Semi-weekly North-Carolina standard. [volume] (Raleigh, N.C.) 1852-1853, 1853-04-02
g36I,904,7S0
1O3,736,O0O
E465,64O,79O
7.5I2.6ll
Annually,
Or in the twenty years,
GI52,252,22O


Amount at the end Of 1929, 93l3 ,3S8, $50
Or less than at the end of 1909 by EGG GIL ,440
To this it has been objected that the al
owance for gold and silver consumed In the arts and
in manufactures is too low. 1t was computed by
AID am Smith, in his time, at six millions sterling
and now is much more considerable. Mr.. Huskls-
son. stated in his speech the 18th of March. 1880,
that the quantity Of wrought silver plate annually
stamped in England had increased more than twenty
fold between 1904 and 1928.
|, On these grounds, many highly intelligent inves-
gaiors have that the estimats Of Mr. Jacob
should he raised from six to ten millions and the real
deficiency in the supply and stock OF the precious
metals in 1880, as compared with 1910, be taken at
100, instead of at &c millions. From 1880 TO 1850
the deficiency increased relatively TO the demand
arising from the growth IF population and the aug
menation accommodates, and competent Judges have
asserted that in 1850, compared with $780, the de-
fciency was little less than two hundred millions
sterling. They who take this view of the subject,
consistently argue that the yield from California and
Australia must be- immense, if not exhausng before
ever the balance of 1910 can be restored.
Humboldt, who has not yet relinquished his pen,
the first writer who computed the quantity of
.gou and silver extracted from the mines, and he
brought down his estimates to the b ginning of the
present century. NJ. Chevaier has continued them to
1913, the year in which the mines of California
discovered. These are his conclusions:
"The result of my computations in the new world
has yielded. from Christopher Columbus days till
1913, in all 122,o59,724 kilogrammes of silver, q
81, I22 O0O, 900 francs, 085, 100000 sterling) of
gold, the mines of America have yielded 2,9lO,979
kogrammes-whch, according to the regulations of
the French Mint, are equal to IO,02G millions francs
4OI millions sterliDg.) Between the two metals we
get aggregate of 37,I48 millions francs Il ,496
millions sterng.) We must not pass over in silence
the mines of other countries They have, no doubt
been less productive than those of America, still, if
out of tie total quantities produced, only take note
of that portion of them which has found its way into
civilized countries, the item amounts to about six and
a half milliards (26O millions sterng)-namey, @,
$4,000 francs of silver, and about 100 900 francs
Of gold.''
A late volume by Mr.. ]. R. McCulloch, contains |
his views the subject, from which we extract as
follows:
6 The late extraordinary increase in the supply of
gold has led many persons 10 anticipate great incon-
venience from the fall which may be expected TO take
place in its value. But supposing this fall should,
as appears probable to take place in the end,
there is ground for concluding that it will be
brought about otherwise than by slow degrees, and
if SO, will occasion any injurious disturbance
About I4O or $50 years elapsed from the discovery
of America before the influx of bullion from the new
into the old world produced its full effect; and it is
doubtful, considering the vastly improved field for the
employment Of gold and silver whether the supplies
from Siberia. California and Australia will speedily
exercise any material influence. We have elsewhere
shown CFreatise on Taxation, part p that gradual
fall in the value of gold would, in public point Of
view, be highly advantageous.