Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1853-02-02
From The Boston Courier, Jan. 25.
Increase of Gold.

The constant influx of gold into Great Britain
from Australia and California is drawing inc. cas-
ell attention to Inc subject of general finances, &
the effect of universal expansion OF the currency
in commercial nations British writers, however
are by nomeans OF one mind i'll their judgments
as 10 the future and permanent consequences of
this apprehended change i'll the basis of property.
Mr.. Alison, the historian, who has written some
elaborate essays this topic, regards the discove-
~ OF the new gold mines as the greatest blessing
conferred by Providence on the present generation
of mankind, who, according 10 his arguments. have
thus been saved from commercial ruin and popular
suffering fthc most Tremendous magnitude. On
the other hand, there writer's, familiar with
monetary and commercial affairs, who feel alarmed
al this sudden increase of the precious metal, and
argue the most sinister results.
The London Shipping and Merchaatilc Gazette.
says
From what Is already known OF the produciion
of the Australian gold fields, inSuiciently and un-
scientifically worked they yet are, we shall not,
perhaps, be much in error, i'll estimating them to
produce from Els, COO, 600 to 100000, 900 annual
~ for the next few years. Should that amount
lind its way TO England, as ii las hitherto DONE it
is difficult 10 understand what IS 10 be done with
IT, or TO predict what the effect be upon the So
cial system OF the country. Wemay, perhaps, be
singular in thinking that, at the present moment,
England is suffering under plethora of wealth;
this, we think, is shown by the low rate Of interest
which money commands
The London Journal of Commerce, says:
u
prosperous, inaSmuch as trade and manufactures
have full employment, and that labor IN most
branches is IN su cient requiStion at reasonable
rate OF wages There are many, doubtless, who
consider that country must be prosperous, which
has nearly twenty-on millions Of Unemployed
that is, OF acknowledgement in bank. We, how
ever, are not amongst those who think so; on the
contrary, 1t is not without alarm that we observe
the vast increase of gold in the country
The London Times, in long and elaborate fl
nancial article, has the following remarks:
Geld, after its production, soon Lecumes equal
ly distributed among the nations of the earth and
exercises corresponding influence upon prices in
all parts its effect, however, in the first instance
must be felt with the greatest power in the coun-
try entrusted with its distribution. 1t is from that
quarter that the impulse 10 surrounding communi-
lies must proceed, and hence it makes n comsidera-
Bile difference as regards the nature of the nmedi-
ate investments into hich the treasure likely to
find its way, whether it is dug up in Australia or in
California. d..
For the past three years. it has been seen that
the home demand for the American securities has
been beyond all precedent, and that although new
railroads and other undertakings have been brought
out IN that country day by day-So to lead cas-
ual observers, unacquaintel with the causes in op-
Grafton, to put forth inceSSan predictions of crI-
S!s-they have been steadily absorbed, the New
\ OK money market remaining easy al this mo-
ment as al any period within recollection. Hence
forth, a similar result, but apparently i'll q much
more extended degree, must be expected here
hatever turn events may take, however, the fact
is certain tha' while the Australian discoveries
must mpart activity TO every portion of the world
their first great result either in the shape OF di-
rect remittances of profits from the trade, will be
felt IN London, and that gathering of capital is
consequently TO be expected, which will cause
rapid demand forall descriptions of securities
From the above statements, it would appear that
everybody in England expects that something will
happen in consequence ofthe overflow OF gold, bu
whether it is TO be something good or something
evil, is what those who affect to be wise in such
matters are not agreed upon. Thus far, to say the
least OF it, there appears to have been no caamit-
Gus effects produced in Great Britain, by Austria
liam discoveries.