Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1854-01-06
Go,,, and silver.

The extraordinary activity which the precious
metals have evinced in the last two or three years
has been accredited generally to the changing reia-
tive value between gold and silver but our readers
are aware that while we admit the possibility OF
gradually changing relative value between the TWO
metals we have :.seribed the outward How OF Dotn
from the great financial centres rather to the enect
of political than to commercial considerations
merely The first excitement in relation to goid
discoveries doubtless did promote tendency to use
silver rather than gold, in the case OF Holland
but that soon subsidized did the rise in silver which
it had occasioned. Subsequently new state OF
things in the Chinese nsurrecton and the state
of European politics, combined with the large pur-
chases of food by Western Europe. England, also,
has encountered from Australia the same demand
for coin in exchange for gold that the United States
experienced from California during the first two
years of mining operations Although California
and Australia yielded very largely of the raw mate
rial for money the low prices at which gold sold for
coin indicated the want of currency Both of these
demands have been supplied. AS coins In those re-
gons not consumable and the supply being tull
the future productions of gold will be exchanged tor
goods.
The London Economist, from facts within it's reach
states the exports of gold and silver from Great
Britain from January TO November SO as follows:
Gold to Asia Observation-Disclosures. $50. IeS
Silver to ACKNOWLEDGEMENTS. ............ 1926 SAT
Total. ELS, III lss
A consider able portion of the silver has been SEM
China where it was, by the disturbances
in demand for boarding Again the Economist asserts
that the silver in the several treasures of India has
risen 10 R16,OOO, 900, or double the usual amount
IF this b.. soand it is little remarkable that the
! India government shoulI have accumulated such
quantities in face of the active Chinese demand-
would follow that the extraordinary demand equa
to $50 900 OOO has been derived by dsplacing silver
in Europe with newly mined gold. The silver in the
gold that the government limited the issue of five
| franc pieces and the bank pays in gold. 1t is now
supposed, from the fall of exchange in China, thai
the demand for silver has closed. least the
to pay for t-that the India exchequer will undergo
depletion. causing silver to return to England and
Europe, while returning hopes of peace will check
boarding in Europe, and the outward flow Of coin to
Australia cease while gold bullion from both Cali
fornia and Australia will return in create" in
exchange for goods,
If the India government held $4,000, 900 of silver
and the United States government $780, 700 900 in gold
at the close of November it gave an absorption OF
over $1O6 100000 of coin currency which was in
very active demand in both countries. The United
States have paid out considerable money in discharge
of debts, and it is supposed the India government viii
do likewise and in both considerable portion
of the discharged claims owned in Eng land
With the removal of these extraordinary and politi-
Cal causes therefore, the true effect of the sup
plies Of gold and silver will begin to be felt.