New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-03-25
THE STOCK or GOLD.


It was not our purpose 20 "ridicule" any
body's opinions in respect to the existing state
of the precious metals, as is assumed BY the
Courier and Enquirer. We stated that the
presumption that the stock Of precious metals
had been reduced one half, or from about two
thousand millions of dollars to one thousand
millions, between 1910 and 1850, in the face OF
the fact that the prices of all commodities, ale
fording fair criterion by which TO judge, had
not fallen during that period, but had rather
increased, was preposterous on the face Of it.
The grounds of our Judgment that it is so being
thus stated, and being SO simple as to be easily
comprebended by every reader we cannot be
accused of placing our mere opinion in opposi-
ton to that of the distinguished persons quoted
by the Courier, and certainly not of ridicul-
ing them. We gave what appeared to US
conclusive reason ,ehy such al assumption is
prepOsterous.
The Courier does not enlighten us by its quo
tatiOns Of the opinions of certain distinguished
men on the point in question. We have seen
something very like it all before But il does
state something new when il alleges that Hum
boldt " has given large portion of the last
fifty years to a critical examination of these
subjects" We had supposed that this disttn-
guished traveller and philosopher had given
the most of his time TO other subjects. We
should at least judge so from his voluminous
snd profound works in the domain of physical
science. The wide scope Of mis- researches has
caused him to embrace this subject in his in
vestigations, but he has had no cause to spend
large portion of the last ffsy years in as
pertaining the product of the gold and silver
mines OF the world, or in estimating the existing
stock of the precious metals. A very snail
portion of it would suffice But while we have
read, in times past much of what Humboldt
has had TO say on the subject, we have no
recollection that he has ever advanced any
such preposterous opinion as the one to
which We have alluded Neither do we under
stand that Mr. HUsKIssoS, the co-laborer of
Mr. JACOB, in the production Of his valuable
work on the Precious Metals, or Mr.. Jacob
himself, ever expressed any such "preposter-
GUS" opinion. We have not Mr.. Jacobs
work at hand, but we certainly cannot be mis-
taken in our recollection that he recognizes the
gradual increase in the stock Of precious met
ais from the year 1900 down to the time of the
publication Of his book, now some twenty years
ago. five remember rightly, be estimated tho
stock of the precious metals IN 1909 at not over
thirty-fve or forty million pounds sterling; in
1900 at about one hundred and thirty millions;
in 100 at three hundred millions and in 1880
at about FIVE hundred millions We will not pre-
tend TO be strictly accurate, but We are very
near the mark. Such calculation as this affords
no intimatiOn that in his opinion there had
been, since the discovery Of America, at any
time, rapid decline of the stock Of precious
metals in the world; and in so far as the au-
thOrity Of a name can go, We presume that no.
body will pretend that any one is entitled to
greater consideration than that of Mr. Jacob.
But We do not propose to balance authOri-
ties on the point in question, and have already
said more than we intended. We made state
meBt and gave reason for it. Until we are
convinced our reasoning 10 unsound, tire mere
opinion of others in opposition to cur conclu-
siOns can weigh but little