The daily union. [volume] (Washington [D.C.]) 1845-1857, 1854-11-04
rom the Philadelphia Argus
WHAT BECOMES OF TIE GOLD?

When the amount of gold that is monthly received
49, California is taken into consideration, the naturalin-
quiry is, what becomes of t2 The addition from all
sources within the last five years must have reached six
hundred millions Of collars 8hile he gold nea5 vert
rapidly multiplying their proiue,s tappeafed tfatatbs
sphere of and consumption was eorrespondiHgy en-
larged aud while the silver mines were slowly yielding
their results the demand contracting itself to the COM
paratiyey restricted supply The abundance OF the one
metal suggested infinite III manufacturing as well as
larger employment as currency and notwithstanding the
exception of Holland which changed its standard from
gold TO silver all commercial countries In anticipation OF
rise in silver appeared TO have limited their consumption
Of il both In the arts and medium of exchange On
no other principle ii be explained that while the pro-
ductou of the metal has been in seeming excess and the
other in comparative deficiency, taeJ should have erhib
ed the relative commercial value II we measured
gold by silver could arrive at conclusion to any
change in the absolute value Of either metal for either
might advance recede in this respect from the state OF
the demand aud supply respectively We only by com
plrng them arrive any just conclusion to their rela
tive value but il compare either which is employed
the general medium Of exchange, with the bulk of COM
modts taking prices generally the test differences
as to change in tho positive value of either metal cannot
but beaccurae On these data infer that gold has
changed in value neither absolutely relatively, com.
pairing itwith sGr tie use ard consumption Of both metal
having adjusted themselves 10 the state OF tile supply
The Charleston News, from which the above facts are
collected, says:
Wars, according their extent and Duration modify
these effects in several ways Large required for
the military chests OF the begerents which are Withdrawn
from Che channels Of and derange all its opera
tons Hoardng during hoslitics especially if they
expected 10 be protraced is pracsed TO much larger
extent than generally supposed and is much assisted by
the fears Of revolution The timd make their reserves
generally wher they command it. in Che more valuable
metal II will be recolleced that these approximations
have not been absent from the minds of this class per-
since lSia, The sums thrs aprlcd 10 military
peudures and TO holrdug CT course released
peace takes place and fears removed for internal uot
and changes OF government but while war is prolonged
and such fears exist the withdrawal of large amounts Of
treasure in these modes, temporary
in proportion 10 the duration and of the causes
That The channels OF trade will all be than replen-
ishcd ON their cessation needs sagaciiy 10 predict
more difficult office Of provision would be determine
The restoration of peace in what probable range of time
would the supplies of gold, if continued in the ratio
approaching the rate Of Increase for the last Eve years
affect prices universally, and deprccate that metal The
analogy OF otner petods OF increase fails furnish gh
for the solution Of the problem IT occupied one hhhdred
years to deprecate the metals IN the seventeenth century
extensively But changes then slower than with
period and generation, full of invention and general ra
pidty OF movement ia all branches of industry that
promise additions To wealth aud material comfort,
such has been the progress VI the which absorb
large quantities OF gold and such the wants OF
that augmentation Of six hundred millions of dollars in
i've years has produced pcrcepube effect in lowering Us
value We cannot however expect this rate of increase
indefinitely any than can look for the same
Of consumption ia the arts the same nctivity in
commerce But with our inventive power our telegraph
hourly extending It's influence our steam multiplying
every side its riumphs, science activity variety of
combination in genus and art the exemphcaton of the
same economic Hw will be Witnessed Of the adaptation OF
the wants ofsocey IN the future those supplies Of goa
and silver which have characterized the period within which
the recent gold discoveries have been made