Blackwood's Edinburgh Magazine, Volume 69, No. 423, January 1851Various
History
Blackwood's Edinburgh Magazine, Volume 69, No. 423, January 1851
Various
England -- Periodicals; Scotland -- Periodicals
far shown an increase of nearly half upon the amount gathered
in the preceding one. Thus the receipts at Philadelphia, for
the first three months, were 4,370,714 dols., while they were
6,920,496 dols. for the second, and again 9,250,000 dols. for
the third. This rate of augmentation coincides with the influx
of population, and, as the emigration to the country is certain
to be continued until the remuneration it affords for labour is
brought to a level with the advantages offered elsewhere, there
is no reason, so long as we are without accounts of an apparent
limit to the field of operations, to anticipate anything else
than a steady continuance of an improving ratio. So far from a
limit having yet been found, each fresh exploration seems to
develope new and more favourable localities, and an extended
discovery of dry diggings lately alleged to have been made,
together with the steps in progress elsewhere to crush the
mountain ore by machinery, appears to hold out the prospect
that, even with the approach of winter, there will scarcely be
a suspension of the prevailing activity."--_Times, Nov. 19,
1850._
By the last accounts there was no less than a million sterling
exported from California in _six days_. This amount of gold, great
as it is, however, is by no means the whole of the supply which has
been obtained. It is the regular measured amount only--what entered
the custom-house books, and was exported in the entered traders. But
who can estimate the amount which in those vast and desolate regions
has been amassed by individuals, and made its way out of the country
in their private possession, or secretly in shipments of which no
account was kept? It is incalculable: like the plunder amassed during
the sack of a capital or province, it may be guessed at, but cannot
be ascertained with anything approaching to accuracy. Probably the
amount thus acquired, but not entering any public records, may equal
all that is ascertained from the custom-house books. But call it only
a half, or fifty per cent, it will follow that last year the amount
raised was upwards of £15,000,000, and this year (1851) may be expected
to reach £17,000,000 or £18,000,000! If so, it will nearly double the
annual supply of the precious metals for the use of the globe, which at
present, from all sources, is between £16,000,000 and £17,000,000. It
may with confidence be anticipated, that how secretly soever great part
of this treasure may be smuggled or conveyed out of California, none,
or at least very little of it, will be lost. It will all be carefully
preserved, and sooner or later find its way into the circulation of the
world, or be manufactured into the gold ornaments and vessels which
minister to its luxury or magnificence. Nothing more is required to
show the prodigious influence of this great change; beyond all question
it will, in its ultimate effects, alter the face of the globe.
Public-domain text, read in full here on John Shaqi.
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