, 1875-12-18

moasure In attempted. tho intlatiouints viii ro-
fully, ;. JoHs Wonpnr}por.
J:
QUESTIONS Aho ANSWERS,
To ~ Editor "f This Chttaso 7f,hun.
DUnreuF, Ia. Dec. f4.-presuming that in
flauonihts are candid aud honest tu their onlu~
tons, with t1e exception of that class wlo from
motives of pura cusssdness, dssiro to seo tho
national aeourticB doprecisted. and the c,odlt Of
the Government impaired, 1 with to t1atsfos to
you fcw conlndsuma which trieuls Of u,Ino
lIavc put to nc, aud Which ALL not atIo to
solve:
1. What IL tho cstimatcd ac.ual amount OF
paper-nonoy' In circulation after s!sduc.iug
from tho amount isaued tho estimated amount
anntililated BY wear, tcAE, aud 1ots ? For in
a.ahce: LII tue Chicago fire, IN tho Doaton
been destroyed. Il tho pinAIpg Of sIps.
and in the numbertass accidents Of dftoen yoars,
very great amount has boon utterly Lost.
2. Has this loss boen sufficient to cripple tho
circulating modum" to any poroeptible ex-
tens aEd has it appreciated tho value Of tho TO-
=. Has the amount OF ercenb,cks lont to tndi-
v1duals been Il rain to tho {ioyernrn.nt?
i. Has tile amount OF Easiona1.13auk cugrepoy
thus loHt been + gain 70 the banksi l uso tic
sorM . amount" and not "9uauttty," bccausc
we hre accustomed to aPeak Of sLis stun asrnon-
i light my pipa, vhen an drunk, with = 30
Natlolal-Bank note, docs tho bank gain 30
g. II the loss and destruction OF thly currency
BY accident is gaia to the banks. has this gain
ever beon considered when estimating the pri,fits
Of tho banks know that, ii throw a si0
cold'ptoco into tho OCEAN, lose e1n. ard tho
commercial world loses tho u1o OF $lO, but NO.
body geins anything.
I have noticed fotr long timo that YOU have
a hA F3F tkn su.3.t
a.! aorts OF financial theorists, and with adn,jra-
be patience hayo answered heaps of ignorant
questions On tho currency that IN tho reasou
have submitted these. RcanecttuiIy yours.
N. NJ. THuMnuLL.
REpLr-The quantity OF RreenbackH that hayo
Dnen Lost in tho varioua waYB suggested by our
correspondent, undoubtedly amounts 10 several
millions Of dollars.-ps1hap~ Ct, ,o0o, o0o or s0.-
1000. sud, including tho fractional currency,
$4,000 600 to S1o, 100000 In a!l. Tho amount
however, aud measure OF contraction, Is inap-
pfeciabto On the value OF the whoio volume OF
currency.
In regard 10 lost bauk-notcs, NC hayo frearopt-
~ answered our correspondents question by
citing tue law All loas from 4ny CAUSE OF bank
notea inurea to the bsuefit OF tho Government,
When National Bank goes Into liquidation, or
"itldraWs It's circulation, 1t Ia required to do
poslt with tho Comptrolloe of tho Currency
sum OF legal-teuder groonhacks or gold oo,ua
equal to tho number Of dollAn ct notes iksued
to 1t by the doyofnment Consequently il any
bauk-notes u turn up misaing." and are never
presented for relomptloa, tic Government gains
tile amount, and the atockho!dera Of tho Bank
loss 1t.--Ep.
.......
THE WATER IN THE CURRENCY,
To fAs Editor u The Eh.capo Tribune:
ROCHESTER. 3Iinn. DEE 14-Laat Hn+rrds -,
TnfnuSE contained seycr,l roInmns ~ .raci-
mems nj tl,s 1,sdom ~ b,tnI ,,,,ao. !ss..
f}n,n,o ..,rau ,r,,n ,ns,s. .aan aa . susuo' apou
Naeof nntt! dry weather. among whom MIR.
Thomas Richmond IL oonBplcuous for 4 flultf,ess
calculated to soak fnto thu drv,,t conrrobor-
uop. uis poor " f,rn,ar !" ..to n,,,, ssu ,raaasa,
oucst,ons nn,a,v,ands ,,a, ,,a, au ~, pI.s ~
per cent from the value OF hin farm Rnu all
products Of It herenftcr,-lb par cent OF dcal
sffeparaole loss! Poor, wator-eoaked man
HamRatv NJ. H1chmondl
1ho RontleInen soeM to overlook tho fact that
hoou co1feo.s itself. aud canuot
be 81 s5atom1toAlly maintained for nny great suQth
Of tmo; that discount adjusts itbei in al! large
tfaasactlons very regularly. Hundreds OF itomA Ut
IRON published prioes. The Wholesale doaIcr
SELLS Elasa, Wood-Bcfews, aud many other thugs
st 10. 90. or GO per cent on, ovon in currency;
30 OF ptAnoa and many other Boods. Values are |
sAciipStFSn HUN H9EG66ikS9 kO kAhE LUG
lnllated portion OF tho psiceH-tho watcr-iu |
easily soon. Tie toudoncy Of Hato traffic IL to
lard pan; 70 haEo tho uct result; to buy, 30 to |
speak. hlr. ltlchniondH farmer'n grain without !
the char md huHks.
hut what really hnrta those gantry Ia tho diff
guilty Of floating speculative enterprises in face |
of approaching steady pricos. SMOOTH |
water sailing Gomez too soon. they
*on'a rathor tako their chances OF gong
ashoro by and bY on raft or arar, than 70 70
satn without storm or Hood. ''' '''
II tho American poople maiutain commerce, it
noels TO be in some harmony with tic worlds |
prices, aud IN tho ,world's currency. No must
keep atop in that mill OF have our legs broken,
And no sct OF Congress-, or contriyaneo Of uubni.
dius Or tariffs, will lulp us to got something for
aothuR for any great length OF time, without
iteallnK 1t, II, BY Ill act Ut Congress, jacles
lad been called = foot for some temporary nur-
'ose, doubtless II wera sol,sce OF pleasure to =
Lni nj mjHnry Afterwards tn havt, liz niaeon,.t
aknn m l{ut vo, sud cnn sos +,,.s ~ ~ ~