America between 1674 and 1723, is estimated at 672 millions of piastres. Reckoning at the same rate the the 283 years between 1492 and 1775, and adding a third for the contraband, we find the total of all the metals imported into Spain 5072 millions of piastres. The same author estimates the gold imported from Brazil since the discovery of that country at 1350 millions, a sum which appears nearly double too much, as we shall prove in the sequel of the discussion. Mr. Necker* in his researches respecting the existing specie in France, estimates the gold and silver received at Cadiz and Lisbon, from 1763 to 1777 at 1600 millions of livres tournois, or 304,800,000 piastres. According to this hypothesis, the total exportation of precious metals from the two Americas would have amounted to 21 millions of piastres per annum, while that of Spain alone according to certain information was more than 30 millions t. On the other hand, M. Gerboux in his discussions on the effects of melting down the gold coinage (demonétization de l'or) values the importation of gold and * Sur le commerce des grains, Liv. ii. chap. v. l'administration des finances. T. iii. chap. viii. p. 71. + Encycl. method. Economie polit, T. ii. p. 324. Gerboux, p. 36, 66, 69, 70. i. 1 De silver into Europe in livres tournois as follows: From 1724 to 1766-4000 millions. 1766 1800-4000... 1789-1803-1500 from whence it would follow that the annual importation from 1724 to 1803 amounted to 21 millions of piastres. Uniting in one point of view the results of all these calculations, which are founded on nothing more than mere conjectures, we find that the mass of registered precious metals imported into Europe, is according to: To avoid as much as possible in these researches the causes of error which are but too numerous, I shall follow a different course from what has been followed by the writers above-mentioned. I shall first state the quantity of gold and silver, which according to the records of the mints and the royal treasury we know to have been extracted from the mines of Mexico and Potosi ; I shall add from the historical knowledge which I acquired respecting the state of the Mexican mining operations, the amount furnished by each metalliferous region of Peru, Buenos Ayres, and New Grenada; and I shall distinguish what has been registered from what has been smuggled. Instead of estimating, as has hitherto been done, the total produce of this contraband trade, at a third or a fourth of the whole of the registered metals, I shall make partial estimates according to the position of each colony, and its relations with the neighbouring countries. When we wish to judge of the greatness of a distance which we cannot measure with precision, we are sure of committing errors of less consequence, if we divide the whole extent into several parts, and if we compare each of these with objects of a known greatness. 1. Quantity of Registered Gold and Silver extracted from the mines of America, from the year 1492 to 1803. A. SPANISH COLONIES. The kingdom of New Spain has furnished the mint of Mexico, between 1690 and 1803, according to the register already given, with The mines of Tasco, Zultepec, Pachuca, and Tlapujahua, were almost the only ones which were worked immediately after the destruction of the city of Tenochtitlan in 1521, and from that memorable period till 1548. As the quantity of gold and silver coined in the beginning of the 18th century, did not exceed five millions of piastres per annum, I reckon from the conquest by Herman Cortez, till 1548, for the total produce of Mexico Piastres. 1,353,452,000 40,500,000 Carried over 1,393,952,000 Brought over In 148 the mines of Zacatecas began to be worked, and the mines of Guanaxuato in 1558; and nearly at the same period amalgamation was invented by Medina. We may reckon from 1548 till 1600, at least two millions, and from 1600 till 1690, three millions per an num The mines of Potosi, supplied from their discovery in 1545, till the year 1808, 1095 millions of piastres, or 128,882,000 marcs; namely from 1545 to 1556, nearly From 1559 to 1789, according to the registers of the treasury already given Piastres. 1,393,952,000 374,000,000 127,500,000 788,258,500 Add on account of the value of the peso de minas, from 1556 |