[114] In 760 a multitude of poor people emigrated to the south of Prague to wash the gold sand found there, and three men were able to extract three marks of gold a day. As a result of that the run on the “diggings” and the number of hands taken away from agriculture became so great that the country was visited by a famine the following year. See M. G. Körner, “Abhandlung von dem Alterthum des Böhmischen Bergwerks,” Schneeberg, 1758. [115] So far the Australian and other discoveries have not affected the ratio of the values of gold and silver. The assertions to the contrary of Michel Chevalier are worth as much as the Socialism of this ex-St. Simonist. The quotations of silver on the London market prove, however, that the average gold price of silver during 1850-1858 is not quite 3 per cent. higher than the price during 1830-1850. But this rise in price is accounted for simply by the Asiatic demand for silver. In the course of the years 1852-1858 the price of silver was changing in certain years and months only with a change in this demand, and in no case with the importation of gold from the newly discovered sources. The following is a summary of the gold prices of silver on the London market. PRICE OF SILVER PER OUNCE. _Year―_ _March._ _July._ _November._ 1852 60-1/8 pence 60-1/4 pence 61-7/8 pence 1853 61-3/8 pence 61-1/2 pence 61-7/8 pence 1854 61-7/8 pence 61-3/4 pence 61-1/2 pence 1855 60-7/8 pence 61-1/2 pence 60-7/8 pence 1856 60 pence 61-1/4 pence 62-1/8 pence 1857 61-3/4 pence 61-5/8 pence 61-1/2 pence 1858 61-5/8 pence [116] “Gold is a wonderful thing! Whoever possesses it, is master of all that he desires. By means of gold even admission to Heaven may be gained for souls.” (Columbus in a letter from Jamaica in 1503). [117] The slowness of the process was admitted by Hume, although it but little agrees with his principle. See David Hume “Essays and Treatises on several subjects.” London, 1777, v. I, p. 300. [118] Conf. Steuart, l. c. v. I, p. 394-400. [119] David Hume, l. c. p. 300. [120] David Hume, l. c. p. 303. [121] David Hume, l. c. p. 303. [122] David Hume, l. c. p. 307, 308, 303: “It is evident, that the prices do not so much depend on the absolute quantity of commodities, and that of money, which are in a nation, as on that of the commodities, which can or may come to market, and of the money which circulates. If the coin be locked up in chests, it is the same thing with regard to prices, as if it were annihilated; if the commodities be hoarded in magazines and granaries, a like effect follows. As the money and commodities in these cases, never meet, they cannot affect each other. The whole (of prices) at last reaches _a just proportion with the new quantity of specie which is in the kingdom_.”