"The Rand has at last reached and surpassed the marvelous output of 400,000 ounces of gold as the production for a single month of twenty-eight working days. Every twenty-four hours, then, witness the recovery of 14,250 ounces of gold, worth rather over £50,000 ($243,325). The Rand total comprises only the output of mines along a stretch of some thirty miles of country. With this statement for the month of October, the gold winnings of the whole Republic for the ten months of 1898 amount to 3,700,908 ounces. At this rate the total for the whole of 1898 would be over four and a half millions. [Sidenote: Gold Production of South Africa in 1897 and 1898] The value of the October 423,000 ounces is £1,500,000 ($7,299,750), which may be compared with £11,653,725 ($56,162,743), the value for all in 1897, and £12,208,411 ($59,412,232), the value of the gold production of the United States in the same year. Although the combined mines of Colorado, California, Dakota, Montana, Nevada, and Alaska put out more gold last year than did the South African Republic, it is not likely that the Transvaal will take second place this year. Deep levels continue on the upgrade, as their production in October was 106,426 ounces--the first time that the hundred thousand has been exceeded. The average price of the September production was £3 16s. ($18.42) per ounce." The yearly aggregate for eleven years was: Ounces. Ounces. 1888 .......... 208,122 1894 .......... 2,024,162 1889 .......... 369,577 1895 .......... 2,277,685 1890 .......... 494,819 1896 .......... 2,279,827 1891 .......... 729,238 1897 .......... 3,034,678 1892 .......... 1,210,869 1898 .......... 3,700,908 1893 .......... 1,478,477 The price of gold is a few cents less than $18.50 per ounce. The figures $18.42 often occur. Consul Macrum sent from Pretoria December 31, 1898, a report of the gold production of the South African Republic--the Transvaal--saying: "It must be remembered that this has been a remarkably dull year, so far as ordinary business is concerned, and the mining companies, it is freely said, are not working up to their full capacity; but, nevertheless, the production and profit have been greater this year than ever before. When the differences that are said to exist between the Government and capital have been removed or adjusted, the Transvaal, it is predicted, will see a most wonderful boom." But it must be taken into account that the Boer has a soul above booms. [Sidenote: A Clear and Impartial Statement]