Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1886-12-09

that s65, 600, 600 is the extreme limit OF CIR
culation which may be obtained. It GER
tainly can not be maintained at that sum
when the new silver 81 and 50 certificates
are in full supply, and a return to the
treasury of one-haf of the amount Of
must be looked for; and so he asks
whether, if the further purchase
of silver bullion be determined upon, the
coinage might not cease, and the sum
which it costs saved to the treasury. The
amount expended SO far upon the coinage
of the silver dollar, outside of the cost
and consequent loss upon the purchase of
the bullion, amounts to 81, 933, 467. ALI of
the cost in excess, say, of the cost of the
coinage of the sum of SIS, 000, 900, repre-
sentS pure loss, and amounts, at two cents
per dollar, and the cost of these coins, to
So, 433, 467. To add to this loss would seem
unnecessary, and the sum could be expend-
ed in the purchase of that amount more
of the silver bullion. The adoption of this
plan would at least have the merit of add
ing just so much to the credit of the silver
profit fund. Besides, the cost to the Gov
eminent for transportation of these coins
averages 81. 95 per $1,000, and the cost to
the people of their return to the treasury
averages s2.4 per $1,000 The average
cost of transportation to the Government
of the silver certificates per $1,000 is fifty
cents, the cost to the people, say, 81 %, a
saving of PA per $1,000, strong argu-
ment in favor of the issue of
such amount of these certificates
as the business of the country will permit
to be carried on without disturb bling it's
gold revenues or interfering with the
maintenance of strict parity between
the two metals. The amount of silver dol
lars coined to date is s246 ga, 1856; the
amount of gold coin and bullion on hand is
1874, 450, S53 The cost of the S246 673. 1856 IS
S216 049,269 the present value, S1SS, OLA, 354
showing an actual less of S2S, 034.914.
The bank of France to-day is in this po-
sition. It holds in it's cash at par $3.50, 3d.
$50 in silver, its present value at par of
exchange, exclusive of abrasion, is $685.
509,691. showing loss of it's entire capital
and surplus, which amounts S44, OPS, 223,
and 100000 in addition if called upon to
liquidate it's affairs to-day.
Treasurer Jordon recommends altera-
tions in the present sub-treasury system,
in order that it may conform to the finan-
cial changes which have taken place since
this system was adopted. AS the country
increases in wealth and population, with
the consequent increase of it's revenues
and disbursements, it will be found impos-
sible to continue the system in it's present
cent bonds which, without some depres-
sion or event that can not now be forseen,
must take place during the ensuing fiscal
year, the only bond S available for the pur-
poses of the sinking fund will be the ~
and per cent. bonds. At the present cost
of the collection of the revenue of the
country, say So. 20 per 500, the loss on the
existing sinking fund, say A5000,0 900 per
annum, will be S765, 900 annually, assum-
ing per cent. as the best rate
which the bonds can earn. Without
discussing the consequent possible de-
rangement of our existing financial system
if purchases for the sinking fund are to
be main tanned at their present figure it
will be found to be impracticable to make
these purchases, the treasurer says, at
such terms and in such manner as to re-
lieve the money market in times of financial
distress. AS these arrangements happen al
most invariably at the time of moving of
the crops of the country, this statement is
equivalent to saying every productive
interest in the country must pay
toll to foreign buyers, through the lower
range of prices which obtain at such times,
because of the fact that our arrangements
for collecting and disbursing our revenues
are so defective as to need an artificial
and violent remedy in order to place in
active circulation the moneys withdrawn
from the business of the country. This
method of dealing with the public moneys
is not true of any country but this,
and the practical sense of the American
people, as shown through it's representa-
tives in Congress, should be adequate to
find a remedy for this constantly recur-
ring evil-one sure to grow and become
more burdensome in our future National
history.
found and adopted with the coming session
of Congress, because the evil complained
of will be upon US before it's next meeting,
and the reasury left without any means
of supplying the urgent needs of the coun-
try.