Daily independent. [volume] (Elko, Nev.) 188?-1915, 1892-08-09
CONTINUED from End page.]

J SohoS nbu OAo1yodE oEIlhCtAUcb 6QOulO
be included in the aggregate the
whole would amount to considerable
more than three-fifths of the entire
national debt, or to be sl,7o1,ooo,ooo.
1t will be noted that Mr.. Knox does
not include in this statement the
$146, 100000 of national bank notes
then in circulation, and have. the re-
port of Mr.. Mccullough to prove that.
Nor does it include SJ9,ooo,ooo of
the State bank notes still in circula.
ton, nor does it include S1oo, 100000
or more in specie which was used to
pay the interest on the public debt,
and you add these three items to the
other and it. gives you over $4,000
100000 at the time of the close of the
war ard every dollar of it was in the
hands Of the people. (Applause.)
ISSUED IN LIEU OF BONDS.
That would make $50 per capita
25,oeo,ooo Of people. (Applause.) But,
says the critic, that included $780,
100000 Of 7-3o bonds. 1t included
7:3o Treasury notes and the law ex-
pressly sa, 8 in black and white that
they were issued in lieu of bonds.
(Applause.), Not only that, but l
have Secretary McCullough's report
here in which no says that large guam
titles Of them were in circulation as
money, all of which went to swell the
circulating medium Of the country.
That is the report Of the t3ecretary to
Congress, the first one after the war
closed. They drew 7 3-lo interest and
the bankers got hold of them as soon
as they could and used them in their
large transactions and for bank re-
serves. But let US suppose for a
moment that you should exclude the
seven thirties.
That wouldstill leave 81 Zoe, 200, 900
of currency circulating among 25,ooo,-
900 OF people, which is $40 per capita.
No wonder that times were good in
the North, that prices were high and
labor employed. What was the real
condition l quote here from Secretary
Mccullough on page 1873: 1.-The peo-
PIE are now comparatively free from
deot. There is an immense volume of
money in circulation" says Mr.. Nc
Cullough December 4, 1865. Well,
Mr.. Mccullough, were they going in
to deDt or paying cash as they
wont? On page 1876: at is undoubl-
edly true that trade is now carried on
now much larger for cash than was
ever the case previous to 1861, and
, there Is much larger proper demand
for money than there would be if
! trade Was carried on for credit, as was
done prior to the commencement OF
the war"
! No WONDER PRICES WERE HIGH.
/. Out Of the mouths of two or three
witnesses shall the truth be estab-
lished. Knox is one witness, McCul-
Tough the second and ain the third.
., / do like to slay them with their
own jaw bone applause and laugh
ter.) No wonder prices were high.
Want to give you my personal exper-
i1nce before proceed to the next
point. have learned, and l wonder
it somebody in Nevada has not had
the same experience, that as my
family increased in numbers my OK
peuses Increased.
We have a parallel in this country
since The war closed. There we're
added to Uncle Sans money using
population in o single day 1o,ooo,ooo
of human beings-1o, 900, 900 of Uncle
Sans prodigal children came home
in a day without penny in their
pockets and said to their father: Let