Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1841-11-25
From the Richmond tphig.
GOLD
Its History, Fluctuations, and Present Sourcc

Is the title ola very learned article in the
November Number of the Eclectic Repiec
from the pen of the celebrated traveller ant
mineralogist, Humboldt
That which makes the strongest impress
sion upon the readers mind in perusing this
article, Is the fact, that in every country where
gold has greatly abounded, the condition OF
the people, morally and intellectually, has
been deplorablc. And this precious and idol
lied metal, so far from giving permanent
wealth to its first possessors, has, in a great
majority of cases, reduced them to squalid
poverty. The portions of Asia and Africa and
South America, in which it was found in the
greatest quantities, are cases in point. But the
most impressive instance of its depraving and
impoverishing effects is that of Spain. This
country, when the mines of the New World
were emptying their treasures into its lap,
was the first power in Europe, and the arbier
CT the destnies of Christendom. Its resour-
ces seemed ineXhaustble. But whilst the
process OF draining the American mines was
going on, and Spain, to the casual observer,
seemed surieited with wealth, the magnificent
Charles died, and did not leave enough in his
Golfers to supply his household troops with
suit of mourning. The poverty OF the Prince
the meantime, England, a mere speck upon
the map of the world, without a gold mine,
was rising, as Spain receded-to be first rate
power, both in political influence and national
wealth. She relied upon the enterprise and in
dustry of her citizens, and by these means
reaped the benefit of the precious metals.
which Spain, acquiring without labor, dissi-
pated with Needless profusion and folly. In
the one people, the easy acquisition engen-
dered habits of idleness and waste-in the 9TH
er, the difficulty of procuring it, caused it TO
be husbanded when got and infused habits of
industry and economy throughout the whole
mass Thus demonstrating, that economy
and industry are more important to permanent
national wealth, than all the mines in the
world.
The contrast between England and Spain
the impoverishing effects of redundant wealth
upon the one, and the enriching influences of
industry upon the other, expose the folly of
that class ofpolitico economical charlatans a.
mongst us, who teach that the simple impor-
tation of specie is the surcst index of, and the
best means of creating national wealth. Tho
roughly persuaded of the correctness of this
mschievous iallacy, they have labored for
years to make gold flow up the Mississippi,
and substitute nt It for ihs fruits Of pd
with the results, which all sensible men fore
saw and predicted. Gold has been made to
flow up the Mississippi, it has been oslenta-
tiously wagoned from city to city throughout
the great West, and the imaginations of the
people deluded with the notion of inexhausta-
BILE riches In the meantime, industry relaxed
from its labors, being superseded by a spirit
of gambling speculation-less substantial
wealth was created-commerce was deranged
the gold has taken wings and flown away
leaving behind a worthless paper money,
and the country in much worse condition,
physically, financially and morally, than it
was when these political quacks began to adj
minister their golden potion.
The true sources of national prosperity and
happiness, are to be found in an industrious,
moral people, and without these, the golden
cavern of the Ura Mountains, and the ex-
haustless mines of Mexico and South America,
cannot make them and keep them rich Ex-
perence-the fate of Spain teaches it-and
reason confirms the lesson.