Greenbrier independent. [volume] (Lewisburg, Va. [W. Va.]) 1859-1980, 1896-10-15

sides we would be foolish to under
value our own products. BY rights
we should demand 154 instead of Is
|.
10. If silver should como to our
mints for coinage faster than their
present capacity, would not that pre-
vent the full rise in the price of sill
yer bullion?
The capacity of our mints could
easily be enlarged to meet all de-
mands.
l6. Will not the people object to
using so much silver on account of
its bulk?
Silver certificates, as now used,
will easily float all the silver that
may ue presented.
IL. Would there be vanlt room for
the storage of so much silver?
All the silver coin and bullion in
the world could be put in room
slxty-siX feet square aud SiXty-siX
feet high, silver being, like gold, a
precious metal, all the gold coin and
bullion in the world can be put in a
room twenty-five feet square and
twenty-five feet high, which shows
| NV" SoStiy IL tuuy OG ~ COTueGpu.'
Is. Would not the free coinage of
silver so stimulate the production at
the mines as to create flood of the
white metal?
The annual output of gold and sill
yer Is small and is hardly s per cent.
Of the present supply, so that it
would take twenty years before the
present amount of the metals is
doubled, and that would not more
than keep pace with the increase of
the population and wealth of the
world, and especially not of the
United States.
10. What then is really the only
problem that we as nation have to
solve regarding the free coinage of
silver?
We have practically only to take
care Of and absorb our share of the
annual production of silver, which is
for the whole world only about 5 per
cent. of the present available supply.
20. What has the wealth of coun-
try to do with the amount of money
it possesses?
A very great deal, as a moments
reflection will show. A country like
China or Japan need but small per
capita circulation of money to make
Its exchanges of property and to pre-
vent a fall or rise in prices; and
manifestly an old and well developed
country of small area, like France or
Germany, will need less than a new
and undeveloped country of great
area like the United States.
81 To n NOT frpo ho tbo
of our country generally have plenty
OF money in their vaults which they
are unwilling to lend?
This is true, but it SHOVE that
money is dear and comm odities
cheap. Money can be borrowed ifl
there is ample security, but cannot
be bought. 1t will not readily ex-
change for comm odities or labor
Property invested in money is now |
more valuable than when invested |
in commodities. Free coinage of
silver will put new money in circu-
lation, will enable the people to earn |
more money and render money less
dear and more ready to exchange |
for commodities and labor.
%. So much business is now done |
through the banks by checks and
drafts, does not there now exist less |
need for money than formerly?
All will agree that this country |
never had as prosperous times as be-
tween 1864 and 1878 and business |
was done then as much as now |
through the banks, while in many |
lines of business money is now used |
where orders on stores and other OBJ |
sOlete devices were formerly en-
ployed.
%. What was the per capita of
money circulation at the end Of the
war In 1865?
Before the Southern States, which |
had been in rebellion, began to use
the national money there was per
capita circulation of about $50, not
including the 7-30 bonds which, hav-
ing been paid out by the government
to the soldiers, also largely passed as
currency among the people.
"a. At that time what was the ra-
ito between the amount of money in |
circulation and the total wealth of
the country?
There was about 81 in money to !
500 in other property.
25. What is the present ratio be-
tween money and property in France?
1t is about to 25.
26. What is the present ratio be-
tween money and property in the
United States?
Estimating our circulation at one
and a half billion dollars and our
present wealth at sixty-five billion
dollars, the ratio is about l to 45 ;
but If we deduct the money in the
United States treasury and the legal
reserves i'm the banks (which have
no effect upon the prices of com
modities, not being in competition
with them) the ratio is about to 90.
27. What is our present per capita
Of circulation
A liberal estimate is S22, but if the
deductions just referred to be made
the circulation Is about S18.
%. What do we learn from these
comparisons?
We learn that while we have
doubled onr population and trabled
our wealth since 1865 our money cir
culatiOn has relatively decreased, and
could be nearly doubled before we
should have as ample business ia
cilities as those we enjoyed prior to
1878, or as France now possesses.
%. Will not free coinage of silver
benefit the silver miners and no one
else?
When one class of producers
thrives, other classes, by supplying
that class with their commodities,
thrive also. Silver and gold differ