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What Becomes Of The Specie

What Becomes Of The Specie image
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Wé tuce all awai'e thut thuie lias been constant %ow of silver to the cuuntries of the East, but we uever heard ol its reuiüiug. Tuis has been o evr since lisLury begau, and lbo constant tide of nu-tal that s ever setting iu that direcion, aud wbat becciüs uf it, bus puulod more savaus than une. The enormous absorptioa oi silver by the Eastem 6lute6 oí' the world fa oue of the most retuurkuble. f acts iu the bis tory of the precioua metáis. Prom the earliest i istorio times, the East bas taken little else but süver lor its uominoditios. In the time of Pliny, the exportatioa of preoious metáis trom the West was set down at from $iU0,ÜU0 to $500,0Ü0 a year. The llouiaus had their cliief entre port lor the East in the Islaud of Taprobeua, now callad (Jeylun; aud they curi'ied ou considerable eommerce vviih the ludiaus, Pcrsians and Etbiopians. Thü shawls and StuÖB ol the Eatst fouüil their way to Europe long beloi'e the time of the Crusacles. The Arabs cariied od a large and regular trade id these aLd otner Atlauliu produutions.till the discovery oí' tbe Cape OÍ üood Hopo diverted the course of conimerco. Thu establishment of the overland route has operated to soine extent iu the other direetioii ; but, however aud by vvhom the trade has been carried on, the flow of silver has been generully frum the West toward the East. Humboldt caleulatos that íq the yoar 18U0, the ainouut oí' tsiiver sont Eattward. annually, wus belween twuntyüve aud thirly milliüiis oí dollars. Between 1820 aud 1853, the large umount oí' Syeee nilver reoeived í'roui Chica, aud the export of great quantities of English goods in India, disturbed the flow of silver Eastward, which has, however siuce set in wilh more detenuinuliüii than ever. In 1854 the balance in iavor ot the East was about thirty millionií of dollars. The exportation of' the precio us metala frum Greut Britaifl alone, during the seveu yeara audinj with 1858, was more tban thirty-iivc millions of dollars per annuni, oí whicl all but one-eighth part was iu silver. A the present timo the valué of the imports and export of gold and silver in iavor of the East is ca'culated at froui sixty to eighty millions of dollars per anuum, r more than the lutal yield of all the silver uuues ia the world. Tüe enormous product of gold in Australia aud üalitornia lias heretofore euabled the Western nations to part uith their silver without gruat inconvenience, but the present rate of export of the latter seen s to detuaud soino uew arrangement, if auy can bu practicable. Nearly ail Oriëntale! are given to hoarëing. It is beliüved, says M. Milautue, the French ecoDomist, that the Bgyptians hide away nearly twuniy millions of dollars aucu aily. The Emperors of Morocco hold it a point of honor to ti 11 as mauy chambers as pogsibte with gold and silver. - The present Kmperor h said to havo lilbd seveijteeu, and to have another iu ooorso of beiug iilled. Morocuo never parts with the nioney itreceives; and it s said on the part of ruspectable witnessus, Ihat more than $350,000.000 are boardad away in that country, and that the Kinueroi's treasiire is of the value


Old News
Michigan Argus