OCR Text |
Show Where Gold Goes To. A considerable part of all the gold which goes to India never returns. Having Hav-ing been obtained in the west by the sale of exported productions, it is retained in the east as realized profits, wealth stored up, and to a moderate extent for use in the arts, for the rest as a representative of value on the credit of which traders buy and sell with the bills of exchange they issue and the book credits they open, and settle up the differences with the silver money of the country. But the vast stock of gold accumulated there undergoes no diminution. There is no ebb and flow under the reciprocal action which commerce enforces iu the case of countries trading together on a common metallic basis. The three millions mill-ions sterling (or thereabout) of gold bullion bull-ion which India anuually adds to her store are, under the monetary law of that country, just as much lost to the rations of the west, by being withdrawn with-drawn from the general commerce of the world, as if the money bad bfen lent to a booth American republic. Between the years 1&35 and 18S!J (April) this depletion amounted in value to 130.202,75$. Between that date and the month of September, 1890, a further accumulation, to the value of 5,069,-2T2, 5,069,-2T2, took place, bringing this portion of the gold treasure of India up to a value exceeding 135,250.000. Blackwood's Magazine. |