The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-05-23
GOLD BASIS. CAN WE COME Tn
sIT2

According to figures compiled from
"'official sources" by the World Al
manac for 1898, the total supply Of
money was, Jan. 1, 1898, as follows:
IN THE WORLD.
Gold stock (coin and bullion) .......S SO ,63?.96Wo
Silver stock .,...... 1866, 1UQ(m
Paper money ........... -. ........ 2,284, NN
IOtaI...........,.. ...'.''''''''' 1856 I@g8, U0
IN THE UNITED STATES.
Gold stock, coin and buIIion).......$ 65tlOom
Silver stock " ........ 675,CU,lm
Paper money $3.50. ......,,'.,.....' 4O5I00,WJ
Total. ................ ..........$ 1,634,OOCm
The gold stock has been reduced since Jan,
as per official report May l, TO-. S6l3,O42Sa
Which shows a net falling off Off,. 30,95Ll2I
Which is, in round numbers, s million Der
month.
TOTAL COINAGE OF U MINIS.
Since the organization of minis
the total coinage of gold ana silver IN
to Jan. 1, 1898, as per report Of Direc.
tor of the Mint for 1892, has been as
follows:
Gold. .............. .............. $1,596O aIB
Silver. 639c6,EI
The above report puts the amount Of
GOLD AND SILVER COIN IN THE COUNTRY
Jan 1, 1898, as follows:
Gold........... .......... ......,.....S 5C7,E6l,3N
Total...... ..".......... $1,06O, 84 $50
Now let us take these figures as the
basis of
SOME OBSERVATIONS.
We find the total coinage of gold. e. .$I,596O &LB
And the present supply Only........ 567, 20 $50
Showing amt gone from US to be-. 81, OPS F,73
So then it appears that the amount
of gold coin that has disappeared from
our country is equal to nearly one,
third the whole worlds present supply
of gold, both coin and bullion, and we
see that gold as a circulating medium
wilInotstay with us, hence, for local Or
home use, will not answer our purposes
as money. Now let's examine the fig,
ures on silver and see what we can
gather from them. We find total coin
age up to Jan. l, 1898. .................. 1861, 9641
Silver coin now in the CO untry........ 492, 903y2j3
And we have unaccounted for. ..... SIn O395
We find by reference to the reports
that in the past eight years there has
been $50, 512, 258 in silver coins melted
down for recOinage and for use in the
arts, and the $35, 965, 924 trade dollars,
all of which is included in the total
coinage, should be deducted this would
reduce the III millions to 81 millions,
And if you could follow it on back to
the first minting the recoinage would
almost if not quite balance these fig
ures. Hence it appears that as between
silver and gold, as a circulating home
money, silver is much preferable. The
figures show that silver as the chief
implement of industry in the produc.
ton of the enormous wealth which
marks the greatness of this country,
actually wears itself out going about
doing good among the farmers, the mer
chants and all classes, trades and pro
fessions. While gold leaves the mine,
finds it's way to the mint and receives
the official stamp, which seems to be
it's passport to parts unknown, 'she
takes to herself wings and disappears
never to return" The swift wings Of
the British Cunarder bears her away
to the vaults of the Rothschilds to re-
turn never, no never Gold has never
circulated among Jul people and it
never will. Silver has made a thou
sand happy hearts to every one made
happy by gold. Do we need to come
down to a gold basis money! Can we
do it3 Why, you would have to add
20 cents to every dollars worth of gold
stock in this country to even take up
the national bank stock at par. The
gold stock In this country would fall
81 million short of paying the interest
bearing debt of the country to-day
Leaving off the gold certificates the
gold stock in the United States would
require an addition Of so cents to each
dollars worth to take up the paper
money in the country, dollar for dol.
lar, Plutocracy says we must come
to a gold basis; the present national
administration says so too. But will
we? Can we? How? When9 And
who will reap the benefit? Voter,
what do you think of it?
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