These several estimates are of course to be looked upon merely as approximations, and they are, moreover, not framed on exactly the same bases. They, however, agree in the main that the 1899 output of roundly £20,000,000 will be increased to some point between £30,000,000 and £50,000,000 within a few years' time, and maintained thereat, more or less continuously, for periods varying over 45 and 65 years. The production of the several estimates for the whole period gives an average of £37,000,000, which is only slightly higher than that of Mr. Bleloch, which is £35,714,285. This, consequently, is the handsome yearly output which the Rand mining industry offers in the near future--an amount which alone equals the total production of the whole world in 1897--if the circumstances are at least equal to those which previously prevailed. [Illustration: HEAD-GEAR OF THE WITWATERSRAND GOLD-MINING CO. (Photo by Horace W. Nicholls, Johannesburg)] Having advanced the question of the future of the mining industry to the extent of showing a possible gold yield of at least 2,871 millions, spread over a period of seventy years at the rate of between 37 and 40 millions a year, at a moderate estimate, it is pertinent to inquire somewhat into the efficacy of the means for securing this return, the location of anything and its appropriation being two distinct matters. As implied previously, the realisation of this huge prospective gold yield depends upon the circumstances of the industry being at least equal to those of the past. If found to be superior, the ultimate realisation will only be made the more certain. These circumstances may be conveniently classified as external and internal. So far back as the Industrial Commission of 1897 it was recognised that the essentials for the development of the Rand were reduction of taxes and economy in working. The evidence of all the prominent heads of mining groups, both English and foreign, then tendered, in the sum amounted to this. Where the circumstances of a mine are such that they can only be worked at a higher cost than their returns, or with only an infinitesimal profit, either costs must be reduced or the mine compelled to close down. In many cases a reduction of working costs of so moderate an amount as 2s. per ton means the life of a mine, and less than this spells bankruptcy. Where mines had exhausted every effort to reduce working costs, it was also contended with justice that they had established a claim for moral and material assistance on the part of the Government, where it could be properly accorded; indeed, a personal interest, so to say, attached to Government interference, in that the national revenues were jeopardised when mines failed of successful working. The assistances asked for by the mining industry, and which the Government were able to accord, are now notorious, but are worth reciting for the bearing they have on our present subject. They were fiscal reforms conducing to cheapening of