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Those marked thus (*) are exclusive of China and Japan, which produce large quantities of gold and silver, the amount of which is quite unknown to Europeans.

At the beginning of the 19th century, Baron Humboldt's estimate (Essai Politique, tome 2, page 633) of the annual produce of North and South America, was 17,291 kilogrammes-46,231 lbs. Troy of gold, and 795,581 kilogrammes-2,131,770 lbs. of silver; value of both metals in dollars, 43,500,000, equal to £9,243,750; the produce of Europe and Northern Asia at the same time was 4,916 lbs. of gold, £250,593; and 199,298 lbs. of silver, £657,683. Total value of the precious metals raised in America, Europe, and Northern Asia, £10,152,026.

In 1801 the quantity of pure gold produced in America was...
In Europe and Northern Asia, (exclusive of China and Japan)

Total produce.....

55,910 lbs. British standard gold-£2,612,200.

In 1846 the quantity of pure gold produced in America was.
In Europe, Africa, and Asia, (exclusive of China and Japan).

Total produce

125,108 lbs. British standard gold=£5,846,772.

In 1850, the quantity of pure gold produced in America was.
In Europe, Africa, and Asia, (exclusive of China and Japan)..

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.lbs. 46,331

4,916

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The above quantities are probably less than the actual production. The duties on gold in Russia, on the produce of the private mines, are heavy, varying from 12 to 24 per cent; in Austria, they amount to 10 per cent; in Brazil, to 5 per cent; and are understood to lead to a great deal of smuggling. In other countries, such as the United States, where there are no duties, the gold and silver stated in the table are only the quantities brought to the mints to be coined, there being no means of determining the quantity used in jewelry and other arts and manufactures.

The above tables, imperfect though they be, will suffice to show that the produce of gold in the world has greatly increased in the last few years. It would appear that it has risen from 114,674 lbs., in 1846, to 365,950 lbs. in 1850. In those five years the increase has been at the rate of 219 per cent, while silver has only increased from 1,979,084 lbs., in 1846, to 2,663,386 lbs., in 11850, or 344 (34.5) per cent. The former metal is, therefore, apparently increasing at the rate of 44 (43.8) per cent per annum, and the latter at 7 (6.9) per cent. The greater part of the increase in silver is in Mexico, which is doubtless owing to a variety of circumstances, such as restored tranquillity, richer mines, and greater skill. It would not, therefore, be safe to couat upon such an increase every year, but we are certainly not exaggerating in say

ing that silver is now regularly increasing throughout the world. It may be estimated at an average of 24 per cent per annum.

It is a remarkable fact, however, and worth recalling, that in the country where the greatest increase of silver has taken place, there was concurrently a loss of thousands of pounds of English capital, by the various English silver mining companies; so much so that none of all the silver mining companies projected to work mines in Mexico between 1824 and 1830, have been successful. Some of them were being wound up during the very time when mining was prosperously conducted by the Mexicans. This seems to have been owing to a want of knowledge, or of control, or to the mischief of share-jobbing in the English companies; but, whatever may have been the cause, the natives of that country have found silver mining to be profitable. The enormous profit of £240,000 a year obtained by the old Spaniards from the Valencianna mine, a profit larger than all the tin and copper mines of England put together, is generally looked upon more as a fable than a reality by those who have heard casually of silver mining as conducted by English companies. The English gold mining companies have done better, and probably had they some twenty years ago the skill and knowledge of the present day, they would have been highly successful. The quantity of gold produced in America at the beginning of the century was, according to Humboldt, 46,331 lbs. Troy, and that of silver, 2,131,770 lbs. In 1846, the produce of gold in America had fallen to 25,503 lbs. Compared with the silver then produced, namely, 1,594,431 lbs., the gold was, therefore, 62 times less than the silver. In 1850, the yield of gold, in consequence of the great discoveries in California in 1848, had risen to 261,731 lbs., being in weight only eight times less than the weight of the silver.

The annual produce of gold in the whole world (excepting Africa and some parts of Asia) at the commencement of the century, was in a somewhat greater ratio, being 1 lb. of gold to 45 lbs. of silver; in the year 1846, the produce of gold (including Africa, but excepting China and Japan) was at the rate of 1 to 17. In 1850, the produce of the same countries had risen to 1 of gold to 7 of silver.

