The probable effect of the kte gold discoveries on European currency and prices form the subject of an elaborate essay by M. Leon Faucher, in the last number of the Revue dcs Deitx Mondes, M. Faucher believes that the great influx of gold will be but temporary, and that the area on which it will operate is so vast that the general level of value will be affected to a very small extent. A quarter of a century must, he says, elapse before, at the present rate of production, a sum of gold Is accumulated equal to the annual income of of England alone. One-half, moreover, of the population of Europe is insufficiently provided with metallic money ; and the stream of gold must overflow into Spain, Austria, and the-pro-vinces of the Danube, as well as into the remoter regions of India and China, before it saturates the circulation of the commercial nations—England, Belgium, Holland, and France* _",
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New Zealander, Volume 9, Issue 711, 5 February 1853, Page 3
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156Untitled New Zealander, Volume 9, Issue 711, 5 February 1853, Page 3
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