Russia, 1828

Russia's Platinum coinage was a very complex monetarist and commodity price debacle.  

Platina had been largely unknown and exceedingly rare in commerce for almost 100 years; its suddenly discovery in the Urals was imagined a reflationary opportunity to alleviate  Russian state finances and currency weakness.

Minting was a disastrous experiment from from the beginning. Coinage production costs were much higher than either Gold or Silver.  Also, vast amounts of the raw ore - and black-market refined metal - came to market erratically, suddenly and consistently depressing the Russian price, so the coined metal was immediately disfavored by local merchants seeking a stable value money.  For this 'mysterious course' in St. Petersburg, European traders could not correctly estimate intrinsic value against Gold, Silver, Copper or Paper Roubles: the arbitrage risks were profoundly negative.

At the source, Platinum profited only the producers and a small group black-market traders. It's no surprise the serf-owning Demidoff Family ultimately endowed the creation of an oligarchic cartel 50 years later, to both manipulate and control the price.

In 1828, the 3-Rouble was estimated at Fr. 11.90

Citation: Revue encyclopédique, Vol. 38 (1828?) p.414


Citation: Money and civilization: or, A history of the monetary laws and systems of ...  Alexander Del Mar p.309


1828: 1 Troy Ounce Platinum (coin rate) = 9.01 руб = 
33.5634 Ассигнационный рубль

= £ 1.414 (Ag)/ £ 1.4522 (Banco) ~ USD$ 6.87 - 7.05 (1829)
= Fr. 36.49 (Banco) = USD$ 7.21 (1828)

1828 Foreign Exchange.

"With the introduction of platinum coins in 1828, the assumed metallic value was 1.236 руб per Solotnik, or 4,746 Roubles per poud.  As a result, this nominal value differs so greatly from the commercial value of the metal;  under such circumstances, in 1843 the Treasury took the question to council whether to continue minting Platinum coinage. In 1844 the difference was already calculated at 137 % (2,004 Roubles per poud?) and in 1845, as  revealed that in the main markets (Paris, London, Hamburg) it was officially retracted that prices were fluctuating between of 2503-2808 Roubles per poud. So instead of 1.236 руб per  Solotnik, the cost was only 0.65- 0.74 руб and the government was induced, following on 9 February 1845 to meet the most supreme confirmed measures:"

Citation: Im Ural und Altai: Briefwechsel zwischen Alexander von Humboldt und Graf ...Alexander von Humboldt, Egor F. Kankrin (1869) p.140

The assumed weight is 10.378 Grams and although Specific Gravity is reduced by impurities, not ~6% as presumed here. The coin was probably ~97.5% Pure Pt = 10.10 g. Fine Pt.

Citation: Bulletin des sciences géographiques, etc: économie publique, voyages



Where 2 Zolotnik 41 Dolya of pure Platinum = 10.3533318 Grams, but verified 3-Rouble Weight as high as ~10.37 g., conservative estimate for lightly circulated coin is 10.35 g.


1828: 1 Troy Oz Platinum (Granville's est. coin rate) = £ 1.5801 (Ag)

Citation: St. Petersburgh, a journal of travels to and from that capital; Augustus Bozzi Granville (1829) p.140

 

Rounding error, c. 1862:



1 Troy Oz. Gold = Thlr. 29.23456318
1 Troy Oz. Silver = Thlr. 1.860593754
1 Troy Oz. Platinum ~ Thlr. {?}

a) of Gold, 318 Pouds (= 22,256 Cologne Mark; 167,473 Ozt) in Werth of 4,896,000 Rthl. Preuss.
b) to Silver, 1093 Pouds (= 76,498 Cologne Mark; 575,622.7 Ozt) in Werth of 1,071,000 Rthl. Preuss.
c) to Platina, 94 Pouds (= 6,570 Cologne Mark; 49,504.6 Ozt.) in value here is not determined *) 
as a whole so far about 6 Million Rthl. {Excluding Platinum!}

*11,520 Rubles Paper per Poud

The yield of the hereafter was especially from Ural mining 1814-1828: 1551 Pouds (= 108.563 Cologne Mark ) or struck to the value of 23,881,000 Rthl. Preuss.

According to the St. Petersburg trade newspaper from 1831, the Gold Yield from the Urals was now annually about 280 Pouds - 11,200 pounds (ie 20,000 Cologne Mark) and in 1830, the same shall in particular in gold value given for 17,760,000 Rubles Gold, and 1,209,600 R. Platina 

in  the last 10 years, but in general107,700,000 R. Gold, and3,806,52 R. Platina.  In 1831, however, the Urals produced 867 Pouds of Gold and 114 Pouds of Platina.

