WHERE THE GOLD GOES.

Grey River Argus, Volume XII, Issue 1249, 31 July 1872, Page 2

WHERE THE GOLD GOES.

In the reign of Darius gold was thirteen times more valuable, weight for weight, than silver. In the time of Plato, it was twelve timos more valuable. In that of Julius Ctßsar, gold was only nine times -, more valuable, owing, perhaps, to thp enormous quantity of gold seiwd by him in his wars. It is a natural question to . ask — what became of the sold and silver ? A paper read before the. Polytechnic Association by Dr Stevens, recently, is calculated to meet this enquiry; He says of our annual gold product, fully fifteen percent is melted down for manufacture; thirtyrfive per cent, goes" to Europe i twentyrfive per centl :: to Cuba j fifteen per cent, to Brazil; five per cent, for circulation in 'Great Britain. Of that which goes to Cuba, the West Indies and Brazil, fully fifty-per cent, finds its way to Europe, where, deducting a large percentage used in manufacturing, four-fifths of the remainder is exported to India. Here the transit of the precious metal is at an end. Here the supply, however vast, is absorbed, and never returns to the civilised world. The Orientals consume but little, while their productions are ever in demand among the Western nations. As mere recipients these nations have acquired the desire of accumulation and hoarding, a fashion common alike to all classes among the Egyptians,. Chinese, and Persians. A French economist says, in his opinion, the former nation alone can hide away twenty million dollars of gold and silver, annually, and the present Emperor of Morocco is reported as so

■ ■ .. ... .. ■ addktod to thii avaricious mania that he hai filled 17 large chambers with the precious metals. The passion of prinoes, it is not surprising that the same spirit is shared by their subjeots, and it is in this predilection that we discover the problem as to the ultimate disposition of the precious metals. This absorbtion by the Eastern nations has been nninteutiptedly going on since the most remote historical period. According to Pliny as much as one hundred million dollars in gold was, in his day, annually exported to the East. The balance of trade in favor of thoie nations is now given at eight million dollars. ____________