The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-08-02
HAVE I'VE AS MUCH CURRENC Y
As OTHER NATIONS?

If we have rot why should we not
have it If we have it not, must we
not suffer by business paralysis
Mr.. f. D. Mansfield, once editor of the
Cincinnati Gazette. painstaking statistician
and a writer familiar to all readers of that
paper, gives the following figures and conclu-
sions in regard to the volume OF circulation
in this country and in the principal nations
of Europe, and the practcability ofresuming
specie payments in the United States, in re-
cent communications to the Gazette
Mr.. Mansfield first considers France and
says:
"The Bank of France is the best conducted
institution in Europe, and the French people
the most economical The statement of the
Bank of France, taken from the London
Economist of April Z: 1877, was as follows:
Cash fS3, ,642 600 is $443 ,21O 900
Notes outstanding fl03, ,274 900 GIG, 10000
Total circulation fr9l ,9l6, ,OoOis se5e, $50 600
''We see, then, that from the statement of
the Bank of France alone, without reference
to any ther institutions. or the money in
the hands of the people, there was $3.50, 900
600, either in paper or gold. But in addition
to the sum in circulation and controlled by
the Bank of France. there is an immense sum
in circulation among the people, and not
within the report OF the Bank Of France.
This sum cannot be exactly ascertained, and
has, of course. been estimated differently by
different persons. Statisticians allowed |.
dimunition on account OF the payment Of the
war debt to Germany of ? 600 900 600 francs
from the 5000, 900 900 previously in France.
The whole currency, including the coin in
the Bank of France, WAS thus estimated:
Francs
Metallic currency, coin and bull
lion. ...... 4 600, ,000, $50
Notes outstanding, as above. 80. 2 .57l $50, 900
Aggregate ...... ..............6 G. .5SI ,S5U. COO
Equal to 1916. $40 coo
''The present population OF France is but
little different from So. 500, 900 making $50
to each person. If we were TO deduct from
this the W hole coin and bullion OF the Bank
OF France, the remaining currency would be
more than e23 to each person. 1t Is claimed
bv some economists that the amount OF coin
and bullion in France is much greater than
that OF the above statement. but | am coz :
vinced with taking the minimum -
GREAT BR1TIAN
''NeNt taking Great Britain, we can ascer-
tain the bank-note circulation withotlt much
difficulty, since the whole bank notes issued
are registered and reported to the govern
ment The amount OF coin in circulation is
more difficult to ascertain, since II is to be
determined not only by the coinage for a Sc
ries of years, but bv the wear and tear, the
exports, imports, &c, &c. An estimate of
high authority is that of Bismarck, who
estimated the coin in circulation in 1856 at
.s7O 900, 600. or $3.50 900. 600 Another est :
mate. for 1872, taking into view the exports.
imports, recoinage and waste. made the total
gold coin circulating in the United Kingdom
fS4 SOL 600 The amount of silver coin then
circulating was fi5,OOo,OOO. The bronze
coin was fl.14S.OO0. The excess of bank
notes over coin reserves was 80 $40 900. We
have. then. the following complete table of
British money at the close OF l772, viz:
Total amount OF gold circulating in the
United Kingdom ESi,551, 600
Total amount OF silver coin 100000
Total amount of bronze coin !. S.OCO
Bank notes over coin 4O,5iO.O0