The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1877-06-08
John Sherman--The Way lie Is
Trying TO Bankrupt the COun-

-|~~-" @ft"I~tN
i We see il announced. that Secretary
sherman j. directing his energies and
taxing his wisdom TO bring about an
early resumption OF specie payment.
\ he believes that evsm without further
Lee sation NY congress assumption can
be efec'e, ly the beginning Of tile year
1872. The plan upon which resumption.
is TO be brought about is un4reslionably
a further contraction OF tile circulating
: medium, mAich is already Inadequate.
and The scarcity OF which has gone far
70 damage business, as we'll as 10 disturb
yalaes.
A. Is passing strange that the govern
meat NJ Washington for - many wears
has persisted IA this line ~ policy In the
lace of HE most convincing evidence
that its continuance IL certain death 10
commerce, and only trueht with rain
Gus consequences. For ii il very evil
dent IN comparison with the money en-
poyed 10 do busines, on in other conn
tries, that one OF our greatest evils lust
now one of tile greatest barriers 70 The
restoration OF business. is the want OF a
sufficient amount Of money TO do the
business Of the country on.
In illustration. from statistics compi.-
cd by the Philadelphia Press. il appears
that The estimated value of gold money
in circulation in the United Kingdom or
Great Britain aud ireland on the sI.t OF
December, 1875. adopted by Dr. I.indcr-
man, director OF the United States nints.
amounted TO S647.3l9.30O. The like ap-
proved estimate OF tile silver coin in cir
culatlon there Is s92, 10000. The paper
currency Of llc same date ia given at:
Bank Of England notes, f2S.O4l 600:
notes OF other English banks. III. LIS. .OO0:
notes OF !risn and Scotch banks. fl3.-
52S 90, or total paper currency or
$224. $4,000. This statement give total
circulation of ss64 0i4tCO. or Sso per
head OF The population ia the i'niicd
Kingdom, in The following proportions:
Paper money, 81 per head gold coin.
$2O.I2, and silver coin, S2.8S.
France Is known 10 have great hnsi-
ness success. andto enjoy Great CONNER
cial prosperity. Al. Cernuschi. IN his !
testimony before our unonetaryrommis- !
sion IN February, 1897 estimates ihc
money circulation in France at 81 .oVo.- \
10000 tieduciing $500.00O in reserve IN 4
the banks) This would give for active
III Lnsincs sz7 per head cf,
the population.
Now ior the United States. Ia this
country on April I. ls77. The "ouistaud-
ing circulation Of United STATES notes.
including fractional rurrescy. was S3s..-
l6l sos: Of national bank notes. $685.
24o,sGS. amounting to S704.402.476, 10
which add for subsidiary silver. issued
up to that date ~29.637.uO: total S734.-
3ss.47o. Taking the population az a.
$4,000. we have circulation of Sl6.45
per head. Ne account is here taken Of
the unknown, but very small circulation
or State bank notes. nor Of gold in nsc
of business in the Inlcd States. Nor
is the inactive money lying id tile treas
ury and IN the reserve OF tile banks TAX
en- into account.
With these necessary allowances. the
Of Great Britain and ireland
stands AT $50 per head; that Of France.
with bank reserve deducted, AT S27 Cor.
II the reserve be added. S4Ol, while that
Df the United States j. only Sl6.4s. or as
much less as the inactive money would
reduce IL. Frobakly--a almost certainly
be circulating money ia the use of bus
mess In tie United States is much less
han one-half llc amount per head that
: employed in England and France.
The United States has not The one
half OF the money to do business OH that
France has, o. as much by third a.
treat Britain POSSESSES. France is ,
inown TO enjoy greater amount OF .
business and cornmclvial prosperity than
my other country III the world. bv vir- (,
ne OF the fact. more than anything else. ,
hat her people have the money 10 do ,
business on. Yet IN the face Of the cx-
mple.our financial viseacres continue 10 /,
etire the currency aud cry coniracticD,
ontraction; while tle people. suffering
rom general stagn ion OF trade. Snd Oh
he verge OF bank atgtcy. crv mpnsv.
money not gold b1 grecnbacks. plcslg- |;
d upon the faith ~ the nation. Yet ,
oEtraction goes on while we are al 70
NJ. Ia n business vsv. down The broad :
DAD 10 commercial nin together Will
ot some one pray that our lawmakers
nd those who direct the finances Of the
ountry may be blessed with an ounce
{ practical common sense that they
nay be convinced that the way 10 make !
money plenty Is not 10 make il scarce "
sithcr Is il possible FOR the people 10 be !,
prosperous or successful III commerce.
4 way in The absence Of the requisite !
mount Of money upon which TO trans \.
ct the business OF toe country.
PETE's AMUSEMENT. : An elderly lar- \
cy was inquiring Of policeman ifhc 4
new anything OF his son Pete. The I
'oliceman replied that there was Young ID
arksv In the lookup for breaking up a n