Before the following pages issue from the press, the contest involved in
the Parliamentary Elections will be over. It is useless to speculate,
therefore, on what will so soon be determined by a result which, for the
time at least, will settle who is to hold the reins of power. Recording
our confident hope that the Conservative party will obtain such a
majority as may enable them to carry on the Government on those
principles which can alone heal the wounds and allay the feuds which the
policy of their predecessors have implanted in this country, it is of
more importance at this time to inquire into the great and lasting
interests of the nation, and the present circumstances in our
ever-changing situation which most loudly call for attention, and must
ere long force themselves upon the consideration of whatever Government
is placed by the people at the head of affairs. The observations we are
to offer are chiefly of a practical and remedial kind; for the changes
to which they refer are such as are altogether beyond the reach of
dispute, and on which all parties, however much divided on other
subjects, are agreed.
The first of these subjects, in point of importance, beyond all
question, both to the present interests and future destinies of the
Empire, is the vast increase in the annual supply of gold for the use of
the globe, which the late discoveries in California and Australia have
made. Here, fortunately, there is no room for dispute; and, in fact,
there is no dispute about the facts. It is conceded on all sides that
the annual supply of the precious metals, before the new discoveries,
was somewhat below £10,000,000 a-year; of which about £6,000,000 was the
annual waste by the wearing of coin, or the absorption of the precious
metals in objects of luxury; and that before the end of 1851 this annual
supply had risen to £30,000,000. There has been very little addition to
the annual waste; so that the quantity annually added to the sum total
of the precious metals in this world has been multiplied at least
_fivefold_ during the last three years. It has risen from £4,000,000
annually to at least £20,000,000. And the recent accounts from Australia
leave no room for doubt that this increase in the supply, how great
soever, will be largely added to; for it appears that from 9th October
to 9th April the yield of the Australian gold mines was above
£3,000,000; and there appears to be no limits to the extent of the
auriferous regions. It is quite certain, therefore, that the annual
addition to the stock of the precious metals in the globe, will this
year, and for a long period to come, be at least SIX TIMES what it was
before Providence revealed these hidden treasures to a suffering world.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account