The advocate and Topeka tribune., 1892-09-21

u bAnBAG lAA0 w ~EPV" ~~P~"~S~~~Np
not change his statements or results. !
followed hls general formula exactly,
cutting of one single redundancy.
I consider GEN. Logan very high au-
thorlty on the republican side, and will
now reproduce his tables Of 1855 and
1888, with his arguments before and at-
tar them, and his table of 1873, con-
Structed by him from the official reports
cited by him.
On page 1Sl, appendix to the Congress
sSon0E Record Of 1874, Gen. Logan says;
But there Is one very material fact in this con.
necfi0n which senators appear TO have entirely
overl0Oked, They seem 70 forget that while our
iasueg were largest In amount, they nad no CIR
culatiOn worth mentioning IN the sOutll, DuI wsae
C0nfined TO the north and west; Duo since thaC
daV n, 600 600 people have Beel added 70 tne
number TO be supplied, and an area equal LO an
empire In extent. In comparing our cOnuIuOI
and wants before the war with our cOndlLlOn 1nu
wants now, they forget That 4OOOUO Saves Sa.ao @Ve
been made free and are now learning the lessons
Of gelf-suppOTt and business lie. These, Sr, are
no ANAL Items 10 the account ana CnOse VINO
talk 80 fllppantly Ia regard 70 senator's VINO arc
guided BY facts would do well TO consider tneIn
znd when they denOunco our currency I'D sucn
nnyne neaanTad terms, they would do well TO remen-
Der that lt has stood successfully test thaC no
other papeF currency has ever undergone WIN
the whole amount nearly double WnaG ~ Ii ~
present. confined almost exelualVelV 70 Cne
northern states; and, while an unprecedented
INTERNAL war was RAGING the gold brokers OF New
York were plying all their arts against ~ Wnen
tha war closed and the wall OF separation was
withdrawn, aud the wants Of q nation, increased
In numbers nearly One-thlEd, and an area nearly
One-haH doubled In activity ana operators AZ
Ia he supplied with medium OF exchange, jus.
then we commence reduction IN tne volume OF
carr currency and when we take Into consider
RtlOn the amount In circulation In 1865 ana 1860
and the amount In circulation now, IL lS no Won
der that the people look upon this attempt az
Rtill further contraction as something alarming;
and. if order TO show the condition the country
mnat bo reduced to II the currency De not In
creased but contracted, will give the following
tables, showing the amount OF currency III clE'
Culati0n In the years 1856 and 1866
1865.
National hank notes outstanding. Sl71, ,321, 900
legal tender and other nOtes...... 69S'9lS,8O0
state bank notes (sstimated).... bS'OOO'OUc
Total $685. 4O,7O9
seyen.thirties Of 1854 and 1885,, sSOOOO,OOC
Total tal..................... S1,758,24O,7O
National hank notes .''..... $3.50, ,25S. s1S
sAato hank notes ...,... 9,748,O2
Legal tender and other noteS...". 6OSS'O,Sz'
Total Ss9s, ,66
BeVen-thirties. ies...................'''' ooU'OVO'VV
Total SLIPS S72. .66
Since which time contraction has gone on un
| I'll fhe whole amount OF currency OF every KIN
now outstanding Is only 142,GO0,OOO. AdG tn
1 82S. .OOOOOO Of reserves since lssnedl MAXIM
| S767, ,OOO, 900, as shown In the following CaDle;
National hank notes. $685., 1881 ,79
slfafo hanir n0teS ..,.., 1855, SO
Legal tender and other notes." 4Oi,oz''zO
Total $74l, l,7S7 81
aavan. .thlrtiaa oIssfandlnR ,,,.. H4,lC
Total .. S742 O72,Ol
Add reServa isglled d........... 25,0OOJOC
Total tal................. s7S7,O72,Ol
Amount Of currency in 1865. ....... S92S, 24O'1(
Amount OF currency In 1S7S.....,..' 1O''VI1Sl
S1si,T7s,7i
Add the Seven-thlrties es.,..........' S2s,72o,Q
To.al contraction. ....... 81, ,Ols, ,167, a
r.N"-.,,.,ot0 tta ,,onnlation NJ the porto