being worked are exhausted, but few approximate with such exactitude the recent estimates of Messrs. Frederick H. Hatch and T. H. Leggett, both of whom are authorities whose views are entitled to the greatest respect. They have had many years' practical experience of the Transvaal mines, and owing to the uniformity of the yield, tested at a depth of nearly 5000 feet, to which they limit themselves in their calculations, they are of opinion that the gold yet to be extracted from Randfontein on the west to Modderfontein on the east amounts to the almost incalculable total of £1,310,323,000, and that the life of this section is forty-two and a half years. Now, as it is indisputable that South African trade is in the main practically dependent upon the country's mineral wealth, it is not a matter of supreme difficulty to arrive at some definite conclusion as to what effect the extraction of this stupendous amount will have upon its consumptive requirements. Herein lies its supreme significance to manufacturers, and particularly to those who are our countrymen. The experts cited are of opinion that by June 1906 the annual output of gold from this section alone will amount to £30,000,000, which compares with £20,000,000, the estimated yield for 1899, had not the war intervened. According to figures taken from the reports issued by the Johannesburg Chamber of Mines, something like 75 per cent. of the yearly output of but seventy-four of the mining companies producing the £20,000,000 referred to has been spent in the past on machinery, stores, development, labour, &c., which would mean a local disbursement alone of £22,500,000 in 1906 to win the £30,000,000 estimated as the yield in that year by Messrs. Hatch and Leggett. But, according to Mr. A. R. Goldring, secretary to the Johannesburg Chamber of Mines, who bases his data upon information supplied by the leading Rand engineering experts, in 1907 no fewer than 17,000 head of stamps will be at work, being an increase of 11,000 on the number in operation just previous to the outbreak of the war. If the annual output of £20,000,000 involved the expenditure of £15,000,000 on stores, machinery, wages, &c., Mr. Goldring's estimate of the number of stamps that will be at work in 1907 means the disbursement of the gigantic sum of £42,500,000 as the total contribution which the Rand gold industry alone will expend for the benefit of the merchants and manufacturers of the Mother Country and the world at large. If to this estimate be added the expenditure necessitated by the numerous diamond and copper mines and collieries in the Cape Colony, Orange River Colony, Natal, and the Transvaal, coupled with that of the Rhodesian gold mines and collieries, as well as the gold mines in districts other than the Witwatersrand, such as Barberton and Zoutpansberg, &c., a reasonable estimate should place the total disbursements of the entire mining industry in South Africa in, say,