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
Australia produces wheat, Indian corn, and barley, in abundance; they
have planted vines, from which they are making good wine; tobacco is
successfully and extensively cultivated; but the principal source of
wealth is derived from the growth of wool, for the production of which
the lands watered by the tributaries of the Murray are as well adapted
as the valley of the Mississippi is for the production of cotton.
Australia takes a prominent position with respect to civilization, in
the midst of the pastoral employment of her population. It is a vast
arcadia, the poetical side being cast into shade by the industrial
occupation of its inhabitants, and perhaps somewhat damaged by a very
natural corruption of morals. It has been called a mine of wool and
tallow; 20,000,000 of sheep are said to be pastured on its plains.
In England the use of Australian wool has almost entirely superseded
that of Germany and Spain, and the Yorkshire manufacturers cannot now
dispense with it. In 1850 Australia exported 137,000 bales, and in
1851, 130,000; 130,000 bales are worth about [109]65,000,000 francs.
The mother country receives, then, from Australia about £3,000,000
sterling of raw material in exchange for £3,000,000 of English
manufactures; the result is most profitable for capital and labor; it
is to this beneficial and flourishing trade that the sudden appearance
of gold has threatened a most unexpected and alarming interruption.
Sir Roderick Murchison, whose opinions are considered as of high
authority, commenting on the writings of Count Strelecki on the geology
of New South Wales, announced, in the year 1845, that gold would be
found in the sides of those great chains of hills, which may be called
their Alps or their Pyrennees. At different times, fragments of the
precious metal had been brought either to Sydney, or to Melbourne,
without having excited the belief in the minds of the public that they
were really the product of their own soil. In the month of March,
1851, a person, less incredulous than his neighbours, a Mr. Hargraves,
struck with the similarity of the geological features of the country to
California, whence he had lately arrived, made up his mind that gold
must be to be found in New South Wales, and set himself resolutely to
work to hunt for it at the foot of the mountains, and in the beds of
the adjacent rivers. Having found some small portions, he followed the
pursuit until he had satisfied himself of the existence of gold in a
great number of places. He then went to Bathurst, an advanced post in
the country, called a public meeting, openly announced his discovery;
and in order to give practical proof, took many of his hearers to the
seat of his own exploits, in a little valley at the foot of Mount
Sumner, where he employed nine miners to dig actively, and to wash
the earth. Four ounces of the purest gold were brought to light, as
the produce of three days’ labor; each man had gained £2 4s. 4d. (61
Public-domain text, read in full here on John Shaqi.
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