316

TRADE WITH

CHAP XXVI-

of gold and silver in one of the first houses in thetrade during more than thirty years, that not one-hundredth part of what passes through their scalesconsisted of gold and silver that had before beenmanufactured. Similar assertions have been madeby all others who have been questioned on theparticular topic. We cannot, therefore, deemthese meltings of old gold and silver goods to havecontributed more than a fortieth part to the pre-cious metals that have been applied to useful orornamental purposes during the last twenty years.In making, then, such a deduction on that ac-count, we venture to estimate the whole quantityof the precious metals taken from the general stockof them, and destined to purposes of ornamentaland useful gratification, to amount annually to thesum of five million eight hundred and ninety-threethousand two hundred and forty-one pounds.

In the former parts of this inquiry, in all therecent divisions of the subject, a large and ratherdoubtful allowance has been made for that portionof the precious metals which passed to the severalparts of Asia by the channels which Humboldt has traced. A great change has been effected inthe commerce of the East within a few late years,owing to circumstances which it is not within thedesign of this inquiry to do more than notice, asfar as they are connected with the subject of thedemand for the precious metals. That demandappears to have lessened within the last twenty