Pine Bluff daily graphic., 1895-09-01
CUR COIN AND CURRENCY.
sone Significant Facts Which Free Silver
 ftas Icnnre.

! Sorre Significant Facts N men Tree StAfS4 ties Ignore.
 According to the official statement prepared in the division Of loans and currency of tbe treasury department, the general stock of circulating medi- nm in the country. coined or issued, on the lst inst was g, go. .sss, ,534. Of ! which s4. .61#. 5a8, 7s6 was in circulation. l That is to say. the last-named sum was not in the national treasury The off eial estimate q population en 5ae lss l inst was 76002. .030. 50 that the active i circulation was s23. o6 per capita
 Of the s606. I54. .7os in the treasury | s371, ,542. SIS was in silver dollars, S94,- i 7O2. 557 in gold coin and s75, 33l 389 in green backs Outstanding against these sums. respectively, were s32o. 35Js tts in silver certificates, s4s,Il7.579 n gold certificates. and s56, ,920. 600 in currency l certificates To the extent of the to- tsl of the three sums last given, CT i s425. .3Q2. .697, the active circulation IS incapable of expansion by putting money in the treasury in circulation. because this money can go out only in exchange for certificates taken in, i leaving the volume of circulation aD- changed
 Apparently there is sis0. .782. l0f n the treasury which might be put in circulation. but this is not really the case, because t is necessary to keep a good working balance on hand, the ] permanent gold reserve ought not to ! ! azrasf Fafsf5 015a s.--5- sz- l 50o, ,O99 of fractional silver coin $ n ! the treasury because it is not wanted 1 in circulation. What may be called free cash in the treasury hardly ex- ceeds s35, ,0e0, ,090. and a cons;dera ble part of this is deposited in national banks, where, like other deposits, = $ available for circulation. The free cash, whatever the amount. together with the working balance. oughtato be . deposited in banks. which. Of course, should give proper security. Bat the amount that ought to be deposited is by no means so large as t would seem to be from the unexplained state ment-
 The active circulation increased s10.- 4Ol,sfs during the month of July, but decreased S43, 940, 453 during the twelve months ending with July The per capita circulation decreased about ] SI54 during the twelve months The principal items of increase last month were gold coin and green backs. zhe in- crease iu the former having been s5,- 505,55s and in the latter S6, 239. s7L Al l of the greeubac increase, Of course, and S. 4z5. .357 of the gold coin increase came from the treasury. There vas 3 decrease of g g7-44. s3177 3127 iu the circalae.ou Of sherman notes and O. Sl.3l785a la i the circulation of bank notes during the month The total amount of Saer- man notes has been reduced abou5 g.. 610. D9a since JuIE ]. z>az and 9he amount n circulation has been re j duced Szz, ,o90. .QoO. The treasury de psrtmeut evidently regards these notes as source of danger and seeks 70 8is- ] courage their circulation
 Besides the ss4. 7o2. 557 of gold coin in ] the treasury at this time. there was # s60.65I.509 in gold bullion. Adding tliS bullion to the general stock o1 i gold coin we have S64I.I'32. 676 as the total stock Of gold coin and bullion n l the country Free coinage of silver al t6 10 ] would deprive us Of every dol lar of this instantly as circulating ] medium l. would contract the active i circulation fully 50 per cent, not to ] speak of the contraction which sF0ald result from the diminished purchasing l power of the remaining currency or from the hoarding of greenbacks fl i they should still be redeemed in god. Out of a total stock of S423. 2S9. 2l9 silver dollars only s5l. 745. 786 were in the hands of the people on the lst inst-, CT only about 74 cents per head ot population. This fact shows ha7F un- popular these coins are. as the people could have all that have been minted f they wanted them Only about J. coo. GOO of these coins in the treasury ] belong to the government The rest are held against outstanding certii- cates and cannot be used for any other purpose than the redemption of those certificates. Therefore the govern ment would have only s5l. 000, o00 in coin with which 10 maintain specie payments if we should take Harvey s advice and exchange the gold for the silver standard. or less than half the amount of gold now available for that ] purpose. None of the sl24. .67O, TOT ot silver bullion on hand would be avail able. for il is all tied up by the Sher- man notes under the provisions Of the silver act of 1890 These are facts which our silver friends find 1t con- venient To ignore. Chicago Chronicle.
 Evils Entailed.
 Silver agitation depresses bus4uess, and industrial depression not only re- duces wages, but limits employment. The millions lost by the laboring peo- pie in the past two years have been thrown away in the vain attempt to make fifty cents worth of silver bt.l-