The farmers' union. (Memphis, Mo.) 1891-1895, 1891-09-03
WASHINGTON LETTER
Washington, D. C., Sept. !. 81.

currency III actual existence is impos-
sibr, owing to the uncertainty of
knowing just how much has been lost,
destroyed, or taken from the country.
Hence Tie only result is an estimate.
based upon statistics. comparisons
fsiih 11o,, H;.Sis:2ss srtfsc. The meth,
Cd made Use OF ut the treasury de
partmtnt to ascertain the volume of
currency i'll circulation is, to add to
the amount of all the coin lalstntl, all
the paper money tina, HIS been Issued.
and from this sum sub;rac, the
amount held in the treasury and as
sumo lI:at Ike balance is in circulA-
ton alnong the people, The inaccu-
racy Of such Il onles:ln;itsa IS only
clHalicl hy lis iES;si.ness. The rt
port Of the United States treasurer is
IS follows:
I lH, a. Outstanding. IN src.%:ry. II Ia,il f,-
Cold Gso 4.:,', 90 is,2,...:o.4 4:E~H5,o;l"l
-:ircr 4-o@ls "a3uo 14.n..,~.,@2 ~. .,: n, Is
\ o;c:; !ls5a. 81 ;f+0> u 30 IS. =,
ToI ,ti oti l04. .1>54 .,-5.:,1 is, ,,5l .r,i II
4irrr is IN authoritative statement
of the currency outstanding; not iii
circulation, remember. but tue amount
that has been made be the fiat of the
government either at the mint or at
the bureau Of printing ami engraving.
This amount is given 1T 81 ,tG6 OIL
-i20. Il and is tie basis of my calcll-
lat;nus The difference between the
1uctilod adopted bs the Secretary Of
the Treasury to ascertain the amount
Of currency in circulation and the one
use is this: He takes the whole
amount outstanding, 81 ,G66, 0oi, 800
II. and deductS from, it the amount
in the United States treasury, S2IS-
3I3. S5.36 and assumes that the diff
ference 1897 SOL $50. II is in circu-
lagst7n among the people. | shall
AXE the amount given As outstanding
81 .GsG oDl. TO IL. and attempt to 10
| cate it. whether N the United State:
Treasaxy. as reserve III banks. lost OF
destroyed, or among TIT people ant
used as Il circulating medium.
In this amount is counted $40, 43'
So n gold. asa silver bullion. which
| cannot be counted as currency ant
| should he deducted In Directo
Eimha!'5 report on the production o
precious metals he concludes care
| ful research for the location Of Gol.
coin :,s follows:
In the above it will be seen tia
we alot So. 900. 900 to circulation
and vet even with that deducted
there are 5tIl left 500. 21n.6S2 TN
accounted. fo:.
From tI.n:;e facts the conclusio,
is unavoidable. that either there ar
i;:-Cav at IeaS. 500. 600. 900 in gol'
boarded by the people Of the Inite'
states, OF else that the government
mint figures are cNtrcmp!v errOnco GUS.
Here is Il frank admission tina
more than 800. $50, 600 of gold col
cannot b. a-colnted fYr. 1t ADMIT
hat il. is ,.:,t IL lie treasury, or til
nAGl,s. "nl is not seen III circulation
.;li"ng ii,.' people.
T!l2 ar,ount Of silver in the ennl
try is estimated ut >ss.3s:,,., .: 22.:,," /
standard dollars and SO. 6ttl r3., i
subsidiary coin, or a total OF 81"
iO4. lO6 III silver coin. The entil
amount Of silver coinage since T.
foundation OF tie ga;vrnI cnt Is
SILVER t.t!tri ~ l. 'h'j.>>'
SILVER o,l..-l.F ,lcisr- .... .... l42 80 / I.
Silver ona-u.:agtrr dollars ..-.-... ;,s-fl -!
. Silver t.vnnt.-can, nj, ccs ...... :ti.Goa,
, Silver dimes Observation-Disclosures. 1i,.,i...,i;.
Silver olic-ti.,lf si..i-.- +a-1 2i9
Silver ihrcC.-cent pieces .......... l2-4 %
Totu, s5;,l - -, 81
This does nlt include the traf
dollar COINAGE rs that has been cal
, ed in. Guvt Tnnent statistics al; /
, to believe tj!,,t every silver doll:
coined since 1873 still remains
, this country, either iii ,,sc ianl,
, treasures or "morg the people. "
, are also asked TO believe that al Il
su',sIeiias ;. 4,cin that has been mrnta
6 since 1878, a,sd SIS 4io,tIi. u GO
siderable portion of which WAS coint
preTious to the war, is still in use
i.a,sGEeHcy.
:. The largest amount of legal tc
d ders outstanding at any one time w
: s44933S, 9o2 on Juneao. 1as4 Fro
the date of their first issue, Octo5e
, 1862. there has been issued and I
Issued - 253 ,997 sos. The act
. May 81, 1873, forbade the futhcr Il
struction of legal tenders. At tn
time according to the books Of Il
Il treasury, 81 1861 ,016 WAS outst,n
t. ing Since that date tie goyernp y
has cl.,leI this whole amount
is statement Of the volume of &,
;; fenoy> The largest issue Of nation
ban k cUBenu, ~wi.s i'll 5scccn.b'
1873 when it amounted to $3Il -
n 2o5. Since 1868, when the syste
!. went into operation, there has i.e'
81 1862 .353 100 issues and REISSUES
.. h 5 currency, and thsss was g