The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-12-04
III, Immense and lncroasIng Volume of
Money.

money.
The telegraphiC report Of the director o
The U. S. Mint is given in this issue. It.dis
closes some very interesting figures in re
n,d TO the amount OF gold and silver in thu
couutry. Among other things, it show
,ba, on November Let the amount OF golC
and silver coin and bullion in this coun
Try had reached the vast sum Of s6l2, ,2O3,
M Of which amount Si53, ,SS2,69 wa
voJd, and $l5S, 800, oil silver. In the way
Of gold coin, the Treasury holds s62, ,l67,
NJ, the banks $ll2, 2,777,0O9 and the people
,AO379,l3 In the way of silver coin, the
banks and the people, hold .over $50, ,0OO,'
GO.
When we add to this vast volume oi
coin and bullion the paper circulation OIL
tie country, including the gold and silvei
certificates, which amount 10 over S42,'
OlOOO, and the greenbacks and bank
notes. amounting to about $3.50, 900, 900,
We have a total volume Of coin, bullion,
and paper Of considerably over one billion
Aw hundred and htirty millions OF dollars,
which is per capita OF twenty.four dol.
lln, COUNTING our population ut fifty
millions.
OF course all this vast sum is not in cir.
,ulaiun. We must deduct tue coin and
baon in the Treasury, and the bank re-
serves, the redemption fund, &C., amount
ing in all to ssy-s3BO.OOO,OOO. Making
these deductions, and We have in the shape
olcoin and paper atlost among the pespls
Elsast 5000 100000 Of money. And vel
our Greenback friends are not entirely
hAppy.
The effect OF this great volume o.
money is becoming more and more ap
parent every day. There is an immense
iuf4tiOn going on in every form Of seCnri
ties, such US stocks and bonds. A syndi
cite subscribed $4,000 900 the other day
10 complete the Northern Pacific road
There are all sorts OF syndicates backing
up other great railroad projects. Th'
railroad fever is rising all over the Coun
uy, aud soon the iurore to push thest
enterprises will be as pronounced as il
the palmy days before the panic. This il
the inevitable effect OF SO much money.
Great as ia the present volume o
money, it Is steadily increasing, by thu
receipts from Europe and the products o
our mines. There is no contraction o
paper provided for except as the bank
may surrender their circulation. Thi
they may conclude to do to considerabl
extent il the government tax on deposit
and circulation is not taken of. The,
complain that the present low rate
Oi interest make these taxes 8
Ouerous as to prompt surrender O
their circulation. Be their acsiol
as it may, it is certain that the govern
uent ought to avail itself OF the presen
plethora OF gold and silver to draw in q
is small notes. There should be n
Ueenbacks below Eve dollars. Gold an
silver should represent the small chang
Otthe people. What is the use in coinin
silver at the rate OF two millions pc
month and not forcing 1t into circulation
Hi is good enough for money 1t shoul
be made to circulate. There has been
great clamor for silver dollars, and the
should be heard clinking in the hands an
pockets OF the people. Now is the tim
to set them to Clinking, and to draw j
the one and two dollar greenbacks.