Daily Kennebec journal., 1873-05-17
VALUE or GOLD.

One OF our exchanges has an article up
on the probable future value of gold, in
which the writer holds that during the
next decade there must be an advance in
its value The future value of gold, he
says" "''is question of considerable i'm
portance at the present time in view of
the fact that governments which have
hitherto managed without it now contem-
plate the establishment Of Il 9 i'd curren-
cy. Arguments have already been pro-
duced pro and con, and maintained with
considerable weight on both sides, but
glance into the probabilities of the future
can but lead to the conclusion that gold
must rise in value. not alone from the
cause above noted, but more particularly,
from the growing demand for this precious
metal for ornamental uses which is in
creasing daily to wonderful extent
Those who believe Il decline in prices inev-
liable urge that the causes which produce
depreciation are only now beginning to
operate, and still greater decline in
prices may with certainty soon be expect
nd. On the other hand it is asserted that
there are sure signs of a falling off in pro-
duction, together with IL probability of in
creased demands tending inevitably to an
appreciation OF the standard during the
next twenty years. From an English
journal devoted to the interests of the Iron
trade we gather some interesting facts as
bearing upon this subject The current
supply Of gold, according to this authority
has been calculated to amount to f20, ,000,-
900, and the current demand is rcckoned
at f12 100000 made up as follows:
English annual consumption s5,O0O00O
Indian ditto, 1900 900
australian ditto, 1,000,OOO
South American ditto, 900 900
Portuguese, Spanish, etc, ditto, 100000
& El2Oo0,O0O
From the above it appears that there is
an annual excess in Europe of fS, 900, 900
which would produce depreciation if it
were not absorbed by the extraordinary
demands likely to occur. That there will
be such demands for gold is very certain
and it is almost probable that the above
excess will prove inadequate to meet them.
In Germany, for instance, the demand for
gold is very urgent and of great magni-
tude. That government has decided to
have a gold currency, and this means that
within the next few years Germany must !
obtain, in round numbers, between eco,
600, 900 and ESQ, 200, 900 of gold. In 1872
in fact, Germany coined about f2l, ,000,-
600. and she proposes to coin Els, ,O00,000 /,
in 1873. Germany is a good deal more
populous than France, but France, twenty
years back, took up about f200, 900 900 of
gold therefore, to assume that Germany
will use up half that amounts no extrav-
agant supposition.
Omitting minor demands, such as the
Scandinavian, of an extraordinary charac-
ter, it Is necessary to count on great re-
QUESTIONS ofgold for the United States and
France in a not distant future, owing to
the resumption Of specie payments in
those countries. 1t is probable that the
decline of the German demand will coin
eide with the commencement of the de-
mand for the United States, and that by
the time this latter is satisfied, France will |
come into the market as large buyer of
gold.
The conclusion. therefore, to be drawn
from these arguments is, that for some
wears to come there will be a great de-
mand for gold probably exceeding the
supply and, unless there be an improve
ment in the annual production of gold, or
some compensation be found in greater
economy of existing stock, it is reasonable
to expect that, during the next decade,
gold will rise i'm value"
q GETTTSBURG AND GEN. WEIDE.
At the reunion of the Army of the Potomac
at New Haven on the 18th, General Devens,
the orator of the day spoke at length of the
batlle of Gettysburg and General Meade,
The following ia hrief al etrh of his remark