The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-03-16
ERRORS OF POPULlSM.
The Circulation in IS65-66 Great
Imagination OF Populists-A Mis-
take of 81. 200, 10000


NNnNrtEnt.
Pouulists assert that the amount OF
money in circulation in this country at the
close OF the war was vastly gre ater than
AZ the present time. and that the Eepub-
llcan Marty. in the interest of the money
power. has since that time continually
contracted the volume OF money 10 the
great distress and impOvegishment Of TIE
people generally.
In order that this charge may he met II
Is FIRST necessary TO ascertain how much
money was in circulation just after the
war. Owing 20 it's isolated position. the
Pacific coast maintained a coin clrcIia-
ton during the suspension OF specie pay
tneuts Of about 80 10. ard this amount
should BE- added 20 the paper circulation
20 get the total money circulation OF the
country.
During recent years. in the government
reports. the expression, money in oircu-
latiou.' means money ia use in the CONF
Try out side OF the intel States treas
ury. be-, in this article il Will be used. as
IL Is usually used by ropa.ls5s when re-
ferrinS TO the time mentioned. as mean
ing money IN use in the country.
James Il. Weaver oprlist candidate
Ter president In 1899. says thst On August
81 1855. the money Ia circulation amount
O. % about 8 100 ooo "a.
Ianatius Dounely. the noted Minnesota
Popalsi. SAYS that IN ISIS the amount of
money In circulation vas S-iIS. 60 So i (2l
Emery states that ;he ainoart OF money
f. circulation Ia 1858 was about s. ga. .
e"~" 80. and says $ =-~e-a~v Mc,'rl-
loch IN his report for Decembar. i>sS
says. We have now about ses-la tse. 90
nearly all in circulation abons the peo-
plr " "a.
senator PETER. OF Kansas. speaking OF
me early part or isss. saws that ,sere was
ooAriy S--i"''n" - OF paper money then
oltS'au l4ng among the people" a.
Al the period named there was oufs.and-
'rS vast anlouni Of temporary ohIisa-
lions 81 the 3Nsrnmcat IN The form Of
notes. thrn = or 10 become duo before
'htee wears. lharing various rates Of tn
ieresi. some z them We're legal tender
Tor face exclusive OF Interest. But the
greater part q them were not legal ten
DER AZ ali. Hopulists include all thes4
temporary debts of the government a. a
ietr; q the money circulation. Il Is ne
purpose of shis article 20 prove by TIE hast
evidence ia the world thas Pcr.ffs,s an.
tr'ssrente IN error IN this natter -hat
ools a ssllli part OF the temporary in
teres, bearing OBJ, cations OF tie govern,
fnfni entered inte circulation a. money.
ana taes only Cor a short time 49, .Aa.
the sn'oan5 ~ nsouey tn circulation il 49,
e wAs co.'s !,vahiy less than haf. ~h.
snioaut ciaine.i by Poplllst leaders
u ALL - readily admitted tha; the hast
evidence as 70 ;h3S mater Is the ,ests-,,,-v
81 The officers q the gos-rusn~nt a, -,
TINA As shown by their Official reoor.s. an 4
esie>i~.-y me statements q treasury -
: salS- necsr~e their dlties gts-,si -t--, -,
a Iosi seq - know mere Sfa-ts- = han -.
body Else. And fhe statements Of feaA-
i0S r~fasF-s OF cHrgre-s r~s5A al Ne
tine are entitled 20 much weight. !, &
l2os s-ca g.oof El@1-ly taAi TIE writer