Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1874-02-12
FEW FINANCIAL FACTS,

a FEW FINANCIAL FACTS.
Beginning with the year 1868 up to
and inclusive of 1o72, the exports Of
coin and bullion out Of the United
States, was 1856, 755, s73, while at the
same time the imports into the coun-
try OF the precious metals were $780,
7O9, 492; this leaves the export Of gold
and silver in excess of the imports
$526, 042,s2l. Here then Is one
fact that bears heavily upon the pro-
position Of resumption, viz: q drain
Of over 1900 00O,O 900 of specie from the
country in ten years. !
1t is said that the issuance of more
greenbacks will send gold up. The
fact is, that for over four months past
the Secretary Of the Treasury has
been issuing the $A,O O0, 900 reserve,
until more than half of it is now in
circulation, and gold, instead OF going
up, has actually fallen, and the much
despised greenback has brought about
as great premium ~ gold itself. To-
day, with nearly 1901 1000 moro Of
greenbacks In circulation, than five
months ago, gold Is lower than It Was
then. It has not therefore proven,
that q reasonable increase in the amt
Of currency would send gold up.
In July, 1866, the total circulation OF,
all kinds In the U. s., was 1880, $40.
95S. In 1873 this had been reduced
over . billion Of dollars. On the otk.1
or hand, the federal census of 1870
shows that for the ten years preceding,
the value of real estate in the United.
States had increased from$ 16, 600, OO0,-
coo to $4,000, 100000 in round NUM-.
bcrs, and the value of yearly manu-.
featured products had increased
from little less than 5000 COX, 600 to
over a, 600. 600, 900. II il thus seen that
with the immense decrease in circula-
ton, the commerce ofthe country had
nearly or quite doubled.
Again legal tenders have come To-
be denounced ~ s.lies upon their face"
by men who would once have blushed
10 30 characterize them. Let 40 give
an example of Whist has been hereto.
fore. England has generally been,
conceded, the world over, y near :
success, financially, - can be found.l
England, in 1898, entered upon IN eral
of deprecated, paper currsn.'
cy. and continued it for twsaty-tM0
years, which carried Il through the
great ware Of Napoleon. Our dspre-
ciatod currency has now been In ex.
is:cnce about twelve ysars, Alter ) de-
vastating internal war, beside which,
In comparison. the part that England
took in the wars OF Napoleon and 9th.
ere, is trifling in character. History
shows that when, bylaw, England nm
dertook ut the expiration Of the TWEEN.
ty-two years, TO resume, the suffering,
loss Of property and fortunes was I'M
mense.
Again, France has now An frredeem-
able paper circulation Of $500, CO., 00I
and 500, 100000 Of specie in circula-
tion, besides $45, 10000 on deposit in
the banks. Yet this currency Is only
liz per cent. discount and tho gov
eminent has mot resumed with $780,.
100000 more specie In circulation, (not
to count that in banks or other places)
than il has currency. This gives : cir
culating medium in France Of paper
and specie together Of 81, 800 OOO, 600.
France has about three millions less
population than this country, and our
circulating medium il about e766, 900.
600.
Instance now Great Britain. Tho
total circulation in specie there, y
about 1900 600 900, and the paper Of
the Bank of England alone, not In
Guiding any OF the other banks IN En-
gland, ireland or Scotland, l. $l22,-
100000. II may, therefore, be reason
ably supposed that her circulation IL
not less than $500, OO0, 600, with l pop
ulation 1900 900 less than that Of thu
United States.
The specie in this country r. estl.
mated at $50 900. But suppose
this estimate too small, and put thu
amount at $500, 600 900. II France
continues suspension with more spe.
Gle within her borders than paper
money, while the United States hal
TIRES or four times as much paper mon
ey a. specie, how 10 It that We are act-
Ing in bad faith, in the light Of such I
precedent The above data, we havs
gathered, in the main, from the abll
speech of the Hon. John A. Logan
delivered last month In the q. 8. Sen
ate. They contain much food fol
thought 81
John Quincy Adams, Jr., Is the soi
Of Charles Francis Adams, who 10 tn,
SON of John Quincy Adams, who VA
the son of John Adams. He 10 q
emasculated squirt whose only claim
to notice SCENE to be that he i the tai
end of noble ancestry. He made /
two hours speech the other day in tn
Massachusetts Legislature against ID,
proposed Centennial celebration .
Philadelphia, principally, we presume
becsuse It Was mot 70 be held in Dos
ton instead Of tho Quaker City. HI
SCENE to have forgotten that It is :,
the recommendations OF his flustriou
grandfather that We are principal,
indebted for the custom Of burnin{
gunpowder and tesring our shlrts d
the Fourth Of July. He intimate
that We had better devote the on
hundredth anniversary OF The Declsr
ation Of Independence 70 the oonsider
ation of our political sins, and to u