Image provided by: University of Oregon Libraries; Eugene, OR
About The Sumpter miner. (Sumpter, Or.) 1899-1905 | View Entire Issue (July 20, 1904)
N-wl Wednesday. Julv o, 1904 THh SUMPTER MINhR WHERE HAS ALL THE GOLD GONE? NearlyThree Billion Dollars Has Disappeared Leav ing No Trace. The Mississippi democratic pint form congratulates the country on au addition to the world's stock of money in the past eight years of $2,000,000,000 in gold, and at tributes this to an act of God through human instrumentality of discovery and invention. Such a declaration will scarcely be accepted Jay the business men of the country as an equivalent of a Bimplo declara tion in favor of the maintenance of the gold standard, but, certainly, the enormous increase in tho pro duction of gold in the past few yearn may well be attributed to au act of God, who stored this wealth in the bills, and inspired men with courage sand skill to discover and mi no it. The increase in the production of gold bns been nothing less thau mar velous. In 1873 tho world's stock of gold waa estimated at $1,208,800, 000. On January 1, 1003, the world's stock of gold was estimated at $5,382,000,000. Here 1b a gain of $4,000,000,000 in thirty years. The Wall Street Journal a few days ago published statistics showing that the gold produotiou since the year 1800 bad amounted to $8,903,400, 000. In all the preceding years since the discovery of America by Columbus, the total productlou was $2,450,800,000. More gold hat been produced since 1801 thau In the three centuries preceding 1800. Of the total production of gold since the discovery of America1, nearly one-half of it has been mined in the last thirty years and of this amount thirty per cent by the United States. But, while the enormous produc tion of gold may well amaze us, the problem of its distribution puzzles us. Where has all the gold gone to that has been produced since the Lydians begau to coin money? Tho world's produotiou of gold since 1873 accounts for all except about 8800,000.000 of the present stock of gold in the world, and tho produotiou from 1800 to 1872 was more than doublo 8800,000,000. Whore, thou, has all tho gold gone to that was mi aod boforo 1800? Apparently thoro is uo traoo of it anywhere, un less it ho found in tho art object in which colt is used. Tho amount of.gold that goes into tho arts and soioueos varies eaob year, and its amount is by uo means easy to determine. Tho director of tho mint estimates that in 1002 tho inscJiistrliil consumption of gold am on ii tod to 87 h, 7 01, 4 00. Tho total production of gold in that year was about 8259,000,000, so that the use of gold in tho arts and industries amounted to a Jittlo over twenty Ave per oont of tho amount mined. Accepting this percentage as a basis for calculation, it would appear that of tho total produotiou of gold from 1492 to 1903, amouutiug to 810. 985,181,000, the proportion that went into tho arts and industries was $2,74G,295,250. This leavbs a bal ance of $8,238,885,750, which should appear it would seem, iu the records vt the world's stook of gold. 13ut as a matter of fact the total stock of gold in the world on the first of January, 1903, was, as has been stated, $5,382,000,000. This leaveB $2, 850,285, 750 of which there appears to bo no trace. Has this vast wealth boon lost in the past four centuries, or is any large proportion of it still in ex istence, a hidden resorve upon which drains may bo made in times of special demand? Various answers, it 1b evidout, might bo in ltd o to such an inquiry. Professor J. Lauronco Laughlin, of Chicago, Inst year hazarded a guess as to the disappear ance of ibis largo sum of gold, which he estimated in 1901 as amounting to $1,500,000,000, but which, .on tho basis of the estimate which we have made for 1903, should bo- moro than $2,800,000,000. Professor Laughlin suggests that tho lmnionso sum is largely held in reserve "by groat fi nancial houses in Europe, and by many other private baukers, the cbaraoter of whoso busiuos does not require them to make public reports of their specie holdings." If Professor Laughlin's guess is correct, this is a fact of onormous importance. One thing Ib certain, that the amount of gold in tho world must be vory much largor than the estimates made by tho director of tho mint show. In view of tho immense uoeds of tho various gov ernments of the' earth during tho next fow yoars, aud of tho efforts that aro hoiug put forth to put China aud Mexico ou tho gold basis, tho probability that thoro is more gold in reserve than appears iu tho recordB should inspiro increased confidence. Wall Street Journal. WILL START SINKING AT THE BLACK BUTTE O. O. Wright, manager of the various Wheeler properties, returned last night from the 'Alack Untte, in Fox Valley. Development Is being caried for ward energetically at this proporty, isys Mr. Wright. The orossaut has reached the first station, from which point the shaft will be started. Cosntruotion work on tho Hluo Bird mill has already started. A foico is now at woik on both tho mine and mill. This is to bo largoly increased at onco. The plan is to oomploto the mill just as hook iih possible, Mr. Wright says. 0. K. & N. SUMMER BOOK. Tho handsome 1901 summer hook, "Restful Recreation Resorts, " issued by tho pussougor dopartont of tho Oregon Railroad and Navigation com pany, is just out. It tells all about tho summering places of tho Columbia rivor valley -a brief description of the trips up and down the Columbia river, to the mountains, beaches, inland resorts aud fountains of heal ing, whore they are aud how to reach thoni. Tho book has a special de signed front cover, printed in two Jcilorp, and tho inside pages are fiplondldly illustrated by ooslty