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The New Hampshire Gazette And General Advertiser
Portsmouth, Rockingham County, New Hampshire
What is this article about?
A report from London calculates that Great Britain's 240 million pound national debt, if paid in heavy guineas valued at four pounds per ounce, would weigh five million pounds troy and require 5,000 carts to transport, covering 37 miles of road. It queries if the world's circulating gold or gold and silver could cover the debt.
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NATIONAL DEBT.
Two hundred and forty millions, which is the amount of the national debt of Great-Britain, if paid in heavy guineas, valuing them at four pounds sterling per ounce, would weigh five millions of pounds, troy weight.
Suppose this enormous quantity of gold to be put into carts, each cart to have one thousand pound weight; allow each cart two horses, and for each cart allow forty feet—the whole quantity would load five thousand carts, which would cover a road thirty-seven miles in length, with a remainder of one hundred and sixteen carts in the thirty-eighth mile.
Query—Is there in the whole world as much gold in circulation as would pay off this enormous debt?—If this be not sufficient—Is there as much gold and silver in circulation in the world, as would be sufficient for such a purpose?
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Where did it happen?
Foreign News Details
Primary Location
Great Britain
Event Date
March 23
Event Details
The national debt of Great-Britain amounts to two hundred and forty millions. If paid in heavy guineas valued at four pounds sterling per ounce, it would weigh five millions of pounds troy weight. This quantity would load five thousand carts, each carrying one thousand pounds with two horses, covering a road thirty-seven miles long plus 116 carts in the thirty-eighth mile. Query: Is there enough gold in world circulation to pay this debt? Or enough gold and silver?