, 1875-10-09

Same olu ''GUfiBLfau iR1tn hnu western Hf1E.
The statistics Of tho binding tllring the year,
which we print clscwhers, aro Oh eloquent
proof Of this faith and grit.
---..---.--.....--
THE SUPPLY OF GOLD.
Tho answers Of 1fr. ScnuHz 10 tho care
fully y.rrepared questions propounded to him
at Canton, O., aro, in brief. ono of the ablest
cxpositiots Of tho cnrreucy matter that has
been published. The Twelve questions and
answers were published in THE TRIBUNE
yesterday. Wo reproduce ono Of these lues~
tioNs, with tho nngwer,-nn error having
occurred in it's printing yesterday. They
were a. follows:
Questioa-1s It not fact that. Whilst tho Increase Of
tho population business, and property Of uur country
tululEea corresponding increase ut tho volume Of
money In circulation, there Is at tho present time
fess quantity OF guld nnd efyes IN tho country 10
supply the circulation than there has been At any time
Giuco thu clohe oi Tho la.o Var?
An+trtr--1 hopo thu wr4se1 Of th.h Iettrs Will not
consider 1t vsnt Of co,rtcay say be IL Ut logger
heads With the a u O Of finance. (Cheeta.I It Ia
well-known fact that corresponding Increase OF
currency Ia required with tho increaso Of population
business and property. Money Ia q measure Of ralus
md tool Of exchange, nnl you might aa well ssy
that bceauac to measure ten yards Of cloth rcquecs
sart'sct, TO measure twenty yards Of cloth requires
Twp yntdst1eSs. tIanxhtey nnd cheers.1 Ninety
three Fer cent Ut tho exchanges Of thu country nre
carrtdd by !he transfer Of bauh accounts aud
only pcr cont BY tho transtcr of currency from
hand to hand. Formerly, whom building waa put up
II aA neeetsasy to havo 80 nlAuy hands to carry tip
brick aad mortar. Put up stean1-sngine thoss ta do
the same work. md the writer Of ha letter might pot-
hays ray that Atl want hands (great cheer
na1: and still It II tho standing theory nf tle lit
dationista h4t tho iacrcaso OF currecy snuat core-
spoi,d with thu Increase ot population and property
Al 10 the aeAtton whether there Il not ees quantity
Of gold ami ssrr fu The country 10 supply the elrcu
lstion thAu heorc,of course ttero H. and will be lcHa
and 1ess tho longer thht financial policy continues
which deprves gold and silver Of employment; and,
It tlo intat!onsta get control Of thu Government,
they might succeed III driving lie Isst gold doar out
Of the country. tChccrs.}
This question ingenioualy suggestcd as an
assumed fact ono Of the absurd assumptions
Of those who advocate an increase Of the cur
roncy. It is that tho amount of silver and
coin, Or currency, to execute the exchanges
Of commerce, must Of necessity increase with
the population nnd business Of the country.
This is ono Of the great delusions OF tho
ignorant writer's md takers upon finance.
ANY man in Ch;cago having thousand dol
lara to pay in New York does so by deposit.
ing his check in Chicago bank for that sum,
taking draft on Now York, whicI. tlraft he
sends hy mail, or ho can, if time ba impor-
tant, deposit his check in tho Chicago bank,
and that bank, by telegraph, can havo that
E'sm applied to tho payment Of tho note in
New York ThiH operation il multiplied
many thousand ti,naa each dsy between all
tho cities. and towns, anil Villages of the