Iron County register., 1896-07-09
FALSE FIGURES



. Gold Standard Organ.
Recently the editor of the New York
Financial News printed the treasury
report. the figures of which give the
amount of money in circulation at
about 81 per capita. The editor went
on to say that if the amount of the
currency of the country had increased
in proportion to the business and ma
turing wealth Of the country. the per
capita amount of circulation would be
500, and everything would be on 3
high tide of prosperity.
But correspondent of the Financial
News Is not satisfied with the treasury
report, which hides the real facts, and
sends to the editor the following,
which we commend to the careful at
tention of our readers:
I'm your to-day's issue in an article,
Our Limited Circulation on the au-
thority of the secretary of the treas
ury, you give the sum of 81, 549. O07, ,0S2
as the amount of money in circulation
four total money stock, and which
would give a per capita of 81, as you
fgurei t. submit you must deduct
from the total named the sum of S571,-
COG, 900 held-locked up by 1aw-as ma
tional bank reserves. Does not that
reduce the per capita to. say, S14? Then
is there not another 500, 900, 600 of gold
held-iocked up by lawn the treas
ury, nominally to redeem irredeemable
greenbacks, but actually to enable the
monarchial governments of the out
side world to replenish their Golfers by
the easy method of exchanging unma-
tured corporate securities for it, thanks
to the New York stock exchange?
Then, is there not always at least $685.
OO0, 600 held by the government? These
three items make the sum Of S796. Oo0,-
900 not in circulation, and, taken from
the total, leaves the per capita circula-
ton S11.
81 will wait long enough for some
one to disprove the foregoing, and
actual per capita circulation is less
than 81. When these simple truths are
made known business men and other
sufferers may begin to realize what's
the matter with Hannah
Now, this correspondent is evidently
a business man or a fnancier who
thoroughly understands the situation.
There is no fact more notorious (and
we use the WOrQ IN lLS ola EngllSn
meaningl than shat the treasury re-
ports are now and have been for years
artfu1ly manipulated so as to conceal
even from the average business man
the real condition of the currency.
The correspondent of the New York
Financial News can easily show, to the
satisfaction of any person not an idiot
or stupidity selfish, that the actual
amount of currency in circulation in
this country at this time is less than
81 per capita
The contraction of the currency un-
der the single gold standard has been
so great that a number of national
banks, in spite of threats and protests
of the money power, have been COM
PEELED, in self-defense, to take out more
circulation.
These facts, so plain, SO clear, and
SO simple, ought to appeal to every
business man to study the money
question for himself and apply his
knowledge in defense of his own inter.
ests. Money is valuable only as it en-.
ables the people to transact business
with each other. A dollar is simply
tool of exchange. It is not a sound
dollar if it is SO scarce that it robs busi-
ness men and producers of half their
profits and property of half its value.
Atlanta Constitution.