Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1867-12-18
From the Financial Chronicle. Nov. sO.l
Our Supply of Gold.

The GOLD MOVEMENT SINCE l860.-To
country, with q deprecated paper
currency, and desirous of an early re-
turn to specie basis, is matter of no
small consequence to ascertain what is
its supply of the precious metals. A
priOri. it might be considered highly
probable that during the last six years
We should have parted with consid-
erable portion of our accumulation of
gold. Our production of commodities
was materially curtailed by the war !;
and the consequent advance in prices
beyond what was due to currency de-
rangements) naturally opened our mar
kets to the products of foreign coun-
tries. We were deprived of the prin;
ciple staple by which we have been
won't TO pay for. our imports, and had
not the usual supply of breadstuffs for
for expectation. With such q radical
arrangement in our foreign commerce,
it would seem very natural to conclude
that we should have to draw largely
upon our accumulation of specie for
liquidating the excess of imports over
exports. A very general impression
exists among our people that such has
been the actual course of affairs, that
we have thus lost q large amount of
specie since 1860. and that consequent
ly we have not at present an adequate
basis for the resumption of specie pay
ments, and cannot have until, by some
legislative expedient, the eflux Of spe-
Gle from the country is checked.
The principal movements of the pre-
cious metals in the country areindicated
in recorded returns, with sufficient pre-
cision toenable Us to forms reliable esti-
mate ofthe correctness of this opinion.
The imports and exports Of coin and
bullion are officially recorded. The
product in California, Arizona, Idaho
and Oregon is represented by the regis
tered receipts at San Francisco By Wells,
Fargo & Co.; but 10 the recorded ar
rivals by that medium it Is customary
to add 10 per cent. to the receipts from
the interior and 80 per cent. TO the
coastwise receipts for the amounts
brought personally by miners; and in
giving below the product received at
San Francisco, We make that addition.
Of the product in the new mining re-
gions of Colorado and Montana there |
there is no actual record. The yield |
in those districts is sent direct to the |
and during the last two years !
a considerable portion Of the yield Of
Idaho has also taken this route. It is |
difficult to estimate the amount of |
treasure coming overland from these
regions. During the last three years
the product of Colorado and Montana |
has been quite important. The amount
Of gold from these territories, deposited
at the mint and its branches last year,
was Sc, ,522, 600; and yet it IS known
that of the whole product less than
one half finds its way to the mint II
IS estimated by those most familiar
with the treasure movement of these
regions that the annual product is about
SIS, 100000. Deeming this estimate
somewhat sanguine, it may yet be very
safely estimated that the recsipts from
Colorado, Montana and other mining
districts at other points than San Fran.
cisco. since 1860, aggregate fully $780,
Doc, 900, and this we adopt as an esti-
mate safe beyond all dispute.
With these explanations we subjoin
! statement of the domestic produe-
ion, the imports and the exports for
zach of the last seven years the home
Yield being for the calender year end
ng Dec. 81, and the imports and ex- {
ports for the fiscal year ending June 30: |