Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1891-08-05

AOTWdIN, WIFI unDEOh0n DY QlS-
sension, with strength unimpaired by |
jealousy, to ultimate and certain sue |
cesS--National Economist
THE SUPPLY OF MONEY.
A Financial journal Sees Danger Ahead,
But Wants to Trust to the Same Old |
Worn Out Device Called National Banks. |
The Financial Record in discussing
the financial situation says:
For years past the Daily Financial
News and the Financial Record have
been stating that the great need of this
country, and in fact the world, was an
increase in the volume of the currency,
and that unless the same was secured
that there would be depression and
danger of panics. The Denver Mining
Industry has taken the pains to pre-
pare the following statement of the
worlds money supply. The quantity
of money in the world is Appropriated
as follows:
Gold. So, 800 900 200
Silver........ 2500, 600 900
Total. $40, O0O, 600. 900
or SO for each inhabitant of the world.
The increase Of population is one per
cent. per annum, and to make the in
crease of money keep pace with the
population would require an annual adj
dition of S11O, 0O0, 900. The worlds pro-
duction of gold is diminishing at the
rate of So, 900, 600 per annum, being now
about 800, 900, 900, of which the con-
sumption in the arts and sciences is
about 100000 The money needed
for business depends upon the activities
of a nation. The relative per cent of
money needed by Americans Is about
80 per cent in America, % per cent. in
Great Britain and So per cent In Europe
generally, so it Is seen that the United
States needs about three times the
amount of money to do business on
what is required in Europe. The vol
ume of business is estimated at
from $50, 100000 to $500, 900, 900
daily, the real estate transfers
$40, 100000, the payment of wages
$50, 600, 900 more, so it is at once seen
that the gold and silver is utterly mad
equate to do the business of the world,
even II coined to the full extent of its
production. This h supplemented by
more than 50 per cent of paper money,
by many hundreds per cent in checks,
notes, drafts and commercial paper
generally, which are only forms Of
credit or representatives of money
somewhere on deposit Out of the
SO, 800, 900, 600 Of gold, the United States
has but $500, 900, 900 In coinage, and If
we had gold coinage alone we would
have only about $500, 600, 900 to do a
daily business of $3.50, 900, 900. The APP
palling fact Is that there is not enough
gold and silver together, but with all
the make-shifts of commercial paper 80
per cent of the business must be done
on credit.
"Most of people believe that the sup
ply of money is practically limitless,
but it is not so, as made apparent by
the above figures In fact, it is in po-
sition that 1t can be converted more
readily to-day than most of our great
products If the Rothschilds, the
Bleichroders, the duke of Westminster,
the count of Paris, Baron Hirsch, the
Vanderbilts, the Astors, Jay Gould and
about a dozen more of the wealthy
men of the world were to convert their
properties into money, at the present
range of values, they would absorb the
entire amount issued or coined by all
the countries of the world
UNLESS there is some mode taken
for extending the currency, the value
of the coined money must increase, and
that will be measured by the deprecia-
ton OF securities and properties In
other words, an entire reimbursement of
values will be brought about In this
country the trouble, the annoyance and
the hardships incidental thereto, could
. | IA laroralry oh fal H.
the national banking system. This
would provide safe, sound money is
sue by the people, and without cost or
risk to the government"
1t will pay to carefully study the
above editorial There is a vast fund
of financial information in it. 1t will
be observed that this paper admits what
the Farmers Alliance has long claimed,
to be the financial situation. When it
comes to the remedy, however, the
Financial Record would perpetuate the
very same financial system that pro-
duced the present crisis This gives
the whole thing away, and shows that
1T was written to perpetuate the life of
a system that has enslaved the people.
If the Financial Record had offered any
plan to take the people from under the
domination of the Insurer, then that pa
per could expect and would receive the
plaudits of the oppressed people that it
80 graphically describes. But the
snake is bound to show its head What
pity that men, whom the people be-
lieve have common sense, cannot get
through their heads system Of finance
that eliminates the domination of the
usurer and SPECTATOR, and enthrones
the producers of all wealth. Every
day furnishes additional testimony that
they are not going to do 1t and if the
people get relief, they will be forced to
pound such newspapers, and about
nineteen-twentieths of the political
bosses of this country. into sta4a of