Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-09-01
q ths NaiIouaI sanks q =
Have Wa foo Much curreuov2

In 1884, the population Of the United
States was 14,4l3. 204, and the amOun of
bank circulation and deposits $40, 500. 556,
and his gave, as the money to each per-
son. 81 SO; in 1887, population was To-
So, 597, bank circulation and deposits
1876 $50, O75, money to each person Sl7 66.
This expansion of currency was followed
by a crash. In 1857, the population was
2 ,6S2, $685., mi circulation and deposits
1856, l30,174, money to each person SIS 50.
This year was marked by a financial
panic. The average amount of money to
each person, from 1894 to 1889, in the
United States, was SII o. The popula-
ton in 1870 is 40, 000, 009, and the amount
of circulation of bank notes and deposits
is 1856, lac, 429; the amount of money to
each person is a fraction over 81 40. In
1850, the population of the States and
Territories was %, l9l ,S76, and the average
amour of money per capita was $40 80;
in 1859, the population was 30,370,4 45, and
the average amount Of money TO each
person was Si4 Clan increase of 81 81 of
money per capita in nine years. AS the
increase of population and business has
increased in eleven years more rapidly
han from 1850 to 1860, have we too
States9 No. And here is the result as
| much per capita now in the United States?
| We may have, but it is not in circulation.
1t is slowed away-hoarded, producing
and infiictiug embarrassmeuts upon all
our trading and manufacturing interests.
Doubleday, the author of an excellent
" Financial History of England thus
paints the result of a possible redundancy
of money in private n scarcity
of it il circulation. He SAYS:
Hence it may happen, and sometimes
does happen, That there may be a super
abundance of capital or 'hoarded
money in a country, whilst the 'circu
Eating money is too little for the wants
| of the community of that country. This
must always be the case, more or less,
where any canse or causes shall
be present to scare or deter
men from investing their money
in trades and other adventu-
rous channels; or, for instance, when a
country is so over-taxed that the resi-
due of currency left after paying such
taxes has become insufficient to enable
the people in general to pay such
prices for necessaries and articles
Of consumption as will afford q profit TO
those who deal in them. When this is the
| case capitalists become more and more
i~ndisposed to invest their money in COM
MERGE or agriculture, and more ana more
~resolute in boarding it and then we come
to behold this, az first sight, contradie-
tory spectacle, of a nation getting poorer
and poorer, and more and more
Strengthened at the very time that the
surplus capital in the hands OF hoarders
and usurers is daily upon the increase.
This is the case with England at present
! IS47,) and this is seen to be the case with
any country, where the interest of Its
debt and its current revenueiabsOrbs sc
large a portion of the peoples labor, thai
the remainder will not enable them tC
command a sufficiency of money to en-
power them to pay proper and remun-
erative prices for the things which they
themsel yes consume,
Prices Of Gold for the Past Eight Years
The following is a monthly table of the
highest and lowest quotations of gold
above the par of 100, for this and the pre-
vious eight years, commencing with Jan.
uary, 1862, the date of the suspension o
specie payments:
Highest Prices Of Gold.