The midland journal. (Rising Sun, Md.) 1885-1947, 1891-03-27
Some Startling Figures.

HSC%-@O $3.50 e@@AA . = . - -,
N. A. Dunning has written small pam
phlet the title of which is 'sThe Power of
Money TO Cypress" Mr.. Dunning presents
statistics Of finance in his pamphlet which
should be studied by every farmer, trades
man and business person in the country. In
the years from 1866 10 1899 inclusive are
catalogued the business failures amounting
to 1871 1882, aggregating in amount $3,9l9,-
394,S25.
In 1866 the amount of circulating money
in the country was 81 1868. 400 .2l6, which
amount per capita for population at that
time was $52.01. From this time the
amount of circulation was steadily cnrtailed.
The two following years show contraction
Of Thousand million, with an increase ir
population OF a million and quarter.
The figures steadily increase which show
the popustion, and as rapidly decrease that
show the amount of money in use. In 1876,
ten years later the population had increased
.
TO forty-six and quarter millions, while
the money in circulation had shrunk to-
1920, 3l6 $40, per capita sum of $3.50.
Ten years later 1886. the population had
increased TO over So millions, while the
money in circulation was 40 and one half
million dollars, per capita circulation of
$7.13 In 1889 population had increased 10
sixty one and three-fourth millions and the
circulating medium had fallen TO $780,
999, 1882, per capita of only $i.97. These
figures do not agree with the Treasurers'
reports, but the TIeasurers acknowledge
their reports are not trustworthy from var
ious canses. Mr.. Dunning says: ''These
tables will stand the most searching critic
cism, and their truthfulness can he success
fully defended" As natural and logical
result the author gives the tables Of business
failures for the same years, commencing
with those of 1865, which numbered $40
with liabilities Of upwards Of seventeen and
half million dollars. The failures steadily
increase with the corresponding decrease in
money in circulation. Ten years later
there were 7,740 failures with liabilities
amounting to two hundred and one millions.
Ten years later, in 1885, the failures Of
business houses numbered 1921, with
liabilities aggregating upwards of two hun.
dred sixty.seven and a.quarter millions. To
1889 the failures in business were 1927,
with. liabilities of three hundred and twelve
and a-half millions. These figures are elo-
gnent with the ruin and distress which the
internal contraction theory both the political
parties, under the direction of the gold ring
Of this country and Europe, have pursued
and are TO this day contending for. (See
Cleveland's silver letter and the action of
the last Congress.) This more than thirty
nine hundred millions Of loss to the business
people Of the country in 25 years, was not
all a loss of property. Out of this ruin
sprang our crop of millionaires, while the
hundred thousand industrious business men
went down to the humble seryitude of wage
earners, many OF them under the eye OF
their robber masters. It is estimated by
some of the most careful statistcians that
the English debt holders draw at least one
hundred and fifty millions of dollarsi n
interest annually from this country; ard
whatever portion Of this vast sam is not
paid in farm products from this country,
beaten down TO the lowest prices possible
by their free manipulating of our silver, is
paid in quiet shipments Of gold about
which there is so much foolish talk in orr
eastern daily papers, and our equally fool
ish, not TO say, criminal party politicians.
Let us glance at the public debt which is
tabulated by Our author.
10 1856 the debt amounted to so, 7S3..
100000. Up 10 June 1890 we lad paid Of
principal on the debt 81 500, 665 ,3l2, and
as interest on same $3.50, 1928 ,O49, and a
further sum OF SIS $4,000 as premiums on
bonds purchased, amounting in all to
$4.19S.9Sl 1851. And yet the debt had
actually increased if measured by labor
and the products Of labor, which is the true
way to measure debt to comprehend its
weight and significance.
In 1856 the debt was worth ,OO7 900, 900
bushels of wheat. In 1890 that portion Of
the debt remaining unpaid would buy
1917, 222, 44S bushels of wheat estimated by
the prices at the two periods. Thus after
paying on the debt upwards of four billions
OF dollars the part remaining unpsid is
worth nine hundred and sixty-fye and a
quarter million bushels Of wheat, more than
the whole debt when created, and these
results have all been caused by bad legisla-
lion for which both parties are responsible,
neither ever having raised voice against il.