Gregg's Commerce of the Prairies, 1831-1839, part 2Gregg, Josiah
History
Gregg's Commerce of the Prairies, 1831-1839, part 2
Gregg, Josiah
Mexico -- Description and travel; Santa Fe National Historic Trail; Southwest, New -- Description and travel
Every species of silver is moulded into _barras_ or ingots, weighing
from fifty to eighty pounds each, and usually worth between one and
two thousand dollars. These are assayed by an authorized agent of the
government, and stamped with their weight and character, which enables
the holder to calculate their value by a very simple rule. When the
bullion is thus stamped, it constitutes a species of currency, which
is much safer for remittances than coin. In case of robbery, the
_barras_ are easily identified, provided the robbers have not had time
to mould them into some other form. For this reason, people of wealth
frequently lay up their funds in ingots; and the cellars of some of
the _ricos_ of the South, are often found teeming with large
quantities of them, presenting the appearance of a winter's supply of
firewood.
{111} As the charge for parting the gold and silver at the Mexican
mints, is generally from one to two dollars, and coinage about fifty
cents, per pound, this assayed bullion yields a profit upon its
current value of nearly ten per cent. at the United States Mint; but,
if unassayed, it generally produces an advance of about double that
amount upon the usual cost at the mines. The exportation of bullion,
however, is prohibited, except by special license from the general
government. Still a large quantity is exported in this way, and
considerable amounts smuggled out through some of the ports.
A constant and often profitable business in the 'silver trade' is
carried on at these mines. As the miners rarely fail being in need of
ready money, they are generally obliged to sell their bullion for
coin, and that often at a great sacrifice, so as to procure available
means to prosecute their mining [Pg185] operations. To profit by this
trade, as is already mentioned, was a principal object of my present
visit. Having concluded my business transactions, and partially
gratified my curiosity, I returned to Chihuahua, where I arrived,
November 24, 1835, without being molested either by robbers or
Indians, though the route is sometimes infested by both these classes
of independent gentry.
But, as it is now high time I should put an end to this digression, I
will once more resume my narrative, where it was interrupted at my
arrival in Chihuahua, on the first of October, 1839.
{112} It is usual for each trader, upon his arrival in that city, to
engage a store-room, and to open and exhibit his goods, as well for
the purpose of disposing of them at wholesale as retail. His most
profitable custom is that of the petty country merchants from the
surrounding villages. Some traders, it is true, continue in the retail
business for a season or more, yet the greater portion are transient
dealers, selling off at wholesale as soon as a fair bargain is
offered.
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