The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1877-07-06

OF money"
1t is nevertheless true that the wants
Of trade, though shifting, flnctuating,
underlined and undetnable, may be in
adequately supplied by the amount of
money circulating in country. A
country of great CONNIE cial activity
will require more money per capita than
one of less commerce, though Of equal
wealth. 1t is, therefore, by compari-
son of countries that we may approXi-
mate the amount OF money needed to
meet the wants Of trade. Such a COM
parisou would indicate that this coun-
try has not its proportionate amount OF
money, considered in any form, as COM
pared with its commercial character.
Switzerland is a non-commercial coun-
try as compared with us. Her money,
in 1876, amounted to Sc % per capita,
whereas only five years before, in 1871,
it was only 81 81 to each person. In Bel
GUM the amount is $13 so per capita; in
1871 it was IS u. Holland, in 1871, had
$1S q, and in 1876 had $22 so per capita.
Counting our greenbaek and bank circu-
lation at $700, 900 900, we have SIS 55 to
each person. But France, not more
commercial than ourselves, has, of coin
and paper in actual circulation, three
times as much as our rate per capita
$45 to each person. England has about
the same. Germany has little less
than France.
From this it would appear that the
people Of the United States have less
compared with their trade. The problem
then is, how to supply the additional
amount OF money we need. To do this
by the issue of more greenbacks and
national bank notes would be sheer ill.,
flation; because this representative
money even now represents neither
silver nor gold; only promises OF silver
and gold AT some future time, and that
time fixed by no law, and The promise
covered by no pledge, save the pledge
OF public faith; and against that pledge
no writ of foreclosure can ever issue.
With this problem before them, and
with this dilemma staring them in the
| face, the country's need tor more money
on the one hand and the obvious evils
OF imitation on the other, what do Oul
Statesmen (?) do? They deneonetize SiL
Der! They deliberately deprive the peO
pie OF large proportion OF their soliC
real money, thereby still further dimin
ishlng their already too scanty amour
of money. They WantOnly cut one o
the cables that held the country to it!
financial anchorage; the strain upol
1.-THE other must be correspondingly III
Ecreased. They foOlishly sundered the
tbuugh between themselves and the tree
A fall was inevitable.
The data derived from other countries
lgo to demonstrate that this country ha
no redundancy OF money in its reach
The ratio of $15 55 per capita is far below
that of any other country of equal com
! lmercial activity. The problem was
fhow to enhance this ratio in our favor
SO as to give us the amount OF money W
need. Under such state of things, th
demonetzation Of silver, shortening al
, already short supply, seems like the in
faluatlou of downright lunacy. Will
out gold in their circulation, and nov
with silver depressed by demonetiz
ton, the people Of this country mish
= we'll take up the lamentation OF the bt
reaved Patriarch, when he sorrowfull
exclaimed: 'Joseph is not, and now y
would lake Benjamin away from m
alsu!V