Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1847-03-31
The following is H Humboldts estimate fthe an
nal nroance of the mines of the New World, at the

The following is H Hunbodts estimate of the an
ual produce of the mines of the New World, at the
beginning of the present century,
Vce-rooalty OF New Spain, S22,0O0,000
Vice-royulty of Peru, 9,240,0O0
Captain eneralship of Chill, 100000
Vice-royalty of Buenos Ayres, 100000
Vice-royally of New Grenada, 100000
Brazil, 4,360,000
S43,53OO00
Mr.. Jacobs estimates the produce of the mines
of Peru and Buenos Ayres, during 90 years, ending
1922 at Els, 100000.
Mr.. Colloch gives the amount OF the precious
metals of the American and Russian mines as fol-
lows: Gold and Silver
Ten years ending 1899, 500, $4,000
1909, 50, 900
1919, 33,99S,000
q. $780, 31,414,O00
Now after looking at all these estimates, taken
from the most authentic sources does not every
see that there is plenty of gold and silver, and
more than plenty for currency. live only want
about 1910 millions for currency, surely or 5
thousand millions can furnish this amount abund-
antly.
1.-THE paper money should be withdrawn the
vacuum would be filled with gold and silver, and
any one can see that there is plenty to fill it
The only difference is, that now, persons who have
$4,000 in money may lend $4,000 in paper
whereas ifthere no paper money, persons would
borrow gold and silver. The abolition of paper
money would not lessen the amount of naoneg in
circulatiots as there is more gold and silver than is
needed for circulation-but the use of paper money
keeps gold and silver out OF circulation and it is made
up into ornaments. The privilege of making pa
per money benefits no body but those who have
the privilege of making it. Those who want to Dor
row money would have to paw more for gold and
silver, than for paper money; SO paper money does
not increase the quantity in circulation; it only
locks up and drives out Of circulation gold and
silver and causes the precious metals to be manulac
tured into useless ornaments
Have not | shown them that paper none is not
needed for circulation?
All the convenences of paper money currency
may be secured by bills of exchange They are
the chief medium of wholesale transactions in the
county OF Lancashire in England, which embraces
the large cities of Liverpool and Manchester and
other large towns The amount of bills of ex-
change in England in 824 was six millions pounds
sterling. Bills Of exchange are more likely to be
drawn where there are really funds to meet them
and they pass by endorsement and do not circulate
as money"
We had intended to touch upon the moral aspect
of this question, and to show that the same duty
which deI Olives upon government TO prohibit lot
tcries and gambling establishments with q view of
protecting the morals of communicated deyoNes
upon it to prohibit banking, for more demorali-
zng system, in all Of its tendencies and effects than
that OF banking, as it has existed and exists,
in this country, cannot well be conceived Of But as
our article is now extended beyond the limits at
first contemplated we must close, leaving this
branch of the subject to be carried out in the mind
Of the thinking reader.