Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-01-25

lsin 2,260,GG7 80
loll i,aoo;9oi
There is the coinage at tho Mint in Philadelphia,
hon, "A millions of dollars, and is exclusive oil the
hr,ucb coinage for the last years Of the same time;
| on,onn,;ny from 1898, when the branch minis COM
nannd vibrations to S2,74093D, to the 30th of No
vember las,the date Of the as, return From this Il
vii be seen that the experiment has worked the same
,., nm tho coinage on the imporauons of specie.
Jackson found the annual coinage NJ about two mi.
I;on he raised il as high Il, and under the pa
No. money propenses Of the ptesen Administration,
!, has fallen back to little over enc million AL Tins
ro,p The minis will be for sale to the highest bud
dar os so many useless buildings.
Not specie enough in the world to do the business OF
uo conniry What an insane idea. DO people who
,slk IN that way know an thing about the quantity OF
snecis that there is in the world even in Europe
md America and the amount that different nations,
according 10 their pursuits, employ IN their bust
ness, If they do not, lie, them listen to what GAL
/; LATIN and GOUGE say upon the subject, and let
Them learn something which man should know before
he ventures ali opinion upon currency: Mr. Gahat'n,
IN 1881, thus speaks Of the quantity oil gold and silver
in Europe and America:
The ia annnn; Of gold yrcr produced y The mines OF
Aucriea year la, '"-.v"y, and rrmaiunr There ~
eynortrd 10 Europe been rsiitr ~ Gmod AZ about i've
thou sand six hundred n!ion ~ dollars and The product 81 tic
years IsD-rel ematcda hundred aud hfty ml
lions Ito his We add one hun ned millions thc hearty scer.
aimed product et Tia mines uf Siberia, ahnu four
handled and iy millions Aican gold Dust and for the
prod Of the 81 EUROPE trrh yielded ahan lfcc mi
year, hcenhn. ct is c"nlnry from the discovery
Of
existing in Europe PRIOR I" me "e"ey q mere We u 4
widely differing from Tie cl, Of seven thousand tw"
hundred dollars. II i much difficult 10 asct
tam Tie amount winch now enls ~ EntoiN anu n, ,u
eeiher The loss ~ friction and accidents mc'i be estimated
exported hr Cape Of Good Hope; hnt that
winch has heen ACTUALLY! consn.d n gliding plated ware and
imperfect data within reach u may
he affirmed, that The Hnni SIN eAis'tn. "a Europe amd
America certainly Thousand aui most probably ai>
five thousand niion 81 dollars OF The henii q
thousand hr hundred tlIou, which have assumed i
appears that from third q ;%"'i used a currency ana
residue consist. of pa" eri>, aud ohcr manufactured
articles l. known, that ci TIE gross amount 81 Sven tMisAli
hundred million. oi dIe aon eighteen iauded m!iinn>
ooe.iourth OF thc wiolr = 'an I'D "n"lciiye,.h ~
weight consisted OF enA. =: he four tlesand i've ind.ed
millions The rcna;ta annin III gold and SILVER The
India China hasn. 'esn exclusively n silver, and Of
The greater Gaze IN Ireve"iin. very possible waste II III article
Upon this s.alen,nt,sfir Gong,, in his Journal of
Banking, makes The follSssing remarks:
awe begin to-day nth VI. taan's Of the quantity
Nv S h m in ISL entitled Observation-Disclosures on ,hr Currency and
Banking system unic States, he estimates the amount
four thousand aud FIVE thnlsand million dos This viii he
iecclcce years The amount hes since been
sitcia increased, ~ inc- have anhny produced Eii-
hons, and The demand 90 ~ China iadc las been great! d.
rasins The medium hav.v,t Of ,,~ rs sums by
Galiatu-iuus thousand ,ndrei nnina> ii i"m--aud
s,ippo>i, The prpl4t Europe and incuca I" hc Two hun
fr and seventy seven nlfS W. mount !" >'treh '"it
and wards ir "c, ana 'hd - the two CONT
The cenl ";nal-t the wiulc amount Of cur
renc IN III" uiIca states ." isIac aud 'ite together al
onl, : dollars Il lead.
