The farmers' union. (Memphis, Mo.) 1891-1895, 1894-10-11
FACTS AND FIGURES.
GRIMES OF THE OLD PARTIES
AGAINST THE PEOPLE.
Financial Policy Will as Sure
~ bring Calamity and Revolution AZ
the sun Sf,ines-I.ies Concerning Over
production How Popuii,ts Grow.
4 bit of l'rOul,pcy.

or 20 grams Of pure gold. The alloy
used III gold coins is composed of sill
Yer and copper, the alloy in silver is
copper only. Both gold and silver are
One.tenti alloy, or nine-tcntils pare
metal when coined.
The standard silver dollar, contains
Az. grains of silver, nine-tenths pure,
or Bill grains of pure. silver. Standard
silver or standard gold is nine-tenths
pure or One-tenth alloy.
Gold is legal tender in the pay
ment of debt in any amount. Silver
dollars are not legal tender in any
amount, and are now without recogni-
ton of law as 4 money
Free coinage of silver was stopped
in 1873 by the passage of a law drop.
ping the silver dollar from the mint
age. BY an act of June ~, 1874.
adopting the revised statutes the legal
tender quality of the silver dollar was
taken away.
Subsidiary silver coin, or coins less
than dollar, halves, quarters and
dimes, now being the only subsidiary
coins minted, are a legal tender to the
amount of $40.
The total coinage of full weight and
full legal tender silver dollars from
1892 to 1893 was little over 49,, 900
600, and the total coinage of silver dol
lars to 1915; was $93, OOO, 900. The total
coinage of silver dollars from 1892 up
to December 81, 1893, is $4l9.3322, $50.
The total coinage of gold from 1892
to 1917 was $4,000, 900. This was
prior to the discovery of gold in Cali
fOrnia. The total amount of gold
coined up to Dec |. 1893 is $577, 269.
5l7.
There are nine different varieties or
kinds OF money in circulation, viz:
Colt, silver dollars, subsidiary silver,
golt certificates, paper, silver certi-
ficatcs, treasury notes of 1890, United
States notes or greenbacks, currency
certificates OF 1872 and national bank
notes. This is not counting nick les
and pennies.
The full amount of this money
coined or issued up to Dee. |, 1898,
anh supposed to be in circulation, was
$2,2!6. APO, S43. less $499, 426,553 re-
port I'd III the national treasury. This
shows the circulation in December,
1893. to have been 81 726, 553, 800.
OF this amount the national banks
reported having in reserve Dec. 9.
1898. S5l3.?lO,27O. The cash on hand
in other than national banks ut the
close of ,hc fiscal year 1898, was 900
G4o. This reduces the circulation
down to about 81 zoo, 100000.
In reaching the basis of circulation,
gold coins must be excluded, AS gold
practically. does not circulate. This
requires II deduction of 1915. 269,5
Much of this gold is lost and melted
up in the arts. Not m inconsiderable
portion of it is in foreign countries
As it does not circulate, it should all
be excluded from the circulation of
the circulating money. This leaves
1921. go. 4S3 in circulation
De!:.c: about one-tourth Of this
amount for the money usually kept
idle 10y ml>ers. money loanerS, school
funds. state and county reserve funds,
and various other reserve funds. and
then divide the balance be ween Do
100000 people, and the true per
capita can he arrived at, which will be
found to be about 50.
In lS6I ut the close of the war.
there were. in round numbers. -. luO.-
100000 III circulation. In August
Secretary Mccullough began the con-
traction ut the currency. Not only
was tins currency contracted by being
spread out all over the South immedi-
atelv following the close of the war,
but Secretary Mccullough did not
stop until $l.4OO. OUo. 900 was called in |
and destroyed within the space of four
years following.
John \. Logan said, tsee appendix
to Congressional Record. page 1879, for |
the Year 1874. The currency has |
beer contracted $l.oiS. lG'.1S4. and |
he even fell far short of the amount |
actually withdrawn from circula ion.
Ii Is not surprising that :: panic set
in during 1873 and that universal dis |
tress prevailed throughout the land.
Under the Sherman law there were
purchased by the Government from |
August l3. 1890. to November >. 1898. |
when the law was repealed. 167 .614, $40 |
ounces of pure silver. at a cost of |
$l33 n3n.Ao. OF this silver there is |
reported to have been coined. no 10 |
December ;. 1898. $50 .0S7 80. The |
difference III the cost of this silver |
coined and the dollars 1t would make |
if coined is S6.9T OO6. There was !
left on hand. not coined Il, the last |
date given l4O. 500 100 ounces of sill |
yer. which. if coined. would make .
SlSi,9l4.SlO. This silver Mr.. Carlisle |
continues in the Treasury along with |
over son. OOO. 900 silver dollars. osten- |
siblv IL redeem tn. silver certificates. !
Yet he redeems these notes III gold if |
demanded. because the silver dollar is |
no, legal tender. and is now not rec |
ognized as money by any law on the !,
statutes of the nation. OF these silver |
dollars outstanding and in circulation.
Mr.. Carlisle. as shown by his monthly |
reports. has called in aud retained in |
the Treasury IN average of one million |
per month since last January, or in the |
six mcaths, $6.77S,64S.