As regards the produce of gold last year in California, it would appear that it must have amounted to about $82,118,500, equal to £17,339.544. The yield of the newly discovered gold mining region at Bathurst, New South Wales, and at Mount Alexander and Buninyong, Victoria, may be stated at fully £1,000,000. Hence there is an increase to the production of 1850 of 124,382 lbs., Troy, of fine gold, the total produce of gold in 1851 being therefore, 490,332 lbs.; at £50 19s. 54d. per lb. pure gold, equal to £24,994,066. There is much reason to believe (vide the comparative table) that the annual produce of silver is now steadily increasing, say at the very low rate of 24 per cent. The yield of silver in 1851 will thus be 2,729,970 lbs., Troy, equal to £9,008,900. Consequently the total value of the produce of gold and silver last year is £34,002,966.

But, large as the produce of gold is thus shown to have been last year, in California and Australia, it is likely to be greatly increased this year, it being confidently expected by the Americans that the recent discoveries of very rich deposits in various districts of California, will raise the exports for the twelve months to £100,000,000, equal to £21,041,666. This, moreover, is a very noderate allowance, as the exports alone, in the first three months, are known to have amounted to $3,900,000 more than those of the corresponding three months of 1851; while, as regards Australia, late news from that quarter makes it probable that the produce there will at least amount to one-half of the yield of California in 1850, or £6,000,000. The exports merely, from Australia, up to January 15th, (although gold dust was selling as low as £2 178. per ounce,) have amounted to 284,000 ounces, equivalent to £1,000,000, a part of the yield of about four months' digging. Should other countries only yield at the same rate as in 1850 or 1851, namely, £6,654,522, this, added to the produce of California and Australia, will amount to £33,696,188, or 664,032 lbs. Troy. Estimating the increase in the yield of silver at 2 per cent, the amount of silver for this year is 2,798,219 lbs.; at £3 68. per lb., equal to £9,234,122. The total value of both gold and silver for the present year is, therefore, £42,930,310.

The average yearly coinage of gold during the first thirty years of this century was→

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The following is a statement of the recent gold coinage in the same countries, beginning with the year in which the gold discovery was made in California :—

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The gold coinage last year in the United States exceeded by £3,398,927 the largest coinage of the same metal ever made in the United Kingdom. And the coinage in France during the first ten months exceeded by £556,494 the memorable coinage in this country of £9,520,758 in the year 1821.

The annual consumption of the precious metals (exclusive of coinage) in Europe and America, is supposed to be about £4,840,000, to which there may be added, for the other quarters of the globe, £1,660,000-total, £6,500,000. It is important, but difficult, to determine how much of this sum consists of gold. Mr. Jacob, about 20 years ago, estimated the annual consumption of gold in Great Britain at £1,636,000. The other countries of the globe would at least consume half as much more, making £2,454,000, to which the annual gold coinage has to be added. Comparing this total with the quantity of gold produced at the beginning of the century, or even for many years after, it then appears that gold from the mines was not raised in amount equal to the entire consumption; besides which, it seems to lave been used relatively in a greater proportion than silver, and accounts for the premium in France of 12 francs per mille over silver, which gold not unfrequently commanded, till the recent discoveries, for a pound troy of gold in France, in 1802, was found to be exactly equal to 15 lbs. 6 oz. of silver, but afterwards became equal to 15 lbs. 8 oz. Now, however, the premium is likely to be reversed most materially, for, deducting the £2,454,000 of gold consumed in the arts, from the supposed yield of the gold mines in the present year, namely, £33,696,188, leaves £31,242,188 to be converted into coin; being a larger sum by £5,239,053 than the total circulation of gold coin in Great Britain in the year 1780. The general inference that specie must be accumulating is further borne out by the fact that, notwithstanding discounts are unusually low in the three principal cities of the world, yet there is in each city a notable increase of bullion, compared with 1848, as the following table will show:

Bank of England, week ending May 6, 1848..

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May 8, 1850..

