amount now in existence, $10,500,000,000 are estimated to be in coin and bullion, $2,000,000,000 in watches, and the remainder in plate, jewelry, and ornaments. Of the amount now in existence, $9,448,000,000 is estimated to have been obtained from America, $1,908,000,000 from Asia (including Australia, New Zealand, and Oceanica); $1,004,000,000 from Europe, and $1,310,000,000 from Africa.
The following statement will exhibit the product of the precious metals throughout the world in 1884:—
Countries. Gold. (America) Silver. Total.
Alaska, $300,000 $30,000 $320,000
British Columbia, 2,000,000 80,000 2,080,000
United States, 30,800,000 48,800,000 79,600,000
Mexico, 1,000,000 30,000,000 31,000,000
Guatemala, 40,000 200,000 240,000
Honduras, 50,000 50,000 100,000
San Salvador, 100,000 150,000 250,000
Nicaragua, 100,000 100,000 200,000
Costa Rica, 50,000 50,000 100,000
Columbia, 1,900,000 500,000 2,400,000
Venezuela, 3,000,000 200,000 3,200,000
Guiana, 75,000 50,000 125,000
Brazil, 400,000 50,000 450,000
Bolivia, 50,000 12,980,000 13,030,000
Chili, 60,000 5,000,000 5,060,000
Argentine Republic, 50,000 200,000 250,000
Patagonia, $10,000 $5,000 $10,000
Other countries, 15,000 45,000 60,000
Total, $40,000,000 $98,480,000 $138,480,000
EUROPE.
Countries. Gold. (America) Silver. Total.
Russia, $22,000,000 $300,000 $22,300,000
Prussia, 900,000 8,000,000 8,900,000
Spain, 70,000 2,500,000 2,570,000
Austria, 950,000 1,500,000 2,450,000
Norway, 60,000 300,000 360,000
Other Countries, 20,000 320,000 340,000
Total, $24,000,000 $12,920,000 $36,920,000
ASIA.
Countries. Gold. (America) Silver. Total.
Borneo, $700,000 $470,000 $1,170,000
China, 600,000 450,000 1,050,000
Japan, 120,000 353,000 473,000
Total, $1,420,000 $1,273,000 $2,693,000
Australia, $26,000,000 $80,000 $26,080,000
New Zealand, 4,000,000 500,000 4,500,000
Africa, 2,000,000 500,000 2,500,000
Oceanica, 580,000 247,000 827,000
Grand Total, $98,000,000 $114,000,000 $212,000,000
The following statement will exhibit the annual product of the precious metals at different periods:—
Periods. Gold. Silver. Total.
A.D. 14, $800,000 $4,200,000 $5,000,000
A.D. 500, 200,000 2,800,000 3,000,000
A.D. 1000, 120,000 880,000 1,000,000
A.D. 1492, 100,000 150,000 250,000
A.D. 1550, 800,000 3,200,000 4,000,000
A.D. 1600, 2,000,000 9,000,000 11,000,000
A.D. 1700, 5,000,000 18,000,000 23,000,000
A.D. 1800, 17,000,000 38,000,000 55,000,000
A.D. 1843, 52,000,000 42,000,000 94,000,000
A.D. 1850, 106,000,000 47,000,000 153,000,000
A.D. 1853, 236,000,000 49,000,000 285,000,000
A.D. 1863, 208,000,000 63,000,000 271,000,000
The following statement will exhibit the amount of the precious metals estimated to be in existence at different periods:
Periods. Gold. Silver. Total.
A.D. 14, $427,000,000 $909,000,000 $1,327,000,000
A.D. 500, 100,000,000 400,000,000 500,000,000
A.D. 1000, 65,000,000 200,000,000 265,000,000
A.D. 1492, 57,000,000 135,000,000 192,000,000
A.D. 1550. 76,000,000 284,000,000 360,000,000
A.D. 1600, 105,000,000 391,000,000 496,000,000
A.D. 1700, 351,000,000 1,410,000,000 1,761,000,000
A.D. 1800, 1,125,000,000 3,622,000,000 4,747,000,000
A.D. 1843, 1,975,000,000 5,040,000,000 7,015,000,000
A.D. 1850, 2,368,000,000 4,963,000,000 7,331,000,000
A.D. 1853, 2,942,000,000 4,945,000,000 7,887,000,000
A.D. 1863, 5,107,000,000 4,945,000,000 10,052,000,000
A.D. 1884, 8,166,000,000 5,504,000,000 13,670,000,000
The following statement will exhibit the amount of the precious metals estimated to have been obtained from the surface and mines of the earth, from the earliest times to the close of 1884:—
Periods. Gold. Silver. Total.
A.C. $2,171,000,000 $2,913,000,000 $5,084,000,000
A.D. to 1492, 3,842,374,000 521,000,000 4,363,374,000
1493 to 1842, 2,700,000,000 5,800,000,000 8,500,000,000
1843 to 1852, 900,000,000 500,000,000 1,400,000,000
1853 to 1862, 1,869,000,000 560,000,000 2,429,000,000
1863 to 1884, 3,145,626,000 1,519,000,000 4,664,626,000
Grand Total, $14,628,000,000 $11,813,000,000 $26,441,000,000
During the first period (prior to the commencement of the Christian Era,) the annual product of the precious metals was $2,000,000; during the second period (prior to the discovery of America,) it was $3,000,000; during the third period (prior to the extensive working of the Russian gold mines, in 1843,) it was $26,000,000; during the fourth period (prior to the double discovery of the California gold mines in 1858, and the Australia gold mines in 1851,) it was $140,000,000; during the fifth period (which immediately succeeded afore-mentioned discoveries,) it was $243,000,000; during the sixth period (immediately succeeding the double discovery of the New Zealand gold mines in 1861, and the silver mines of Nevada and other countries bordering on the Pacific slope of the United States,) it was $212,000,000. The annual products of the precious metals attained its acme in 1853, when it was $285,000,000. The increase in the amount of the precious metals in existence has been greater during the last forty-years than during the previous two hundred and ninety-four. Of the amount ($6,441,000,000) of the precious metals estimated to have been obtained from the surface and mines of the earth, from the earliest times to the close of 1884, $12,100,000,000 are estimated to have been obtained from America $6,724,000,000 from Asia (including Australia, New Zealand and Oceanica), $3,751,000,000 from Europe, and $2,866,000,000 from Africa.