Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1857-05-19

Gold continues IA be exported - fast o
il il imported. Since the commencement Q
the year. the stock Of bullion IN the bAnl
hss continued " be very nearly about xlO.
100000. Once Or twice il has been . trifi,
below that sum, but generally from one u
three hundred thousand pounds above II
So with rare exceptions. about &l0,0OO.0U
wa, the stock throughout the hole of ]
Il VA, never but Tor one week above El2,
100000. and was then in July Gl3.0s3,s5
and was only in eleven week.-fiye 10 Apr
and MAY. and six ia october and Noyembel
below sl0,oOo.OOo the lowest point hay
| ing been reached in the week ended Noy.u
] DER S. when it was e9.53v.l5z. We begin,
therefore,, nov 10 look On 10000. Ouo as
something like the normal or necessary sum
for the bank to hold as in ls5l-52 people
began to think ego. 0O0. 900 the true unit of
safety.
Why the bank. or why any nation should
have u particular quantity OF gold. and why
the people should be distressed or alarmed
as this quantity is not held, and continually
frightened when gold goes away or does not
come IN, more than when any other comma
dity goes away or does not come in, seems
to be one Of the unexplained mysteries OF sd
ciai life and Of mercantile necessities. Let
Us try to explain it.
boid Is ivund only in restricted localities.
and it cannot. like sugar and cotton, and
corn. by any art be increased, according TO
the want OF il, by the labors of mankind.
At the same time it Is indispensable Us the
instrument Of exchange. Latterly u very
great addition has proyidentially been made
to the supply, but the customary law OF
distribution. which obviously forblds it, be
ing hcaTed up III any one place. must con
vince us that We cannot, do what W. may
though the bulk ofthe new supply be found
IN our own terfitory-retain More than our
share. Gold being an article Of which the
quality cannot be increased indefinitely by
labor. ii being more like atmospheric air lot
which every mar and every nation must
have q proportionate share or he dies. than
ike cottons Or woolens (which may be dis
Pcnsed with, or for which substitutes may
be iound) there is a providen;ial means OF
distributing it as well "a. providing a sup
lily.
What our share Of the general supply is
We van only learn from experience but
whatever il mny be, We use all kinds Of
ne.ns-bank notes. clearing houses, banking
accounts bills Of exchange, Gc.-to dispense
viii it as much as possible. Precious as it
Is. We are always trying to lend ar spend il.
Every f~arthing We can spare. We send
abroad to buy things which We regard n
mcr. useful than gold-When.yer it can
he sold to advantage the bullion merchant
sells 1t and at present every person is de
sirous 10 keep his stock "a low AS possible.
All individuals and nations act, as the
rule. on this principle. Only here and there
does u miser hoard up his gold, or, from old
prejudice, prefer To Keep it rather than to
lend it or to use il II j. now u rare thing
Tor a nation or u sovereign actually tn hoard
AS a corporate body. All the mereantil.
cla-7.a OF every Misunderstanding the word in
the most enlarged sense of exchanges-get
rid Of the gold. buying with it other things
,s fast IA they can. Thus all persons are de
-lrous Of distributing it through the world.
and such "A general desire. ike The appetite
Tor food, subserves II good purpose IN til.
economy of society.
On the principle just stated. i, distributes
pretty fairly the rroyidcriiai supply of the
necessary instruments of exchange amongst
all the people and nations Of the earth, ac-
cording to their respective wants. That this
Is for our benefit, and equally for the benefit
II others, is palpable from the exchange, by
which IT is distributed. being in al cases
Voluntarily made. They are made for the
benefit Of the changers. aud confer advan
ages on them our purchasers, bv means
1t gold and silver, OF the corn OF Russia and
he tea OF China. help to promote the civil
atoms oil these distant portions Of the earth
they are approximatins "a condidition that
Ne have already attained or gone beyond
and in which they need for the purposes q
exchange among them individually. th"s.
'"itlons vi the preei"u, metals W.. from 81
perior contrivanc' s-from the bulk of lis b.
~ able To read and write. while many %
them cannot-can dispense with. But a.
ny make more exchanges amongst them
elves, they will advance in civilization
hey will. like Us, have more Ia sell to 9th
II. and thu. the gold and silver which ",
nave bought. and wlich We are continual,
eadiag way to buy goods from them, vii
end to improve them. and make them bet
ter ~neighh"rs and better customers to us.
and all civilized people,