The Continental Monthly, Vol 3 No 3, March 1863. Various

the Christian era, it was one to nine; A.D. 500, it was one to eighteen; A.D. 1100, it was one to eight; A.D. 1400, it was one to eleven; A.D. 1613, it was one to thirteen; A.D. 1700, it was one to fifteen and a half; which latter ratio, with but slight variation, it has maintained to the present day. Gold was considered bullion in Palestine for a long period after silver had been current as money. The first mention of gold money in the Bible is in David's reign (B.C. 1056), when that king purchased the threshing floor of Oman for six hundred shekels of gold by weight. In the early period of Grecian history the quantity of the precious metals increased but slowly; the circulating medium did not increase in proportion with the quantity of bullion. In the earliest days of Greece, the precious metals existed in great abundance in the Levant. Cabul and Little Thibet (B.C. 500) were abundant in gold. It seems to be a well ascertained fact, that it was obtained near the surface; so that countries, which formerly yielded the metal in great abundance, are now entirely destitute of it. Crœsus (B.C. 560) coined the golden stater, which contained one hundred and thirty-three grains of pure metal. Darius, son of Hystaspes (B.C. 538), coined darics, containing one hundred and twenty-one grains of pure metal, which were preferred, for several ages throughout the East, for their fineness. Next to the darics were some coins of the reigns of the tyrants of Sicily: of Gelo (B.C. 491); of Hiero (B.C. 478); and of Dionysius (B.C, 404). Specimens of the two former are still preserved in modern cabinets. Darics are supposed to be mentioned in the latter books of the Old Testament, under the name of drams. Very few specimens of the daric have come down to us; their scarcity may he accounted for by the fact that they were melted down under the type of Alexander. Gold coin was by no means plenty in Greece until Philip of Macedon had put the mines of Thrace into full operation, about B.C. 360. Gold was also obtained by the Greeks from Asia Minor, the adjacent islands, which possessed it in abundance, and from India, Arabia, Armenia, Colchis, and Troas. It was found mixed with the sands of the Pactolus and other rivers. There are only about a dozen Greek coins in existence, three of which are in the British Museum; and of the latter, two are staters, of the weight of one hundred and twenty-nine grains each. About B.C. 207, gold coins were first struck off at Rome, and were denominated aurei, four specimens of which are in the institution before alluded to. Their weight was one hundred and twenty-one grains. Gold coins were first issued in France by Clovis, A.D. 489; about the same time they were issued in Spain by Amalric, the Gothic king; in both kingdoms they were called trientes. They were first issued in England A.D. 1257, in the shape of a penny. Florins were next issued, in 1344, of the value of six shillings. The guinea was first issued in 1663, of Guinea gold. In 1733 all the gold coins—nobles, angels, rials, crowns, units, lions, exurgats, etc., etc., were called in and forbidden to circulate. The present sovereign was first issued in 1817.

      From the commencement of the Christian era to the discovery of America, the amount of gold obtained from the surface and bowels of the earth is estimated to be thirty-eight hundred millions of dollars; from the date of the latter event to the close of 1842, an addition of twenty-eight hundred millions was obtained. The discovery and extensive working of the Russian mines added, to the close of 1852, six hundred millions more. The double discovery of the California mines in 1848, and of the Australia mines in 1851 has added, to the present time, twenty-one hundred millions; making a grand total of ninety-three hundred millions of dollars. The average loss by wear and tear of coin is estimated to be one-tenth of one per cent, per annum; and the loss by consumption in the arts, by fire and shipwreck, at from one to three millions per annum.

