White Oaks eagle. (White Oaks, N.M.) 189?-190?, 1896-05-14
CONTRACTION UNDER THE GOLD
STANDARD.

The other day the editor of the New
York Financial News printed the treas
ury report, the figures Iof which give
the amount Of money in circulate on at
about $2l per capita. The editor went
on to say that il the amount of the
currency of the country had increased
in proportion to the business aud matur-
ing wealth of the cOnntry, the per
capita amount of circulation would be
800 and everything would be on 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 attention OF
our readers:
To the editor OF the Financial News
In your to day's issuo in an article Our
Limited Circulation on the authority
OF the secretary of the treasury, you
give the sum of S1,540,007 ,082 as the
amount OF money in circulation tour
total money stock,) and which would
give per capita of S2l, as you figure it..
| submit you must deduct from the
total named the sum of S57 100000 held
locked up by tho law-as national
bank reserves Does not that reduce
tho per capita to S14? Then is there
not another Sl00000,000 OF gold held --
locked mp by law in the treasury, nomi
nally to redeem irredeemable green.
backs, but actually to enable the mon.
archial governments OF the outside
world to replenish their Golfers by the
easy method Of exchanging unmatured
corporate securities for it, thanks to the
New Y Jrk g. Ock exchange? Then. il
there not always at least Sl25,000,000
htl by the government? These three
items make the sum S706.000,000. not in
circulation, and, takon from the total
leaves tho per capita circulation $ll.
| will wait long enough for someone
to disprove the foregoing, and then
will show further that the actual per
capita is less than 81. When these
simple truths are made known business
men aud other sufferers may begin to
realize whats the matter with
l HANNAH
CALUMET.
New York, May 9th, 1896.
! Now, this correspondent is evidently
business man or financier who
thoroughly understands the situation
There is no fact more notorious land wC
may nse the word Of it's English mean
ingl than that the treasury reports ar,
now and have been for years arful,
manipulated 80 as to conceal even from
the average business man the real condi
ton OF the currency.
The correspondent Of the New Yorl
Financial News can easily show, 10 th,
satisfaction Of any person not an Idle
or stupidity selfish. that the actua
amount Of currency in circulation il
thie country at this time is less than .
per capita.
The contraction Of the currency nndc
the single gold standard has been =
great that number Of national banks
in spite Of the threats and protests q
, the money power. have been compelled
IN self defense. 10 take ont more circu
, laiion.
Iheee facte. go plain, so clear and 3
, simple. ought to appeal 10 every bus
= ness man 10 study the money qnostio
Tor himself and apply his knowledge /
, defense of his own interests. None,
:, valuable only as 1t enables the people
, Transact business with each other.
! dollar is simply a tool of exchange.
y IL not a sound dollar IL IT is 20 scar,
:. that il robs burinets men aud produce
9 II half their profits and property u hu
' its value. Atlanta Constitution