Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1858-02-19
From the Boston Post
6 Wear and Waste of GOId.,,

In article in the Post of Saturday last it is said
that the entire amount of gold in circulation in the
world is estimated at about $24OOOOOOO of which the
wear and waste is stated to be 81 per cent. annually.
There seems to be some mistake in these figures.
The amount of gold in circulation in England alone
is more than $l50000,000, and the whole amount in
America and Europe, according to most reliable est-
mates is some s., 400,0O000O besides all that is in
circulation an the rest Of the world.
In regard to the wear of god or the loss by ABRASION
from use coin, Mr.. Page an officer of the Bank Of
England and writer of distinction, ascerained from
the official reports of the minis of Great Britain and
the United States that the loss was actually but 46l
per cent in century That is, of every 500 coined
at given time $3.50 would be in existence at the end
of 100 years making the loss less than twentieth Of
per cent. per annum.
Mr. McCullock who is great authority on such sub
ects, estimated the entire annual loss of gold currency
by abrasion, &c. at half of per cent and that est
mate undoubtedly liberal One covering the entire loss
The truth of the matter undoubtedly u.s. that the loss
by wear and waste OF paper currency is greater than
that of gold currency cheap the cost of making the
former is One hundred dollars of paper money could
not be kept in circulation for a century for 81 6l
There are two popular mistakes that need to be
rected-one is, that paper currency is cheaper than
gold one and the other that there is not enough gold
In existence to serve as currency for the world In
regard to the last it is satisfactorily ascertaned that
there IS always more than twice much as could be
advantageousy used for currency there was not dol
lar OF paper money in circulation. A. W.
ATCHAFALAYA CURRENCY-Capt Shalcross, of the
Mississippi steamer Peytona is one of the crack cap
tains on the river. Everybody knows him, and he
knows everybody and therefore we must tell little
story about him. One day the Peytona was steaming
down past the cotton woods toward New Orleans when
she was hailed by another boat, going up:
"HallO! Captain Shall p
"Halloo p was the answer
Got any Atchafalaya money!
"Yes, plenty
"Wel, pay it out the Bank busted, or gwine to-
GAY, ay," said Capt. Shalcross " Clerk, have YOU
got much of that money!
about thousand dollars, reckon, Sir" said the
clerk of the Peytona
"Wel, stop at the first wood boat" And the Pew
tona pulled on until wood boat was seen moored to
the shore, with piles of cordwood around and small
man, with his trowsers rolled up and his hands in his
pockets shverng the bank beside of his boat in the
chill December weather. Wood boat ahoy sang out
Captain Shall
Small man in the distance Halloor'
Want to sell that wood?"
Small man in the distance Vas"
Take Atchafalaya money!
Small man in the distance Vas"
Round to, pilot said Capt Shall The boats
bound down stream always have to come around with
their bow pointed up stream to resist the current of the
Mississippi; sometimes they encounter big eddy and
have to take sweep Of some miles before they reach
the landing place. So it was in this instance $50
you'll take Atchafalva money for wood will yo?" said
the captain as the boat approached the shore
Vas" said the small man.
How will you take it ?" said Capt. Shall (meaning
at what rate)
Take it even," said the small man.
"What do you mean by even?'
Corp FOR CORD, CAPTAIN"
"Put her round again, pilot" said Capt Shall and
wood up at the next wharf boat reckon this fellow
has been posted by somebody Atchafalaya" Go
Gems Vine Press.
The Auburn Advertiser says drunken fight occur
red at cicero Corners on Friday evening, in which Hi
Rogers had his nose entirely bitten Off his right ear
badly cut and one of his eyes gouged His adversary
was also terribly bruised in the fight The row was oc
casloned by dispute which had treated last.