| 1837 | 2,026,740 | 111,858,697 || 1867 | 198,579,510 | 113,758,539 | | 1838 | 4,940,140 | 88,489,324 || 1868 | 340,076,685 | 129,445,268 | | 1839 | 20,670,000 | 73,637,742 || 1869 | 34,186,190 | 68,175,897 | | 1840 | 40,998,240 | 63,795,527 || 1870 | 55,394,800 | 69,051,256 | | 1841 | 12,375,060 | 77,517,941 || 1871 | 50,169,880 | 23,878,499 | | 1842 | 1,852,720 | 68,391,170 || 1872 | -- | 26,838,369 | | 1843 | 2,826,600 | 74,148,998 || 1873 | -- | 156,270,160 | | 1844 | 2,742,260 | 69,134,980 || 1874 | 24,319,700 | 60,609,988 | | 1845 | 119,140 | 89,967,609 || 1875 | 234,912,000 | 75,000,000 | | 1846 | 2,086,420 | 47,886,145 || | | | +------+-------------+-------------++------+-------------+-------------+ During the years 1820-50, when the ratio remained below the legal 15-1/2 and there was a profit on the import of silver, the total silver coinage of the French Mint amounted to £127,458,322, while that of gold reached only £19,333,854. In the succeeding period, 1850-66, when the ratio changed and remained for fifteen or sixteen years in favour of gold, the total gold coinage reached £292,416,951, while the total silver coinage was scarcely more than 1-1/4 millions (£1,315,532). At the beginning of this second period, 1851, the Bank of France held in its reserves approximately only 3-1/2 millions sterling of gold, whereas its silver amounted to more than 19 millions. At the close of the period indicated, 1866, the bank was holding 23 millions sterling of gold against nearly 5-1/2 millions of silver. In the former case the proportion of silver formed 85 per cent. of the total, in the latter only 19 per cent. TABLE OF THE RESERVES OF THE BANK OF FRANCE, 1851-76.