The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1875-09-04

"The New York banks hold $17 ,00G, GOO less
specie than at this time 1878" AT this rate
OF decrease, how many centuries VIII 1t take
to resume specie payment? And il, accord
ing to the SheraaSn bill programme, we at.
tempt to resume In 1879, where will it be pos
sIble to get the gold? and, If possible, will WEI
ever be able to liquidate our national debt p
VIII the concentrated wisdom of the old par
ties please answer ?-NOrrts Rtornler.
Johnny Stubs held two bushels less pea
nuts on the 9Th of July than he held at his
peanut stand on the Sd of July 1t is barely
possible that the rag money philosophers may
have acuteness enough TO see that the dimia-
ished supply Of peanuts Johnny Stubs held
on the 9th of July was in consequence of a.
neavy extra demand on the 4th, as there had
been q celebration IN his town on that day.,
which brought in an unusual swarm of hun
cry peanut eaters from the country; but is it
not passing strange that the same philoso.
pliers are utterly incapable, by the same sim
ule process Of reasoning, to account for the,
diminished supply Of coin in the New York
banks The importatons from Europe, on
which the duties must be paid In gold have
largely fallen off since l574, consequently the
amount of gold needed by the New York i'm,
porters to pay these duties, and which they
had to buy Of the banks, is much less than III
was year ago, and consequently again, the
banks need not keep so much gold on hand
to meet the wants of the importers, THIS is as
| A 4, 6 No,, Nprly
banks need S1O0,000000 of gold to supply the
importers, is any man fool enough not to-
know that they can get it? And il they need
S15O,O00,000 to take care of their circulation
more than double what they ever Will need
can't they get it with the same facility? Any.
thing in existence in Ottawa to-day that can
be sold for six dollars in greenbacks can be
sold with the same facility in Ottawa for at
least five dollars in gold. All in the world
there is needed to make gold plenty is to ere
ate a demand for it. And when that demand
is supplied, gold will not only be plenty, but
cheap. In 1910 there were not $500 of gold
and silver in all La Sale county. Our only
money was individual scrip and depreciat.
i, ed Illinois State Bank bills. In 1912 the far
= mcrs told the Chicago grain dealers they
must have gold and silver for their wheat
and 1t came forthwith, SO that for years there.
y after gold and silver were as plenty here and
;. as cheap as the filthy scrip" that had driven
( them out
C Look here. We see by 4 metropolitan jour
8 nal before US, that according TO statemen
D just made by Wells, Fargo & Co., through
4 whose hands nearly all the gold annual,
n produced in California, Nevada, &c, passe
@ to the East and to Europe, the precious met
;, ais produced in the states and territories YVES
q of the Mississippi nver during 1874 amount
ed to S74, 401 .05j. The total includes STsS
4 ISIS produced in Mexico, and $l,636,557 pro
y lduced in British Columbia. Accepting thes
>. Figures as correct, AS they doubtless are, al
proximately, the production for this coustr
- for the year was $7196j,6 SEQ If this rate c
A production is maintained, and 1t probabl
e will be exceeded, the production in the ncA
h ten years will exceed s7l0OJ0,0OO, an amcCn
&c nearly equal to the present volume of gu
10 paper currency. We can keep all, or nssrl
At all, of this in the country, IL we please, b
is simply taking paper out of the way, an
H. making room for it, We have produced 10
n. lIy twice this amount since the discovery G
et gold in California, and We could have reisir
led enough of it 10 serve all the purposes oil