Citation: Historisch-statistisches Jahrbuch in Bezug auf Nationalindustrie (1831-2), Vol. 1,  Friedrich Benedict Weber (1834) pp.79-80



1828 Platina Yield (at Mint Price, Retail) 5.8623 руб Ag/Ozt
49,412 Ozt : 1,080,854  руб Acc. = 289,699. руб Ag 

.... @ £ 0.1583 руб Ag: £ 45,864 ; @ £ 0.0433 руб Acc. : £ 46,766

1828: 1 Troy Oz. platina  = £ 0.9282 - £ 0.9464




3 Platinum Roubles initially worth Fr. 11.90.



Citation: Narrative of a Visit to the Courts of Russia and Sweden: In the Year 1830 & 1831, Vol. 2;  Charles Colville Frankland (1832)



Correcting the error in forex (Paper, rather than Gold paid) because Producers were paid in Banco Roubles, this account suggests the lessees were paid 0.75 руб Acc. per Zolotnik.

1828: 1 Troy Oz. platina (Govt Rate) = 5.4675 руб Acc. (USD$ 1.1745)

Citation: The Jewelers' Circular, Vol. 77, No 17 11/27/1918


~1828-1843: 1 Troy Ounce platina (SPb: Ore 80%) = 9.028 руб Acc.

The first buyer was the government. From the years 1825-1843 the delivery of the whole platinum gained to the Crown was required. The price paid was initially (1822?) 60 Kopecks per Zolotnik, or {140.66 руб Acc.} per kilogram, with 10 to 12% deducted by the assayer {123.78 руб Acc., net}.  Three years (1825?) later, it rose to {230.31 руб Acc.} per kilogram and finally the coining period (1828-1843) to {290.25 руб Acc.}

Citation: Prometheus: Illustrierte Wochenschrift über die Fortschritte..., Vol. 18, No. 904, p.309 

Citation: Voyage dans l'Oural entrepris en 1828  ; Adolf Th. Kupffer (1833) 
 



1828: Assay of Nischne Tagilsk ore, 73.6% - 79% Pt


Berzelius' analysis of Goroblagodat ore, 86.5% Pt

Citation: The Encyclopaedia Britannica: Or, Dictionary of Arts..., Vol. 7; Vol. 15 (1842) p.254
 

Gold Yield:

UK, 1827

Where British traders in St. Petersburg paid Banco Rouble rates for platina, the highest rate was obviously from the Mint; black-market platina was sold cheaper. (Unknown.)

I Kilogram off-market Russian platina cost ~ £ 15.52, 1 kg Mint platina cost £ 30., 1 kg Mint Sponge cost £ 40., 1 kg Mint Platinum cost £ 50.

July, 1827:
7/27: 1 Troy Ounce platina (SPb: 71.37% pure) ~ £ 0.667
  
11/27: 1 Troy Ounce platina (SPb) = £ 0.9342
11/27: 1 Troy Oz. Pt (SPb: refining 'cost') ~ £ 0.3114 - 0.4827 
11/1827: 1 Troy Oz. Pt (SPb, sponge) = £ 1.2456
11/1827: 1 Troy Oz. Pt (SPb: semi-mfg) = £ 1.5570


Citation: Philosophical transactions of the Royal Society of London, Vol. 120  Royal Society (Great Britain)


In Fall 1827, European Platinum prices were reduced.

Count Cancrin's reference to ingot may not refer to pure refined metal, but the 1826/7 Paris price ratio for ore/ingot corresponds closely. From an unknown source comes a London price, equivalent to the Paris Price cited by him for in August, 1827.

c.Oct.1827: 1 Troy Oz. Platinum (imported ingot, London) = £ 1.00 (USD$ 4.94)

This contradicts, however insignificant profit, trade prices. After just received news from London, an ounce of platinum can be sold in bars Troy to twenty shillings, which account for about 24 rubles paper. Thereafter, the platinum would come to 3 Roubles and 29 Kopecks (Paper Roubles) per Solotnik. The Solotnik of silver is worth 23.703 cpm paper, the proportion of platinum to silver would be so in this case as 3,73:1. It follows that the ratio of 3 .25: 1 is too low. 

