The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-02-13

antiopatons INDUCED in by the ssuguins OF the
sdventursrs and II the hstteripg tales Of hope could
might be led to expect not only an Influx OF wealth
over the American continent, but sudden ana pow
lue Of property BY the precious metals on
both sides OF the Atlantic For tue present., hos-
rs,pt os the mt has bssn more fully dsvs.
Hoped. and the reports, which are nov beth highly
ssnr the mt elves In . sober and authentic
fern Time only can show whsther the discovery
of the New World, lie destined to b. short and tran
siept CLEAN Of fortune to few ncky individuals, or
the opening Of large ana increased sup
at which the gold district was yielding, according TO
the more ssnsune accounts could be maintained for
materially, and distant time quantity OF cir
culsting medium throughout the world But this IL,
question: and all events appears safe to assert
that unless the yield CT the Californian gold fields be-
enormous indeed, the vast amount of the precious
metals already in use Is sufficient to obviste any sud
den and abrubt decls nsion in their value What that
amount is. is matter Of great uncertainty for the
estimates OF different writer's who have published the
Iesults Of their reessrches differ somewhat widely.
n According to the computation OF Mr Jacob, tho
author Of treatise Of considerable repute upon the
precious metals the total value Of the whole quantity
estimates the average supply Of the previous twenty
years ficm all sources at NO more than E5 2s6 800
possession is good deal under that Of Mr. jacob but
according to him, tho annual supply 1t the present
time, is much greater than that sboys stated. The
aggregate produce Of the American mines, Mr.. Mo.
Cuoch puts at &c 0000l0 those OF Russia ct
nearly TIVE millions and ahalfs and those of other
European mines at f76o,o making the total sup.
ply per snnum, about GO CSC 600 Since, however,
the last edition Of tho Commercial Dictionary was
ubiished, the rapidly increased fertility Of the
Siberian mines, the produce Of which has been
sugpt mold within the last ten years must be
deed to the account; and recent Parliamentary 70.
n hcwn ba6 he M n valn Of ha
ouced within the dominions Of the Emperor OF Russia
in the year 1896 to fa4l4429, having been only
does appear to have told with any Improbable
effect upon our standard, and it affords proof how
mel al, may take place without causing peroeptibs de-
probation. Itsbould be observed that the expense
posed BY many persons to bear very large ratio to
The pIots and of course If the expectations OF the
supplies thould continue to be gathered, almost
gratuitCusy, from the surface Of the earth in thst
would tend check the operations, which would then
become longer profitable In Siberia and the Oural
Although ws should be unwilling In the imperfect
state OF infor nation 10 the Caforni work
ings commit ourselves to the assertion that the in
aux Of gold from this will not in any degree
Affect the standard Of our currency are free to
fess that the prospect is which contemplate,
under oil it's ciIcumstanoes with little anxiety No
doubt rudd-n and violent oppression in the value Of
gold bullion, attended as 1t would be- by rapid rise
OF prices and derapging the basis on which existing
man, would be . serious calamity. Such revo-
luton in values would but relieve one class at
tie espsn.e Of smother and it would be the
H", , "a s ,n.at .d".t HMa 40 th.
value Of gold, to which the transactions Of the
S;TraDy, ,, nr h,d US h ;n,,n.d 30
this either an unjust or an mitigation
70 sbs nn;niom ~ ,hoa who r.ra th.t nndr ,hs acs
cf1Sl0 the creditor Of the State obtained unrgh-
th.t. s.nranst,or ~ ~ md,mn, a. wL;.h IT, 80
eminent is pledged to liqudate Its oil legations
rrsdusi ..sm,t ~ r.smananun ttnn.tt..sd '.rnr,u
eraounl result OF permanently lhesraseo supply.
t.i,h IT, ,nn.a ~ az. h,mna ~ 80 nn thaP o.h.,
hsnd IN tho ;nasht.a msmhers q, tbs hsaviiv tad
commpn itv q vonid afford nroorsss,ve rai;sf anS
uoe.bIy an Intimate eStrication from burdens whiSS
veah he avily upon their enerses and which, by the
severity Of their pressure ana ths discomfort which
they OCCASION tend in SEINE degree to endanssr the
These however are after all mere theoretical spe.
culations contingent on events which may never be
realized IT'S perhaps quite rs probsble result, that
Is now taking place may prove not more than common
eursts with the wants OF an extending commerce., and
ces OF the ninetecnth century have SO maryellousy
sSmoisTa. Ns dissot eneet, IN ehnanoins tne ex-
turn out after ali that has been Vsuntsd to BE- psc
cely 1nIeN.
WIN segara 60 tns immsaiats con'equsnces 70 our
new source OF metallic wealth, We may safely predict
theth can hardly fail to be beneficial provided only
That We know how to turn It to the best account III
We are wise we shall leave It to the adventurous gold
seekers the Atlantic to incur as they are only
too willing to do, the psfils and sacrifices, the
revsrses and dissstsrs which according all expert
encs that lie not now likely to be fafed have ever at
tended the greedy and uncSiculsting pursuit OF an
earned opuence-whls. BY our patient industry, the
only true source Of the wealth Of nations We attract
to our shores the steady but stream which
new marke, and an extended demand for all the real
necesearies Of life, must discharge upon them An
active stimulus to production We may reasonably ex-
pecti indeed It would seem to have already begun.
Let US only take warnisg from tie OF the
past-rom the bitter eunerings OK crisis from which
We are put just emergp8-rom the DISASTROUS recoris,
again and sssin occurring In our annus OF popular
ana commercial deiusions that once locked as
plausible as captivating ana as TAR as tbs tales that
are now toio OF Cahiornian enchantments LSsoor-
ety Dc ne Pr. OF our trade ana STABILITY VIII De the
cAAIsctsf'SHc oi our property
England.