Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1853-04-02


houses Ireland contained 1885, 1874 paupers in January
1853, they contained only l38764 The outdoor relief
the former period extended 428355 persons
weekly expenditure of Ell, 170 at the latter only
805S persons relieved at weekly cost of eco
The total number of paupers in and out DOORS receiving
relief ls January 1853 at 565 unions in England the
population of which Is, 157505, 731 ,4S8 to
81 The total number in Ireland III, S22 in popu-
lation 6l5 794, or in 4G Again satisfactory
result.
Considerable sensation has been created in the stock
exchange and generally throughout the city by rumors
based upon intelligence said to have been received by the
overland mail of great falling off in the yield Of gold in
Australia The news comes by the way of Ceylon. We
find the following comments upon the subject in weekly
paper
We extract the gold circular of Messrs. Prober Co..
The present unsettled state of the Victoria dggings
of which appear be almost exhausted and others
to be partially deserted by their former occupants who
scattered the face OF the country searching
fields for their labors, has caused small panic
among those who imagine that all the gold fields yet
plored all that exist From the observations we are
enabled to make do not participate in such despond
ing view of things, and while each succeeding escort
brings down less quantity of gold than might be ex
pected from the number of the floating population at the
diggngs, hear that thousands occupied IN pros
pecting and that numbers have wasted time by jour
neying unsuccessfully to reported new fields
ssThe statements in question may be received with some
degree caution butt yet be admitted that's Mel
bourne gold circular ought to be considered reliable be-
cause practical authority. Private letters may
mention, have also been received which, we under
stand refer in still dscouragng terms to the pros
poets of the miners and add that the Governor was in
of considerable anxiety the consequences, in
view of the enormous influx OF population bent upon
visit to the gold fields Under these circumstances the
arrival fthe Sydney steamer daily expected will be
looked for with great anxiety Victoria has hitherto
been the chief dproducing colony of Australia. In
\ 81 %
ligence it must be borne in mind that great difficulty
must naturally be felt in locating vast army as
1000 $4,000 dggers in any one particular spot and
that the secession of large numbers in search of
muneratye, because less crowded 'dggings, is per-
fecty natural movement. The scattering Of large
number of with view to prospecting must also
have the effect of greatly increasing the probability Of
the discovery of further auriferous fields By the
counts received the Cape, for instance learn that
the South Australian gold field daily proving more
reh Further it undeniabe that by the rude
at present adopted by the diggers large portion Of gold
allowed escape and that when practical science shall
have been directed the gold deposte neglected by the
miners, a large yield must be secured"
M. CHEvALIER, of Paris has published most interest
ing essay upon the gold question: which has been trans
lated into English, and widely circulated here The
writer anticipates fall in the value of gold arising from
supply far exceeding any possible demand. He thus
considers the several countervang suggested by
those who entertain views opposed to his own
They maintain that there outlets for all the
gold which the mines and gold fields can supply.
They rely the fact that present several countries
adopting gold the basis of their monetary systems
and they the United States of America and Russia
as examples in point They lay stress on the rapid IN
Of population consequent the protraced peace
which the world enjoys and argue that this increase of
population viii necessitate corresponding demand for
CON- and for the uxuries and ornaments which gold is
applied. They remind that States and settle
mens are being founded regions which have hitherto
like Australia been doomed to solitude We told of
countries still barbarous like the central provinces of
the Russian Empire, which awakening tocyilzaton,
and Of others in decadence like Turkey which being
restored high civilization. Lastly they rely the
general march of progress throughout the world which
is augmentng the comforts Of mankind and multiplying
and extending the refnements of luxury The inevitable
consequence it is contended, must be ogressye in
in the consumption of precious metals in general
| and of gold in particular"
Admitting the presence Of these causes the author pro-
ceeds TO attempt estimate of their power He cal
culaes that the United States may absorb 100000
To Russia he allows wide margin" and estimates her
additional wants at another 000 As for Turkey,
Australia and her dependencies California, Oregon, and
the several regions of Central America eve shall exceed
all the bounds Of possibility if suppose for the sake
of argument what does appear to great exaggera-
ton,) that during the ten years they may absorb
for their metallic circulation G40 900 000 On the sub
ect Of the quantity of the precious metals employed in
particulars showing clearly that the in the
manufacture Of articles Of silver and gold is very SLOW
On the whole the total quantity of silver employed in
the manufacture Of articles Of luxury is rather diminish
ing than increasing As for gold, its consumption has
only begun to rise within the last few years No year
subsequent to 1900 has reached the figure of 1896
which was S,405 ounces. The extra quantity Of gold
required for coinage to keep pace with the rapid increase
of population in Europe Gin ten years might possibly
amount to 10000 kilOgrammes," something more than
e. 000 The amount OF these outlets the author
calculates follows:
Kilogrammes
For additional coin in countries adopting gold
for their currency 100000
For the requirements of the arts jewelry &c. $4,000
For increasing population 10000
In all, in ten years 100000
He thus estimates the production Of gold during the
next ten years:
ave have that the lowest estimate the annual
increase Of production, as compared with 1S47, is
100 900 klogrammes. In ten years it would amount to
| GOO 900 klogrammes IL we deduct therefrom the
above exaggerated estimate Of 100000 dlogrammes for
new outlets there would still remain n clear surplus Of
800 900 kilogrammes worth about three miliards Of
francs Of present coinage hundred and twenty
millions sterling This surplus, which might be limited
for the first three four years. account Of the metallic
drain created by the United States and Russia would
swell rapidly thereafter and would increasing after
the first period Of ten years had expired.
owe may therefore anticipate the arrival on the gene
raj market Of a larger quantity Of gold than can lind
market at the present value of that metal In other
words we may look for fall"
The extent Of the gold fields and the probability Of