The midland journal. (Rising Sun, Md.) 1885-1947, 1889-07-19
S7l7.172,6ss As
LIABILITIES.


Gold certificates. s 1866, O28, 552 90
LEES amount hand 81 1856 793 90 Sll6 1872 759 90
Silver certificates :. 262, 629, TI6 90
Less amount on hand 5627, 30l 90 257 100. AS 90
Certificates of deposit 1875 OOO 90
Less amount on hand 100000 90 l6.735.OOO 90
1t requires some investigation to compre-
bend the Treasury book keeping and the
immense sums of money lying idle in the
treasures of the United States. The first
entry to Uncle Sans credit is 1903 5O4 ,319
in gold coin and bullion. Against this en-.
try is charged gold certificates $l56, OBS, 552
but there is lying in the treasury of this
amount S37 ,235, 1872, so the amount actually
charged up against the gold is SIG, 1902, 759.
OF silver standard dollars and silver bullion
there is lying in the treasury $685.. 1904 1856,
besides $G,0S3, 537. The silver bullion and
trade dollars are ciphered at about % per
cent below the standard silver dollars.
which would increase the amount of silver
money in the treasury if the bullion and
trade dellars were coined, to 1872 339, ISL.
Charged up against this silver is silver
certificates $262, G29, TAG, of which amount
$5,527 ,30l were lying in the treasury on
the LIST Of July. These charges against the
coin, Of certificates, are in actual practice fic.
titious. They are doing duty as circulating
money among the people and will thus re.
main until the notes are worn out, and if
The government were TO issue So in certif.
icates (silver and gold notes. for every dol.
lar in coin and bullion, that amount of
paper money with the coin basis would re-
main at par as long as the government
stands and the business of the country nros-
pers. There are upwards Of 800 millions of
greenbacks in circulation which have been
in Use as money for 20 odd years and are as
good as gold to-day; and every silver and
gold certificate in circulation to-day is worth
as much as their face value in gold 10 the
people and would be if there were fonr
times as many aAoat and eyery national
bank note was wiped out of existence. The
U. 5. Treasury can never run low in gold
and silver. Our own country is FURNISHING
millions Of precious metals every year and
the government is Empowered to collect at
Its custom houses as duty on imported goods
800 or more millions in gold every year.
The general public do not want gold and
silver coin in their money transactions.
while their government keeps its notes at
par with coin which is obvious it can read.
lily do.
Ia the face Of these plain sommon sense
business facts we find the Secretary of the
Treasury in his last report recommending
hat the 300 odd millions of g,eenback
which have been in circulation for 20 wears
'r more, be Withdrawn and DESTROYED and i
'onds issued to take the place. How take
he place Of the greenbacks? Well. in this
vay' and IFS round about way too. The
'onds TO draw 2! per cent interest and be
sold TO bankers who would deposit them
Nth the treasurer and Uni ell States govern.
nent print the face value of those deposited
'onds, OF national bank notes and give them
the bankers 10 do business with-to loan
their customers. In plain, honest English
he Secretary asked that the bankers sbouli
e paid 2! per cent by the government. on
he capital they were using in their private
BUSINESS. If Secretary of the Treasury
hould propose to Congress that every farmer
hould be paid 81 per cent on the value Of
lis farm from the U. s. Treasury the whole
'atiOn would rise and say he was crazy. |