Weekly Chillicothe crisis. (Chillicothe, Livingston Co., Mo.) 1878-19??, 1880-11-04
Limited Coinage.

NHNhSb G'lllll'ls
Ina speech in 1887, Calhoun said
that money bore the same relation to a
country and its people that blood does
to the human system. 1t constitutes
but a small part of it, but as the size
and powers of the body bear uniform
ratio to Il healthy volume of blood, 50
the wealth and productive forces of a
community are great or small in pro-
portion to the healthy volume of its
medium of exchange. The ratio of
blood to the body of Il healthy adults
is about | to %, that is, one pound of
blood for every twenty-five pounds of
weight of body. Iii children it ismore.
The child who weighs but 80 pounds
would have, perhaps, p pounds of
blood, and with a gradual increase of
blood material, which the sharp appe-
titc OF most children supplies, the body
grows in Il ratio corresponding to the
increase of blood. If the volume of
blood should he restricted. or limited to
q pounds, the child would cease to
grow. But the volume of blood con-
tinues to increase until it has exhaust
ed the resources of nature to expand,
when it and growth cease and become
stationary in the adult. The volume
of money in an old and pOpulous cOun-
try, with its resources fully developed,
would require stationary volume of
money, say II to $25 of national
wealth. But in a young and growing
country of vast undeveloped resources,
with "A large area of territory sparsely
populated, and people possessed of
the sharp appetite of enterprise, large
volume of circulating medium is need
ed, which should be constantly incrcas-
ing us civilization and enterprise eX-
tends in the wilderness and national
wealth leaps forth at the touch of the
labOrer's hand and skill.
If $l,0OO,OOO,OOO of money is ample
for full grown and adult France with
her S25,000,00O,000 of wealth, young,
undeveloped and growing America,
with Il national wealth of S3OOOO,OOO
600, needs Il fifth more in circulation
than France, which would be $780,
100000. This amount should, like the
volume of the boys blood, continue to
increase with the growth and increase
of national wealth, until the nation he
comes an adult, all its resources devel-
Oped, and its elements for growth eX-
hausted, when its currency volume
should become stationary with its na-
tional wealth.
BY extracting a pound of blood from
the body Of an adult weighing l5C
pounds, we destroy one-siXth part OF
his vital forces, so every dollar of cur
rency that is taken out of circulation
or prevented from passing into it, affects
$25 of the aggregate wealth of the ma
ton.
BY the addition of Sl00,000,000 Of
silver to our money volume, we suppl,
the basis of $2,500,000,000 of nationa
wealth, and for every additional hun
dred millions of silver, we shall real
twenty-five hundred millions, until on
powers and resources of nationa
growth are exhausted. With thes,
facts before us, and with mountains
of gold and silver in our midst, ant
untold and unimagined millions o
wealth burrowed in our vast Unde
veloped resources, waiting the magi
touch of enterprise, what folly, wha
; downright stupidity, if not umpardon
able criminality, for us to attempt t
limit or restrict the coinage of silver
, the very life-blood of commerce whicI
, nature has so bountifully supplied II
| with, and for the want of which hu
| manity is languishing and dyingl Gu
! nation is still in its infancy. 1t Wi
) grow and develop its grand manhood
5 or decline and dwarf into imbicility
/, as we feed or starve it. AS well starv
t and deplete the vital forces of chile
hood, by limiting its blood element
:. to / in 25 of its infantile weight, as t
: limit the production and assimulatio
: Of silver coinage into the circulatio
!, of young and growing America. A
Q the body of childhood grows and e'
y pands in proportion to the capacity {
S its circulating medium to carry to the
destination and properly distribute tn
t vital material of the food, so will OF
d people and our nation grow in propo
/ ton to the capacity of our financial ci
g culating medium to distribute properl
o the elements of wealth and the pr