Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1853-05-27

espousrd tie cause Of the Country candidate. Our ~
there send US word tha, King william will do her whole duty.
Victory will be her reward.
ALISON's THEORY OF GOLD AND NATIONAL
GREATNESS.
A theory was propounded In Biackw"ods Magazine seVe-
raj months agn in regard 10 the influence exercised 'y inc
con,rac,ions aud expansions of the metal!c currency on 'hc
decline and prosperity of nations, which has been eagerly
welcomed by several journals in This country as throwing d
new and clear light over many Of the most difllcui' pro'lehhs
of history. lii. place where the theory was proposed, rem.
dered the exIilnatiun itself sus picious and furnished a strong
presumption against It's validity; for We should as soon look
for an inteII;r, at comprehension Of financial and economical
questions in ,ur neiyhbor of the Richmond Wing or IN any
other whig,or blue light authority in the prees OF this country,
IA in that rabbi and ultra high.tory periodical, biack"ooa >
Magazine. The poetry OF Blackwood Is often cxqulslts-''s
novels, novellrties and stories admirable-ils belles-iellcfs,
criticisms, especially while under tho superintendent oil inc
original Christopher North, Professor Wilson, most genia'
and at,!ac,ive.-lls sketches charming, but its virulent po-
l;tical declarations, are utterly ridiculous, and lis imam
cial and economical pa pers, superlalisely ex,ravagant. Hence
these sprculalinns in regard 10 the currency Of the world,
and its .ficc, upon the downfall oil States, though striking
and plausible. rom the very simplicity OF HE Interpretation
which they proposed, were doubtiuhy received Oy son
their first exposition; and our faith has not been strengthen
ed by finding that they might be safely attributed 10 the
~crolcheity inspiration OF Archibald Alison, as they re-appear
in full! feather, and with more confident dosnailsm 10 the
recently published volume vf his continuation Of The Histo-
ry o.! Europe.
There ia a II uniting pomposity. and Il self satisfied air OF
philosophical IIcrcnsion abuu, Alison, WHICH may impose
upon many at FIRST blush, bur, which, when once understood'
uIe simply amusing. With a penetration aud proiundity
about equal to Mrs. Trimmets, OF Mrs. Marcers, or any
other lady. like oracle Of popular science, he Hullers about
nothing, plumcs himself about truisms, or struts On the
strength OF superficial v%agaries. with all the pride Of 4 lur-
key cock, and all the ostentalion Of a peacock. In one res.
pect he is admirable, The abundance OF his statistical tables,
and The profusion and accuracy Of his facts; but he retreSes
himself from The imputation oil these virtues By the uee
which he makes, aud the shallow Interpretation which he
gives Of both. Tie conceaIs the pearls OF truth, which he
dingcnIiy gathers IRON all quarters, under the endless piles OF
rubbish which he more diligently manufactures himself
To turn 10 the immediate subject uf our notice. He illus
trates his theory Of the effect OF the currency on the fortunes
OF States BY tho example Of Rome, and says that lis long
decline was due 10 none OF the causes TO which il has been
attributed, bur 10 the exhaustion Of the gold and SHper miaes
in SPAN and Greece, in the age Of the Antontnes. But The
gigantic strides 10 greatness which Rome had made IN her
infancy and youth, were taken under the Inspiration OF n
copper currency, when the coin Of The realm was literally q
pound weight oil brass. Camillus was much nearer Inc rum
when he threw hi sword into the scales and declared - The
Gauls, that iron was the only metal which Rome Kept Tor
her encrnics. Sh- did not obtain possession Of the mines OF
Spain, till the Punic wars and the var OF Numanlia, when
she was already approaching the zenith Of her tamt; nor ol
those Of Greece ill ate. The close Of the Macedonian war,
and the capture of Perseus. But the corruption Of the Ro-
mans commences in the ugc OF Marius; and the decline Of
The rural population and agriculture of Italy, were brought
about, not by Inc importation of grain from Sicily, Egypt,
and Libya, but By the dep0pulat!on OF the country IN me
numerous and saugninary civil wars, aud the insecurity oil
property const qnrnt upon successive prescriptions. The
laws in favor "f population. and in encouragement;
r -u.;- n,,atnI 80 Inlfn.. I'n,ar mi An
gus,us. not by the An,onines. II was no question
Of The produetiveness Of gold and silver mines, which had
derimated sgain and again the Roman Senate, ill julius
Caesar hud almost TO create anew, Ihe body OF the Senator's
but il was the arms and the assassinatiun5 OF Marims and
CHINA, OF Caibn and Sylla, OF Scrtorius and Pcrpenna, Of
Pompey und Cesar himself. The effects which Alison as
signs to the exhaustion Of the mines were in full operation
some centuries before. We DO not question thai the abun-
dance or deficiency Of the precious metals Rnay have IL potent
influence upon The welfare Of States. but wa az Ger
tain that the influence is not so potent; neither is il Of The
same sort as he supposes. The contraction of the currency
OF the Roman Empire. was, moreover, dus much less 10 the
diminution OF gold and silver, from The cause assigned by
him, than to The prevalence of luxurious extravaganza, OF
selfish qualifications, 10 The stagnaton OF commerce, and The
cessation OF sAindustry. The intense pressure Of an arbi.
trary taxation, collected by the most infamous and grinding
processes, the constant internal connections aud baIb1rian in
vasions Of The empire, the rapacity Of the crown and sl its
officials, from the highest 10 The lowest, had much moro 10
do with acccir,ating the decline than Spanish or Grecian
mines. wher immense annual tributes were paid to The va.
rious hord : :. aubarians, whose piundering incursions were
stimulated, - h"r than arrested, thereby; when nearly
all industry was crushed by bad laws, bad government,
and constant cxactions, and production was para!ysed; when
there was a constant riiux OF the precious metals for the
purchase Of the costly luxuries Of The East, AMI the osten Ia
tious eylravagances of the Cnurts, and no domestic product
10 repair the drain on the Empire, il mast have declined and
become rotten 10 its foundations even il il had possessed the
mines of Mexico and Peru, of California and Australia in It's
bosom. The disease was not a local disorder, but II general
and chronic consumption. Ii Alison had studied for.
mer times rs diligently and more impartialiy than he has
studied our own, he would have discovered no authority Tor
his imagination. Tosunius, who processes 10 give the causes
OF the downfall Of the Empire, writing in the fifth century,
and performs his task with some ability, makes no reference
whatever 10 the exhaustion Of the gold and silver mines, bu,
mentions more genera. and efhcacious causes.
II would be easy TO expose the error OF AIison's other
reasonings, butt would be equally tedious and unnecessary.
IL Is true. that a scanty or an abundant currency materially
effects prosperity, especially in times Of great industrial ac-
tivi.y, and in the rise of commercial enterprise. THE mines