The Sun.
London, England, 1852-10-27 00:00:00

IRISH RACES TO COME.

NOVEMBER.

Kilkenny

THE FRENCH CURRENCY.

The Dibats has the following on the subject of gold,
calling strenuously for a change in the character of the
currency:— .
s.

" Thew assertion that the enormous production of gold
in California, in Australia, and in Siberia, is a transi-
tory phenomenon destined to finish as suddenly as it
commenced, is the romantic exaggeration of an exact
fact—namely, that mines of gold, alluvian mines at
least, become exhausted more rapidly than other
mines. It is necessary, however, to be endowed with
a superhuman dose of penetration to now perceive in
the mines of gold recently discovered, any signs of
approaching exhaustion. Has the production fallen
on in any of the gold regions? By no means; it is ra-
ther increasing. According to the last accounts from
California the extraction has never been more active and
more abundant. As far as regards Russia, the gold is
said to exist there m indefinite quantity, the end of
which it is impossible to foresee. As to Australia, the
strata have been scarcely skimmed, and they are every
day found to be more extensive. In a word, we must
prepare ourselves to see, during a considerable lapse of
time, an unheard of production, which will go at least to
200,000 kilogrammes of gold, making 700 millions of
our gold coin; or, at least eight times greater than
what took place at the commencement of the
century, and that while the production of silver scarcely
exceeds what it was 50 years ago. Suppose that this
lapse of time, during which this enormous production
should last, were to be only 20 years, and that after that
time we should fall back to nearly what we were before,
that would make a mass of 4,000,U° of kilogrammes of
gold which will have been thrown into commerce. It
would be enough to make 700,060.0(10 of our gold 20f.
coins. Can it he conceived that a market ecu he found

for this immense mass cf gold, unleba it is reduced in
vulue, and 12 gramme of it given iu exchange for a
hectolitre of wheat, instead of 6, which is the present
value, or admit the value of the 20f. piece to be
lot.? Let ua now Etty a few words on the outlet which

it is imagined will I found for this unusual production
of the p:eciov.s meal, and which it is supposed will
protect it from tiny depreciation. It is stated that
certain nations, which have now but little in their
monetary system, will take a large proportion of it,
and that ructessing luxury, jewels, gilding of apart-
ments, and gold embroidery will take the rest. This
presumed market has, however, a very serious defect;
it is too di proportioned to the object. In the first
place, set aside the United States, and Russia, which
as gold-producing countries, coin a largo amount
of the precious metal, what nation shall we see
coin extraordinary masses of gold ? On the contrary,
we see governments taking prmiautions against the
admission of too large a quantity of gold into the me-
chanism of exchanges. Holland, Belgium, and Spain have
done this, and other powers will with reason follow the
example; for from the moment when gold is tkreatsned
with a loss of its value it is deprived of its distinctive

quality as a monetary metal, for that quality is,
in fact, a fixity of value. What is the probable
quantity of gold which Russia and the United States
would take on the footing of the present value
of the metal, supposing also that they did not be-
come alarmed ? At the most 600,000 kilogrammes,
even counting what they have already coined, and
very probably less, for that would make more than a
milliard for each country; and they are countries where
paper money circulates to a large amount. When, there-
fore, these two countries shall have absorbed 600,000 kilo-
grammes of fine gold in their ceinage,and probably before,
the metal will fall in value. These 600,000 kilogrammes
aro the production of three years, according to existing
circumstances. With regard to the luxuryryckoned on to
assist in taking off the superfluous quantity, those who
make use of this argument aro badly informed as to in-
crease of consumption in that way. Since. the commence-
ment of the pre3ent century up !,0 this time, luxury has
"Zof gold consumed
ilch as might be greatly
jewellery i n cr
hagea
t, butmc the
increased
as no
sup-
posed. In Engl:nd, the richest country in the world,
there are not more articles of gold manufactured now
than there were fifty years ago. The depreciation in
the value of the metal might cause a rapid increase in
the production and sale of gold articles, if six grammes
of the metal could
,be procured for half a hectolitre of
wheat, or five days labour, which now cost one hectolitre,
or ten days' labour. Everything, therefore, tends to
that depreciation:'

NATIONAL DEFENCE.—We understand that ten
line-of-battle ships, being built,or ordered to be built, in th•
Royal dockyards, are ordered to be fitted with screw ma-

chinely.—herald.
SWINDLING BY A SHIP'S CAPTAIN.--The police
of Paris arrested on Saturday the captain of an English
merchant ship, the Shakspeare, under the following cir-
cumstances :—ln March last the Shakspeare left the port
of Canton, having on board an American. The American
was very badly off, and had no goods; but ho and the cap-
tain concocted a scheme for committing a fraud on a grand
scale. On arriving at the Cape of Good Hope, the captain
presented the American to a commercial firm with whom
he was acquainted, and repreaented to them that he had
on board his ship about 6,000/. worth of goods, which 119
was conveying to England. He also produced vouchers,
which seem ed to confirm the statement. The firm, to
account, giving a draft on their '
American, who
oblige the Ail' .was 11,1Atwhinaelletriocfa_nmothneeny,iangsrureeedd
aoinnod•etrli.irdThoet cargo, and paid at
Shortly after this
agent in
once
purchase
09 no 0
0, rot
hne aboutarcremainder.
mo
at
tofstavHine
fent?),
the Shakspeare set sail; but the Amerioao
the rest of the cargo for about 5,0001.
remained at the
conclude some busi-
n3caspse., on
On the
he
arrivingp re tex
would give up the command of the the captain said he
as the health of his wife, who vessel to his mate,
it necessary that she should' was with him, rendered
steamer, being unable to proceed to England by
bear
in the Shakspeare. But he had previously come to an
the fatigue of the voyage
understanding with the mate
of St. Helena he should sink
or set fire to the ship, in
that on leaving the port
order to destroy all proofs of
the fraud which had been
committed, and also to
A liberal recompense cheat the insurance company.
was promised to the mate for his
complicity. The mate promised to fulfil his share of
the
after the East India stermer touched at the island, and
tat) captain and his wife went on board. There they
met the American, as had previously been arranged.
Lis soon es the steamer etrived in London the Arno-
i lean cud the captain went to the agent of the merchants
of the Cap, and received from him 1,5351., the balance
Otte on the cargo. They then waited for news of the leas
of the Shakspeare, in order to apply to the insurance
office for the amount of the insurance. A short time
back, to their profound astonishment, they learned that
the Shakspeare had entend the mouth of the Thames;
the matt, being an honest man, as it turned out, having
brought her sate home, instead of making any attempt
to destroy her. The two men thereupon deemed it
prudent to fly,. The American embarked on hoard a
vessel which was about to proceed to the East Indies,
whilst the Captain and his wife came to Paris, and
took up their residence in the Champ Elysees. The
agent of the St. Helena merchants, haying learned the
fraud that had been committed, and having ascertained
that that the Captain had come to Paris, immediately
came over here, and obtained, by the interference of the
English embassy, the assistance of the police In a very
short time the residence el the Captain was discovered,
and he was ROL tad.