Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1895-06-27

There Is More Money NOW Innn
Ever Before.

Ever Before.
The following discussion is from
Mr.. Fred Perry Powers "a Financial
Catechism, published by the Reform
Club. Of New York:
Has there been q reduction OF the
"money Of ultimate redemption" since
1873?
There has not even been reduction
Of this part Of the currency. In 1878
there was no "money Of ultimate re-
demption" in circulation and serving
as money in the country except q
trifle on the Pacific coast. In 1851,
lust after the resumption Of specie
payments, the gold coin amounted to
1851, 841, 2O6, and at the end OF 1874
there was $3.50, 1874, 500 of gold coin in
the country and $46.305, 066 of gold
bullion in the Treasury.
What was the total amount OF money
in the country and the amount per
capita in 1878 and at the end OF 1894?
In 1873 there was STA, 445,6l0 in
the country, OF which $751;, 1881, 500 or
$500 per capita was outside the
Treasury; in 1894 there was 2,24l.-
O,552 in all, OF which 81. $780,
45l, or S23. 70 per capita, was in:circu'
lation. Including money in the
Treasury the amount of money in the
country, per capita, was S24.0o In
1880 and S35. 46 in 1894.
What was the per capita amount Of
"money of ultimate redemption IN
July. 1880, and December, 1894?
The gold coin, together with the
gold bullion in the Treasury, amount
ed to S7.0l per inhabitant in 1850 and
SO. Is in 1894.
Has there been in Europe large
contraction OF the "money OF ulti-
mate redemption
No; the following figures, except
for the Bank OF France this year, are
from paper submitted by Professor
w. Lexis to the German silver COM
mission of 1894; Germany has twice
as much gold and silver money as she
had twenty years ago, and her present
stock Of gold, $685., 900. 900. is greater
than her stock OF both gold and silver.
S4O4, 600, 900. in 1878. The popula-
ton has increased one-fourth while
the specie has doubled. Since 1873
France has increased her specie 1857,
900, 600; the gold in the Bank OF
France has increased since 1874 S2l5, :
600, 900, and the population has re-
NAMED stationary. The net imports
of gold into England from 1873 to
1892 we're $3.50, $50, 900.
What is the per capita circulation in
France?
According to the estimates OF our
Mint Bureau, gold S2l.54. silver
S12.s5, paper S2.31, in all $3.50.
What is the per capita circulation
Of Germany?
Gold sl2.65, silver s4.35, paper
SITS, in all s1S.7s.
Are prices twice as high in France
as in Germany?
OF course not.
France, at the head of the Latin
Monetary Union, of course uses little
or no gold?
On the contrary, she has a larger
stock Of gold than any other country
OF Europe or America; she has S275,
900, 900 more than England has.
And India-gold not being q legal
tender, or used commonly as money
OF course the people there care nothing
for gold?
Far from that; commission in
1856 reported that the desire for the
coinage OF gold was universal in India.
The net imports OF gold into lndia
since the metal was demonetized in
1885 have been S756, 900, 900. and it is
| estimated that there was in the coun.
try 5000, 900, 900 OF gold when it
ceased, under British jurisdiction, to
be coined.
But if all the Nations want gold will
there be enough to 60 around?
We can have the best, and it would
be an extraordinary spectacle OF self
abnegation for the United States te
take silver in order that there might
be gold enough for other Nations.
Is not the gold giving out?
There was produced in the world
from the discovery of America to 1851
1862, ITO, $50 fine ounces Of gold, ant
from 1851 to the end Of 1894 thcr'
was produced (the figures for 1879.
being partly estimated) 2c1. 669,37s
fine ounces. In the first five years o
California and Australia production
the worlds production was 80, 05l, go
fine ounces, and in the past five year
| it was "a, 1914, 537 ounces. During tn
past ten years there has been an in
crease in the output Of every imported
gold yielding country.