The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1852-08-03

purchasing power OF gold, there will
be a rroportionate 'imunition in the
inducemrnt t" seek it. Ii the GUAM
tity of gold were doubled morrow,
a man who is a, present content to
work for one ounce d week, would
then not be satisfied with less than
two ounces.
In the face, however, of these
qualifying circumstances, and Of the
uncertainty of all the assumed totals
that have been dealt with, it will be
plain to most persons that there is
enough to suggest some very decided
ideas as to the main results that are
coming en-. A mistake Of a hundred
millions in the figures one way or the
other would only make difference
of three or four years (where the an
nual supply is at the rate of G30,.
O00,000) in the date of fl filment.
Even if we were to take the whole
.G400,O00,000 Of assumed money as
liable to be acted upon, it would re.
quire little more than fifteen years of
the existing production to cause an
alteration in the relations Of property
Of fifty per cent.
But it is urged that the extraordi-
nary impulse given to trade and lux.
ury by these discoveries, and the
greater prosperity Of the whole world,
will cause an increased demand for
coin for circulation, and vast con.
sumption of both gold and silver in
manufactures aud the arts. 1t is
difficult to see how these conclusions
are arrived at. In California and
Oregon new communities have risen
up, numbering two or three hundred
thousand souls, among whom com.
merce has shown an activity never
before witnessed, and yet few NIL
lions of bullion have sutficed to cstab-
llsh an abundant circulation, although
all the means of cconomislng it which
are usual iii older States, have vet to
be introduced. We have here, there.
fore, o specimen 10 the liu,:.sd tle2
mand that would be created even by
the founding of the miShticst socie.
ties, while as regards more settled
countries. it is certainly mistake to
anp, ose that the requirements for
c"ili increase with tic growth IF com.
mcrciai jutvlligrucr. Where Ger
,oau peasant would hoa,d q few dol
lars, 81 Euglisln an would ,ut the
like amount !nt" a savings i'ank: and
IN the same manncr even oar ,citieSt
tradesmcn. instead OF keeping money
in a safe, resort nos universally 10
SINE establishments ,ha; affords them
tie c"n",nrnc"s IS 4 d,awin5 &C
co.. G.! u.s, ;,,i- q Exchange,
prS'a.H ; ihi'r. c.carn,., "lSr, Cir
c.,.h Il nt,r., thpHry orders rni'lnai
am $ u.u. SHsHu HcE.tS "a |
'..t" ,ur .rapI. ten el- a! ci,iIiz.
Inn :" snpsrse,i" til. i,vc2~sjt. d! a
c"nStant bJrter Il IT, "y.nus met
ais: aud ii !aa, c,en &c .,,G.,o...r!
whether, WIN .hc growth .! unr!ali.
ty and Of '!'I"ctive skill, lhe dan ger
OF forgery, wrich VAS the sole nhj.c
ton Of notes bel, w rs has not ais,
disappeared. AS regards an increas-
ed CONSUMPTION i'll the arts, nming TO
an abundant suppl. the very form Of
the snpp slliul, assumes large alter.
alton IN value tn have taken place.
a reduction Of ten or five yer cent in
such things as gold and silver would
make little difference in the number
of urchasers Of wrnnyht articles, in
which, after all. the manipulation
constitutes one Of the chief elements
Of expense. 1t is moreover against
all experience to suppose that large
demand would be coincidcnt with a
failing market. With possibility Of
gold and silver steadily declining in
value, people would be much more
likely to diminish than to increase
their purchases. This ground of
calculation seems there fore, to have
no better foundation than the other
Any increase Of consumption that
may possibly take place is consc.
quently likely to be altogether of an
unlmportant kind as regards the great
question at issue, aud even if any.
thing Of the sort should be observable
it will probably be more owing to
electro.plating than anything else; an
invention which it was at first thought
would lessen the demand, but which
has increased it by superseding all
inferior materials.
We arrive therefore at the unal.
tered conclusion that the Californian
and Australian discoveries, even al
their present rate Of yield will pro-
duce effects Of II momentous charac.
ter, which nothing is likely in any
material manner to countcract. What
may be Witnessed if further expert.
ence at Port Philip and Queen