THE CAUTIOUS DUTCHMAN. CALIFORNIA GOLD. [ From the " Economist." ]

New Zealander, Volume 6, Issue 450, 7 August 1850, Page 3

THE CAUTIOUS DUTCHMAN. CALIFORNIA GOLD. [ From the " Economist." ]

It hag somewhere beeu said of a veiy cautious mfin that he was so much engaged in speculating upon the possible coiuingenciei of tbe future, that he never lived in the prtient. How many people have we all known, who, rolling tv present wealth, never knew what a moment's enjoyment was, from apprehension of future povcity— who never lived comfortably m a decent room under the fear that they would die miserably in a work-house— who could not persuade themitlves to use things as long as they possessed them, for some vague apprehension that they would not he at their service at some future time. The recent legislation of the Dutch in respect to their gold coinage, is a forcible example of this provtrbial caution. Tliey are determined to take time by the forelock— and who ever it to be left in tlie lurch with chests full of worthless tfold, the Dutchman is determined that he, at least, will not be that man. While the English and the Americans have been speculating upon the consequences of the discoveiy of California, the Dutch have beeu legislating to provide for them. They hate already passed a law abolishing for all future time the u»e of gold coins in Holland, lest some fine morning they suddenly find that gold is woithno more than lead. In future, a Dutchman's faith is to be confined to silver and to copper. And Antwerp, catching the infection from Amsterdam, ha* already ddibeiated what is to be done to save .Belgium from the torrent of gold. They have taken the nn>t preliminary act for their secuniy. The Chamber of Commerce has met, and has agieed to a firm uu< rei speittul reniou* rauce to the government against coining any more twenty -franc pieces. They call upon [ King Leopold and Ins ministeri to use the utmost caution in pei milting any longer the circulation of gold coins ; and we suppose that the caution spp'ie^ etjiully to foreigu aa to Belgian coins. Cer uiu u n, tint early

in 1848 a law was passed in Belgium making English sovereigns a legil tender £it the ' Exchange of 25 francs and 5Q cents men ; and that this law has very recently [ been revoked by a royal edict, which took effect from the 28th uft. Whether thin decision as caused by the movement at Antwerp, or hy the state of the Exchange, does not exactly appear. We have so much respect for the good sense of Leopold *nd his ministers, that we consider it was the latter. But are the Dutch Government and the Antwerp Chamber of Commerce not very rash to place so. much faith in silver? What if it turn out— which we are well informed is voy likely to be the ca^e— that the discoveriei in California have a greater effi'crin mak»' ing silver abundant and cb^ap, even tl.kn £old ? Ihe tnobt important and valuable! discovery in (California, when sodi"ty shall hwe been a little orga^iseMj! is said' to be that of inexhaustible 'qu'arilifid of jNow, it is well known khrft vti(ii*a Uheiiii'^u'pply'af quicksilver the pioduc inn of ?ilyt J i'sn Mfe^'co itfahl be 1 doubled— aye, quadrupicd,'in W-6'or' t\*r^&«^ifrf/'Mpru 1 than half ibe number of l BiHfi'' *?friiej'ift'UlyT, cJauaWy have stood unworked for years 1 iysiti, "Avm -(he"' high price ofxjuicl^ilver. With alplenTifua 1 plenTiful <I kn/c?.e^p'sapply l from California, these 'will 'hwill tife 1 VorScdyahd 1 ' the piobabiiuy is that silver will fi*l With at'\f-\ii as grbat a velocity us gold. In what, t/ieh; foill the Dutch and the Belgians take iefuge JPor' a circulating' medium 1 secure against depieaatitm ? ' " ' ''