Scandinavian kingdoms; and France has closed her mint, since 1877,
against silver, to avoid being deluged with the metal, discarded by her
neighbors.

Silver, owing to the lesser amount in existence, and its less convenient
portability, is fast being superseded by gold in monetary circles. Of
the amount of the precious metals in existence, $8,166,000,000 are
furnished by gold; and of their annual product $98,000,000 are furnished
by it. The ratio of silver to gold has risen from fifteen and one-half,
which it has maintained since 1700, to nineteen and one-half, at the
present time, and with a still rising tendency. Owing to the great loss
by abrasion of coin the amount of silver in existence has gained but
little within the last forty-two years, it having increased but nine per
cent, while that of gold has increased three hundred and thirteen
per-cent. The price of the precious metals follow the great
politico-economic law of supply and demand. Gold, owing to its great
demand for international exchanges, has maintained its present price for
the last one hundred and sixty years, while silver has declined
twenty-two per cent. within thirteen. The _prestige_ enjoyed for
centuries, as the instrument and measure of commerce in all the
civilized and trading parts of the world, and its normal currency, has
been gradually lost since 1843, and will probably never be recovered by
silver.

* * * * *




RAMBLES AMONG MASSACHUSETTS HILLS.