1. On an Apprehended Depreciation of Money, arising from New Supplies of Gold

Extract

The annual production of gold, in Europe, America, and Northern Asia, at the beginning of the present century, which was estimated by Baron Humboldt in round numbers at something over two and a half millions sterling, continued at about the same rate until additions began to be received from the renewed working of the Russian mines. These additions, which, for the period intervening between 1810 and 1822, are estimated by M. Michel Chevalier not to have exceeded in all one million and a half, gradually increased, until in 1847 they amounted to upwards of four millions per annum.