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Total.....

£18,654,522 £8,788,416 £27,442,788 Those marked thus (*) are exclusive of China and Japan, which produce, large quan. tities 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..

lbs.

46,331 In Europe and Northern Asia, (exclusive of China and Japan)

4,916 Total produce......

51,247 =55,910 lbs. British standard gold=£2,612,200. In 1846 the quantity of pure gold produced in America was. . .lbs. 25,503 In Europe, Africa, and Asia, (exclusive of China and Japan).

89,171 Total produce ..

114,674 -125,108 lbs. British standard gold—£5,846,772. In 1850, the quantity of pure gold produced in America was.. .lbs. 261,731 In Europe, Africa, and Asia, (exclusive of China and Japan).

104,219 Total produce

305,950 -399,247 lbs. British standard gold-£18,654,322.

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 34} (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 2 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 colomencement 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. 5 d. 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 ex. pected 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 nioderate allowance, as the exports alone, in the first three months, are known to bave 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, pamely, £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 21 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 In Great Britain...

$1,700,000 France...

1,300,000 United States.

550,000

Total...

£3,500,000

Great Britain.

France.

United States.

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 :

Total, 1848.....

£2,451,999 £1,144,472 £786,555 £4,473,036 1849.

2,177,000 1,084,382 1,875,168 5,136,510 1850.

1,491,000 3,407,691 6,662.854 11,561,515 1851.

10 months. 10,077,252 12,919,695 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, bat difficult, toi 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 aniount 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 cach city a notable increase of bullion, compared with 1848, as the following table will show :Bank of England, week ending May 6, 1848.....

£12,826,108 May 8, 1850..

20,231,037 Bank of France, week ending May 4, 1848...

3,534,165 (last return) April 8, 1852...

23,505,204 Banks of New York, quarter ending March, 1848.

1,404,195 1852.

2,029,448 Summary of the quantity of bullion in the above named banks in 1848, and the nearest corresponding period of 1852 :

Bank of England. Bank of France. Banks of N. York. Total. 1848

£12,826,108 £3,534,165 £1,404,125 £17,764,398 1852

20,231,037 23,506,204 2,029,428 55,766,689 Increase of bullion in 1852.....

£28,002,291 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 ber 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 53. an ounce, British standard, which is only equivalent to 648. 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 157 (15.3) times more valuable than silver.

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Gold.

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

Silver. 1801.

19 856, or 1 lb. of gold to 45 lbs. of silver. 1816

42
727,
do.

17 do. 1850.

134
978,
do.

7 do.
1851
180 1,002, do.

5 do. 1852.. 242 1,027,

do.

do. Althưugh the 242 tons is 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.

541

71

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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, 949 'Ju'e 1,'50. Ju'e 1,'51. J'e 1. '52. Boston & Lowell..

119 114 1173

114 1131 110 Boston & Maine

117 1151 102 1044 1067 110 Boston & Providence...

108
92}

911 801 92 934 Boston & Worcester.

120 113 107

964

106 1064 Cheshire, (old stock)

97 83 72 431 604 45 Connecticut River.....

92 101 97 85 65 68 Concord, (par 50). 64 601 61

54 544 Eastern..

110 1044

104 103 101 1037 Fall River... 891 904 86

93

1055 Fitchburg

125 1171

115 111 113 107 Nashua & Lowell.

1241 122 120 108} 107 1064 Northern...

102 963

674

631 Norwich & Worcester

50 277 37 44 64+ 55+ Old Colony.. 103 92 79 64

65% Portland & Saco 104 100} 983 991

101$ 100% Reading

29
184

16 243 29 391 Rutland

73 54 671 40 Vermont & Massachusetts.. 83

43 27 30 22 Vermont Central..

94

503 291 365 Western.....

109 1031 107 102 106} 1075 Wilmington...

271 26 27 244 30 Canton Company 37 33 39

80

811 East Boston Company.

19 123

14
157

313 24$ 80 Pittsburg Copper Company..

64 85 94 124 108 Atlantic Bank.....

98 981 1001

110 1111 112 Boylston Bank....

100 1013 102 106 109} 1111 Exchange Bank..

92}
97}

105 1064 1071 Merchants' Bank 102 100 103} 1081 1094

1124 New England Bank.

1021 102 1044 1092 1111 113 Shawmut Bank ...

95 92 954 1023 1054 169 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.

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714

174

324

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 1861, 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 Adaus-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.
Moneos-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, INCLUSITE.

ANXUAL AVERAGE DURING EACH ADMINISTRATION.

Administration.

Customs. Washington...

$3,633,170 62 John Adams..

7,846,773 40 Jefferson

13,072,531 87 Madison

12,620,567 82 Monroe..

18,288,740 35 John Quincy Adams.... 21,589,463 03 Jackson

23,167,844 16 Van Buren...

15,991,379 43 Harrison and Tyler.. 16,476,385 08 Polk.......

27,436,434 04 Taylor and Fillmore..... 39,010,931 05

Internal revenue.
$204,222 88
702,095 59
249,895 50
1,436,147 65
285,076 92
21,174 62
7,876 51
3,049 17
1,159 23

Direct taxes. Postage.

$16,976 10 $183,555 99 55,750 00

124,315 62 27,937 77 1,083,512 90 56,233 15 285,076 03 7,151 10

8,453 88 222 71 6,377 35 243 95

610 73

Dividends and sales
of bank stocks, &c.
$218,750 00
151,806 00
177,046 00

Washington....
John Adams.
Jefferson...
Madison..
Monroe
John Quincy Adams..
Jackson ..
Van Buren
Harrison and Tyler

426,863 18 411,250 00 *527,986 24 1,923,145 36

182,420 47

Miscellaneous $10,746 58 42,242 94 94,741 34 104,944 68 137,860 86 401,249 73

529,744 16 2,554,793 60 619,209 12

Polk ...

Public lands.

$604 51 23,986 86 428,637 30

983,379 62 1,803,196 80 1,281,007 41 7,267,698 95 5,056,727 28 1,414,795 71 2,649,618 13

176,933 21 1,276,324 67

aylor and Fillmore

1,967,053 03
Receipts exclusive
of loans, treasury

notes, &c.
$4,083,220 71

8,746,209 80
14,175,104 42
16,284,785 85
21,456,993 92
23,707,821 35
31,507,671 35
25,165,009 79
18,594,219 64
30,262,980 14
42,254,375 42

Washington..
John Adams..
Jefferson
Madison..
Monroe..
John Quincy Adams
Jackson ...
Van Buren
Harrison and Tyler
Polk....
Taylor and Fillmore...

Loans and
treasury potes.
$2,525,860 64
1,763,947 81

25,606 22 13,740,913 12 1,723,344 29 1,250,000 00

Total receipts. $6,609,081 36 10,510,157 61 14,200,710 64 30,025,698 97 23,180,838 21 24,957,821 35 31,507,671 35 31,454,168 22 29,318,547 18 41,996,954 95 53,132,608 42

6,289,158 43 10,724,327 54 11,733,974 81 10,878,233 00

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