The Production of Gold in Australia

GOLD has played a part in the development of Australia. The total yield exceeds SIX hundred million pounds sterling, while the glamour of gold-mining and the unfailing demand for the product have enhanced its influence. The production is still considerable, but the yield is less than one-quarter of that twenty years previously, while the number of men employed has dropped from 70,000 to 11,000. Not only has there been a marked decline in production, but it is anticipated that thisdecline will continue, and continue more markedly. It is therefore desirable to ascertain the causes of the decline and inquire into means for diminishing or preventing it.The problem under discussion is far from being only local. Finlay states: The grand feature of the history of the business has been the progress of an economic cycle unfavourable to gold milling. The USA yield fell from $101,000,000 to $44,000,000.South Afriea has for some time produced one-half of the world's gold; yet in the Mining and Scientific Press of 11th February, IH22, General Smuts is quoted as saying that if the premium disappeared entirely 24 out of 34 mines would shut down. The solution, however, might be either general eg, a great advance in the metallurgy of gold; or local eg, a bonus; but before discussing any of the proposed solutions it will be advantageous to review the situation.STATISTICS OF THE PAST AND PRESENT PRODUCTION OF THE WORLD AND OF AUSTRALIAThe inquirer soon finds that there is a good deal of uncertainty, and that much care is needed in collating figures. In some cases a considerable part of the output is not officially reported, and returns...