there is
ů
better future for silan. If only Berhen
Still me to grow tussen, and Markmaland puitful
in Brand som te up to a 3,
3/4 dollar again
857
THE WORLD'S GOLD AND SILVER PRODUCTION,
In commenting upon the statistics published by Messrs. Wells, Fargo and Co., and recently summarised in our columns, the New York "Financial Chronicle" supplements the infor- mation therein contained, from various other authorities. The following is given as the pro- duction in ounces of gold and silver from all parts of the world in pariods of five years from 1870 to 1890, aud thereafter annually:
Years...... 1871-6
... 1376-80 ...... 1830-5 1368-90
Guld, ozs.
Silver, ods.
28,020,614
71,286,826
26,349,054
78,178,711
24,567,740
82,294,082
20,632,623 ...... 103,883,441
6,103,447
26,989,860
6,762,842
25,091,300
7,291,387
20,886, 151
13.2.94
TELEGRAPHIC ADDRESS,
"CONVENTION LONDON."
DON,"
TELEPHONE No 1180
LONDON
THE
CHAMBER
OF
COMMERCE -
INCORPORATED
No. 25
The Right Honourable
BOTOLPH HOUSE, EASTCHEAP,
LONDON. E.C.
February 12th, 1894,
0.0.
2704
465
The Marquess of Ripon,
FOR USE
JOH. 94
EASTERN
Colonial Office,
No.
ستان
COLON
LONIAL
OFFICE
WHITEHALL.
S.W.
My Lord,
Year 1891
182 1843
With regard to these figures, the "Chronicle" states:
The silver mines of the world are probably in the aggregate turning out less silver to-day than they were a year ago. On the contrary, the gold mines of the world are turning out in January, 1894, more gold than they were in January, 1893. This tendency in gold towards an increased production has indeed been observable for a number of years back. The lowest figures for
for gold were reached from 1881 to 1885, both years inclusive; 1882 showing the smallest product. Beginning with 1886, there has been an improvement- not uniform year by year, but none the less obvious. This increase was considerable in 1891; but in 1892 it was more marked, and in 1893 it has been still more conspicuous.
Of course the main contribution to the recent increase has been from South Africa, which i now stands third to the United States and Aus- tralia, and bids fair to surpass both. With respect to silver prodnotion, the "Chronicle " points out that in the Broken Hill field, which has given the largest product of late, the ore is gradually growing less productive:
Comparing 1890 with 1893, the average yield of the are per ton has decreased nearly 9 ounces, or almost 25 per cent. In other words, while the price of silver has Deen falling the cost of production has been rising, This is what we might call outting the margin of profit off at both ends. That is a very exhaustive process, but it is the recent history of nearly all silver mines. Wo can hardly think in the light of that fuet, and of the less probability in at least all the old fields of the discovery of now and largely productive veins, that under the average price of 1893 the present silver supply can be kept up long.
This Chamber has at the request of the Hong
Kong Chamber of Commerce conveyed to us by telegram, care-
fully considered in conjunction with its East India &
China Trade Section, the avisability of creating a Brit-
ish Dollar, and I am now directed to bring to your Lord-
ship's attention on behalf of the Section the desirabil-
ity of at this time sanctioning a new coin to be minted
in India and to be made legal, tender in the Straits Settle
-ments & Hong Kong, and to run pari passu with the Mexican
To proceed. We should
voon be receiving
an ausrock
from the J.D. This creep
there Papers in prints ciculate there Papers,
can include thaphs.
till ine
information.
Rus 14/2
R. 1572
dollar in the latter,
In venturing to impress upon your Lordship.
( the
}