Buchanan County bulletin. [volume] (Independence, Iowa) 1869-1891, 1878-08-23
*No fractional currency included.
fEnumerated all other wears eStimAt,


Thus you see that Notwithstanding the re
morseless and wicked" contraction Of which
we have heard, we have now and have had dur
ing all these years of hard times, between two
as we had previous to and during the prosperous
year of 1850. Why do the wants of trade demand
more now relatively than they did then? The
multiplication OF banks, raiiroaos' Hieg,aPn to
economy in the use of our medium of exchange
Sometimes It is said that we have less In proper
ton to our population than some European ma
tons, and France is often referred to as having
much larger circulation than the United States.
But it should be remembered that the circum-
stances are very different in those countries. The
bank check, so well known with us, Is absolutely
unknown in France, outside the great cities. In
the eighty nine departments there are only sixty
branches of the bank of France, and in the saw
ngs banks Of the entire country NE c afe
alone. In the United States there are 6 GOO banks
and the custom of depositing surplus funds and
checking against them prevails universally vel, all!
payments are equally prevalent. .U
1RREDEEMABLE PAPER MONEY.
The advocates of largely increased issue Of
legal tender notes no longer propose that such
notes shall be redeemabie In coin, or be paid in
any manner whatever. They are not to be prom
ises to pay but money real money, anf money;
the foEy 81 those issuing it1but is to be legal
tender, and there are those who suppose that If
a. tSnt :; ,,,S 10 n,v nass current among
the ZANE hnt that Nv some mvsterions mower II
n,,fS s,.i,, ;tsiS syS 10 ~ canal vals,e dol.
isr for Soiisr With ~oid Nothin1 Could he more
aherrd AZ = thia ~ m mora direcf cnnfiict with
The taachinc s ~ hi.fnrv Ar experience shows
that the nnIy ,ysv in which napssf money can be
Iant at ,ar With ccin IL Nv having It readily con.
vertihia into coin - the ontion Of the holder.
Tho ii,nstrat;nns s,,rn;shed Nv history of the
1o.sas 70 lines hardshins corrnntions and crimes
attend;na Ia roo issues nf nsner money are numer.
's d 81 "a Inc sirilar;fv One HUNDRED and
Ss, oa :, " a s the ronch nScn,e were deiuGed
~, Lohn 1sw and The III fass regent Orieans
into he widest schenses Of irfiation and specu.
lation, to end ii, Reputation and financial ruin
III ane eaap SpuStSa ~ the General sentiment
n ntorta3nsT SSr him -
ei''0' "'S !" t - $500 f-f sfei t1- 10 =
Here lies the Scotch protector,
Uneoualied calculator, h ID = 20 lc7g0
Who. by the aloebraic rule,
Hath made old France to play the fool"
Id N y hi ~. -. fii1g.
Our own colonial history furnishes instances OF
the issue of almost every species OF paper money.
and uniformly disastrous IN proportion as tnsy
money and the assignats Of France are familiar
instances Of efforts to maintain largely inflated
issues of paper money by the most severe and ex-
traOrdinary measures, yet ending IN most signal
failures There is, so far as now remember, NOT
q single instance on record, OF irredeemable
paper money issued directly BY government
that has not ended at last in Reputation and dis
grace. The paper money Of England during the
neriod of the bank restriction was Issued by the