The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-01-09

London, ana OF every town in the kingdon-to the
boasts framed print, or picture or mirror-to the
gold lettered back Of almost eyerv hook that II
published, or bound-io the new gold and silver
government, and the large quantity known 10 be-
in use-to the pockets OF the male populstion az
the Kingdom carrying watches-to their wives
wedding and other rings, and their own similar
proofs, which can only have escaped our contem.
porary because they are 80 common.
[Fron the London Sun, Dee ISL
The recent transatlantic intelligence. under the
date OF New York, November 26th, informs US that
"the arrival Of gold from California continued to
Iegss dos and that the receipts Of the week had
sterling In order to estimate the real productive
ness Of the "diggins," il must be borne in mind
that the above enormous sum represents but q
small portion of the gold actually collected-what
had been sent to one port alone-withOut taking
into account the sums transmitted to Australia to
China, to England, OF to any Of the nations Of
passengers, who, having realised fortunes, were
fastening to enjoy the fruits of their good luck
the precious metal became deprecated in distant
countries as il has already become in the neghbor-
hood Of San Francisco. Nor did it infringe upon
the large and continually increasing amount retain
ed in the country itself, for the purpose Of an in
so 900 100000 PERSONS procuring and bringing to
light from half an ounce to an ounce of gold each
per demon an average, and living pretty nearlyHup
to the smaller amount, would send away their gains
use, to fall back upon in the event Of any failure Of
the supplies. or their being debarred from further
search by the interference either of Indians or OF
the American government, which. now that Cali
fornia has been formally admitted into the Union,
may probably adopt some energetic measures to
secure monopoly of treasure hunting" to those
who owe allegiance to the stars s and stIiPes
is therefore but small part, certainly mot moicty
of the sums actually realised, and yet it is equiva-
lent to EGO 800 900 per annum, or rather more than
ralA Id TINA
by all the mines throughout the entire globe, or
which, according to the views of the bulllonsts,
can be required TO provide for the wear and tear Of
the precious metals and the increasing population
of the world. 1t requires no extraordinary powers
OF vatcination to perceive what must be the in
evtable results of this enormous addition to the
stock of bullion. Although many years must
elapse before the natural consequences OF the
chance can be fully developed, lit took more than
half century after the discoveries in Peru and
Mexico before the great depreciation in the value
of coin WAS apparently its effects are already be-
coming perceptible, and they must become more
paIpable in every successive year.
The great and sudden appreciation" in the
value of silver, and the increased demand for it ia
every market, are the first symptoms of the change
The relative proportions of the precious metals have
been altered and as the quantity OF gold increases,
and the amount of labor required for its produc ton
is reduced, so must its value diminish; and there
must oe a continued depreciation go long as the
existing causes continue IN operation. The
change hitherto has been little more than three
per cent; butt must be borne in mind that ii h Is
been the fluctuati0n of few weeks only, and it is
about what the ascertained arrivals OF gold from
California up to this period would most probably
occasion. In order TO AVOID any controversy IN
the premises we shall take our data from the great
organ OF the moneyocracy, the Itnics, whose as
sertions will not be disputed by any bullionist.
The Times, then, has recently estimated the
amount of gold received from California at
Gl0, 600 600 sterling, and il has further declared
that sees little reason TO doubt that similar sum
will be obtained each year from that coantry. 1t
Of world
ESQ, 00,000 sterling. As we may suppose that
the ordinary supplies from South America. and
from the Ural mountains have not been with
drawn, and that the only disturbing element has
been the golden stream from California the addition
OF 9l0,O000 900 TO the former stock OF EsO 900 900
should produce, as nearly as possible, dimiauon
in its value of per cent, and this is, nearly
possible, the amount of the change. Silver having
improved from 59ad to 81 Id, according TO the
Times calculation, there will be further addition
OF Gl0,OOO,OOO sterling in gold IN each and every
year; this must, in like manner, produce further
decrease in the value of gold, or increase in the
value of silver (the terms are nearly convertibc)
Of three per cent per annum. This will lead TO
Depreciation" with a vengeance How will
" the integrity Of The standard" for which the
nation has sustained so many serious trials, be
preserved what will speedily be the state of our
oreign exchanges with nations that continue to
preserve The silver currency, when their circu-
atng medium is increasing, and ours deterioratiug
in value day after dayl These are iuterrogatories
requiring distinct and categorical answers. The
consideration cannot he evaded or postponed. The
imperative necessity Of a speedy settlement OF the
currency question is rendered more manifest than
ever. The moneyocracy will ut length begin to
perceive its propriey But they desire that these
interests should be at all regarded, they must seize
the golden opportunity that still remains. An
equitable arrangement is stIl practicable II il be
long delayed, they will be the chief suilerers The
industrious classes will not forget how strenuously
they have insisted upon the letter Of their contract,
in fetal disregard Of its spiIi; They have demand
ed their "pound of nssh"-perhaps they may
speedily be required TO accept IL, being at the
same time reminded that they cannot take with II
single drop OF blood" They will receive
their dwts grs. Of gold. without any regard to
its purchasing power or command over the neces-
canes or comforts Ct life.
Miscellaneous Paragraphs from English
Journals.
STEAM " FRAScE.-The latest returns of the
number ~ steam engines employed la France in
tac'oIiCs, steamers and on railways, give the fol.
lowing resultsi-Thtfe are, in France, 5,6O7 es.
tabsbments Of yarinus kinds, AT whch'steam en-
Pues are used. This machinery 10 worked by
means Of =. 2s5 boilers, of which S,776 have been
made in France. The whole represent s., 121
horse power The number Of boilers employed the
preceding year was 5 o23; the number Of estab-
lisfments az which steam engines were employed
being then t.n33 The length Of the railways now
open IL 2 Ill kilometres q 1857 Englsh miles) and
The number Of locomotives on Ibem is 72j, or So
moTc than The preceding year. The number OF
steam vessels il 27o SET in NOV inen by mschinery
Of Z,Ss3 horse power. The quantity Of goods
earned ia them during the year was ,9iS tons,
WINE thet ~ the yeef before was bJO BOO tons. IL
"a calculated that all the steam machinery now at
wois in France represents 10. us horse power.
MARvELs or TBE CORNISH MfsEs-Some Of the
mines are tIuy grand undertakings. The CONSOLE
dated mines, the largest OF the Cornish group, EN-
ploy upwards a 3 600 persons One Of It's engines
pumps water from direct depth of 600 feet, the
weight Of the pumping apparatus alone being up
wards of 500 toas the prmpng rod ia l,7i0 feet
long. ard il raises about 2 900 600 gallons OF weter
N week, from depth equal 10 five times ths
height q 50. PanPs. These are, indeed, wonders
TO marvel IL. The consolidated and uaited mines.
both belonging 70 one company, ere stated to have
used the following vast quantities Of materials in a
yeari-Coals, 1870 tons; candles. 1872 III lbs:
gunpowder, $1,000 lbs leather, for straps, SC,
1898 lbs pick and shovel handles rs eg3 dozens
Sir Charles Iemnn haa esiinn hfed int In he