The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-04-04
The Currents Of Gold and silver.

The Currents of Gold and Silver.
Translated from an article of Or. NJ. BJock IN the
Magazine for Foreign LtterRure.
There arises i'm the Mexican Gulf a gigantic
hot well which, running northward, warns and
fructifes the otherwise barren regions of the
higher latitudes of the Western Hemisphere.
In the bays of Norway the Gulf Stream-thus
this well is oaled-is welcomed for the bless
ings it brings, notwithstanding the dangers
with which, in its course, it may have threat
ened many ship bound for her coasts. More
than once l compared, in my thoughts, this
Gulf Stream with the currents of gold and silver
which now for centuries have connected America
with Europe, and Europe with Asia. These
currents are beneficial, even though IN single
cases they may have caused some damages
They quicken commerce, witty industry in
crease the general well-belng, and procure to
one the leisure by which the mind is benefited
and to another the products which strengthen
the body and preserve its health.
The currents of the precious metals have their
cause in two circumstances:--T one is, that
the gold and silver mines are not like cornfelds,
equally distributed over the whole surface of the
earth; the other lies IN human nature We long
and pray for the precious metals; therefore they
feel themselves attracted and press around us
until they leave us again and yield to
new and more attractive power. 1t is well
known that these hard and cold metallic pieces
are uncommonly sensitive and delicate, the very
minlOsdS of the world OF affairs; and this sensi-
tiveness greatly fayors and quickens these cur
rents and fluctuations. 1t would be interesting
to study this quality of the precious metals, but
/ prefer, instead of this to investigate whence
they are coming and whittier they are going.
Whence does the civilized world receive the
necessary quantity OF gold and silver? Without
going back to antiquity we must establish three
distinct periods ds-First, before the discovery OF
America second, from 1892 TO lS48; third, from
l849 up to the present time.
The migrations of nations had caused q cOns-
derable dlminutiOn of the then existing stores
of precious metals; for at the time of the in
Vaslons of the barbarians, everybody hld his
treasures, and but few had the opportunity to
bring to light again their buried property. The
working OF the mines had also to be stopped in
consequence of the disturbed state OF things.
The natural consequence was that after the
re-establishment of a certain degree of orde
and social organization, gold and silver became
uncommony dear, and mines Of even small
productiveness were advantageously worked
with imperfect implements. During the middle
ages, we thus find several mines of Lesser i'm
portaDce worked in Sweden, Germany, Hun
gary, Macedonia, and particularly IN Spain. Mr..
Roswag, in his interesting work, Lies MetauX
PrecieuX Consideres au point de Vue Econo-
mique,n expresses himself concerning the latter
country in the following manner:-"Atter the
expulsion of the Moors, the working of the
mines greatly increased. The German brothers,
the Counts Fugger, OF Augsburg, were at the
head of the mining industry. They worked the
immense sixty feet deep quicksilver mines of
Almaden, and also the celebrated mines OF
Guadalcaral famous for their productiveness ia
silver, which have since been worked again, but
with loss When Germany sent these two
miners she had already become the rich school
of mining.D
However it may have been with regard to
these two noble miners, they were unable to
stem the current of gold and silver which had
been set in motion by Columbus. As soon as
America was discovered, Europe fell under the
almost eXclusiveilnfuence of the metallic wealth
OF that continent.
About the year 1900 a considerable mass OF
gold and silver had already been accumulated,
but it would be difficult, if not impossible, to
estimate its exact amount. a The English writer
Mr.. Jacob estimated the sum at f4l 000,0 900.
Michel Chevaler estimated the amount at two
and a-half times the amount, say l,000 900 900 of
francs (3-l0 gold, 7-l0 silver), others exceeded
this calculation by 400, 100000 thalers. WHAT is
certain is that if before the discovery OF America,
the Reformation and the invention of printing,
the stock of gold in existence was sufficient
Europe after aWaking from her intellectual
torpor, without the American supplies of pre-
cious metals would have been very much
checked in her industrial and commercial de-
Velopment,
Columbus landed in America in 1492; twenty
one years later Cortez triumphantly entered
Mexico, and Pizarro, in the year 1927, con-
quered the empire. of the Incas. How much
silver has since been exported from thence up to
the year ls4S? Probably 81, 1886, 900 kilogrammes
1.-TWO pounds to the klogramme), valued at
l9,774,O 600 600 of francs from Mexico; 5S,765,OOO
kilogrammes, valued at l3,059,0 100000 francs
from Peru; from Chill and New Granada,
100000 kllogrammes, valued at 289. .00O, ,O0C
francs, together with, from America 27,l22,
100000 of francs.
During that period of three hundred wears the
silver mines Of Europe did not remain un worked
but scarcely yielded fifteen per cent. OF the tota
production.
Besides the silver the following quantities o
gold were imported from America:-
KilOgrammes. Francs.
Rrazil $40 800 4 626 600 00