These
figures show according to Mint reports, an excess of gold for the 10
years of $5,485,622, or a difference of not quite 0.6 per cent, but a
deficit of silver production of 3,054,484 fine ounces, or a differÂence
of a little more than 0.5 per cent. The figures for Alaska placers are
not considered to be as closely approximate as these figures, hence the
differences for the United States proper are probably even lower. It is
thought these comparatively small differences are accounted for by the
explanations given in the detailed discussions of previous reports of
this series. For figures of any one year an excess of mining over
smelting and refining, whether of gold and silver or of base metal ore
or of both, is indicated by larger figures in the mine reports for gold
or silver or for both, and opposite relations or excess of smefting and
refining over mining by drawing upon stocks is sugÂgested by the
reverse figures.
UNITS OF MEASUREMENT.
In
measurement of ores and concentrates the short ton of 2,000 pounds is
used throughout. The price per fine ounce of precious metals (gold
excepted, which is fixed by law at $20.67 per fine ounce) is based upon
the averages of daily market prices. The annual average commercial
prices current for silver from 1865 to 1914, inclusive, are given
elsewhere in this report.
PRODUCTION OF GOLD AND SILVER REPORTED FROM THE MINES.
The
following table gives the quantity and value of recoverable gold and
silver output by States reported from the producing mines in 1914 to
the United States Geological Survey. The increase or decrease of
production shows results from comparison with the corresponding Survey
mine figures for 1913.
