The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1879-08-07
CIRCULATION IN GERMANY, 1870.
Notes of the Imperial Bank......Sl39, III, $50
Coin In the bank ............. 100 SS4, ,750
Coin in circulation, estimated. 59O,oOO,0OO
:. .................... ..SsGO, ,G62, 900

Coin in circulation, estimated. 59O,0OO,0OO
,G62, 900
Total silver coinage of Germany is S432,-
100000, of which about 100000, COO has
been replace with gold. Population of Ger
many 43, 900, which gives about $50 per
capita.
OF THE METALLIC MONEY OF EUROPE
AND THE UNITED STATES,
ten great public treasuries-viz: Eng
land, France, Austria, Russia, Germany,
Netherlands, Belgium, Italy, Spain and
the United States, hold sl,165,O0O,0 900.
Eight creditor nations-viz: England,
Germany, France, Belgium, Holland,
Switzerland, Denmark and Sweden-con-
tanning o total population of 130, 900, 900,
possess about S2,700, 100000 Tout of to-
tai of S, 0,O0O) of gold and silver
held by all Europe, which gives to these
States named $40 per capita of
metallic money, while the rest of Europe,
with population of $50, 1000, 900, posses
ses only $500, 100000 of coin or little
more than So per capita. The nations
comprising this population are all debtor
nations, which shows the effect of ma
tional debts in the distribution ofmetallic
money. Russia has an inconyertible
paper currency of about SS00,000, 600 /;
Austria about $460, 900, 900; Italy about
S24O, 900, but there are no reliable
estimates of the quantity of the precious
metals held in these countries outside of
the public treasures, but, as specie pay
ment is suspended in these States, the
amount is not large. The quantity of
coin in circulation in the three countries
given-England, France and Germany
it should be remembered, too, are esti-
mates by those most competent to make
them. In comparing the volume of cur
rency in different countries, it is neces-
sary, in order to correctly measure the
relation of volume of money to prices, to
consider the business habits of the peo-
ple and the economizing appliances used.
Thus in England the clearing house, the
bank check and other forms of credit do
a part of the work which in France is
done by money only. In other words, In
France there is less use of credit instru-
ments and greater use of money, and con-
sequently the money volume is larger.
But in France there IS less expansion
contraction, and fewer panics than in
England. While these 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 IL ia q matter of the most
vital importance to understand that the
volume of money in any country can
never be materially 20 itracted without
breaking down prices, checking enter
prise, sitting production and producing
idleness, bankruptcy and the long train
of miseries 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-frst, the reduction of the
paper volume, then the reduction of me.
tallic money from gold and silver to gold
alone. This change was nothing less
than high crime against the whole peo.
pie. AS nothing but the withdrawal OF
money from the channels of trade and
business has produced the present condi-
ton of things in this country, so nothing
but stop to this reduction and the full
reconciliation of silver and the liberia
ton of the treasury boards will restore
prosperity. The healthiest thing to do
at this time, perhaps, would be to let
more be paid out of the treasury, and
less collected-in other words, Tighten
taxation for while and let the money
boarded in the treasury be drawn upon
little more for government expenses
perhaps, better still, use the accumulated
Store to cancel so much interest bearing
debt. Above all things, let both the
precious metals, without limit or restric-
tion, be retained as money.