Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1859-12-29

has the following reflections on the drain OF
C old from the United States, and On the
best mode Of arresting it:
The amount OF gold produced from The
mines OF California from the year 1915 10
1858, q period Of ten years, was SS44o, OUO-
coo; while during the six years from 1917
TO 1858, the diggings OF Australia have
Welded :54lO S22 eco, making together
tota! of $3.50 922 900. When ii is consid-
cred that Great Britain and America have
been enriched within the last ten years TO
such an immense extent, il is needless 10
show what superior advantages they have
thereby acquired for the development o!
their industrial and other resources. 1t is
fortunate ior the interests OF trade that these
sources Of wealth have fallen into the hands
Of the two nations that have distinguished
themselves BY 4 pre-eminent mechanical
skill, and thorough commercial genius and
policy, and which are least dsposet tcwasie
;hcir treasure upon military establishments
and political propasandisu.
In order 70 rnaks our Gold mines as much
as possible source Of industrial develop
ment, the true policy of this country is TO
/ make itself reservoir fag the retention OF
lis Gold, ralter than q mere channel for its
| Conveyance elsewhere. This hitherto We
| have not done. From tia first discovery o!
aur mines the current has flowed steadily
towards Lcrdca, 10 30 thence distributed
amoag cur various foreign creditors; and
tins VIC have been paying away Cur prec-
lens metals in exchange for commodities
which should have been the product Of our
own capital and Industry. Tie amount Of
Cola exported from tie United States Ga.
ring the last nine YEARS Is upwards O. 93u0-
/ 100000, er abau, SC per cent. q the entire
| produce o. California fer that period. and !;
/ is worthy Of ro,e that 81 late t'ai portion re-
tanned Il ho-,e hrs been gradually d.miE;,!l-
,i7g. Tie expert from ia Ya.;s o.. Re"
/ Yer, al B5s.cn duIing ;!.c first i'ae
/ mani. y the psc.c!.t ys.r Z. Sticd te
,5og; &C1C0otC0, or 10 TORS, casing II
I-eigh. &IOc,CJ0. Eliminating TIE EXPORT
. Tor the reraainisa Gree months al $50 Co.,
/ Geo, the year VIII probably close with 20
ISL e $3l,GCG go Of treasure cZpoTtea
rso,n lie United States, While tie receipts
/ from a.! The American gaiE-s : =. 10! 60.
ceed So 0Go,0C0
New, "hatove: pal.i-iiars may be stated
IN Justification Ct this Yc..cy, 10 say The least
il is giving up 10 ether countries OF the
only .Eeags we possess .og making ourselves
great ialustris! nation. We are paying
EGfoYe 4 handsome profit for nanufac'rr-
Ing goods. witch ought &c ts made 81 home
at a u7cf, 10 orr own capitalists. We gre
Building up in foreign countries en- immense
productive interest fer the purpose @! En-
.icA!lg strangers; Instead or Ike them, ce-
Ing manufacturers fer ourselves, sad sup
porting our own bco7ls e. tao wages and
The profits Of orr OWN mills end workshops.
The investment Of less than hall year >
receipts of California Treasure in factories,
wou!L create more spindles Than are nov
wsrL.ag in i,s whole Of Nav Eas!aE!.-
BESIDES co,lou anI wooan mills, re wan.
iron works, glass works, cutlery wcfks,
and works connected with various ether
branches Of industry, which LlhsFio We
have allowed 10 fall almost entirely into lho
hands OF other countries. BESIDES, there
ure important branches Of textile manu'act-
ure which hitherto we have not Touched
The production Of wors,ed fabrics, which
employs lis hundreds OF thousands 0! opera
lives in England and Saxony, is nanufac-
lure beset BY no great difficulties, ard one
which might be prosecuted in This country
q i,il perfect success.
Oar consumption OF wooden fabrics being
large. his might he made 10 rank among Inc
first c. our industrial interests. We have
as yet done nothing WORTHY Of mention IN
linen weaving, ,h2re being only ona or two
mills Of that character in the country, whilst
we are importing !iaeas 20 the amour! ct
about 81 50O, 600 annually. We a!Inie 70
,lcSc facts,-Hol 10 convey taa imprsssi-a
lhat we ara in a position at once 10 under
take al these enterprises, and should there
fore c.temD, t.ien,-hut 10 show what de-
partments of industry yet remain opsn TO
US, each one closely identified with our So
> eial wants, and promising when aneeEta-
ken, 10 contribute largely 10 our national
wealth. IL vie9 Of thsso facts, calling q:
they do upon the commercial comIuniiy Il
turn It's attention less TO importation anc
: more to production, we ask whether tht
yis.d Of our Gold mines is 10 be squandoreC
: away upon perishable commodities, and no
. fraction retained for founding in our mids
home industry worthy Of our standing anC
enterprise? The true commercial polio!
; for the United States is TO conserve It's COX
> ard roster lis manufactures.