Semi-weekly North-Carolina standard. [volume] (Raleigh, N.C.) 1852-1853, 1853-04-02
THE INcREAsE.oF GoLp.

The general effect of the largely increased sup
plies of gold upon In marke values of spropeTy
real and personal-goods, wares, and merchandise,
has attracted The notice of several prominent writer's
who have given their views thTon gh sthe press /.
NJ. Leon Faucher. French economist, whose pam
Ephlet has been translated by Mr.. Hankey, Governor
of the Bank Of England. 2. Remarks on the pro-
Guction of gold in Australia and California and its
effects. BY Nj. Michel Chevaler. Translated, with
notes, by D. Forbes Campbell. This pamphlet is
in reply to the recent publication by Mr.. Hankey.
According to a late number Of the Bankers Cir
cular, it seems that both Nj. Chevaer and Mr.. Camp
bell have arrived the same conclusion the eff.
feet which will ultimately be produced upon prices,
viz " that the supplies of gold now pouring into
Europe, must, at an early period, occasion an i'm
rise in the price of all commodities " although
he admits that " the enhancement of prices hitherto
produced, has not kept pace with the increasing abun
dance of gold" But he adds, let its depreciation
become perceptible in the rise of the prices of
the necessares of life, of wages, and of rents, and
we may expect to the public suddenly push the
advance in prices much above the point anted
by the augmented supplies of gold those prices
are now, in my opinion, below that point.
The owners of landed property, it is generally con-
ceded, will be benefited more largely than any other
class of persons, by the increased volume of coin.
Mr.. Campbell thinks that the " first practical in
convenience that shall experience from the depre-
citation of gold will be in the British silver standard,
which will rise above the mint coinage &c shillings
per ID. troy" This has been long anticipated
by several writer's the gold question but still
there has been very little advance in the price of sill
though great demand has arisen for the market
in India. So that unlessa very extraordinary demand
should arise for this metal it is doubtful whether its
price will rise so high Mr.. Campbell anticipates
The present price of bar silver in Eng and is 6l8d
per ounce, 4sd below the mint rate of coinage.
Mr.. Campbell thinks that 6 the price of silver will
at very distant date, rise above that rate and that
We shall be obliged to coin the troy pound weight of
silver into SUs. instead Of Cos. to keep silver
coins out of the melting pot. Let US suppose that
such event should take place is it not of the
strongest arguments for adopting hut one legal STAN
dard measure of value the money of the country,
and that the rational should be that of silver "
MIR. Jacob, (recently deceased,) has been censid-
cred one of the best authorities among the public
writer's the production of Gold and Silver.
He estimated the stock of coin in existence in
Europe including Asiatc Russia and America. at the
end of the year 1909, to have been g39O, OO0O 900
and the additions made it between that period and
the end of 1929, the of g5 800 annually,
would make G1O3, 736. 900.
From the 1850, 900, 900 of coin left in 1909, he
deducted for loss by abrasion at the rate of part
in 42O in each year, which in the twenty years would
amount to ELS, 005, 220.
Thus leaving, in 1929, g36I ,904,7S0
Add supply from the mines, 1876, 900