The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-12-06
n @.:@Q,UE,ST TON.
The Real Per Capita Circulation of Money
in the United States is
1T. =. 4.07!

100000 of the total that cannot be
accounted for. "This is big cut in
to $3.50, sos. The same authority
shows that on January /, 1898. tile
treasury claimed to hold 324,773,677
Of gold; but deducting gold certi6-
Gates issued against it "omly about one
hundred millions can be foundr' The
same writer continues, -"not one
individual in every hundred receives
in ordinary business transactions Il
gold certificate or gold coin once in
twelve months"
Mr.. Dunning than proceeds to
show that the entire silver coinage
Of country wears out in thirty
years. Jim Sherman confirms this.
The treasury claims that every silver
dollar coined since 1878 is still in cir
culatiOn and eight million dollars be-
sides; and that no part Of the sub
sidiary silver coin has disappeared:
although the government has been
that there are $5,9l6, 59O.47 of frac-
tiOnal currency,-paper "halfs" and
quarters" and ten cent pieces, float
ing around while every body knows
that not one has been seen,-except
as curiosity,-for twenty years.
What has become Of it? Lost, sunk
in seas and rivers, burned up in no.
tells, worn out. And congress de-
clared June 81, 1879, that $8.375 1884
more had been lost or destroyed.
Fourteen millions in all out of 1885,
OOO,OO issued vanished. And is not
the same thing true Of the silver and
gold coin? And yet this fraudulent
government of ours, to help the
plutocrats, claims that the people
have got it all!
But this isn't the worst Of it. The
law requires the national banks to
hold a large amount of money in re-
serve for the protection of their de-
pOsitors. This is not circulating
am ng the people. 1t cannot be in
two places at once. How much is it?
1t is 1888, IL, 465. Then the state
banks and savings banks also have
to keep a reserve of from ten to
twenty-five per cent. Mr.. Dunning
estimates this, Cat ten per cent?, as
$233, 427, PAP. Then there are 3,647
banks that have not reported. Place
the reserve says Mr.. Dunning at $780,
900 each, and it gives $50, 47O, 600; or a
grand total of bank reserves of
$500, zoos, 7O7, which must be deducted
from the 81 1857 ,55l .e35 of total, NOM
inal circulation, leaving but $751;
543, 1873 for the use Of the people!!!
Why did not our lying servants at
Washington tell us all this when
they took the trouble to figure up
the per capita circulation at $24.02:
How particular they were about
those two cents!
Here are Mr.. Cummings concluding
figures as to the real currency circu-
lation, of the United States:
Amount GU standing as per
treasurer Atement..... $l,666,O04, 4O.47
Amounts TO be deuucteu:
coin. -. 5000. 600. 10000
Loss in silver
coin. ....... 2O,OoO,OOOOO
currency .... :. 5O,OOO,0OO0O
Loss in fraction
! al currency 6016.60OOO
HELD as reserves
total COB OOs, 7O7.OO
| Held in U.
| Treasury.... 337, 144.OS9.36
| Consent abroad 61.6O5, $500
Bullion counted
rs currency... 16.430.5O4.W $780, O4.57S.3 80
| In circulation. $310, SSO, 842. IL
Divide this among 81, III 1886 people
AND IT GIVES US HE GRAND
TOTAL OF
$4.07 per Capita!
And now the scOundrels want to