Remarks on the production of the precious metals: and on the demonetization of gold in several countries in Europe — John Shaqi
Remarks on the production of the precious metals: and on the demonetization of gold in several countries in EuropeFaucher, Léon
History
Remarks on the production of the precious metals: and on the demonetization of gold in several countries in Europe
Faucher, Léon
Bimetallism; Precious metals; Precious metals -- Europe
The Spaniards--those indefatigable treasure-seekers--who discovered the
hidden riches of the Cordilleras, had been in possession of California
for above two centuries. From the year 1602, Sebastian Viscaino, the
founder of Monterey, had learnt from the Indians, dispersed throughout
that country, that it abounded in gold and silver. Nevertheless,
instead of planting a colony of miners to examine the soil, the
Spaniards sent thither a body of missionaries, who proclaimed the
gospel, and at the same time instructed the natives in the rudiments of
civilization and of agriculture.
In 1846 there was scarcely 10,000 of the original Spanish creoles,
when a body of some hundreds of adventurers from the United States,
under General Taylor, invaded and took possession of the country. The
Government of the Union, in demanding its cession from Mexico, thought
chiefly of an aggrandisement of territory; they wanted ports on the
Pacific and a rival colony to Oregon. Little was it expected that in
the valleys which descended from the Sierra Nevada would be found mines
of gold likely to become the principal attractions to colonization,
and a district whose exuberant products would be shortly disseminated
throughout the markets of Europe, as well as of America.
The extension of the population of California which so speedily
occurred, is greatly due to the truly fabulous success of the first
washings; the miners naturally first planted themselves on the richest
“placers,” they rather culled the produce, than exhausted it; they
frequently discovered “pépites” weighing several ounces, if not pounds
of gold; a clever workman made his fortune in a few days.
In June, 1848, Mr. Larkin, Consul of the United States at Monterey,
valued the day’s work of a gold seeker at an average of 15 to 25
dollars ([74]133 to 267 francs). Colonel Mason, in his report of
August, considered the produce of a day’s work of 4,000 European or
Indian miners at [75]30,000 to 40,000 dollars, giving an average of
about 10 dollars [76](53 francs) to each workman. Captain Folson writes
about a month later, “I do not think that there can exist richer
deposits in the world. I have myself ascertained that an active workman
can collect from [77]25 to 40 dollars per day, valuing the gold at 16
dollars the ounce.” Mr. Butler King, whose report is of still later
date, places the average day’s work per man at about 16 dollars, or one
ounce of gold.
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