Blackwood's Edinburgh Magazine, Volume 69, No. 423, January 1851 — John Shaqi
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
The additions to the currency of the earth, hitherto considered, have
been those coming from these auriferous regions of North America, now
for the first time brought into view only; but this is by no means
the whole of the provision made by nature for the extended wants of
mankind in this age of transition, vehement excitement, extended
transactions, and rapidly-increasing numbers. The URAL AND ALTAI
MOUNTAINS have brought forth their treasures at the same time, and
provided as amply for the wants of the Sclavonic race in the Old, as
the Californian hills have done for the growth of the Anglo-Saxon in
the New World. Gradually, for twenty years past, the Russian treasures
have been brought to light; and their progressive increase has done
more to alleviate the distress and sustain the industry of western
Europe than all the wisdom of man in her aged monarchies has been to
effect. Grievous as have been the calamities which the contraction of
the currency of the world by the reduction of paper in Great Britain,
simultaneously with the ruin of the South American mines by the
revolutions of its vast regions, which we laboured so assiduously to
promote, have produced, they would have been doubly severe if the Ural
and Altai Mountains had not provided treasures at the very time when
the other supplies were failing, which in part at least supplied their
place. Their influence was long felt in Europe before their amount was
suspected, and even now the wisdom or terrors of the Russian Government
have prevented it from being accurately known; but it is generally
understood to have now reached five or six millions sterling annually;
and, like the Californian gold, it is susceptible of an indefinite
increase, in the event of the influx of that metal from America not
lowering its value so as to render it unworkable in Asia at a profit.
Public-domain text, read in full here on John Shaqi.
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