London-St. Petersbourg commercial intelligence was typically ~35 days. News of an extraordinary event traveled the distance in 20 days. Czar Alexander died 1 December 1825 in Taganrog on the Azov; the courier reached St. Petersbourg 9 December (reported 10 December) and the Czar's death was announced in London on 1 January 1826.

Citation: Im Ural und Altai: Briefwechsel zwischen Alexander von Humboldt und Graf .. A. von Humboldt, Egor F. Kankrin (1869) p.26

Quiring's error is likely Cochrane's COLOMBIAN and Russian source prices!

c.1827: 1 Troy Oz. platina (Lond.:Choco, 85%, whols.) = £ 0.3101 (USD$ 1.53)

c.1827: 1 Troy Oz. platina (Lond.: Ural, 75%, whols.) = £ 0.2281 (USD$ 1.13)

Citation: Die metallischen rohstoffe, ihre lagerungsverhältniss und ihre wirtschaftliche bedeutung..., Vol. 16 (1962)

Heinrich Quiring?

"In London kostete ein kg columbianisches Rohplatin 1826 bis 1827 200 Schilling. Es wurde höher bewertet als das .."Denn 1826/27 notierte in London russisches Rohplatin 146,65 s; columbianisches Rohplatin 199,4 s, Reinplatin 429,7 s je kg. Paris nahm eine Zwischenstellung ein (Rohplatin 200 Frcs, Reinplatin 690 Frcs je kg)..."

1827: 1 Troy Oz. platina (Lond.:Colombian import) = £ 0.31 (USD$ 1.53)

Platina imports (UK) for 1827: £ 5. for every £ 100. value, totalling £ 512. If Colombian government platina (886.68 Troy Ounces) exported in 1827 constituted all British imports, then:

1827: 1 Troy Oz. platina (Lond.:Colombian import) ~ £ 0.5744 (USD$ 2.84)

It seems far more likely that other Colombian export plus Russian platina arrived on the London market, however.

1827:

1827: 1 Troy Ounce Platinum (refined, semi-mfg) = Fr 27.96

(=£1.06; without duties, insurance, import, profit, etc.)

1827: 1 Troy Ounce Platinum (estimated coined) = USD$ 7.15

c.1829: 1 Troy Ounce Platinum (estimated to Silver) = USD$ 5.17 - 6.47

c.1829:

Citation: A manual of chemistry: containing the principal facts of the ..., Vol. 2. William Thomas Brande (1830) p.215

Citation: Knowledge for the people: or, the plain why and because. John Timbs (1832) p.198

1830: An annual English register of recent notable events reported Russian 'news' from 1827 ... three years later!

December 1828:
Citation: Philosophical magazine: a journal of theoretical, experimental ... Vol. 4, No. 24 Dec. 1828 p.457


Citation: Arcana of science and art: or, An annual register of useful inventions ; John Timbs (1830) p. 67

Citation: The Encyclopedia Americana: a library of universal knowledge (1919) p.230

Russia, 1901

1901: 1 Troy Ounce platina (St. Petersburg Spot) = 27.42 руб (USD$ 14.12)

 

Platinum miners salary, 1901:

Citation: Archives des sciences physiques et naturelles, Vol. 15, 1903 p.


Working the placers in 1901, Alexandre Grine "Sur Terre et Sur Mer" (p.132-3) reported the same daily wage (руб 1.20) also that miners were paid руб 3.50 per Zolotnik for platina and руб 5./Zolotnik for Gold ore.  Anecdotally, he had heard of contraband prices руб 6.-7./Zolotnik (for Gold? so, ~руб 4.25 - 4.75 руб/Zolotnik for platina)  

1901: 1 Troy Oz. platina (Uralian Spot) = 25.52 руб (USD$ 13.14)
1901: 1 Troy Oz. Gold ore (Uralian Spot) = 36.46 руб (USD$ 18.78)

1901: 1 Troy Oz. platina (Contraband) ~ 30.50 - 35.75 руб (USD$ 15.77 - 18.40)
1901: 1 Troy Oz. Gold ore (Contraband) = 43.75 -51. руб (USD$ 22.53 - 26.29)


c.1901: 1 Troy Ounce platina (Ural Spot) = Fr 37.33 - 46.66 (USD$ 7.25 - 9.06) 
  Citation: Le Naturaliste: revue illustrée des sciences naturelles ; Émile Deyrolle, Paul Groult (1902) p.42

Russia, 1889: Cornered Market in St. Petersbourg

Citation:  La Russie industrielle: étude sur lÉxposition de Nijni-Novgorod; Maurice Verstraete (1897) p.81

France, 1807

By von Humboldt's mis-estimation, the Paris Price (trade?) was only ~3.5x higher than the Chocó Spott-Preis.  In all probability, the Chocó Spot was likely much lower (~S$ 3./libra) so the Paris multiple was closer to 8.7x higher, though major French consumers (bulk discount) certainly paid far less than his cited trade-price in Paris.

