The Production and Waste of Money. 271 



in collections or museums, of a date anterior have long since 

 found their way back to the crucibles of the Mint, or else been 

 cast into American Eagles and French Napoleons. 



It appears, then, from official statements annually made to 

 the House of Commons, that there have been struck and issued 

 from the British Mint since the period named, and up to the 

 present moment — 



Double Sovereigns . . . 16,119 



Sovereigns . ' .... 146,071,897 

 Half-sovereigns .... 26,592,903 



Total 172,680,919 



By far the largest proportion of the two last-named denomina- 

 tions of money — the double sovereign* having, unfortunately, 

 become obsolete — were coined during the reign of her Majesty. 

 The years 1853 and 1855 were indeed pre-eminently fruitful. 

 In the first no less than eleven millions nine hundred and fifty- 

 two thousands and ninety one pounds sterling, in sovereigns 

 and half-sovereigns, were pressed into being ; and in the 

 second, 1855, nearly ten millions sterling came forth from the 

 Mint in the shape of gold coins. The united productions of 

 those two years therefore give a grand total equal to more than 

 one-eighth of the entire gold coinages of the whole forty-seven 

 years in question ! 



Taking into account the continuous influx of light gold to 

 the Bank of England, and its subsequent relegation to the 

 Royal Mint for re-coinage, together with the not less constant 

 efflux of gold coin to the Continent, and to other and more dis- 

 tant parts of the world, as India and Australia, it may be safely 

 calculated that the absolute circulation of gold money remaining 

 at home amounts in value to one hundred and twenty millions 

 sterling. Allowing, now, the population of the British Isles to 

 be thirty millions, it is plain that, equally distributed among 

 the Queen's lieges, the gold coinage is sufficient to supply each 

 inhabitant, young and old, with the sum of four pounds sterling ! 

 The total weight of the most precious metal thus absorbed is 

 in round numbers not less than twelve hundred tons. 



Of the silver coinage of the realm, it appears, by the indis- 

 putable testimony of official returns, and from evidence fur- 

 nished by Professor Graham, Master of the Mint, in 1859, that 

 there were then in circulation among the subjects of Queen 

 Victoria : — 



* This coin might well be reproduced under the name of the " Victoria." It 

 is well proportioned, and would be found highly useful. 



