The weekly hawk-eye. [volume] (Burlington, Iowa) 1858-1860, 1859-08-20

llSla Jli'i 4. -
: 49, ~ 3 I, -. :: :: go. I, =
eatirsly n the Dlak g nsane. y Aass
- AD3 - - ~ - eesI1e-
- $500 q Koasy = eise1lltc1s =
kSuneA Dlt reeont tet1rn - sen.s
ofc1useD - lSa4oo. lsovA ~ monsy =
oee0ogo aeundtin tlnnee than q Great
Biknin, pRchAbly ~ y nleA 20; nnoe on
Ne Whats = . enlnlsssial sssatEy, hor CIV
ea, - Aneh epooulation, and not q active
ts2S11 . he United Slates or Great Britrin.
Ys,ehqeM plsos ths money Of circulation
tAl6, q a'lea propoftion.
In Germany, eompriaing 81, 0O0, 900 ofpeo-
ple, tlpre p g prsesnk 120O, OK, 600 in bank
ndest - the desperation OF coin Il greater
than in the United States. bat even then
ths coin can nosexeeed e4O0, 00O, 900, % that
voOO, OOO, 600 Woold Be the extent of its cir
culataon, or II to1.
Assuming. then, these general data in this
eo1ntRy - GFpaI Britain very nearly accu
ratA Ne hav0 this general table:
u.... s.. i s:s t ssc :s,o f''pi s :s
ss..s.s ssssssss ;ss'sss.Sss isssi
AeEysgass 14Aeoe.ooe o1eDysoo,Ooe II to 1
We find III oar estimate 10 generally cor
rect )that the most civilixed and commercial
nations do not vary.a great deal in proper.
tion OF current money which they employ /;
and - this 10 . period Of connercial activity,
without any great disturbing cause, with .
continually increasing population and gener.
q repspofity we may a6s1nereasonAblN that
th6 eenefAl average i neasly the fan amoupt
which 10 needed By society, for ito ordiny
purpose. Taking The above facts - basis,
We derive the following general inferenses,
which iftrue, are Of commercial value:
| ]. Society will not ret0in and hold much
larger amountof cxyreat ssosey than it needs
This is proved flor sxample) by the returns
Of the Bank Of England, which show that it,
notes steadily Increased for near . century,
when having rapidly advanced, in 1913, e
/ Csc, 900 900, (much more than was needed,
the people returned them, and the bank was
never able to keep out the amount again
The same was proved in the United States, in
1857, and in 1857. tanE a
2. II il proved BY the operations Of the
large banks and the coinage, that, in tho pres
enssoAte Of civilization and commerce, q pro
portion ofnoney 10 required FOR the people
item l2ato Of the population 10 TO may
/ be taken ks the minimum and 10 to as q
maximum of Che proportion of money which
4Qeiety bow demands and will absorb.
81 Of the whole proportion of money il
sircglaon, ct least ONE half and probably
mote. 1usss be in coin. The coin Of Grea,
Britain md the United States, speculative and
commercial nations, 10 now more than equa
10 the paper. 8. ak nakasa
4. Il follows from this also, q refer to the
rate Of interest) interest is, in great meas
ure, . tsst ofthe quantity Of money in circu-
iation. According to al the facts we have
dated, money is now abundant, and the rate
= interest ought to be loso, and accordingly
we find it actually l.. We hear of 80 pei
cent at st. Paul, and 10 per cent in Cincin-
matt, &C., but this is not the true test ofinter-
est This is determined BY the rates at which
large amounts are moved. This being the
standard, We have the following rates Of in
terest established in Europe and America:
n