We can probably date von Humboldt's ms. to 1808-09, several years after his return to France (1804.)  The livre refers the Spanish libra, 460 g., whereas the livre poids de marc or livre de Paris was heavier, 489.5 grams (15.74 ozt.)  He did not mean a 'kilogram' (carefully specified elsewhere in this early volume) for that would halve the Paris Price, inconsistently.

Where the Poid de Marc (16 once) was 15.7378 English Troy Ounces; 
1 P.d.M. @ Fr 8./once = Fr 130., @ Fr 9./once = Fr. 150.

Reduced to 1 Spanish Libra, @ Fr 8./once = Fr 122.21, @ Fr 9./once = Fr. 141.
Reduced to 1 Pound Avoirdupois, @ Fr 8./once = Fr 120.5, @ Fr 9./once = Fr. 139.
Increased to 1 Kilogram @ Fr 8./once = Fr 265.6, @ Fr 9./once = Fr 306.5

In S$ @ Fr 8./Once, 1 Libra = S$ 24.5, 1 Pound = S$ 24.1, 1 kg = S$ 53.1
In S$ @ Fr 9./Once, 1 Libra = S$ 28.2, 1 Pound = S$ 27.8, 1 kg = S$ 61.3
 

c.1805?: 1 Troy Ounce platina (Paris mkt, retail) = Fr 9.38  
c. 1809?: 1 Troy Oz. platina (Paris mkt, retail) = Fr 8.13

Citation: Bibliothèque britannique, ou, Recueil extrait des ouvrages ..., Vol. 46 (1811)

Citation: Political essay on the kingdom of New-Spain, Vol. 3  ; Alexander von Humboldt, John Black

European Low Price for platina, might suggest a Colombian platina Low (c.1806)?

In 1807, 46 kgs (1,479 Ozt) of platina were imported to France from the Netherlands.

Citation: Dictionnaire des productions de la nature et de l'art qui font l'objet du ...Magnien p.379

Russia, 1820s - 1830s: Commodity Prices

1822;

1826:



1831:

1835:

Colombia, 1824

The ms. of José Manuel Restrepo was completed 3 June 1825; the first ~50 pages presumably date to late 1823.  The official estimated annual gold yield in Chocó was very low, only 299 kilograms; where platina was assumed 4:10, the platina yield (1820-1824) is roughly estimated 119.6 kilgrams.  It is doubtful there were 22,000 washers

Late 1823: 1 Troy Ounce platina (@ Choco) = S$0.5408
Late 1823: 1 Troy Oz. Gold (@ Choco) = S$ 13.52 - 15.21
 

[n. e.: en la edición de 1827 se hacía la siguiente anotación en pie de página:
* La parte mas abundante de platina en la provincia del Chocó es el canton de Novita, y las aguas que fluyen al rio San Juan. De las ocho partes de platina las siete son de Novita, y una de las minas de Quibdó ó Citará. No hay un dato positivo de la platina que se saca de las minas del Chocó; mas, conforme á un estado aproximado que formó el actual gobernador de aquella provincia coronel Pedro Murgucitio á solicitud mil son cuatrocientas libras poco mas ó menos las que dan sus minas cada año. Segun el mismo estado el oro que se estrae en un año por un medio tomado de un cuatrienio asciende á seiscientas cincuenta libras. He aquí lo que produce una poblacion de veinte y dos mil almas ocupada esclusivamente en lavar oro. La platina jamas se saca sola y siempre se halla mezclada con el oro. Es cierto que ninguno trabajaría una mina de platina cuando no son abundantes de este metal, y cuando su mayor valor apenas es de ocho pesos la libra, siendo asi que la de oro vale de doscientos á doscientos veinte y cinco pesos.

