Polynesian., 1858-08-21

gold became as plentiful as iron, what would its
value be then! We have no doubt that in that
case very considerable decline in its value
would take place. But, supposing even this, it
possesses such intrinsic value for mechanical and
other purposes,-in its indestructbity, &c. that
Its use would confer benefits upon mankind meal
cuable in their magnitude. The very idea of such
case ever occurring is, to say the least of it, pre-
posterous. The total amount of all the gold pro-
duced since the Creation is supposed to be about
1900 millions sterling, quantity equal in weight
to about Ii 900 tons, and which would form a cube
OF about forty feet in length breadth and depth.
The total quantity of iron produced, and at pres
ent existing, is estimated at 600 millions of TONS
being more than $4,000 times the weight of the
mass of gold, and about $4,000 times its volume
or, again, 100000 and 100000 the quantity fur
nished by California and Australia.
To base an argument on such a ground is there
fore, simply ridiculous and the question finds
ready answer in the fact that iron copper and 9TH
er metals are increasing at similar still higher
ratio than gold. The latter WILL therefore, ever
continue t. retain its prOpOrtionate scarcity.
Gold possesses higher qualities than merely those
required to constitute representative medium.
w hat would be the value of gold were it not EN-
plOyed money! We fancy it would be worth
almost more than at present but will not here
discuss that point its intrinsic virtues are well
known; and. therefore, assert there is no pure
ly fictitious value attached to gold-a something
that might pass away like other modes and fan
ces.
A man possessing mass of gold has under his
control certain prOpOrtlOnate amount of the gifts
Of nature, and OF the actions of his fellow crea-
lures; and the present character Of man must be
totally annlhilated, or undergo complete change,
ere he would lose this power.
Gold is treasure, and in the word treasure lies n
wider meaning than representative or circulating
medium.
&c - "a, =. c.l.o
most difficult and yet highly interesting, problems
in the history of mankind; and we believe it will
remain so: ut any rate, we do not profess to be
wiser than our generation in arriving at it's solu-
ton.
The great body of the earth is composed of many
different substances, each possessing peculiar vir
tues and attributes, and of consequently more OF
less value in the eyes of mortals; and it is our
belief that even beings superior to man would re-
cognize these qualities, and make similar distinc
tons; nay, more, it the Creator himself, who,
IN his Infinite wisdom, introduced these influences
into our sphere and with Him rests tie secret Of
their power.
In the precious metals then recognize the
motive power of all industry and commerce-the
mediator between man and man in their efforts to
nourish, comfort, and gladden. each other. We re-
gard gold the life-blOod necessary to give in
creasing action to the body of the social system
and we deduce from that that any addition to such
an inyigoratng and powerful metallic fluid is a
positive gain to mankind, and IN inestimable gift
Of the Creator.
Here we must stop, for fear our personal enthu-
siasm for the material in question might take i
metaphysical turn.
The gain in gold is, in itself, immense but in
its effects, have said before, it is equally
important. The condition Of society ut large has
been improved by them to a very great extent and
this improvement has gone on hand in hand with
the increasing quantity of the precious metals.
The rapid strides made in industry in the present
century were followed by proverbial rapid in
crease of gold, as if these elements were closely
related.
The gold discoveries gave an impulse to COM
merce and in tustry, followed by u signal improve
ment in the material and social condition of man
kind. Nobody will deny the existence of greatly
improved state of things visible in the condition
of all classes, in England, France, Germany the
United States, &c, consequent upon these large
extra supplies Of the circulating medium. The
manufacturing and agricultural population of Eng
land has benefited by the change the merchants
have become wealthier; property has risen in val
ue; the financial condition of the country has great
ly improved and, but for the late war with Rus
STA and the present troubles In India, with their
attendant evis-increased taxation disturbed state
of trade, Sc.-the improvement in the well-being
of all classes would be still more marked and de-
cided.
The same remarks will apply to France.
Germany, which has enjoyed peace for the last
five years, can likewise point to the better social
condition of her population in general. The poor
er districts wear Il more cheerful aspect; wages
are higher than ever they were before; and the
amount of the precious metals in circulation has
been estimated ut nearly double what it was a few
years back.
In the east of the United States the improve
ment has been quite decided. Since the arrival
Of gold from California, long lines of palaces at
tract the eye in the principal cities, and proper
tionale increase in the cOnveniences and luxuries
of lite, consequent upon the freer circulation of
money, is enjoyed by their inhabitants.
But whatever may be the nOW already percepti-
ble effects of the recent gold discoveries, the
consequences of continuation of the supply, it
is impossible to ignore that they destined to
exercise powerful influence on the future welfare
| of mankind.
The weight and Importance of this cOnsidera-
tion will be enhanced to every thinking mind. when
we assert, that without scarcely shadOI0 o doubt,
both California and Australia will continue to fur
nish gold, in almost the same yearly ratio, for
ysars-aye, for scores Of years to come.
| SAUCE FOR THE GANDER.-A legal decision, in
which all the gentler sex have the prOfOundest
interest. has been lately made in Germany. 1t is
4 Il Al L e ~ 1