Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1859-09-16
Gold and silver.

Gold and silver.
Late arrivals from Mexico have brought within
short period to Brownsville and New Orleans as large
sum as two millions of dollars in silver The Mexican
mines of silver would have yielded treasures nearly as
large as those of gold in California and Australia but
for the scarcity and high price of quicksilver The I'M
pediment there is every probability, will be soon reno
we'd. The West will then furnish those boards Tor Chi
ma and British India which the minis OF Western Eu-
rope particularly that OF France have been supplying
Whenever this takes place gold must fall IN value 1t
will to yield the profit on its production which 1t
now bears. Long before the decline indicated by M.
Chevaier so per cent it will change its present rea-
ton to silver and commodities in general.
A adjustment will take place founded on the COM
paratve expense and gain in applying capital and labor
in the production of gOd and their application IN pro-
ducing other commodities in the gold producing coun-
tries Let US imagine that gold from oversupply,
should fall % per cent in value-n other words, would
not bring than twelve dollars per ounce which
is the thing, would not exchange for as large
share of commodities before by Onefourth. The I'M
mediate effect would be the diversion of capital from the
production of gold to the production ofthose other COM
modites.
1t questionable whether capital and labor would
not be diverted in this way with less difference. A
fall in the value of gold to the extent of eighth part
$l4 per would in all probability produce this
result, in prospect of still increasing yield Any rise
Of prices consequent the augmentation OF the pre-
cious metals have but temporary effect in our day
in which there is unmpeded circulation OF these met
ais. Anaogies drawn from former periods wherein
prices supposed to have been elevated IN conse-
quence of increase and depreciation OF gold and silver
must be allaciOus. Prohibitions and restrictions pre-
vented them from finding their due level with regard to
each other and with regard to commodities
There is selfadjustment in modern society which IS
the effect OF allowing free play to the law OF demand and
supply Those whose incomes are fixed in money, annu
tants receivers of estates, &C. may rest ASSURED that
long before there any serious nrOads their incomes
this adjustment will take place Those who ascribe any
advance of prices which may have taken place for the
last ten years. as the cODS OF the gold dscOVe
ries have not closely investigated the relation of the de-
mand to the supply in each class of commodities which
has been elevated in money value within that period
Charleston EUening Nencs
Tariff Revenues.
The imports at the port, large as they have been do
not give proportonate Increase in the Customs reve
compared with the previous tariff The imports OF
dutable goods in August, have been $18416 POI, and
withdrawn from warehouse 49, 229 084-givng total of
29l for the month"; in which the duties collected
have been $42450l0 This an average of per cent
only for the duties For August $685. which the last
August under the old tariff the imports were SIS
$685. ard withdrawn from warehouses 81 524 co., max
ing $20,890j343 for which $5,266 ll9 duties col
lected, or 20 per cent average-Or thus:
August, 1856. $40, 800 343 IS, 2S6, 1893 Is
- 1859. :. 6,7l2,29l 4,243,OlO I6
This is important change in the of duty. 1t
requires $4,000 900 of dutiabe imports to give
the duties that 343 yielded in 1856 under
the old tariff In other Words the dutiabe imports must
increased more than 80 cent to get
At the time the amount of free goods has been
doubled by the removal of duties. If connect this fact
with the great decline in the land of the Govern
ment-these being this year but "a million, against
1H millions last yearlt is easy to that the nan
ces not a settled basis. The whole imports at
the port of New York for s months, September, are
$23,O00,0O0, or Is per cent. more than 1856
and the revenue is $5,00000O less " for the
same period With these large imports operating in ia
vor of the Government, the ordinary natural expend
ture for the fiscal year, ending June 3d. $4,000,
900 in excess of the ordinary This state o.
affairs no doubt is such requires prompt attention
the part of business men, since it points change
taxation The large increase of external trade, which
has reached point which has been supposed to be
dangerous, has failed to restore the finances of the
Government the reason, mainly, that of late years
its expenses have outrun the CUSTOMS and come to de-
pend more the lands than formerly and an agricul
tura revusiOn, like that of the last and present years
kills those revenues This year, at the moment wher
they crushed out, the Government to de
pend upon the proceeds of reduced tariff which proves
to be insufficient for the moment. There is little doubt
however, but that the would be sufficient if the
usual export of breadstus came in aid of the imports
q. S. ECOnO1n3T.