The Continental Monthly, Vol 2, No 6, December 1862: Devoted to Literature and National PolicyVarious
History
The Continental Monthly, Vol 2, No 6, December 1862: Devoted to Literature and National Policy
Various
Literature, Modern -- 19th century -- Periodicals; United States -- Politics and government -- 19th century -- Periodicals
'As the development of the mineral wealth of the country advances
not only of the gold and silver of California, but of Oregon,
Washington, Nevada, Colorado, and New Mexico, and the vast mines of
useful metals scattered there and elsewhere, with exhaustless
supplies of coal to fashion and mould these for the various
purposes of life, the yield in a few years may reasonably be
estimated at $100,000,000; and when the Pacific railroad shall have
spanned the interior, it may be augmented to one hundred and fifty
millions of dollars' worth of mineral product.'
This annual product, as estimated by the Commissioner, would make the
total value of these lands exceed one billion of dollars.
There may be differences of opinion
as to this estimate of the Commissioner: some may think it too large,
and others too small; but, however this may be, it is quite clear that
the subject demands the earnest consideration of the country.
No period has been so auspicious as the present to rearrange our gold
coinage. Gold has ceased here to be a currency, and is used only in
payment of our public debt and receipts of customs.
It is important that our gold coinage (retaining the decimal system) and
that of England should be assimilated. This could be easily done by
having in our half eagle the same amount of gold and alloy as in the
British sovereign, carrying the system through our whole gold coinage.
Thus, exchange here upon England or there here, would be quoted and
governed by the same rules which regulate exchange between our own
cities, and all the mystery and losses of our present system would
disappear. This change would slightly depreciate our present gold
coinage, but would not affect individual transactions, treasury notes
being our currency and a legal tender. Should this plan be adopted,
England could stamp on her sovereign, _Equal to a U. S. half eagle_, and
we could stamp on our half eagle, _Equal to a British sovereign_, and
thus furnish a currency, which from necessity would in time be adopted
by all the world, avoiding vast trouble, loss of time, and litigation,
and saving millions of dollars every year. This measure would soon prove
the superiority of our decimal system, and render it _universal_. The
United States and England being the two great commercial and gold
producing nations, speaking the same tongue, and having the same
coinage, would make the coin and the _language of the coin_ of the world
the same, the first great step toward a universal language. This
assimilation of the value and language of coin would lead to the
decimalizing and assimilation of weights and measures, both grand
movements toward the fusion of nations and fraternity of man.
LITERARY NOTICES
THE NEW GYMNASTICS FOR MEN, WOMEN, AND CHILDREN. By DIO LEWIS, M.D.
With three hundred illustrations. Boston: Ticknor & Fields. 1862.
Public-domain text, read in full here on John Shaqi.
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