The
total production of gold in 1908 was 4,574,340 fine ounces, valued at
$94,560,000. This is an increase, compared with the production of
1907, of 199,513 fine ounces, corresponding to $4,124,300.
Out
of 23 States and Territories contributing to the total gold output 9
showed increases in production in 1908. The greatest gains took place
in South Dakota, $3,604,000; California, $2,476,200; Colorado,
$1,973,400: and Alaska, $1,369,400. Smaller increases were shown by the
Philippine Islands, $219,800, and Idaho, $187,600. Fourteen States and
Territories decreased their production of gold in 1908. In Nevada the
greatest loss was shown, amounting to $3,721,600; Utah showed a loss of
$1,174,900; in the remaining 12 States the losses were smaller, in no
case exceeding $350,000.
The
production of silver from domestic ores in 1908 amounted to 52,440,800
fine ounces, which had a commercial value of $28,050,600. This was a
decrease in quantity, compared with the output of 1907, of 4,073,900
fine ounces, and a decrease in value of $9,249,100. The production was
contributed by 26 States and Territories. Of these 13 showed an
increase in quantity as compared with the production of 1907. The
greatest gain was reported from Nevada, 1,228,000 fine ounces; Texas,
147,700 fine ounces; and California, 113,700 fine ounces. In no other
case did the increase reach 100,000 ounces. In 13 States and
Territories a decrease in the production of silver was reported as
compared with 1907. Heavy losses were shown by Utah, 2,955,600 fine
ounces, and Colorado, 1,345,200 fine ounces. Montana also showed a
considerable loss, amounting to 773,400 fine ounces. Smaller decreases
were reported from Idaho, 330,100 fine ounces, and New Mexico, 198,600
fine ounces. In no other States did the loss reach 100,000 ounces.
The
gold-mining industry of the United States had a successful and
prosperous year in 1908, in spite of many adverse conditions of trade
and finance. Fundamentally this prosperity is due to the fixed price
and apparently limitless demand for the product. The immediate causes
operating to increase the output were in part the removal of certain
abnormal features tending to depress the production in 1907, such as
the partial closing of the Homestake mine in the Black Hills of South
Dakota and the labor difficulties in the Mother Lode counties of
California.
To
some degree the increased production of gold was also indirectly due to
the closing of many mines in the base-metal camps. A tendency toward
increased production by small operators was noted as early as the last
months of 1907 and continued through 1908. Large numbers of miners left
the districts in which the output of lead, copper, and zinc was
curtailed and began placer work or took up leases in gold-mining camps.
The
depression in the base-metal industries did not affect the gold
production except as above noted, for the total base-metal ores now
contribute only 7 per cent to the normal gold output of the country.
The gold from copper ores suffered little reduction, but the small
amounts contributed from lead and zinc ores were much reduced. Both
smelters and refineries drew upon their accumulated stock of base-metal
ores and bullion.
The
silver-mining industry presents a far less satisfactory condition than
that of gold owing to the low prices for silver, lead, copper,