      A cubic inch of gold is worth (at £3 17s. 10½d., or $18.69 per ounce) two hundred and ten dollars; a cubic foot, three hundred and sixty-two thousand eight hundred and eighty dollars; a cubic yard, nine millions nine hundred and seventeen thousand seven hundred and sixty dollars. The amount of gold in existence, at the commencement of the Christian era, is estimated to be four hundred and twenty-seven millions of dollars; at the period of the discovery of America, it had diminished to fifty-seven millions; after the occurrence of that event, it gradually increased, and in 1600, it attained to one hundred and five millions; in 1700, to three hundred and fifty-one millions; in 1800, to eleven hundred and twenty-five millions; in 1843, to two thousand millions; in 1853 to three thousand millions; and at the present time, the amount of gold in existence is estimated to be forty-eight hundred millions of dollars; which, welded into one mass, could be contained in a cube of twenty-four feet. Of the amount now in existence, three thousand millions is estimated to be in coin and bullion, and the remainder in watches, jewelry, plate, etc., etc.

      The Russian gold mines were discovered in 1819, and extend over one third of the circumference of the globe, upon the parallel of 55° of north latitude. Their product, since their discovery to the present time, has amounted to eight hundred millions of dollars. The California gold mines were discovered by William Marshall, on the ninth day of February, 1848, at Sutter's Mill, upon the American Fork, a tributary of the Sacramento, and extend from 34° to 49° of north latitude. Their product, since their discovery to the present time, has amounted to one thousand and forty-seven millions of dollars. The Australia gold mines were discovered by Edward Hammond Hargraves, on the twelfth day of February, 1851, in the Bathurst and Wellington districts, and extend from 30° to 38° of south latitude. Their product, since their discovery to the present time, has amounted to nine hundred and eleven millions of dollars. The finest gold is obtained at Ballurat, and the largest nugget yet obtained weighed twenty-two hundred and seventeen ounces, valued at forty-one thousand dollars. In shape it resembled a continent with a peninsula attached by a narrow isthmus. The annual product of gold at the commencement of the Christian era is estimated at eight hundred thousand dollars; at the period of the discovery of America it had diminished to one hundred thousand dollars; after the occurrence of that event it gradually increased, and in 1600 it attained to two millions; and in 1700, to five millions; in 1800, to fifteen millions; in 1843, to thirty-four millions; in 1850, to eighty-eight millions; in 1852, to two hundred and thirty-six millions; but owing to the falling off of the California as well as the Australia mines, the product of the present year will not probably exceed one hundred and ninety millions.

      Since 1792 to the present time, the gold coinage of the United States mint has amounted to seven hundred and forty millions of dollars, of which six hundred and fifty-five millions have been issued since 1850. The gold coinage of the French mint, since 1726, has amounted to eighty-seven hundred millions of francs, of which fifty-two hundred and fifty millions have been issued since 1850. The gold coinage of the British mint, since 1603, has amounted to two hundred and eighty millions of pounds sterling; of which seventy-five millions have been issued since 1850. The gold coinage of the Russian mint, since 1664, has amounted to five hundred and twenty-six millions of roubles, of which two hundred and sixty millions have been issued since 1850. The sovereign of England contains one hundred and twelve grains of pure metal; the new doubloon of Spain, one hundred and fifteen; the half eagle of the United States, one hundred and sixteen; the gold lion of the Netherlands, and the double ounce of Sicily, one hundred and seventeen grains each; the ducat of Austria, one hundred and six; the twenty-franc piece of France, ninety; and the half imperial of Russia, ninety-one grains. A commissioner has been despatched by the United States Government to England, France, and other countries of Europe, to confer with their respective governments upon the expediency of adopting a uniform system of coinage throughout the world, so that the coins of one country may circulate in any other, without the expense of recoinage—a consummation most devoutly to be wished.

      The fact that the large amount of gold which has been thrown into the monetary circulation of the world within the last fourteen years, has exercised so little influence upon the money market or prices generally, is at variance with the predictions of financial writers upon both sides of the Atlantic. The increase in the present production of gold, compared with former periods, is enormous; and it would not be surprising if, in view of the explorations which are going on in Africa, Japan, Borneo, and other countries bordering upon the equator, the product of the precious metals within the next decade should be a million of dollars daily. The price of gold has not diminished, although the annual product has increased fivefold within twenty years.

      LAST WORDS

      I am at last resolved. This taunting devil shall possess me no longer. At least I will meet him face to face. I have read that the face of a dead man is as though he understood the cause of all things, and was therefore profoundly