and beautiful half-tones. A copy of this publication may bo obtained by sending two cents iu stamps to A.L. Craig, general Passenger agent of tho Oregon Railroad aud Navigation company, Portlaud. . L. Keuuou, Whitney, Oregon, lumber, sash, doors, shingles, build ing material, mining timbers. , ' Local Option. During tho past few days tho Baker City Herald has had much to say regardiug tho campaign for local option in this county. Yesterday it stated : Petitions aro being prepared and signers will bo waited upon within tho next few days to bring about a voto nt the regular election iu Novombor to determine whether or not liquors will be sold in Raker county. Only four precincts aro oxcopted in tbo petition and this means that many saloons will come under the bau of tho local option law, should it carry. If local option carries all the saloons in the prohibited terri tory will bo closed after January 1 of next year. Two products in Raker City and two in Sutupter are to bo excepted fiom the test au I uo atempt a presout will be made to stop tl.o salo of liquors in these precincts. Pro cinots Nos. 1 aud 2 iu Raker City and North aud South Snmpter pre cincts aro loft out of tho petition by tho local optiou loaders. They day that tho recont oloction shows that Huntington, Durkee, Pleasant. Valley, Haines, North Powdor, and all other places in the country having saloons outside of tho precincts named in Raker and Sump ter aro in favor of local option and thoy are going t:) give them a chance to voto on tho matter. "Thoro will bo bund reds of saloons iu tho stato of Oregon that .vill cease businoss after January I of next yoar," said Local Option Advocate Tufts yestorday. "Twonly-four counties wont local optiou iu the state and the penplo know what thoy are doing. Tho idea that it oarried by roason of the pooplo not kuowiug what thoy were votlug for is a mistake. Hundreds of people have become convinced of the curse of the liquor traffic aud they will go to the polls and vote down its sale. There will be no surmises all over the state after the November election. We have made a close oanvav'ofthe subjoot and we know what we aro doing. We are to call for an elec tion In the territory where we expect to win aud aro not going to mince matters in the work. Wo are going to make a (Ight to win. Aud wo aro going to win iu more places thau we lose." Joo Mikol wont up to tho Cracker Crook district today, whore he is superintending development work ou the Nino Strike. A DM INISTRATRIX'H NOTION. Notice is hereby given that tho ! undersigned, Nellie Riihk, has been jduly appointed administratrix of the j estate of Hantford Ruk, deceased, by the County Couit of the state of Orugou, for the county of linker. All persons having claims against said estate are hereby required to present the same properly verified, to me, at the olllce of Chas. II. Chance, attor ney at law, Sumpter, Maker county, Oregon, within six mouths from the date of this notice. Dated this 29th day of June, 1901. NELLIE RUSK, Administratrix of the Estate of Hunt ford Rusk, deceased. NOTICE TO CREDITORS. In tho County Court of the state of Oregon for tho county of Raker. Iu tho matter of tho estate of T, M. Lavin, deceased. Notico is hereby given by tho uudorsigued administrator of tho ostato of T. M. Lavin, defeated, ta tho creditors of and all porpous hav ing claims against paid deceased, to exhibit (Item with the necessary vouchors within six months after the first publication of this notice to said admiulM tutor, room fi, First Na tional Rank building. Snmpter, Ore gon, the same being the place for transacting tho buslines of paid estate, iu the county ot Raker and stato of Oregon. Dated June 29, 1904. KRED FONTAINE, Administrator of tho Estate of 'I. M. Lavin, deceased. NOTICE OF FORFEITURE. To Olo Llnquist, Peter Soderberg and to you and each of your heirs, executors, administrators, and assigns are hereby notified that I tho under signed, your co-owner of tho follow ing named quartx mining claims, to wit: Tho "Center Star" the loca tion notice of which is recorded iu tho Quartz Records of Rakor county, Oregon, In Volume "M" at page 107 thereof and the "Center Star Extension" tho location notice of which Is recorded iu the Quarta Records of Raker County, Oregon, in Vol u mo "M" at page 198 thereof which notices were so recorded on the 10th day of March, 1899, have ex pended the sum of $100 per claim in d upon eacli thereof for tho years of 1900. 1901, 1902, and 1903, that said sums so expended each jeur was for tho benefit, improvement and development of each thereof and as the annual work, labor, and Improve ments as required by the Iiuvh of tho United States of America and of tho state of Oregon. Aud you and eaoh of you aro further notified that should you fail, or neglect to contribute and pay to me, your co-owner of said claims your proportionate shares of such yearly expenditures, which la the sum of fOO.Ofl 2-3 eaoh, for eaoh of said years above mentioned, amounting to the sum of $200.0(1 2-3 for eaoh or you to so contribute or pay, within ninety days from tho date of tho first publication of this notice, and In caso of you and each of you falling to so pay to me tho said sum, your respective interest iu said quartz claims will becomo the property of tho undersigned as by law provided. FirHt date ot publication of this notice being the 5th day of May, 1004. H. H. ORIFFIN. aBSSgfisSfSasssais CV5 tuif 83 Ci. HOTEL SUMPTER 85 S3 88 S3 a? 5S I S TH E BEST IN EASTERN OREGON $3 W w STLAW HEAT ELECTRIC LIGHT TELEPHONE TELEGRAPH ROOMS WITH .BATH FREE BUS TO ALL TRAINS RATIOS I 1 $2.00 to $3.50 a Day 'i 0 . W. LCVENS PROPRIETOR vo rr :tt2Cft(: ZSiZS rca Zll if reao99lraS2N9S?lt aH;awofrVcosu! u i I