Industrial consumption.—The
total consumption of the precious metals in the industrial arts,
according to the statements furnished the Bureau of the Mint, has been
very much larger during the past year than in preceding years, both in
gold and in silver. The increase has been large both in bars furnished
by the Government institutions and in bars furnished by private
refineries, but especially large in the value of silver bars for
industrial use furnished by private refineries in the United States.
According to the figures presented in these tables, the value of gold
bars for industrial use furnished during the calendar year 1888 was
$13,321,025.46, against $11,072,000.40 in 1887 and $0,031,791.10 in
1880, showing a steady increase each year in the consumption of gold in
the industries in the United States. The value (coining value) of the
silver bars furnished for industrial uses during the calendar year 1888
was $7,908,148.79, against $5,241,998.19 in the calendar year 1887, and
$4,858,323.58 in the calendar year 1886, showing a steady increase also
in the value of silver used in the United States in the industries, but
a very large increase during the last year.