* In the province of Chocó, the most abundant portion of platina is from the city of Novita and the flowing waters of the San Juan River. Seven-eighths come from Novita, and one-eighth from the mines in Citará Pretoria. While there is no positive data on platina drawn from the mines of Chocó, according to a statement requested from the current governor of that province, Colonel Pedro Murgucitio, approximately four hundred libras (more or less) per thousand {libras Gold} are taken from the mines every year.  According to the same source, the annual Gold yield (from a four year period) amounted to six hundred and fifty libras (299 kgs).  This is what a total of 22,000 gold washers can produce.  Platina is never found by itself, it's always mixed with gold.  It is true that no one will work a platina mine when there is an abundance of this metal, as its greatest value is only eight dollars a pound, with gold well worth the two hundred to two hundred twenty-five dollars per libra.

Citation: Compendio de la historia de Colombia, José Manuel Restrepo (1827) p.44



The official report of May 1823 indicated no progress on the purification of platina by Colombian authorities.



European merchants made fortunes "trading platina" or rather smuggling it. Rising platina prices in Colombia and Jamaica anticipate by 3-4 months rising Continental Platinum Prices reported in von Humbolt's Paris price-record (1822-26.) Logically, London platina prices may have risen somewhat earlier than Paris, as British merchants carried most of the platina to European markets and had better information-networks for their shipping.  Mentioning the imposition of a platina export ban, Cochrane cited the early 1824 price at S$ 8-10 Dollars/piastres per libra.

From Hurtado as the source, Cochrane estimates 914.25 - 1,015.75 kgs Au, plus 508 kgs Pt. (Local estimate, c.1823)

 
c. Late 1823: 1 Troy Ounce. platina (@ Choco) = S$0.5408

c. February 1824: 1 Troy Oz. platina (@ Choco) = S$0.6792 

Citation: Journal of a residence and travels in Colombia during the years ..., Vol. 1, Charles Stuart Cochrane (1825) p.421 


Early 1823: Mollien noted the enormous stockpile of platina in Bogota, in 1823 platina was officially estimated at half the value of Gold. Prior to the Decree prohibiting platina export August 1823 (as reported by Mollien in October 1823 in the 1824 Edition.)

November, 1823 @ Choco: 3 - 4 Spanish Piastres (Official Rate?)

November, 1823 @ Cartagena: ~6-8 Spanish Piastres

Official rate: 1 Troy Ounce platina (@ Choco) = $0.20 - 0.27 per troy ounce
1822: 1 Troy Ounce auro-platina (@ Choco) = S$10.24 per troy ounce

c.1825: 1 Troy Oz. Gold (high-grade ore @ Choco) = S$ 13.52 per troy ounce
c.1825: 1 Troy Oz. Gold (Contraband @ Jamaica) = S$ 16.90 per troy ounce

1825 Edition, by then a dated price (1822/3):

A Castillan in Gold was 0.15 Troy Ounce, or S$ 1.50, or the local equivalent (in 1822) S$10.34 per English Troy ounce. In Spanish Dollars, Gold was 25% more valuable in Jamaica (S$ 12.75) an a commodity for European export & commercial trade.

January 1824: As reported early January 1824 by Cochrane, 8 - 10 Spanish Piastres ($) at the source; Gold was 25% higher in Jamaica.

c. January 1824: 1 Troy Oz. platina (@ Choco) = S$0.54

c. January 1824: 1 Troy Oz. platina (@ Cartagena) ~ S$0.72

c. September 1823: 1 Troy Oz. platina (@ Choco) = S$0.68

c. December 1823: 1 Troy Oz. platina (@ Choco) = S$0.54

c. September 1823: 1 Troy Oz. platina (@ Cartagena) = S$0.85

c. December 1823: 1 Troy Oz. platina (@ Cartagena) = S$0.68 

 

At 46 kgs per Spanish quintal, Coffee sold at Caracas @ S$ 0.2174 - 0.228 per kg.
At 45.36 kgs per hundredweight, Coffee sold at London @ £ 0.13.23 (S$ 0.5879 per kg.), ~ 150% markup.

 

Die Regierung will jetzt aus Platin Geld münzen Da aber die Britten für das Pf 10 Piaster zahlen so geht sie im Schleichhandel nach Jamaica.

European merchants made fortunes "trading platina," or rather smuggling it.  Rising platina prices in Cartagena or Jamaica have anticipated by 3-4 months the rising Continental Platinum Price, such as von Humbolt's Paris price-record (1822 - 1826.)

Logically, London platina prices may have risen somewhat earlier than Paris, as British merchants carried most of the platina to European markets and had better information-networks for their shipping.  Mentioning the imposition of a platina export ban, Cochrane cited the early 1824 price at 8-10 Dollars/piastres per libra, the Choco precious metal yield (2:1 Gold/Platina) and the annual platina yield 460.1 kgs.

