Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-11-12

Y .cerOVhlly VI
Bucnos Ayrcs 4,7oo,Ooo
Viceroyay nt
New Granada 2,Th,oOo
Brazil 1'bJ,"oo
1870 900 By years=26l ,00O,ooo
The lone continued struggle which re-.
suited i'll 4 separation oi SPAN Fom
the American colonies, caused very
great reduction in the product Of the
mines for many years. According 10
"the returns obtained ny the British
consus IN South America, Of the pro-
duce of the mines at different periods,
their aggregate yield, exclusive OF
the mines OF Brazil and Peru, during
the twenty years ending with lS.o,
was eos 81 SIS; which, estimating
the pound sterling at 81 "a, amounts orc 90, 456
in dollars to
According to this result, the annual ave-
rare product for that period was Sl",-
s20l12, which is believed to nav
been greatly under the true ounhrrf
The returns of the consuls weee nro
Gent in respect to several Oh below
vinces, and present res1p,b for The
the estimates Of Mr.. limited 10 the
same period, which Or NJ tho rate of
sum Of $500, 765,g,ha Ia After alIud-
1898 80 peisse in the annual pro-
ing TO the mines, and to 'the con-
duets OF Quantities afforded By other
raoilffoughout the world, including
mine Hungarian and Saxon mines, the
thssian and Other European mines,
and the mines Of the u. ) the writer
remarks: ave may safely estimate
the entire annual produce oil the Anne
rican, European, and Russo-hsauc
mines ~ amounting, al Tins moment,
1s341 TO about II, 600, 900 year,
which, in dollars, amounts 10 the sum
of S29 ui0 900 per annum Al TINS
rate the whole aggregate OF The pro-
duce OF ihe mines OF The world, Tex
elusive of the African gold dust, and
other sources not mentioned IN tiis
s mo," rsa ,,I amounts Of" to 3l9,44O,OOO
! 1 10 I ,Is sum Of + 6234 ,743,456
mo allowance has been made tor The
quantities retained BY Mexico and the
South American States prior 10 lcOo,
for their own use, which, according TO
MIR. Gal!atns article on Banks and
Currency, published IN The American
Quarterly Review in in 1-iO, where
in he quotes the estimate Of Hum
bodi must have amounted to some
thing near $4,000 0U0)
To This sum there must be added the iol-
lowing items taken from Mr.. Gala
tins article on Banks and Currency,
in the Quarterly Review of 1880, page
I1J:
.The asceriained product Of the mines .a
of Siberia, up 10 the year $3.50 l0oOoo,ooo
The product of the mines Of Europe,
and of the African golo dust, from
the discovery Of America TO the year
1890 aoU,ooo,ooo
sThe amount existing in Europe PRO. ...,
10 The discovery OF America .'o",'oo,ooo
The Grand asccrtancd aggregate supply
of the precious metals al this time in
the world appropriated 10 the uses OF .
man S',Ni,'f",f"o
Screa thousand and eighty four millions seven hun
bred and ior,y three thousand four hundred and fifty
six dollars And this vast sum, sir, is considerably
more than one hundred millions short OF the aggregate
estimate of Mr.. Gaatin ii the article alluded TO- In
that article he estimates the whole stock Cd the precio
metals hand at screen thousand tTo hnhared mi"sonS
Bat may be told that portion OF this immense sun
has been lost BY shipwreck and fire, by wear and tear
and burying secretns in the earth during the war;
and revolutions OF Europe Admit II: and then, on th'
other hand you will find that, in all probability equally
ureat contributions have been made, and are daily be
nr made TO the stock of precious metals, OF winch M
account has been taken. There ARE gold and sve
mines in China of inconsderable Importance, ant
suppes of these metals received from "borneo, Se
ebes, and the Malay peninsula and other SOURCES, Q
which no statistical accounts are gwen
The precious metals not subject to canker or rnsl
they are ndes,ructle III their nature, and, from thei
great value the subjects of great care and soctude
ANY loss Them therefore, in proportion to their guam
liiv must be inconsderaae.
The consumption Of the precious metals in the ma
nulac,ure Of plate ewelry ornaments and Tor all pms
poses of luxury an extravaganza 10 which they are &c
voted is the result Of the vast supply Of those metal
existing in the world The quantity estimated TO b
employed in administering to these vain desires ana lux
ur,ou propensilics of the human heart in Europe
America h"ndred and my PER cent greater fh0'
the ,choic c currency, including both paper ant
co;n used in those two sections OF the world IL i
plan, then that demand for gold and silver Tor pur
poses Of currency and exchange in the u. = would b'
supplied any possible eIcRt, with the utmost fac'i
~ and certainty. The whole amount obtained "onif
finally be withdrawn from these luxurious uSes whou
any effect upon the commerce and trade OF the world
and, indeed, with little no effect upon them.
If the thrty-three millions Of coin in the vaults
The banks of this Union the lst day of January las
were thrown into circulation, and every bank noie
the Union burnt up or banished from cHcu a'on,
would require but the 0nehundredM part OF The stoci
81 gold and silver IN use IN the world 10 supply
tile country with amount OF metallic money equal '
the whole amount of paper then or now III circulation
To have made such allegation rs this short TIM
since would have served but TO excite the rdicue ant
derson Of those who thong they were rtry 'ose; AM
yet, Sir, is true beyond the possibility OF DOUBT
cavii.
There are other important inquiries connected Wit
this branch Of the subject, which would gladly pur
sue If permitted by the limitation Of time prescribed D
the rules of this House. The practical condition oil lh
currency of each Of the civilized nations OF The woria
its proportion in amount TO their trade and population
the proportion of that population engaged active pur
SUITS aud having for currency-the proportion
the population otthe world that is unclvized, mol Ell
gagged in the pursuits Of commerce or trade ana 'ha
IN ve no use for money currency, and the
greater supply of the precious metals for that part
The population Of the world that is civilized and s.
engaged-,oge,her with view of the rast asSfesgaf
of tie annual products Of The labor OF the people oil h
L. S, internal and external, showing an ability undel
the influence ola proper, constitutional policy on TIT
part of The Federal and State Governments, u CON
mand the use Of greater amour, of the precious me
tails, in proportion to population, than exists IN any
other nation of the unvcrsc-constiiute subjects o
inquiry ol inc ucepest interest," ana should engage tho
thoughts Of all who sincere in their desires Tor
form But, sir, the hand Of the clock under the rze
Of the House, udmonshes me that can proceed nj
further in the vindcalon of what conceive TO be h