October 30, 1852
1 min read
Add Us On GoogleAdd SciAmWhat is to be Done with all the Gold
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By the arrivals from California gold keeps flowing in, like a steady stream, to the Atlantic States. We have the same accounts from Australia. Some of the ships which arrived in London recently brought from a million to two million of dollars worth of the precious metal. Allowing this great yield of gold to pour into the markets of America and Europe for some years to come, it must affect the currency in a most sensible manner. As yet things seem to flow on in the usual course, so far as the old standard value of the gold is concerned, and it is to be hoped that whatever change takes place, it will not be sudden, but gradual and temperate, in order that no revulsion in any branch ot business may be caused thereby. It is the duty of bankers and national financiers to look this matter firmly in the face, and devise measures, if they can for the steady and regular procession of all kinds of business dependant upon the financial operations of banking firms
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