CHAPTER X 

 ECONOMICS 



The statistical portion of this book has been left for the final 

 chapter on economics. The author refrains from giving in 

 detail the output of the different metals by states and countries, 

 and would refer the reader for such data to the carefully compiled 

 statistics in the Mineral Resources of the United States and in the 

 Mineral Industry. The order followed in this chapter in the 

 discussion of the economic conditions surrounding the different 

 industries and the output of the different metals is the same as 

 that given in the main body of the work. 



GOLD 



Production in the United States. The output of gold in the 

 United States during the present century has been fairly steady. 

 A decrease of about $4,000,000 was suffered in 1903. A similar 

 decrease was experienced in 1907. This was followed by a third 

 decrease in 1910, and by a large decrease in 1912. 



The banner year was reached in 1909 when the production 

 was $99,673,400. This large production was due to several 

 causes: (1) The tendency to increased production which began 

 in 1907. (2) To a small degree to the closing of many mines 

 in the base metal camps which curtailed the output of lead, 

 copper and zinc, and increased the output of gold by the shifting 

 of labor to the placer deposits. (3) The fundamental cause 

 of the large prosperity in the gold mining industry is the fixed 

 and limitless demand for the yellow metal. 



According to H. D. McCasky of the U. S. Geological Survey, 

 the output of gold for 1912 was $91,685,168. In 1911 it was 

 $96,890,000. The decrease is ascribed mainly to Nevada where 

 there was a falling off in the annual production of nearly 

 $4,000,000, chiefly from Goldfield, but to a smaller degree also to 

 Nation and Seven Troughs camps. The Goldfield mines pro- 

 duced a larger tonnage of ore, but of lower grade than in the 



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