furnished in one year as much silver as the whole kingdom of Peru. It is but thirty years since the veins of the Real de Catorce began to be worked, and yet by the discovery of these new mines the metallic produce of Mexico was increased nearly one sixth. If we consider the vast extent of ground occupied by the Cordilleras, and the immense number of mineral depositories which have never yet been attempted*, it is very possible that New Spain, under a better administration, and inhabited by an industrious people, may alone one day yield, in gold and silver, the hundred and sixty-three millions of francs at present furnished by the whole of America. In the space of a hundred years, the annual produce of the Mexican mines rose from twenty-five, to one hundred and ten millions of francs. If Peru does not exhibit an equal augmentation of wealth, it is because this unfortunate country has not increased its population, and because, being worse governed than Mexico, industry found more difficulties to overcome. Besides, nature has deposited the precious metals in that country at enormous elevations, in situations where, on account of the very high price of provisions, the working becomes extremely expensive. The abundance Especially from Bolaños to the Presidio de Fronteras. of silver is in general such in the chain of the Andes, that when we reflect on the number of mineral depositories which remain untouched, or which have been very superficially wrought, we are tempted to believe, that the Europeans have yet scarcely begun to enjoy the inexhausti ble fund of wealth contained in the New World. When we cast our eyes over the mining district of Guanaxuato, which, on the small space of a few thousand square metres, supplies annually the seventh or eighth part of all the American silver, we shall see that the 550,000 marcs which are annually extracted from the famous veta madre are the produce of only two mines, the Valenciana and that of the Marquis de Rayas, and that more than four fifths of this vein have never yet been attempted. It is very probable, however, that in uniting the two mines of Fraustros and Mellado, and clearing them out, a mine would be found of equal wealth with that of Valenciana. The opinion that New Spain produces only perhaps the third part of the precious metals which it could supply under happier political circumstances, has been long entertained by all the intelligent persons who inhabit the principal districts of mines of that country, and is formally announced in a Memoir presented by the deputies of the body of miners to the king in 1774, a production drawn up with great wisdom and know ledge of local circumstances. Europe would be inundated with precious metals, if they were to work at the same time, and with all the means afforded by the improvements in the art of mining, the mineral depositories of Bolaños, Batopilas, Sombrerete, Rosario, Pachuca, Moran, Zultepec, Chihuahua, and so many others which have been long and justly celebrated. I am aware, that in thus expressing myself, I am in direct contradiction with the authors of a great number of works of Political Economy, in which it is affirmed that the mines of America are partly exhausted, and partly too deep to be worked any longer with advantage. It is true no doubt, that the expences of the mine of Valenciana have doubled in the space of ten years, but the profits of the proprietors have still remained the same; and this increase of expence is much more to be attributed to the injudicious direction of the operations than to the depth of the pits. They forget that in Peru, the famous mines of Yauricocha or Pasco, which annually supply more than 200,000 marcs of silver, are yet only from thirty to forty metres in depth.* It appears to me superfluous to refute opinions which are at variance with the numerous facts brought forward by me in this chapter; nor need we be astonished at the *From 98 to 131 feet. Trans. ignorance we betray in Europe with regard to the state of the mines of the New World, when it is considered how little accuracy is displayed by the most celebrated politicians in their investigations regarding the state of the mines of their own country. But what is the proportion between the produce of the Mexican mines, and the produce of the other Spanish Colonies? We shall successively examine the wealth of Peru, Chili, the kingdom of Buenos Ayres, and New Grenada. It is known that the other great political divisions, namely, the four capitanias generales of Guatimala, the Havannah, Portorico, and Caracas, contain no mines which are wrought. I shall not follow the vague and imperfect data to be found in several very recent works, but shall discuss only what I have been able to procure from official papers communicated to me. I. There has been given into the mint at Lima, marcs of silver. marcs of gold. From 1754 to 1772-6,102,139 and 129,080 1772 1791-8,478,367 80,846 The value of the gold and silver* amounted in the first of these periods to 68,944,522 * Unanue, Guia politica del Peru, 1790, p. 45. Financial. piastres, and in the second to 85,434,849 piastres †, which on an annual average of gold and silver is From 1754 to 1772-3,830,000 piastres ‡. 1772- 1791-4,496,000 §. The produce of gold has diminished while that of silver has considerably increased. In 1790, the produce of the mines of Peru || amounted to 534,000 marcs of silver, and 6,380 marcs of gold. Between 1797 and 1801, there was coined at Lima gold and silver to the amount of 26,032,653 piastres. The following table points out the produce of the mines year after year**. * £14,478,349 Sterling. Trans. $ £943,026 Sterling. Trans. || Mercurio peruano. Vol.i. p. 59. ¶ £5,466,000 Sterling. Trans. **Razon de lo que se ha acuñado en la real casa de moneda de Lima. (MS.) |