during the last autumn. They will be found, I fear, to bear the marks of haste, and of the many disadvantages under which they were composed; but I was averse to delay the publication, because I conscientiously believe, that the facts which are stated, and the inferences fairly deducible from them, if carefully studied, will tend to the dissemination of sounder opinions than are now generally entertained upon a subject which I cannot but regard as of intense interest, as well as of great practical importance, to all ranks and classes of society.

NOVEMBER, 1852.

Functions of money—various materials which have been

employed to perform these functions,

20

LETTER III.

Reasons why the precious metals have been selected as the

materials of money, .

25

LETTER IV.

Rules to be observed in the coinage and issuing of

LETTER VI.

Will the increased supplies of gold reduce the interest

of money?.

LETTER VII.

Page 47

Money a universal equivalent—its local value fluctuates—

its permanent value is regulated by the cost of obtaining

the metal which forms the standard—recent rise of wages

and prices in Australia,

LETTER VIII.

59

Laws which determine the permanent value of the precious

metals-Opinions of Adam Smith, Mr Ricardo, Mr

M'Culloch, and Mr James Mill,

LETTER IX.

69

Laws which determine the value of the precious metals—

Opinions of Mr J. S. Mill-Potential and actual en-

largements of supply-Phenomena of prices in Aus-

tralia,

80

LETTER X.

American mines and European prices. State of the

argument,

93

LETTER XI.

State of the circulating medium, and prices of labour

and commodities anterior to the discovery of Amer-

ica,

LETTER XII.

Page 100

American mines and European prices-period from 1492

to the discovery of Potosi in 1545,

LETTER XIII.

106

American mines and European prices-Period from the

discovery of Potosi in 1545, to the general rise of prices

about 1574,

.

112

LETTER XIV.

American mines and European prices-Period from 1574

to 1650, when the first enhancement of prices consequent

upon the discovery appears to have ceased,

LETTER XV.

124

American mines and European prices-Century from

1650 to 1750, when a second general elevation of prices

LETTER XVI.

American mines and European prices-Period from 1750

to the suspension of cash payments in 1797, Page 144

LETTER XVII.

American mines and European prices-State of the mines

Gold-conditions of its production as compared with silver

-

- California and Australia

recent accounts

re-

markable rise in the price of labour and commodities

since the discovery of the gold-fields,

LETTER XIX.

159

Supplies of gold in the early part of the present century—

supplies since the discovery of the Russian, Californian,

and Australian deposits—Coinage of gold, and its con-

sumption in the arts—Future prospects,

181

LETTER XX.

Produce of silver-value of that metal in relation to