[175] Report of the committee appointed by the Secretary of the Interior to study the gold situation.

The gold mines of the United States are controlled mainly by American capital. A few of the mines are predominantly British, and shares in other mining companies are undoubtedly held in London, but the total production controlled by Great Britain is small. It has been estimated that in recent years 95 per cent. of the annual output was controlled by Americans and the remainder by British.

Over half of the gold mined in Canada comes from the Province of Ontario, chiefly from the Porcupine district. In 1917 and 1918, the Hollinger mine, owned by the Hollinger Gold Mines, Ltd., was the main producer. It is one of the greatest gold mines in the world, having paid over $9,000,000 in dividends up to the end of 1918. The control of the company is held in the United States. Another mine of importance in the Porcupine district is the McIntyre, owned by the McIntyre Porcupine Mines, Ltd., also American. In the Province of British Columbia, the greatest producing camp is Rossland, operated by the Consolidated Mining & Smelting Co., controlled by United States and Canadian capital. It has been estimated that about two-thirds of the gold mines of Canada are controlled by United States capital and the remaining one-third by British capital, including Canadian.

Table 68.—Financial Control of the Gold Production of the World, 1917
(Percentages are only approximate)

CountryProduction
1917
(in dollars)		1917 Production controlled financially by—Remarks
United
States		United
Kingdom		FranceBelgiumJapanChinaRussiaBrazilTotal
Allies		GermanyMexicoUnclassified
North America:
United States$83,750,700$79,563,165$4,187,535..................$83,750,700.........95 per cent. by United States capital; 5 per cent. by British.
Canada15,200,00010,000,0005,200,000..................15,200,000.........66 per cent. by United States capital; 33 per cent. by British.
Mexico9,000,0002,700,0003,600,000$900,000...............7,200,000$900,000$900,000...Capital control: British 40 per cent.; United States 30 per cent.;French 10 per cent.; German 10 per cent. and Mexican 10 per cent.
Central America3,122,000750,000750,000..................1,500,000......$1,622,00050 per cent. by natives; 25 per cent. each by United States and Great Britain.
South America:
Argentina4,600.................................4,600
Bolivia115,000.................................115,000
Chile200,000200,000.....................200,000.........
Brazil2,958,000...2,662,200...............$295,8002,958,000.........90 per cent. by British capital.
Colombia6,200,000620,0003,000,000900,000$620,000............5,140,000......1,060,000Capital control: 50 per cent. British; 15 per cent. French; 10 per cent. Belgian;10 per cent. United States; and 15 per cent. local.
Guiana:
British600,000...600,000..................600,000.........
Dutch400,000...125,000125,000...............250,000......150,000
French1,500,000......1,500,000...............1,500,000.........
Peru1,300,0001,300,000.....................1,300,000.........
Other S. America1,357,000.................................1,357,000
Europe:
Austria-Hungary[176]2,179,000...........................[176]2,179,000......
France700,000......700,000...............700,000.........
Germany[176]135,600...........................[176]135,600......
Great Britain5,000...5,000..................5,000.........
Italy2,000.................................2,000
Russia and Siberia18,000,000...9,000,000............$9,000,000...18,000,000.........Large part of Russian production probably controlled by German capital. Situation uncertain.
Serbia[176]328,000.................................[176]328,000
Sweden10,000.................................10,000
Turkey[176]500.................................[176]500
Asia:
China$3,600,000...............3,600,000......3,600,000.........Probably controlled largely by Japanese and other foreign capital.
Chosen (Korea)4,444,000$2,500,000.........$1,944,000.........4,444,000.........Part of production credited to Japan controlled by British.
Dutch East Indies2,818,000...$2,100,000..................2,100,000......718,000
Federated Malay States342,300...342,300..................342,300.........
French Indo-China50,000......$50,000...............50,000.........
Japan and Formosa5,595,200............5,595,200.........5,595,200.........
India and British Indies10,756,800...10,756,800..................10,756,800.........
Australasia35,945,500...35,945,500..................35,945,500.........Before war considerable capital controlled by Germans. Small blocks now owned by Dutch and Belgians.
Africa:
Belgian Congo2,000,000500,000......1,500,000............2,000,000.........25 per cent. by American capital.
Egypt and Sudan150,000...150,000..................150,000.........
German East Africa[176]253,200........................ [176]253,200......
Madagascar1,000,000......1,000,000...............1,000,000.........
Rhodesia14,988,600...14,988,600..................14,988,600.........
Transvaal186,254,256...167,629,25618,625,000...............186,254,256.........Before war controlled in large part by German interests. At present: British, 90 per cent.; French, 10 per cent.
West Africa (British)7,435,488...7,435,488..................7,435,488.........Probably all controlled by British capital.
Undistributed2,785,656.................................2,785,656
Total (1917)$422,590,100$98,133,165$268,477,679$23,800,000$2,120,000$7,539,200$3,600,000$9,000,000$295,800$412,965,844$3,467,800$900,000$8,152,756
Total (including 1913 figures)$425,486,400
Per cent. of world production10023635.60.51.70.842.10.0796.810.810.211.9

[176] Production in 1913. Later figures not available.

The gold mines of Mexico are owned by British, American and French capital in the order named. The principal mining companies of the El Oro district, the leading gold district of the republic, are El Oro Mining & Railway Co., Ltd., Esperanza, Ltd., and the Dos Estrellas Mining Co. British capital controls El Oro Mining & Railway Co., Ltd., and 51 per cent. of the shares of Esperanza, Ltd., the remaining 49 per cent. being controlled by Americans. The French have been acquiring control of mining properties in El Oro district in recent years. They now own Dos Estrellas Mining Co., and the Mexico Mines of El Oro, Ltd. Both companies were previously controlled in London. The Dolores mine, in the western part of the State of Chihuahua, one of the famous gold mines of Mexico, is owned by the Mines Company of America, an American corporation.

Fig. 21.—Stocks of gold in banks, public treasuries and in circulation in principal countries of the world in 1916.