Citation: Journal of a residence and travels in Colombia during the years ..., Volume 1, Charles Stuart Cochrane (1825)

Citation: Journal of a residence and travels in Colombia during the years ..., Vol. 1, Charles Stuart Cochrane (1825)

Early 1823: Mollien noted the enormous stockpile of platina in Bogota, in 1823 platina was officially estimated at half the value of Gold.  Prior to the Decree prohibiting platina export August 1823 (as reported by Mollien in October 1823 in the 1824 Edition.)

November, 1823 @ Choco: 3 - 4 Spanish Piastres (Official Rate?)

November, 1823 @ Cartagena: ~6-8 Spanish Piastres 

Official rate: 1 Troy Ounce platina (@ Choco) = $0.20 - 0.27 per troy ounce

1822: 1 Troy Ounce auro-platina (Colombia: mkt) = S$10.24 per troy ounce

c.1825: 1 Troy Ounce Gold (Mint: Gold Dust) = S$ 13.50

c.1825: 1 Troy Ounce Gold (Jamaica: Gold Dust mkt price) = S$ 16.90

 

1825 Edition, by then a dated price:

A Castillan in Gold was 0.15 Troy Ounce, or S$ 1.50, or the local equivalent (in 1822) S$ 10.34 per English Troy ounce.  In Spanish Dollars, Gold was 25% more valuable in Jamaica (S$ 12.75) an a commodity for European export & commercial trade.

c. March, 1823: Notes on Colombia, taken in the years 1822-3: Appendix C, p. 302
"Gold Dust from Choco, 1st Quality $200 per lb.; Platinum, (crude), from $4 to 6 per lb."

January - March, 1823: 1 Troy Oz. platina (@ Choco) = $0.34 - 0.61 

January 1824: As reported early January 1824 by Cochrane, 8 - 10 Spanish Piastres ($) at the source; Gold was 25% higher in Jamaica. 

c. January 1824:  1 Troy Oz. platina (@ Choco) = S$0.54

c. January 1824:  1 Troy Oz. platina (@ Cartagena) ~ S$0.72

 

c. September 1823:  1 Troy Oz. platina (@ Choco) = S$0.68 

c. December 1823:  1 Troy Oz. platina (@ Choco) = S$0.54

c. September 1823:  1 Troy Oz. platina (@ Cartagena) = S$0.85 

c. December 1823:  1 Troy Oz. platina (@ Cartagena) = S$0.68

Where the Spanish libra was 460 grams or 14.792 English Troy Ounces, Gold sold at Cartagena for

1823/4:  1 Troy Oz. Gold (dust@ Cartagena) = S$ 13.521
1823/4:  1 Troy Oz. Gold (dust@ Jamaica) = S$ 16.90 

The highest Pt/Au ratio, 3:1 was confirmed by USGS in 1969 (Geological Survey professional paper, Volumes 630-631) for two areas only, the Condo and Iró River districts.  Prices paid (in currency, or traded goods' value) for native platina at these locales would represent the true 'Colombia Source Spot-Price' in all periods prior to the Russian discovery.

Higher prices encouraged a 'search for platina' in the 1820s.

c. 1822 - 1828:
Citation: An Encyclopaedia of Geography ; Hugh Murray(1834)


The Colombian government paid for Gold in depreciated paper, so even the official price is misleading.  Also unknown is the merchants' price for Gold dust.  It was widely believed that 3/5ths of the precious metals were traded with British merchants for British manufactures during this period (1818-1825), at unknown rates (Colombian Gold dust for British manufactures.)

"Gold, Silver and platina will pile up almost exclusively in the ports of Great Britain."

Citation: Bulletin universel des sciences et de l'industrie. 6 ..., Vol. 3  ; Société pour la propagation des connaissances scientifiques et industrielles Paris (1825)

 

c. December 1824:

Citation: Travels through the interior provinces of Colombia;  John Potter Hamilton (1827)


1824: Prices
1 Fish (Salmonetta) 60 lbs = $1.
1 arroba tobacco (best quality) = S$ 5.
260 lbs dye-wood = S$ 8.
1 horse (fine quality) = S$ 200.
























Bouga: Population =




Alluvial mining operation: 12 slave women, 4 days of work

News from Bogotá, via New York, reached Milano ITALY 17 weeks (+4 months) later.