The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-08-01
DO We Need More Money

elsewhere, who are afflicted with the
aore.money, greeubsek maniA II
taougAllnlly ponder over. From a tAbl'
made up for the year 1868 for Franc
and Great Britain and for the years ls6:
and .iS70I dor u the United States
showing tie ratio Of money eirGula
ton, 10 wealth and population, in the
three countries, we find the estimated
pJpulati6h abou. equal. The wealth o.
France and England Is pu! down at $40,
.OOOOOO,O 600 each. The specie OF France
i.lfeekoned at S70oOOO,OO0 and that o.
England 1t 800, 100000, while The Psps'
. circulation Of the former Is s952, O0Q. oOC
and Of the latter is $l96OO0.Go0. This
gives to France ratio OF circulation &c
wealth Of 2.3S and to England l,49, or q
yoluhie 81 Circulation per capita for the
former Of SOS O5 and for the latter Of
SIC IS. .-.a.-f
The United States in 1852 had circu-
lG.IOn Of specie aud bank notes combined
eatallo Sass, 81, 2ls, which in 1870 had
swslied to s7OO,0Oo,OOO, giving for the
,former,ysGr volume Of circulation per
capiia Of slS 95 and for the latter yeat
$40 IS, which was an exceedingly rapid
increase. Previous 10 the year 1862 the
greatest amour. Of bank circulation was
In 1857, when il reached S2i4,TsoOO
and the largest aggregate OF notes and
specie wss in 1859, when itreached what
was then considered tlsenOrmous sum Of
so, $4,000, Yet to day our legal ten
der paper circulation is 60 per cent great
;sr .h6p that Of 1851, and our combined
cirSaiasioh Of paper and silver money IL
s79O,oOO,OOO, or s429, $4,000 greater thar
the plethoric year Of 1859, and $4,000
0Ooiau excess Of the total circulation il
1887 The 1896 100000 Of money in cir
culstion in the las. named year, which
was practically all paper. il we meas
ure hs vAIue by the highest price
Of gold for that year, which was 146:
had but little more than hall
the purchasing. power Of our present
volume Of combined silver and paper
circulation. Add the increased purchas
iny'i9ser Of our present circulation tG
its volume and we have for the year 1878
as compared with the year 1857, money
power equal to 81, OOOVOO,0O0. Take the
year 1873, in which We reached the in
to1icatius climax Of our imaginary pros
perity, "uow lost to sight, but to memo
ry dear,' and measure the value Of ii
currency by the highest price Of gold
(lls,) and It gives an additional pur-
chasing power TO the money Of 1873 equa'
to one eighth Of its volume; or, in other
world, intfeasesits volume as compared
with the money Of 1873, ninety millions
Of dOllar.i virtually giving Us to day, by
comparison y - tC w., ~ =,
Nu ithpos.a"' tss'Ol "a s,.,ait,;..
The increased ,puschasingi power of The
money OTTO aay 1.-THE preceding iguresi ia
simply relative to the price Of gOldin the
years menHoeea ioo' spa 100 1. WIN NV
eSmpnssfcin yAsues Oh e9@%9uiHe' ts
ma .a.s NE same; Il We axe axe inIo .ue
calculation the reduction ,ee 10 lns price,
OIL SonmOaI'le'' .ne aim,hu. 'S,i .. OH 'ant i
anu 'ue 'Aoa'' u'' t's'' "es
Na'e expenditures eA'epu.pS 'niUuS" '"e
last WE'VE years, 'ne fa'i0' Oh .ne pat-
chasing power Of .0e money Of . 100 .. !.
compared win 'nA! OIL 100, ana 1910 u
greatly augmented ana ms 100, not
withdrawing the shfieE' and howis
shout contraction In iae'' however Tue
comparisons between cinereat countries
or between inherent times Id Tue same
'0o1.fy "hi,e 0, interest arc OIL Ou' niue
r'aeacai value 10 determining Tue heces'
SAfy volume -ol' currency LOT any gwen
period twenty ao'aF' Oh currency per
nssa IN cue county may DC less aaequsle
p@P ssea4itslHsn n''een oOiia" 40 an
0'hef' ana 'ne same may DC SAiu OIL uInsi'
ent periods in' me same country 1t Is
Tue aite@Ps 70 Ge.eEm.he sns exact iAGo
Pe'Sfen 'ne s eFy medium ana Tue
Fsa'P 9tPopullaa,.9sn1Si county wh,eh
pTss n!e me wi'e uelifiu% o. Tue inpA-
ton mama;
The causes which work TO require an
increase Of currency are hish price, a
scattered 4 fr population and rapidly grow,
ing country ACTIVITY IN pFoduehon and
exchanges and niadFanees 10 ifee eiscu'
lAuon. Against 'nese are lAelll'les ior
INSTRUMENTATION and internal exchan.
sss: the use OF representatives OF money
"a ,,n;d;,, II ~ moysr.n, =, roror
~, p'.' =" Wv -U's' V iHU-v'
hlgh prices are a poor reason ior the
issue Unreasonable paper from the fact
that all the innrease win be taken nm nv