Will Gold Hold
p. 10 · Read in the full issue
Its Value ?
World Production and the War
IN addressing the annual meeting of Guinea Gold, N.L., in Adelaide re cently, the chairman (Mr. C. V. T.
Wells) referred to the comparative value of gold company shares; and, subse quently, the following interesting figures, showing world production of gold, were made available: —
British Empire— Percentage of Total .. 56.7 57.3 57.1 Additional particulars, covering the past ten years, show that the annual production of gold throughout the world has risen steadily and consistently from 20,836,000 oz. fine, in 1930, to 39,150,000 oz. fine, in 1939. The grand aggregate of world production, for the past ten years, stands at the remarkable figure of 293,831,000 oz. fine.
At the close of 1939, the world’s stocks of monetary gold stood at 896,100,000 oz. fine, and of this total the Central Banks and Treasuries contained 763,900,000 oz. fine, which is approximately 85 per cent.
It may be added that this gold posi tion is one of the most important factors in the war situation. A very large pro portion of the world’s known stock of gold is held by the world’s non-Nazi nations, especially the United States and the British Empire. Hitler, dominating practically all Europe except Britain and Russia, may try to replace gold with some other standard of value.
1937. 1938. 1939.
Millions of oz. fine.
British Empire— Union of South Africa . 11.735 12.161 12.822 Canada 4.096 4.725 5.046 Australia 1.381 1.592 1.640 Other Empire Countries . 2.503 2.723 2.862 Total Empire 19.715 21.201 22.370 Foreign—
U.S.S.R
5.000 5.000 5.000
U.S.A
4.112 4.245 4.565 Other Countries 5.936 6.572 7.215 Total World Production 34.763 37.018 39.150