Beacon Lights of History, Volume 06: Renaissance and Reformation

The mines of Mexico and Peru undoubtedly enriched Spain, and filled Europe with envy and emulation. A stream of gold flowed to the mother country, and the caravels which transported the treasures of the new world became objects of plunder to all nations hostile to Spain. The seas were full of pirates. Sir Francis Drake was an undoubted pirate, and returned, after his long voyage around the world, with immense treasure, which he had stolen. Then followed, with the eager search after gold and silver, a rapid demoralization in all maritime countries.

It would be interesting to show how the sudden accumulation of wealth by Spain led to luxury, arrogance, and idleness, followed by degeneracy and decay, since those virtues on which the strength of man is based are weakened by sudden wealth. Industry declined in proportion as Spain became enriched by the precious metals. But this inquiry is foreign to my object.

A still more interesting inquiry arises, how far the nations of Europe were really enriched by the rapid accumulation of gold and silver. The search for the precious metals may have stimulated commercial enterprise, but it is not so clear that it added to the substantial wealth of Europe, except so far as it promoted industry. Gold is not wealth; it is simply the exponent of wealth. Real wealth is in farms and shops and ships,–in the various channels of industry, in the results of human labor. So far as the precious metals enter into useful manufactures, or into articles of beauty and taste, they are indeed inherently valuable. Mirrors, plate, jewelry, watches, gilded furniture, the adornments of the person, in an important sense, constitute wealth, since all nations value them, and will pay for them as they do for corn or oil. So far as they are connected with art, they are valuable in the same sense as statues and pictures, on which labor has been expended. There is something useful, and even necessary, besides food and raiment and houses. The gold which ornamented Solomon's temple, or the Minerva of Phidias, or the garments of Leo X., had a value. The ring which is a present to brides is a part of a marriage ceremony. The golden watch, which never tarnishes, is more valuable inherently than a pewter one, because it remains beautiful. Thus when gold enters into ornaments deemed indispensable, or into manufactures which are needed, it has an inherent value,–it is wealth.

But when gold is a mere medium of exchange,–its chief use,–then it has only a conventional value; I mean, it does not make a nation rich or poor, since the rarer it is the more it will purchase of the necessaries of life. A pound's weight of gold, in ancient Greece, or in Mediaeval Europe, would purchase as much wheat as twenty pounds' weight will purchase to-day. If the mines of Mexico or Peru or California had never been worked, the gold in the civilized world three hundred years ago would have been as valuable for banking purposes, or as an exchange for agricultural products, as twenty times its present quantity, since it would have bought as much as twenty times the quantity will buy to-day. Make diamonds as plenty as crystals, they would be worth no more than crystals, if they were not harder and more beautiful. Make gold as plenty as silver, it would be worth no more than silver, except for manufacturing purposes; it would be worth no more to bankers and merchants. The vast increase in the production of the precious metals simply increased the value of the commodities for which they were exchanged. A laborer can purchase no more bread with a dollar to-day than he could with five cents three hundred years ago. Five cents were really as much wealth three hundred years ago as a dollar is to-day. Wherein, then, has the increase in the precious metals added to the wealth of the world, if a twentieth part of the gold and silver now in circulation would buy as much land, or furniture, or wheat, or oil three hundred years ago as the whole amount now used as money will buy to-day? Had no gold or silver mines been discovered in America, the gold and silver would have appreciated in value in proportion to the wear of them. In other words, the scarcer the gold and silver the more the same will purchase of the fruits of human industry. So industry is the wealth, not the gold. It is the cultivated farms and the manufactures and the buildings and the internal improvements of a country which constitute its real wealth, since these represent its industry,–the labor of men. Mines, indeed, employ the labor of men, but they do not furnish food for the body, or raiment to wear, or houses to live in, or fuel for cooking, or any purpose whatever of human comfort or necessity,–only a material for ornament; which I grant is wealth, so far as ornament is for the welfare of man. The marbles of ancient Greece were very valuable for the labor expended on them, either for architecture or for ornament.

Gold and silver were early selected as useful and convenient articles for exchange, like bank-notes, and so far have inherent value as they supply that necessity; but if a fourth part of the gold and silver in existence would supply that necessity, the remaining three-fourths are as inherently valueless as the paper on which bank-notes are printed. Their value consists in what they represent of the labors and industries of men.

Now Spain ultimately became poor, in spite of the influx of gold and silver from the American mines, because industries of all kinds declined. People were diverted from useful callings by the mighty delusion which gold discoveries created. These discoveries had the same effect on industry, which is the wealth of nations, as the support of standing armies has in our day. They diverted men from legitimate callings. The miners had to be supported like soldiers; and, worse, the sudden influx of gold and silver intoxicated men and stimulated speculation. An army of speculators do not enrich a nation, since they rob each other. They cause money to change hands; they do not stimulate industry. They do not create wealth; they simply make it flow from one person to another.

