The Express.
London, England, 1853-03-07 00:00:00

THE GOLD DISCOVERIES AND THE ROYAL

MINT.

A return, which, at the present moment, is of
peculisz interest, has just been issued by the House of Com-
mons. It comprises an amount of ell the monies coined at

• the Royal Mint in each year since 1848, the aggregate
amount of which in the five years was as follows
Of gold coin
Of silver coin
Of copper coin
Total coinage £ 19,839,375
But the peculiar interest which this return possesses is,
first, so far as it shows the rapid progress which the gold
coinage has made; and second, in relation to the recent
scarcity of silver coin, how far it can be traced to the limited
operations of the Mint. For those purposes it is, however,
necessary that we should examine in detail the produce of
each year. In the first place, then, the coinage of gold has
been as follows:

GOLD COINED.

1848 £2,4.51,999
1849 2177955
1850 1,,491,,836
1851 4,400,411
1852 8,742,270
Thus we find that of the entire 19,264,4371. et gold coined
in the five years, no less than 13,142,6811. was coined in the
two last years. In 1848 the amount coined was consider-
able, being 2,451,9991. But it will be remembered that in
the preceding year (1847) a very large efflux of gold took
place, and left the Bank of England reduced to the mini-
mum point at which It could conduct its business. Early
in 1848, a turn in the exchanges and the disturbances on
the continent led to a very large influx of gold, and to a con.
sidercble coinage, in order to supply the place of the coin ex-
ported the preceding year ; and there is no doubt that the
coinage of that year far exceeded the avers ge of the pre-
ceding years. But the transactions of the Mint during the
two last years have been of an entirely novel kind, and have
arisen from causes totally unconnected with our internal
circulation, or with the state of the exchanges between this
and other countries. They have arisen chiefly, and so far
is they exceed the ordinary average, entirely, from the re-
sent gold discoveries in California and Australia, and to
supply gold in the shape of coin, as being more marketable
as some purposes than it would have been as bullion. It
le understood that the Bank has received in little more
than two years nearly 14,000,0001. of coin into its
vaults, and that at the present moment, notwith-
standing the great increase of bullion in the aggre-
gate' that which cenobite of coin is less by half a mil-
lion than at the commencement of the period. So that

it is apparent that, is about two years, a sum equal to
nearly 15,000,0001. has been exported in the shape of
English coin. No doubt a considerable portion, probably
not less than one-half of the whole of this large amount,
has gone to Australia. But it is also certain that a very
large amount, fully equal to the other half, has been ex-
ported to various foreign countries where English sove-
reigns have acquired a certain value as a circulating medium,
and where therefore they have a somewhat higher price
than bar gold. In many countries in Europe, English
sovereigns may he considered as one of the most convenient
coins for all ordinary purposes. In Egypt they have be-
come almost the chief circulating medium. In some of the
South American States, the sovereign is the beet accredited
coin ; and aimed everywhere it has so high a character for
its Integrity, that it constitutes more and more • favourite
mode of remittance.
But it must be apparent that if this state of things in re-
lation to our coin and the demand upon our mint is to
continue and even to extend, the character and
function of that establishment will be entirely changed ;
—sad in such a wa as will render it impera-
tive that the principles upon which its expenses
are defrayed should be reconsidered. Of late the preemie
upon the !dint has been great, and the expenses have been
aomessariiy increased, not as we have shown with a view to
me* en Internal circulating medium, but mainly in order
M attach a new and additional value to gold for the purpose
et exportation. Now, so long as a mint is maintained ex-
elasively for the convenience of the country, so long as it
marks mainly to supply an internal circulating medium, it
nay mitten little whether the expenses are paid by the
patio beta the Exchequer, or whether they are made a
wall dump upset the coin itself. In either case the country
at large bossy the cost of a public instrument of groat con-
venience. No doubt there are many reasons, and sone-
Melly when we require to rectify an adverse exchange, why
it is desirable that the coin of the realm should contain the
same intrinsic value that it possesses nominally ; and, there-
bee, that the cost of the Mint should rather be defrayed,
. as
at present, funs the public exchequer, than by a sewerage
upon the coin.
But if the Royal Mint on Tower-bill is to become a great
manufactory of coins for various foreign countries, as it has
been
i during the last two years, it will soon become obvious
that theres no good reason why the people of England
should continue to defray the coot of that establishment. It
will become a matter of serious consideration whether that
suet should not be defrayed by a charge on the coin equiva-
lent at least to its amount.

The silver coinage has amounted to 561,594/. in the fin
years, in the fallowing proportion in each year :