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£12,826,108

20,231,037

3,534,165

23,505,204

1,404,125

2,029,448

Summary of the quantity of bullion in the above named banks in 1848, and the nearest corresponding period of 1852:

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By the last return of the Bank of England, the specie appears to the value of £20,231,037-being the largest amount she has ever held, and £3,592,722 above her highest accumulation previous to the development of the wealth of California.

It may be stated generally that there was, in 1850, five times as much gold produced in North and South America as in any of the most productive years of the American mines under the Spanish government. At the same time the silver mines of America were yielding quite as much silver as at the beginning of the century, when they were nearly as productive as at any former or later period under Spanish dominion.

Yet, notwithstanding the great increase in the produce of gold relative to silver, it is a curious fact that the price of silver has not risen; on the contrary, it has fallen in value. In the course of the week ending April 17, 1852, £580,000 worth of silver was sold at 5s. an ounce, British standard, which is only equivalent to 64s. 9d. per lb. Troy for pure silver. At that rate, 1 lb. of pure gold is worth 154 (15.74) pounds of pure silver. In January, 1851, gold was only 15 (15.3) times more valuable than

silver.

The following is the estimated produce of the precious metals, in tons, in 1801, 1846, 1850, 1851, and the probable amount of 1852:

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Although the 242 tonsfis an increase of no less than twelve times the quantity produced at the beginning of the century-a quantity of the glittering treasure that is fraught with the mightiest consequences to society-yet, as respects bulk, it sinks into perfect insignificance, for, if it were melted into bars, a closet nine feet high, eight long, and eight broad, would hold it all. It would require 21,713 times as much space to hold all the iron that is now smelted in Great Britain.

STOCK FLUCTUATIONS IN BOSTON MARKET FOR SIX YEARS.

We give below a table from the Boston Commonwealth, exhibiting the prices of thirty different stocks, on the first day of June, for six years past, which will give an idea of the general depression which has been maintained throughout that time, more especially in railroad stocks. Bank stocks were low in 1817, and since then have been gradually gaining until they are now the highest priced securities in the market:June 1, 1847. June 1, '48. June 1, '49 'Ju'e 1, '50. Ju'e 1, '51. J'e 1. '52.

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But one dividend-paying railroad stock in the above list, the Fall River, now stands higher than on the first of June, 1847; but it will be seen that the price of it was much depressed then, while the others were at the top of the ladder. Of the fancies, Norwich, Reading, Wilmington, Canton, East Boston, and Pittsburg Copper Company, all stand higher now than in June 1, 1847, but the intervening time they have each had "ups and downs" peculiar to themselves, and best known to those who have "operated" in them for profit or loss.

RECEIPTS OF UNITED STATES FROM 1789 TO 1851.

In the Merchants' Magazine for September 1852, (vol. xxvii., page 349,) we published a statement of the expenditures of the United States from 1789 to 1851, inclusive, showing the annual average during each administration. We now subjoin a similar statement of the receipts for the same periods:

DATES AND LENGTH OF PRESIDENTIAL TERMS

WASHINGTON-Eight years, from April 30, 1789, to March 4, 1797.
JOHN ADAMS-Four years, from March 4, 1797, to March 4, 1801.
JEFFERSON-Eight years, from March 4, 1801, to March 4, 1809.
MADISON-Eight years, from March 4, 1809, to March 4, 1817.
MONROE-Eight years, from March 4, 1817, to March 4, 1825.
JOHN Q. ADAMS-Four years, from March 4, 1825, to March 4, 1829.
JACKSON--Eight years, from March 4, 1829, to March 4, 1837.
VAN BUREN-Four years, from March 4, 1837, to March 4, 1841.

HARRISON AND TYLER-Four years, from March 4, 1841, to March 4, 1845.
POLK-Four years, from March 4, 1845, to March 4, 1849.

TAYLOR AND FILLMORE-Three years, from March 4, 1859, to March 4, 1851. STATEMENT OF THE RECEIPTS OF THE UNITED STATES FROM 1789 TO 1851, INCLUSIVE.

ANNUAL AVERAGE DURING EACH ADMINISTRATION.

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