The Monticellonian., 1895-10-18
Gold and the European War Cloud.

Gold and the European War Cloud.
 Russia Is boarding her gold in her war chests to-day, yet the people Use silver. Russia Is a powerful and rich nation, vet her people are loWly and poor, and why2 Because the czar is Russia There fs no reichstag, no parliament, no congress to question hls acts. There is no prominent man to rise in congress and introduce resolution of inquiry into the acts of that government, or to inquire why gold Is be- Ing hoarded. The czar has been aCeumu- lating gold for military purposes, because a great War Is imminent in Europe, and the time has come when 1t is expected that all Europe will be compelled to arm against Russia That is the shadow that is now east over the continent That is the war cloud that is covering Europe. When Russia combats against Europe with France 1t will take more than 20Oe- O0O of armed men to determine the great conflict and issue of battle If Russia gave up her silver ruble-it is the only money In circulat0n-she would have to put ont this gold, which she is boarding herself, for the great coming conflict, to replace
 Why, my friends. Europe to-day Is a great purchaser of silver, and silver has gone up within the last i've days more than cents an ounce in London. Europe is purchasing silver. She will continue to q grave of silver, so Is China, and Japan has been. for the last 580 years, and all absorb silver, and not one single cent has ever come back from their eavernaus re- ceptaele.
 l am tempted to indulge In old remInis- eenees regarding the matter. 1 don't want to increase the disseusions in the demo cratic party, but l can't help thinking of a few years ago, when an intimate personal and political friend of mine. NJ. l.. Ben ton, of Newton county, was appointed United States district attorney for the western district of this state MT. Cleve- land was a candidate in 1888 for reelection and dismissed Benton, aS was claimed for pernicious partisanship. l got off the train at Washington and walked into the presidents room and he looked up and said. T expected you would De here" l said to him: .Mr President if you didn't expect me, l would think you had a very poor opinion of me, indeed" l asked the president why Benton had been dismissed and he said:
 "Fgr pernicious political activity" Ben ton being an ofitceholdeT l talked with the president for some time and as q re- suit Mr. Benton was retustated In his pO- sition a personal compliment To me, for in those days l stood much nearer the throne than l do to-day. His reinstate- ment. however. had a string to it. He must promise to be good boy and never do tt again, But how about the cabinet ministers today who have their duties 10 the government to perform. and are to= day going about the country making stump sneeches2
 Carlisle went to Kentucky to show them how to run things, and he Is now In Mas aehusetts trying 10 do the same thing. These distinguished apostles of the single gold standard claim that this country has too much money; that there is to-day in the country S25.07 for every man, woman and child. We are happy without know ing it. Twenty-fiVe dollars and seven cents! I will say that there is not Ss per capita in this country. l haVe made up this statement from the official report of the treasury department of 1893, made bS the secretary of the treasury. showing how these estimates are arrived at Col Radcliffe, will you read this? You are much younger than l.
 Col Radcliffe read as follows.
 United states Circulation,
 On July 1, 1893. the secretary of inc treas ury, in his report gave the amount of money in circulation as s2323z 9f7. On examination ft Was found that iu thls statement an error had occurred, by req son of counting both gold and silver in the treasury and the outstanding cirtitcates which represent them. Another statement was then made showing the amount in circulation to be l.73S. .954 e5f, or $5s4.593.923 less than the amount as reported. Of this sum. there Were S59I. .6S1, ,6S5 in gold, S6I5 S61. 4S+ fl silver, and S5S5,39i, 6S3 in notes In this aggregate of money iu circulation among the people the secretary includes S55s 55l 6s3 of gold bullion and Sla1 113sdi of silver bullion not coined, and which cannot be in circulation If this sum be deducted We have left S24l. POS 593. Of this sum S96,- 5la,8SS in gold coin, S25 636, S90 in silver coin and Si9. $50 496 In notes were locked up in the treasury vaults, and therefore not in circulation. If this amount be deducted We have left S,399, l9l ,255 but this is not all. The reports show in 1893 there were s, 7S1 national banks having reserves by law of S553. 0a1, after deducting which there remains S6S5, 291, ,335. In addition to this there were in 1893 5 6S5 state, saving a amounting to $307 046, 000 which leaves in circulation S5S1. .255 900.
 But how does the secretary know that in 1893 there was $591 697 900 in gold bullion and coin in circulation? He took the amount of gold in the treasury and in the national banks on June 30 1899. as $ll50o0.H .H00 and added it to the estimate of gold in circulation, making $ll5,9le0Q0, thus making $l35. 0u0,600 To this he added all that had been coined al the hints since 1872 with the gain or loss of gold exported or imported as registered at the custom- house, and deducted S 500 GOO to be used for the industrial arts, which is far too lit- tie. The secretary assumes that every dol lar coined since 1872 Is stil in existence and that none has been lost or destroyed by fire, shipWreck or otherwise. 1 don't be lieve that there Is any such amount of gold in circulation as $591 ,0o9, 600. don't believe there Is gold coin to-day in this audience. This same statement can be made anywhere in this country. If the treasury report Is correct il is sad commentary upon the patriotism of those among us who see the government paying an enormous bonus 10 the RothschIids syndicate to obtain gold. in order to main tain its reserve. It would be correct, in my opinion. to deduct at least S250 0Od GOO from the estimate of the treasury of the amount of gold in circulation This would leave the total amount of money in cir culation S331. .255, ,367.
 The total population of the United States by the census of 1890 was 62 622 S50. If we add 10 per cent increase for the five years which have elapsed since 1890, our popula- tion is now at least 6SSS4,475, making the per capita circulation S5-S4, in- tead of $25.07. as claimed by the single gold standard advocates The result, think, is not overdrawn. It is startling. l believe that to-day, instead of $25.O7 in circulation for nearly every man, woman and child in the United States, there is in reality S3.64 in circulation among the people.
 If this calculation be thought inaccurate let us fix the per capita circulation at $5. and we have then a contraction since 1S65 of S63 42, the per capita circulation in that year being $6726. France, with not one-tenth the resources, and about one-half our pop ulatiOn, finished country, with St0lid, non-prog gresstVe peasantry, has a per cap ita circulation of $26.10, and Is the most prosperous country In Europe. When Eng land-gold standard England-was on the verge of bankruptcy in 1880, France with S750. 0,Q40 of legal tender silver in circula- ton, loaned the Bank of England Sl0 000, eco of gold to sustain It's credit,
 This is an official statement, but it diff fers so much from our condition at the present time that it sounds like story of Arabia. This, it must be remembered, is q description of that era of Imitation, so much denounced by the money lenders
 and of which they speak as the darkest era of our financial history. The people
 were prosperous, out of debt and press ing forward in material Improvement It vras nncessarN tn cnrfan inc ,.nl,,,,no . (