402 Miscellanies. 



But it is not alone this extraordinary decrease in the supply to 

 which the rise in value of the precious metals is attributable. Be- 

 sides this, there has been a great increase in the demand for gold 

 and silver, since ISIO, consequent in part upon the augmented con- 

 sumption. 



The number of. gold and silver watches manufactured in France 

 was, in 1789, 200,000, and in 1819 had increased to 300,000. At 

 present it is stated at 400,000. 



In Mr. Huskisson's speech of 18th May, 1830, it is stated that the 

 duty upon wrought gold and silver had risen in net produce, from 

 less than £5,000 in 1824, to upwards of £105,000 in 1828— 'a 

 rise more than twenty fold, notwithstanding the greatly diminished 

 supply from the mines, and the consequent constantly increasing 

 value of the precious metals." A numerical statement of the actual 

 supply and demand of the precious metals for the last nineteen years 

 gives the following result. The supply for these nineteen years 

 being estimated at 23,980,000 annually, making an aggregate of 

 435,980,000. Taking the metallic currency of the world at 

 3,000,000,000 of dollars, and estimating the wear and tear, re- 

 coining, and loss by shipwreck, at 2 p. mille, annually, it would in 

 nineteen years amount to $114,000,000 



The increase of the absolute quantity which has 

 become requisite since 1810, estimating at 6 per 

 cent. 180,000,000 



The chasm in circulation occasioned by withdrawing 



paper money since 1815, and since filled up by ^^ 



gold and silver coin, 300,000,000 



And finally, the consumption of the precious metals 

 by artificers, he. at 30,000,000 dollars annually, 

 amounts in nineteen years to ' 570,000,000 



Total demand since 1819, 1,164,000,000 



Deduct supply from mines, 455,620,000 



The deficiency appears to have been 708,380,000 



The total produce from the much celebrated Ural mines in Rus- 

 sian Asia, from 1814 to 1824, has not exceeded, according to Hum- 

 bolt's estimate, $17,000,000 i. e. 1 1,700,000 annually. By the 

 most recent accounts from Chili, the yearly produce of the mines is 

 stated to be 190,000 dollars, including, as would seem, silver as well 

 as gold. 



