Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1847-02-10


of tho precious metals derive ed from Amer.
have been as follows:
From 1892 to 1900, pr. annum, $3.50 900
l5CO to 1895 100000
1915 to 1000 i" 1900 900
1850 to 100 l6,0CO,OOn
100 TO 1850 22.50OOOo
1850 to 1903 I" $4,000 600
The following is M. Humbol,'s estimate
Of the annual produce Of the mines Of the
New World, at the beginning Of the pres.
en-, century,
vice-royal,y Of New Spain, s2a,ooo.oOo
Vice-royaIty Of Peru, 6.2IO,O00
Captain-generalship Of Chill, 2,C6O,OOO
Vice.royalty of Buenos Ayres, 1856. 900
Vice-royal,y ofNew Grenada, 100000
Brazil, 100000
Total, S43, 100000
MIR. Jacobs estimates the produce Of the
mines OF Peru and Buenos Ayres, during
20 years, ending 1929, at ELS, 500, 900.
McCulloch gives the amount of the pre-
cious metals Of The American and Russian
mines, as follows: Sold and Silver
len years, ending l739, t62,o oOO
s. 1909, 50,5l7, OJO
1919, 33.99S, 900
1889, 314j4,00O
Now afer looking at all these estimates,
taken from the most authentic sources,
does no; every one see tina, there is plen:y
of gold and silver, and more than plenty
for currency. Ii we only want abou, 100
millions for currency, surely or thous-
and Millions can furnish this amount
abundantiy #tr
If the paper money should be Withdrawn
Inc vacuum would be filled with gold and
silver and any one can see that there is a
plenty to fill it. The only difference is,
that now, persons who have $1,000 in
money may lend s 30, 600 in p4per-where-
as # there WIS no paper money, persons
would borrow gold and silver. The abo
iilion of paper moloy would not lessen The
anoant Of money in circulation, us there is
more gold and silver than is ut eded for Gil
culaiion--bu. the use Of paper money
keeps gold ad silver out Of circulation, and
it is made up into o:naments. The priv
lcge Of making paper money benefits no
body but those who have .hs priI.lege
of makiugi'. Those who want to borrow
money would have to pay more for gold and
silver, than for pirer money; So paper
money does not increase the quantity in
circulation; il only locks up, AMI drives out
of circulation, gold and silver, and causes
The precious me ais 10 DO manufactured into
useless orn tmen!s.
Have not shown then,ihl, paper money
is not needed .oF c.rcrlalion!
All the conveniences of paper money
currency my be secu ed by b lis Of ex
change. They are the CHI ef medium Of
wholesale transactions, in the county of
Lancashire in England, which embraces
the large cities of Liverpool and Manches
Ter and otter large towns. The amount Of
Bills ofexchan.c n England 10 1924 was
six millions pounds s,eri ng. Bulls Of ex
change are more likely to be drawn where
there ale really funds to meet them and
they pass by endorsement and DO no Cir
cula,c as money.
Banks Increase The Rate of Interest,"
What are banks but associated cdpifdl?-
a:great combination? The Directors Of
bank lend their own private money al ex-
orbia, nj interest because The machine they
control, helps them 10 grind people into il!
Who hes not seen some wealthy Bank d
rector follow up the poor victim whose SO
days Of credit has run out, and offer him
the money al an exorbtant rate? The
very system Of short credit, adopted by
the banks exposes its victims Il cannot call
those who borrow o: banks any thing else,I
10 the gouglDgs of private money lenders!
Need spend time OH tbs? lappeal 10
every mans experIence-a man will pay
almos, any rate Of interest rather than have
his name dishonored at bank; and every
Bank in the land should have painted over
his door "a MACHINE TO PREPARE
VICTIMS FOR BEING GOUGEDv'-
They tempt in the victim BY their offers o!
money al per cent, for 90 days, and az
ter they have rendered him helpless hoy
turn him out 10 money gougers. The
Whole system is calculated 10 make the rich
rcher ard the poor poorer! In the strong
language ofDan;el Webster sit is a system
VIII CHI IS calculated 10 fertize the rich
mans field with the sweat Of the poor
mans browv'
And now dear reader, let me lift my
voice in tones Of warning. This is no par
~ question. The specializing class-those
who wish TO get their living without work.
in both parties. whether wings or demo
Gratis, will oppose the Bank article in the
Constitution. lftbis restriction is KEEP. oui
Of the Cons,ituti on, depend upon it, log
rolling in the Legislature will give US
fresh litter of Banks at every session.
Bank stock is SO easily distributed 10 mem
bers of the Legislature! Witness the ex-
.perience oeMichigan! And shall this
young-this beautiful and as YET honest
Territory be cursed in like mannerf If i'll
is not, il will be because the farmer-tlie
mechanic-and the honest yeomanry OF
our country, come TO the rescue, and re-
gardless Of party tea, secure the adoption
Of The Constitution.
Poor RICHARD. '