Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1893-08-08

= NA2 ANN LNNAAAANHI ~ -
gold in circulation as $500,
OF this amount S115, 100000 was
in the treasury and Sl07, 900
supposed to be in the banks and
circulating among the people. As
the banks Of all kinds contain
S170,OO0,000, the amount of $751;
is the quantity the secre-
tary Of the treasury guesses is cir
culating among the people. Now
every man in America who can
think at oil, knows that there is
very little gold circulating among
the people. Practically it is in
the banks end treasury. Still the
secretary estimates that there is a
good deal more among the people
than in the banks. This guess of
the amount in circulation is in
cluded in the guess that there are
81, 203, 100000 in circulation in
the United States outside of the
treasury.
To get at the amount, the vol
ume of legal tenders is estimated
as the difference between the legal
tenders issued from the treasury
and the quantity redeemed since
their first issue in 1862. No al
lowance is made for losses by fire
or otherwise during these 81 years.
The same is true as to silver and
gold certificates, coin, treasury
notes, currency certificates and
national bank currency. Every
one knows that enormous quanti-
ties of these different kinds Of
money have been lost by fire or
otherwise, exported to other coun-
tries and melted up as bullion, or
buried forever from sight. and
Withdrawn from circulation. No
one knows the exact amount so
Withdrawn. 1t can be inferred
from these facts; OF the fraction
al currency issued during the war
Of the rebellion, S6,916,OOO or 20
per cent. was never presented for
redemption. OF the $50,000,00O
compound interest notes issued in
1864 and Withdrawn Immediately,
S185, $50 was never presented for
redemption. OF the $90,000,00C
demand notes issued in 1862 and 9
and Immediately withdrawn from
circulation, $56,445 was never pre-.
scented for redemption. Still these
things are carried on the books o.
the U. S. treasury as being in cir
culation while all the world know
they are not. They are all lost t,
humanity. So, too, we get from
European papers the statemen
that among the gold lately bough
by the syndicate of bankers VIII
purchased for Austria, there
American gold coin to the valu
of S11,850,000. And this amour
, is said by the U. S. treasury to b
in circulation among the peopl
here. So, too, we know that ever
money changer in Europe ca
, supply American gold coin to cui
toners on demand. And all of
is reported by the'U. S. treasure
as in circulation in this countr,
The treasury report also show
silver and gold certificates, greer
: backs, national bank notes an
other forms of paper none
. amounting to about $l,000,000,0(
as outstanding, No deduction
made anywhere for losses. FC
|, illustration there are supposed
- be S346,000,0 900 of greenbacks
circulation. There are only SOL
- 100000 In the banks, and evel
; one knows that the most of the
~ are in the banks. Now in its re
q ular monthly gold bug estima
of money per capita in circulate
all these lost sums are calculate
as in circulation, as we'll as Il
d stuff locked up in the u. S. trea
o ury. Again the populationo of Isl
is taken as the basis for calculG
ing the per capita circulatio
while the population has increas,
n not less than 5000, 900 since the
The June treasury report shol
II that there is 81 ,293, 100000 in ci
IS lation, counting all unknown, lo
p and destroyed money, and &
wild guess of gold coin. II is
i exaggerated estimate to say th
there are 81 100000 in Il
United States outside of the trea
10 ury, which is equal to Sl4.70
ID each inhabitant, estimating Z
u population at 100000. L.