New-York tribune., 1869-01-05
Total for % sysar,.....-..............9sja 9sja 56ooo

Average. a57 Osy)
Yon will not fail TO remark the general uniformity Of
the total paper circulation during tins period
Estimating The population OF C Great R Britain for the
to 81, We mud the average paper circulation To have
deducted the Bank OF England notes that were with.
drawn from circulation by other banks and held legal
We have reliable statistics Of the circulating Of
Great Britain Mr. Opdyke here enters into calcula
On which results In the conclusion thet the probable
amount Of circulation In Great Britain at the present
tme, 95OoO or 81 S per capita Adding this to the
proper circulation shown In the table, have total
Of 81 40; but deducng 3400oo0o or q cents per capita,
for Bank Of England notes held in by other banks,
we have the total active circulation Of Great Britain
IHe also exhibits the gold movement Of the Bank Of
England during the period from 1895 to 1925 to show that
the failure Of the effort made to resume IN 1877 resulted
tie redundancy OF the paper money then IN crcua
fion and which contracted largely before actual re-
sumption IN 1-2l.I
word ms to the circulating medium Of France. That
nation less commercial than either the United states
OF Great Britain Hence she needs less currency Her
afford accurate estimate. mud. however, that the
average circulation OF the Bank OF Franco from lSS TO
1885, when IL issued notes OF less denomination than
100 francs, but b75OO00 Of francs, equal to sl5
9OcOOO SneS tGen Tue n dSeoead anu TSe
bank during the same time has accumulated large re-
OF bullion and has received authority To issue fifty
fape notes These causes combined have expanded the
banks circulation TO 12OWOW0 frrIes, equal TO s240
100000 But this, combined with the most liberal
estimate for her circulating eon does not bring her total
circulating medium up TO ie eNel Oi ours before suspe
sion that Of Great Britain though Ihaye doubt
thar the large in her circulating paper will give
activity natural laws that will sooner or later enforce
Trusting that have sufficiently demonstrated the
existence OF principle which enectualy cOife the vol
ume OF Comfortable currency within the limits OF about
$40 per capita, Will next proceed TO snow the present
volume OF ODr own currency. III CONSISTS; ..,....,
First Of green Fov
seeund Nstioua Bank 3Soy0
,Th,s fsetleps euTfeucg 33O0O0O
Total Observation-Disclosures, S515c50eoo
The OF coin has been ~ great arrested
by depreciation of Onr money bot not altogether IL sth
tie entire Circulating mciiuD 81 the Psciie
be les than ........ 100000
Its also BY the Goyennsht In psymeut of ttersst
merchants 10 payment Of duties and 10 Srteiaent
of ot6er extent that would
osis Of active crealalsg money at tleasi,..... 200Oo
To u papsr and CON- ............,..... 4744 900
not included In this estimate the three per cent
legal tender certificates compound interest notes and
coin held by national banks for the reason that they
not circulation They held IN reserve, under legal
requirements, and 20 give currency the circulating
issued by tho banks For the reason must,
An order 10 ascertain actual circulation OF paper and
CON- deduct from the total, ah given above the amount
OF greenbacs held by the national banks. The report Of
the Controller OF tho Currency shows TINT these have
averaged for The last calendar year COO Deductlg
this from the above total leaves rs the actual volume Of
oar present circulating medium, tGi4,000oOo.
This, estimating present population at S800009O,
gives circulation Of 81 per capita. or 70 per cent IN
cess OF what have shown to be- for us, tho Impa5sae
limits OF convertible currency.
REsDAfT1ON-HOW AND WHkN IL CAN DE BEST ACCOM-
PIlsIiED
Having looked a one financial situation in al s mate.
rial aspects, and having shown by reliable statistics how
far our paper issues exceed the impassabe limits Of
souId convertible currency we arc Dreped 10 consider