The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1891-09-10

rea9sSs. and raay have some effect in
Correcting the errors and falsehoods SO
persistently circulated on this subject,
I take the liberty of furnishing few
of the material points Of this statement.
It shows, in the first place, that the
entire currency of the country-gold,
silver and paper-amounts to S2,I44,- :
13I ,342, as follows:
Gold Coin Observation-Disclosures. SooZ,Z-I ,ooo
Standard Silver Dollars. 407, ,S15, ,26S
Subsidiary Silver Dollars. 16,99o, ,39O
Gold Certificates .........~ l4o, ,994, ,399
Silver Certi6cates............ 324,2l3,2o9
Treas'y Notes, Act July,'90 6o6,O3o
L. S. Notes; Greenbacks) 346,6S1, ,0l6
Cur'yCertif's, Act June,'72 y, loo, ,COO
National Bank Notes...... III, ,33o, 499
Total S2.144, ,131 ,345
Of this sum there is held il the Treas
ury for reasons I need not stop to eX-
plain, s63S, 900, ,209. The remainder is
in actual circulation among the people,
as follows:
COIQ com Q..-.......-............. T1NO, Ic,'cy
Standard Silver Dollars. oS,o3e,69I !
Subsidiary Silver Dollars. 5S,523, ,66S
Gold Certificates........... lOS,2t3,0I9
Silver Certificates. ...... 3l7,5SS,32l
Treas. Notes, Act July, $50 %, a4S, ,5oo
U. S. Notes, (Greenbacksl 3l1,696, $50
Curry Certifs, Act June,'72 @,4oo, IVY
National Bank Notes, l54,oll,24'
Total. 81, ,506, l3l SO
Counting our population at 81, ,OoO,
as does the Treasury Department IN a
circular lust received, we have per
capita circulation of s23.54, as any one
can easily verify for himself by doing
little 1iguring. But Notwithstanding
these plain and palpable facts, some OF
our Alliance friends will persist, as we
understand they have been doing III
our county during the past week, IN
teaching our over-credulous farmers
the same old falsehoods told them by
the National Economist and Cotton
Plant.
This statement of the Treasury De-
partment also shows that the net in
crease in circulation during the month
of August-August 1st to Septem Der
lst-was S6,10S,32 that IS from 81 ,oOo,-
Sl2 on Ausust lst. to Sl,5O6, Isl, l33 on
1st. Note, too, that OF this
increase 81, 1893, ,935 was in the National
Bank Notes. Yet we VIII continue to
be told that these Banks: these "ene-
mics of the people," are wickedly ana
contracting the currency.
1t shows, too, that the increase in cir
during the year-September
lst, 1890, TO September lst, lS9l-I
to S70,06S, l9l, or over Sl.lO
per capita increase in single year. l
may here note that Senator Buffers
at Prosperity, in estimating
the circulation at only SIS per capita,
seems to have arisen from his confusing
the amount in actual circulation with
the entire amount (sto;k) coined or
Deducting the amount held
in the Treasury from this instead OF
from the entire sum, would about ac-
count for his figures of SIG. and l do
not see how he could have arrived at
hem otherwise; for, Of course he did
not invent them q ld Macune.
Taking, in connection with this last
official statement, another recent state
nent of the Treasury Department Civ
nr the circulation for different years
since 1860, it is seen that the circulation
Der capita is now larger, at least was
he lSt Of last January, than at any |
period in our history. In 1854, |
1t the outbreak OF the war, it was only |
$3.50 per capita. In 1863, at the close
# the war, when We had so much in
lation Of paper money, ard gold and
silver We're both driven out Of circula-
ION, We had a per capita circulation Of
,nly S3O.57. Twenty years later, in
SIS, after we had resumed specie pay
nents, and our finances had got back
O a normal and healthy condition,
nd our credit was second only 10 that
# England, the per capita circulation