Page:Mexico (1829) Volumes 1 and 2.djvu/422

 382 ]»»XIC0. deavoured to develope in the prececKng pages, namely, that no portion of this capital can be included in the registered Exports, to the amount of which it must ccwasequently be added. Having arrived at this conclusion, it remains to fix the sum, at which the capital actually withdrawn in specie must be estimated. The lowest calculation of the Mexicans upon this subject is eighty millions of dollars, while many go as high as one hundred and forty millions. The last is utterly impossible, for the Minimum of eighty millions would leave the country without any circulating medium at all. I have supposed seventy-two millions to have been the ac- cumulation of the precious metals in Mexico in 1810 ; which, with the whole produce of the mines up to 1825, gives a total capital of two hundred and thirty-seven millions of dol- lars. If we add to the exports, as given in the preceding pages, (167,404,273 dollars,) eighty millions of dollars more, we should reduce the currency of New Spain in 1827 to ten mil- lions of dollars less than nothing. I should be inclined, there- fore, to take one third of the registered exports, (109,204,554 dollars,) as a reasonable estimate of those of which no entry was made. Dollars. This would give .... 36,401,518 which, added to the total exports, (according to my estimate of their amount,). . 167,404,273 gives a total of 203,805,791 and this, again, leaves about thirty-three millions of dollars as the circulating medium of Mexico at the present day, after