The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1891-02-18
tie. 1857. COZ, SIS. SO

Five p. c. reserve, n. b.. $3.50, ,354. 80
Gold certificates, ........... It's, 73l ,499. w
Silver certificates, ......... 335, ,S66, S74. 0O
Currency certificates, ...... 1850. 10000
Debt, due and unpaid, .... 4,l03. .391. 90
Disbursing officers balances, 30,925, ,03O 20
SundrieS, ieS,.... 12,433, 291.5
aggregate, S676, l26, 44o.2f
Total liabilities exceed available money by
S3S. 52S, S64. "a, though the bullion and una
assets of $40, $50, 545 Is, which the treasurer
Saally figures down to net balance in the
treasury of s26, 770, ,Ss3.72.
EocUs PocUs BOOKKEEPING.
The assets are swollen by the addition Of
uoissued certificates of all sorts to the
amount of SIG, ,953, 1920, which assets, how
ever, if assets at all, are in no sense worth
more than so much paper until they have
been issued for their face value of gold, sill
yer or currency, as the case may be. Said
certificates are also included in the iabili-
ties, thus perpetrating double fraud upon
she public by making the people believe Q)
that the treasury assets are greater than they
really are, and (2) that the circulation OF GER
tlfcates is larger than it is.
TIE MONEY VOLUME
OF the United States is less than 81, SOC, ,000,-
o9o.00. But assuming it to be that much,
and counting the population at s64. .0C0, 900,
the per capita is only S25. Small as that per
eSpita is. it is much larger than the per
capita in actual circulation; for if we add
together the sums locked up (D in federal,
state, territorial, district, city and county
treasures; ~ in banks of all kinds; (3) in
5 benevolent institutions, railroad and other
corporate agencies; az in private boards of
every kind,--it will be found, no doubt,
that the per capita in active circulation is
hardly as much as $40 apiece for our 81, 000,-
900 of inhabitants. boarding is as much
characteristic of man as spending is, or
speculation, or commerce; and in estimating
the necessary amount for any given people,
allowance must be made for the boarding
propensity.
:. The French are the only people whose sta
tistics on this subject furnish any reliable
facts for the instruction Of the world; and
experience. our own or others, is the only
lamp by which to guide our feet The his
tory of France proves Q) that q civilized
and commercial people, with good facilities
for intercourse and trade, will need from SIS
TO S1o0 per capita gold, ] silver, notes;
and ~ that about one-half of the gold and
silver will be boarded by people of small
means, leaving in circulation nearly equal
amounts of bills and Of gold and silver.
The French are, perhaps, the best-to-do
people on the face Of the earth. How else
could they, after having been plundered by
Ehe German armies, have paid that tribute
of billion or more of dollars? How else
could the peasants of France have taken the
recent large French loan? How does it hap
pen that they are SO well-to-do? One potent
cause is that they have monetary circula-
ton equal to their needs. With popula-
ipn not much more than two-thirds Of ours,
t1eir money volume-even now, after having
besn so mercilessly robbed by Germany en-
" few years ago-is from two to three
+ mes as much as ours.
According to recent report of the dlrec-
Tor of our mint. the following table shows
the coined gold and silver of the world:
Gold. Silver.
India l. China S1,700, 900, 900
$ e0oOO00O0 France 700,0O0,0OO
COO, 900 United States $4,000
55o,o0O,C00 England lUO,0O0,OC0
5c0,O00,000 Germany 145,000,0O0
40,000,000 Austria 100000
LOSS. 100000 All others 503, 100000
3,727, 100000 The World 3,S0O,000,O00
Now where do we find the greatest inc
quality of condition among the people? the
greatest poverty and the greatest wealth In
z the circulation is less than three dollars per
capita; then in Austria where the per capita
as small; then in Germany; then IN England;
s.>S
the people are, in the main, better of than
anywhere else in the world, the mass Of the
people being better off than eistwhere-the
wealth of the country not concentrating in
few hands as in the United States, England,
Germany, Austria and elsewhere, where
money is scarce and dear whilst the people
ABUNDANT and cheap.
CHEAP MONEY.
A great deal Of nonsense has been recently
uttered, ignorantly or knavishly. about silver
As being cheap money. What can be cheaper,
iatrinsically, than notes, bills and checks :?
Which has the greater intrinsic value, ST.
00O,OO0 cheek, 6 $40, 900 treasury note, @ SlOO
gold certificate, a 81 silver certificate, or q
beggarly 10 center? Has any one Of them
The least appreciable intrinsic money value?
It would be impossible to estimate such in
srinsic value. How is it possible for silver
to become such cheap money? Where IN
history can an example be found, unless
when and where silver became rs plentiful
as stones in the valley? Wasn'tgold once 3
very cheap money in Spain? Suppose dia-
nonds should become as plentiful as the
pebbles on the seashore; they would then
become very cheap. Money-gold, or silver,
or paper-beeomes cheap when it IS IN great
excess of all the demands of the people
not otherwise 1t is very dear. when scarce;
and scarcity of money tends to reduce the
mass of the people to slavery.
The people of the United Stetes numoe
$1,000, ,6O0. They need at least s75 per cap
ita. That calls for money volume Of 81
100000, 900, instead of our beggggarly 81 ,60O,-
100000 or less. Of that amount 81, son, ,OO0,-
600 should be gold; 81, 100000 silver;
s1,6OO,O0O.OO0 notes. Should all our gold
and silver product be coined as fast as 1t IS
mined, it will take from 80 to $50 years to
coin enough gold and silver to meet the de-
nands. Every year adds 1000, 900 to our
oSIitiono1 n1rnNlo-