These
figures show a total production of gold for the United States, from the
earliest mining to the end of 1916, of 185,226,085 ounces, valued at
nearly $3,829,000,000, and an output of silver of nearly 2,307,800,000
ounces, valued at nearly $1,836,000,000. Although the production of
gold was less than one-twelfth the output of silver in quantity, its
value was more than twice that of the silver.
The
average commercial value per fine ounce of silver for the 124 years
contributing to the total domestic production was a little less than
$0.80. Fluctuations in value of silver per fine ounce are shown in the
curve on figure 8. It is of interest to note that the average value for
the total output of silver was reached in 1803. For the years shown
(1871 to 1916, inclusive) the average annual value was above $0.80
before 1893 and has been below that figure every year since.
Gold and silver produced in the United States, 1880-1916.
