Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1878-07-11

means simply that the lsgal tsnder.
noteis worth all it calls for in the
standard dollar of the world -this
and no moro. When it reaches that
point practical resumption il hero al
ready, and the equality in value of
paper and coin established, and this
steadily. maintained has never yet
failed to bring with it stability, con-
fidence, enterprise and renewed bus.
mess activitya Stability in finance
begsts confidence, and confidence.
and that alone sends the capital Of
the ma 4 into business undertak /.
ings. Under this system the largest
volume of healthy circulating me-
dunn is attained. The groenback
reaching par on the lst day OF JAM
uary, 1879, we shall have, as an
avaiiable volume of circulation 5000
600, 900, made up as follyws:a4 oder
The amount of United States s ssn3
notes then outstanding and in
the Treasury say. ....-..... $40, 900, 900
National-bank notes outstanding
5 thea s... ..-..... .44.... - 326s 000, 900
Gold in the Treasury. .,..... y. il80, O00, 900
Silver in the Treasury, ...,a 25,ooo,0OO
A total Of -. II. 49,. 5000, 900
And the national banks Withhold a Jazz 81
d then OF coin(not eountingtheir ,sViaag1
Il coin Treasury certificates. at IF no5t5g
& least ,..s................l Id, 900 900
Amount of gold in country besides 10000, 900
Amt Of silver in country besides 35 ,000, 600
s#w NMs#% ~ WtFWs5 sgft tCEW fl8@ -
Making q total Of. 49,. -. 800, 600, 900
And with a steady coinage ofsil-
yer at the rate of thirty ELK millions
per annum, of gold at the rate of
$40, 900, 900 per annum,9 leading the
world in the productions of the pre-
cious metals; deriving year!by year
a surplus OF untold millions from the
cereal grains that come from our soil
from the great staples that command
the markets of the world; with a
population Industrious, b intelligent,
and free, shall we look the great ma
tions of Europe IN the eye and ac-
knowledge that we cannot maintain
a currency of paper and coin 10 all
it's parts, in all its qualities, in all its
functionslas money, equal in value
to theirs2 o6W .T8fi34d haa 9atei
What constitutes the financial sys-
tenn and policy of the leading ma.
tions Of thesOld World7 They have
had the alterations of war and
peace as well as we. They have
built up great mountains of debt in
the national defense as we'll as we.
They have been through the vicissi.
tudes of adversely as we'll as pros.
perity; and while we are in the
midst of a conflict of opinion on the
subject Of finance, they have settled
down upon a we'll known and inex-
ora BILE rule of action. at #
The Bank of England is the index
OF her financial policy its circulat-
ing notes are demand liabilities, and
they have maintained at par since
1922 by constant coin and bullion
reserve in bank, at no time less than
IL per cent of it's demand liabilities,
and running sometimes to As per
cent. thereof.
Upon the same principle is the pa
per money of the Imperial Bank of
Germany, with it's one hundred and
fifty-four branches scattered over
the empire, and of the imperial gov
eminent itself, maintained at par
with gold. So with the National
Bank of Belgium. and so with the
Bank of France, the evidence
of which appears from the statement
which | subjoin:
certain European banks at dates mentioned be-