demand had b,en irerired with, the United States
would nave, IN ] !. '"" "t S he conn"
OF Europe Take only The ihe Of the average tor the
populations OF the two cGn It's aud VIII amount 70 hIryrwo
dollars heud fvf hu:,l,sd and fourteen millions This
would neninhra u "a STOCK Of gold and sives ~
rope aud AmoTea White cur Sn @ Snt y ,"r,
W" %@ "5 l,,s s5 , 1S 9
p sr., !s ~: , rs;a q + Sixteen do.,
hsa ~f' Tis Would am. ,wo hSai,sd and i,cssn
n yo noinl, do p.olc that a. some pcna!e} ca2iaiy
first, regard T. The ;' q sad and ,i!Ter ~ NC void
ma ii snair than o., ian.o be- Under sound no,
would prcbal, andy .6 irn II liz ni;r: >ta!cs"
The points on whicn tie statesman ; attention should
be fixed in these sta;enents, are: !. The quanuiy
of gold and silver in Europe and America, 10 W.T., ST.,
5O0OO0G00 9 Our far proportion Of that quantity;
to wit, -? 09p 900, or SIC per head j. Our nao'ty
TO use more than @l0 lead. l. The actual amount oil
whole currencr prpsr aud specie, IN ledo, (wEe
the Back Of The u mr. all its g0y @; and ,S wh'Sn
S. can supply itself wIt u proportion Of the whole
quantity tit pleased unhhSe $40 per head Gf It could
use il, wiicl. it cannol 'o:eyery human being IN the
Union.
it is only single pant taai now propose 10 nus
trate 70 enforce them and IS, as to the inan.y
of money per head which any nation can use. Inns
differs among different nations according to their pur
suits the commences, AMI manufacturing people reqaif'
| ing most becaus' 'hcr payments are daily OF weekly
for every thing they food raimen', LABOR and raw
materials. With agricultural people 1t is less, be
cause they produce most of what they consume, aud
their large parrn"nta make annually from the pro
ceeds of the crops. TYs, England and France eoos!
hiuhly manufacturing Id commercially are ascertanet
to epoy srs" head RSssa ana pnpf
cultural cnun,rv is asccr'ancd 10 employ only four
dollars per heed the 4 $ which is chiefly agricutn
raj. hut with c.'st"'nble admxture Of commerce
and manufactures ten dollars are believed to be the
maximum which ,h.g could employ. In this opinion
concur. | think ,"p dollars per head, ample ave
rare circulation for the Union: and il Is four dollars
more tion we had - l-,0, when the Bank OF the
! United States n The zenith Of its glory
The manufacturing md commercial districts NIGH
require more-all the agricultural States less --ant
perhaps agricultural State without CONNER
cial town. or manufacturers like Mississippi, could no
employ five dollars pT head Here then are the results
Our proportion of tn gold and sve. in Europe and
America is two hurdred and iity-seven millions o
dollars We had hut twenty millions IN 1851: we nave
ninety millions nov: and wonld require but eight,
millions more zone hundred and seventy millions in tht
whole) in tie present state Of our population, slaves
incnded or their lab"s is 10 be represented by none,
and themselves supparied To furnish much currency
and that gold au silver, the country could posi-
bly, use consequently sustaining The prices al labor anf
property Al ,he'r Siinum amount. Of that sum, 70
now have ubon Tin one half in the country, 10 wit u
millions making five dollars per head and that sun
was gained in years OF JacksoEan policy, II io
lows Of course that another years Of the came
policy, would give the maximum supply that sc
could use of the precious metals and that gold and s
yer, and the commerc', bill cf exchange could ther
constitute the safe solS constitutional, o.sl and nc
vcr.iaiing currency Of The Union.
The iuctiiiv with w!.ch any industrious country car
supply itself with n hasl money currency-can lift It
self Of the mud AMI mre of deprecated paper and
mount the high and clean road Of gold and s'lrc: the
ease with which any industrious people can DO THIS
has been sufficiently proved in country, and N
many others We>snw it III the with which the
Jackson policy gained us eighty millions Of dollars IN
&c ven years. We a, The close of the Revolution
when the paper money sunk 10 nothing, ceased to err
culale and specie reappcared rs by magic have ask
ed the venerable Mr.. MACON how long it was atter
paper stopped before specie reappeared at that period
Of our history: his answer No time at all A
soon as one stopped, the other We have seen ii
IN England the end Of the long bank suspension
which terminated in ls23 Parliament allowed the
Bank for years to prepare Tor resumption; at the end OIL