The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1879-08-07
CIRCULATION IN GERMANY, 1870.
Notes OF the Imperial Dank.....$ .$i39,777, 80
Eoih IN the bank....... I3O, ,SSf, $50
Coin in circulation, estimated. 5Jo,oOO,UD


Com IN the bank Observation-Disclosures. 1870 SS1 $50
Coin in circulation, cstimuted. Jo,oO0,UU
To!a!....................... $500 ,GG2. .Oo0
Total silver coinage of Germany is %i32.-
| 100000, of which about $2G9, 900. COO has
been replace with gold. Population Of Ger
| many 43,OO0,UO0, which gives about $50 per
capita.
| OF THE METALLIC MONEY OF runorE
AND THE UNITED STATES,
ten great public treasurics-yz: Eng
land, France, Austria, Russia, Germany,
Netherlands, belgium, Italy, Spain and
the United States, hold $l,lG5,Oo0. .000.
Eight creditor nations--viz England,
Germany, France, Belgium, Noliand
Switzerland, Denmark aud Sweden CON
tanning total population of 1870, 900 900.
possess about S2,700 100000 tout Of to-
tal of So 900 900, ,OO0) Of gold and silver
held by all Europe, which gives to these
States named $50 per capita Of
metallic money, while the rest Of Europe.
with population of l80, 600 900, posses
ses only 5000, 100000 Of coin or q little
more than 50 per capita. The nations
comprising this population are all debtor
| nations, which shows the effect of ma
tional debts in the distribution Of metallic
money. Russia has an inconvcrtiblc
paper currency Of about $S0O,000, 900;
Austria about $500 ,000, 900; Italy about
$40 ,000, 900, but there arc no reliable
estimates of the quantity Of tho precious
| metals held in these countries outside Of
the public treasurics, but, as specie pay
ment Is suspended in these States, the
amount IS not large. The quantity Of
coin in circulation i'll the three countries
givcn-Englam1, France and Germany
1t should bc remembered, too, are csti-
| mates by those most competent to make
them. In comparing the volume of cur
rcncy i'll different countries, it is ncccs-
| sary, i'll order TO correctly measure the
| relation OF volume Of money 10 prices, to
consider the business habits Of the peo-
plc and the econoinizing appliances used.
Thus in England the clearing house, the
bank check and other forms OF credit DO
a part of the work which in Franco is
done by money only. In other words, in
France there is less use of credit instrli-
mcnts and greater use of money, and con-
sequcntly tho money volume il larger
But in France there is less expansion
contraction, and fcv r panics than in
| England. While t.. sc differences in the
money volume of different countries ex-
ist, it nevertheless is strictly true that
prices depend ON the relation Of the
money volume to commodities and trans
actions. and it is matter Of the most
vital Importance to understand that the
volume of money in any country can
never bo materially 20 ltractcd without
breaking down prices, checking enter
prise, sitting production and producing
idlcness, bankruptcy and the rg train
Of miscries that follow. There is no
other cause of the present prolonged
stagnation Of trade and business in this
country but the reduction of the volume
of money-iirst, the reduction of the
paper volume, then the reduction of me-
tal'ic money from gold and silver to gold
| alone. This change WAS nothing less
than high crime against the whole peo-
pic. AS nothing but the withdrawal of
money from the channels of trade and
! business has produced the present condi-
| tion of things in this country, so nothing
| but stop to this reduction and tho full
reconciliation of silver and the libcra.
ton of the treasury hoards will restore
prosperity. The hcalthicst thing to do
at this time, perhaps, would be to let
moro be paid out Of the treasury, and
less collectcd-in other words, tighten
taxation for while and let the money
boarded in the treasury be drawn upon
little moro for government cxpcnses--or,
perhaps, better STILL use the accumulated
store 70 cancel so much interest bearing
debt. Above all things, let both the
precious metals, without limit or restric-
ton, be retained ns money.