Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1886-03-26
COMMUNICATES.
ruE WORLDS PRODUCT OF GOLD AND
SILVER.

COMM DNuCAH RID
the WORLDS PRODUCT OF GOLD AND
SILVER.
To the Editors of the Shspherdaocn
Reqa~.-while there has been a
gradual and continued contraction Of
the entire volume Of the currency for
the last eight years, there has been
positive and continued increase Of
both gold and silver coins in the banks
and in the U. s. Treasury since 1888 AS
ia evidenced ard perfectly plain as
shown by the above statements, taon'
lated from the reports Of the Director
of the Mint, and from the Comptroller
of Currency. But the principal con-
traction has been in the paper currency
as Is shown above to be as follows:
Entire amount Of gold. silver and 49,, ann
Entire amount Dec. 50. iss5........ l,556.5li.7ss
,..,.s.. zinc. 1898 tn 1875 sS,7os. s92
Total decrease from 1888 to Dec.lss5 lOs,so2, 4s2
The contraction ia the entire volume
of the currency since Dec. 3Oth, lsS2, TO
Dec. Both, 1885, as above. is sos, 1902 ,4s2,
and while this contraction has been
gradually and continually progressing
month by month and year by year, as
If guided and directed by some studied
purpose, the increase of gold anu silver
coin In the U. S. Treasury and the banks
during the same time has been constant
and continued in the face of all the ef-
forts of those who wish to debase the
silver coin and by unfair and ungener-
Gus statements, trying to oetray the
people into the belief that gold Is leav-
ing the country because we have now
S3. 63T per capita in silver, and OF this
amount the banks now hold the pitiful
sum of SO per cent. to 90 40 per cent.
in gold. or in other words, that Of the
s3O7. 65s. 1927 in silver coin and certifi-
Gates now i'm these United States, the
4.4l5 State, national, private and saw
inps banks and the loan and trust COM
NAMES hold of this amount the insignif-
icsnt sum of 80. 100 ,S02. or about an av
erage of $4,000 each in silver to $43'Ooo
in gold. But the contraction of the
currency while both gold aid silver
have increased since 1888, has been en-
tirely in the paper part of 1t. which has
exceeded the increase of gold and silver
about sos, BOG, 692, and this amount added
10 the decrease of all the currency dur
ing the year 1885 of 1885, 100, makes
total decrease in the currency since 1883
to the present time of sl02 1902 4s2, and
reduces our per capita of gold, silver
and paper in 1883 from $29.6s to $27's2
a head at this time, and while the banks
have been able to contract the paper
currency in a little over three years
s19l .l34. 1916, the increase of gold in the
same time has been s7,s99.4l3 and the
increase In silver sS7 ,92S, 2SS. The
power given by the government to 4'4io
banking institutions to contract or ex-
papd the currency Of Sc 600, 600 people
ut will, to such an amount in the snort
space of three years, surely is an adj
monition to the people that the sooner
our banking institutions are placed upon
a basis of gold and silver certificates,
controlled and regulated in amount by
the government, the better it Will De
for the great mass of the producing in
dustry.
The following record must establish
the truth of the foregoing propositions
and dispel the delusion that silver is
driving gold out of the country:
Amt. of gold coin, 1888. ..s57s, S2S,7t
Amt. OF gold coin, 1885,. 5S6,ZN,7SS
Increase of gold coin since 1883 -ooo,.
to 1885. ......''''' ''oo''hA"
Amt. of silver coin, 1888. s2l9, 7SO. SSs
Amt. Of silver coin, 1885. 5J' ,ooo'oA
Increase Of silver coin since 1888 o-oo. 600
to 1885. ................'.'''''' o'''N''-0
Total increase OF gold and silver
coin in the Treasury Of the U. 5. -,
from 1888 to 1856. so'o]','oi
Paper currency In 1883. .$S5S, 662,577
Paper currency in 1885,. 6s2,6Zs,la
oo sincs IsSs VI pp 1872 1874 1893
Contraction of paper currency
since 1888 over Increase OF gold $500. .oo
and silver coin up to 1885 so,3OooSZ
D Ssss Vi 0ui.e.' ....'......... 7,595,7sO
TotoI decreaaP of currency since
iJ 1ssa ue0'oa'e " $40, 800, 49,