But speculations sometimes create activity in enterprise; they inflame desires for wealth, and cause people to make greater exertions. In that sense the discovery of American mines gave a stimulus to commerce and travel and energy. People rushed to America for gold: these people had to be fed and clothed. Then farmers and manufacturers followed the gold-hunters; they tilled the soil to feed the miners. The new farms which dotted the region of the gold-diggers added to the wealth of the country in which the mines were located. Colonization followed gold-digging. But it was America that became enriched, not the old countries from which the miners came, except so far as the old countries furnished tools and ships and fabrics, for doubtless commerce and manufacturing were stimulated. So far, the wealth of the world increased; but the men who returned to riot in luxury and idleness did not stimulate enterprise. They made others idle also. The necessity of labor was lost sight of.

And yet if one country became idle, another country may have become industrious. There can be but little question that the discovery of the American mines gave commerce and manufactures and agriculture, on the whole, a stimulus. This was particularly seen in England. England grew rich from industry and enterprise, as Spain became poor from idleness and luxury. The silver and gold, diffused throughout Europe, ultimately found their way into the pockets of Englishmen, who made a market for their manufactures. It was not alone the precious metals which enriched England, but the will and power to produce those articles of industry for which the rest of the world parted with their gold and silver. What has made France rich since the Revolution? Those innumerable articles of taste and elegance–fabrics and wines–for which all Europe parted with their specie; not war, not conquest, not mines. Why till recently was Germany so poor? Because it had so little to sell to other nations; because industry was cramped by standing armies and despotic governments.

One thing is certain, that the discovery of America opened a new field for industry and enterprise to all the discontented and impoverished and oppressed Europeans who emigrated. At first they emigrated to dig silver and gold. The opening of mines required labor, and miners were obliged to part with their gold for the necessaries of life. Thus California in our day has become peopled with farmers and merchants and manufacturers, as well as miners. Many came to America expecting to find gold, and were disappointed, and were obliged to turn agriculturists, as in Virginia. Many came to New England from political and religious motives. But all came to better their fortunes. Gradually the United States and Canada became populated from east to west and from north to south. The surplus population of Europe poured itself into the wilds of America. Generally the emigrants were farmers. With the growth of agricultural industry were developed commerce and manufactures. Thus, materially, the world was immensely benefited. A new continent was opened for industry. No matter what the form of government may be,–I might almost say no matter what the morals and religion of the people may be,–so long as there is land to occupy, and to be sold cheap, the continent will fill up, and will be as densely populated as Europe or Asia, because the natural advantages are good. The rivers and the lakes will be navigated; the products of the country will be exchanged for European and Asiatic products; wealth will certainly increase, and increase indefinitely. There is no calculating the future resources and wealth of the New World, especially in the United States. There are no conceivable bounds to their future commerce, manufactures, and agricultural products. We can predict with certainty the rise of new cities, villas, palaces, material splendor, limited only to the increasing resources and population of the country. Who can tell the number of miles of new railroads yet to be made; the new inventions to abridge human labor; what great empires are destined to rise; what unknown forms of luxury will be found out; what new and magnificent trophies of art and science will gradually be seen; what mechanism, what material glories, are sure to come? This is not speculation. Nothing can retard the growth of America in material wealth and glory. The splendid external will call forth more panegyrics than the old Roman world which fancied itself eternal. The tower of the new Babel will rise to the clouds, and be seen in all its glory throughout the earth and sea. No Fourth of July orator ever exaggerated the future destinies of America in a material point of view. No "spread-eagle" politician even conceived what will be sure to come.

And what then? Grant the most indefinite expansion,–the growth of empires whose splendor and wealth and power shall utterly eclipse the glories of the Old World. All this is probable. But when we have dwelt on the future material expansion; when we have given wings to imagination, and feel that even imagination cannot reach the probable realities in a material aspect,–then our predictions and calculations stop. Beyond material glories we cannot count with certainty. The world has witnessed many powerful empires which have passed away, and left "not a rack behind." What remains of the antediluvian world?–not even a spike of Noah's ark, larger and stronger than any modern ship. What remains of Nineveh, of Babylon, of Thebes, of Tyre, of Carthage,–those great centres of wealth and power? What remains of Roman greatness even, except in laws and literature and renovated statues? Remember there is an undeviating uniformity in the past history of nations. What is the simple story of all the ages?–industry, wealth, corruption, decay, and ruin. What conservative power has been strong enough to arrest the ruin of the nations of antiquity? Have not material forces and glories been developed and exhibited, whatever the religion and morals of the fallen nations? Cannot a country grow materially to a certain point, under the most adverse influences, in a religious and moral point of view? Yet for lack of religion and morals the nations perished, and their Babel-towers were buried in the dust. They perished for lack of true conservative forces; at least that is the judgment of historians. Nobody doubts the splendor of the material glories of the ancient nations. The ruins of Baalbec, of Palmyra, of Athens, prove this, to say nothing of history. The material glories of the ancient nations may be surpassed by our modern wonders; but yet all the material glories of the ancient nations passed away.

Конец ознакомительного фрагмента.

Текст предоставлен ООО «ЛитРес».

Прочитайте эту книгу целиком, купив полную легальную версию на ЛитРес.

Безопасно оплатить книгу можно банковской картой Visa, MasterCard, Maestro, со счета мобильного телефона, с платежного терминала, в салоне МТС или Связной, через PayPal, WebMoney, Яндекс.Деньги, QIWI Кошелек, бонусными картами или другим удобным Вам способом.