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
Uniting the products of the three great gold regions, we find that
Siberia, California, and Australia, are expected to supply in 1852,
about [129]600,000,000 francs: a mass of gold equal to about 175 tons
in weight. It should be borne in mind, that China and Japan have
also their mines of gold and silver in full work; the produce of
which does not appear, however, to leave those countries. The Chain
of the Himalaya possibly contains mineral wealth equal to that of
the Cordilleras, the dorsal division of South America, from Chili to
Oregon. It is also said, that the inhabitants of Thibet have begun
to work their golden alluvial deposits. All the mines in the world,
therefore, are not yet fully worked; and there will, probably, be
an ample supply for some generations to come. The gold supplied by
America, independently of California, can hardly be estimated at
above [130]8,000 kilogrammes per annum. Hungary is the only country
in Europe, excepting Russia, which is producing about [131]2,000
kilogrammes of gold. The quantity from Africa is very small; and
[132]3,000 or 4,000 kilogrammes is the whole of the known produce of
the washings in the Straits of Sunda, and in the peninsula of Malacca.
From all which sources united, an approximative value may be fixed at
from [133]40,000,000 to 50,000,000 francs. To sum up the whole, then,
it would appear that the gold production of 1852 may be estimated at--
For California 300,000,000 francs = £12,000,000
” Australia 160,000,000 ” 6,400,000
” Oural and Altai 90,000,000 ” 3,600,000
” rest of the world 50,000,000 ” 2,000,000
----------- -----------
Making a total of 600,000,000 francs = £24,000,000
It has been already stated, that California produced [134]750,000,000
francs during the four years 1848 to 1851. Russia, during the same
period, at the rate of [135]100,000,000 fr., will have produced
[136]400,000,000, and the other gold districts [137]200,000,000. Thus,
in the five years ending with 1852, the total production including
Australia, will probably amount to nearly [138]two milliards of francs:
a result unexampled in history; gold has never previously flowed from
such numerous channels, and from such abundant sources.
VI.
Public-domain text, read in full here on John Shaqi.
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