dividing this sum into $3,900,000,000, the outside estimate on the total gold supply of the world, we get as a result 9,796 cubic feet. The next question is, how much space will 9, 796 cubic feet occupy. Instead of extracting the cube root, which would be unintelligible to many, we will do it this way."
And with this he turned to the blackboard and multiplied 22 by 22, and that result by 22 again—thus giving the number of cubic feet in a space 22 feet each way. The result was 10,648.
"You see," said Coin, "a space 22 feet each way, such as I have marked off in the corner of the room, contains 10,648 cubic feet.
The total number of cubic feet of gold in the world is 9,796. So we could put it all in that inclosure, and have 852 cubic feet of space left, which you will admit is enough to box it all in, without requiring any more of the space of this valuable room than the 22 feet.[1]
"This block of gold could be put in the wheat pit of the Chicago Board of Trade," continued Coin, looking down at the members of the Board of Trade who had front seats, "and you could go on buying and selling wheat without its seriously interfering with your business."
With this Coin paused, and another buzz of conversation went around the room. Excited astonishment was upon the faces of all. There stood the figures, and no one could longer disbelieve.
MEASURING THE GOLD.
"I will show you," he continued "how you can test this statement in a simple way. It is best that not
- ↑ A cubic foot of water weighs 1,000 ounces. The specific gravity of cast gold is 19.258. Of silver 10.474. To get the weight of a cubic foot of gold or silver multiply 1,000 by these figures respectively.
