and Oceanica), $945,000,000 from Europe, and $1,250,000,000
from Africa. The amount of the precious metals now in existence is
estimated to be $13,670,000,000.

Gold, as compared with former periods, in regard to its annual product,
has attained, within the last forty-two years, to enormous proportions.
At the date of the discovery of America it was but $100,000; after the
occurrence of that event it gradually increased, and in 1800 it was
$17,000,000, and in 1853 it reached its acme, when it was $236,000,000;
it soon afterwards gradually decreased, and now it is but $98,000,000.

Gold has changed places with silver as regards coinage. Since 1726 the
gold coinage of the French mint has amounted to 11,400,000,000 francs,
of which 8,200,000,000 francs have been issued since 1850. Since 1603
the gold coinage of the British mint has amounted to L409,000,000, of
which L253,000,000 have been issued since 1850. Since 1792 the gold
coinage of the United States mint has amounted to $1,357,000,000, of
which $1,257,000,000 have been issued since 1850. Since 1664 the gold
coinage of the Russian mint has amounted to 900,000,000 roubles, of
which 630,000,000 have been issued since 1850. The twenty-five-franc
piece of France contains 112 grains of pure metal; the sovereign of
England, 113 grains; the new doubloon of Spain, and the half-eagle of
the United States, 116 grains each; and the gold lion of the
Netherlands, and double-ounce of Sicily, 117 grains each. It was
proposed, a few years since, to adopt a uniform system of coinage
throughout the world, so that the coins of one nation may circulate in
any other without the expense of re-coinage, "a consummation devoutly to
be _wished_." The gold coinage of the principal countries of the world
has increased from $77,000,000 in 1848 to $300,000,000 in 1854; in 1876
it declined to $250,000,000, since which it has continued to decrease,
and is now but $90,000,000. The gold coinage of the United States mint,
since 1849, has amounted to $1,281,420,038. In proportion as the wealth
of a country increases it requires a currency of higher value. Gold,
owing to its greater supply, and more convenient portability, is
steadily gaining in the channels of commercial exchange upon silver.

Gold, in view of the large amount which has been thrown into the
monetary circulation of the world since 1843, and the little influence
it has exercised upon the money market and prices generally, has
falsified