The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1896-07-09
FALSE FIGURES.
A Correspondent Challenges the Figures OF
a Gold Standard Organ.

A Correspondents Challenges the Figures OF
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
slOo, and everything would be on a
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,
tention of our readers:
In your to-day's issue in an article,
Our Limited Circulation on the au-
thority of the secretary of the treas
urv, won give the sum of 81, SAC. .oe7, ,0s2
as the amount of money in circulation
(our total money stock, and which
would give per capita of 2t, as you
fgurei t. | submit you must deduct
from the total named the sum of S57l,-
000,0Go held-locked up by law-as ma
tioual bank reserves. Does not that
reduce the per capita to, say, SLAP Then
is there not another $780, 900, 600 of gold
held--locked up by LAWN the treas
ury, nominally to redeem irredeemable
greenbacks, but actually to enable the
nonarchial 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 Mt least $685.
100000 held by the government? These
three items make the sum of $796 000,
200 not in circulation, and, taken from
the total, leaves the per capita circula-
ton $11.
II will wait long enough for some
one TO disprove the foregoing, and
then l will show further that the
actual per capita circulation is less
than ST. 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
business man or a financier who
thoroughly understands the situation.
There is no fact more notorious land
we use the word in its old English
ueuiiug) than that the treasury re-
port are now and have been for years
arlfally manipulated so a5 TO conceal
even from the average business mar
the real condition of the currency.
The correspondent of the New York
Financial News car easily show, 10 the
satisfaction of any person not an idiot
OK al9pi4ly selfish, that tie actual
amount of currency in ejaculation in
thu. country at this time IS less than
Sc per capita.
TIL. contraction OF the cuTeacy an
de,' this single gold standard has been
- great that number of natioua
tank4, IL spite OF threats a-,, protest;
of the money power, have tyca com
PEELED IL self.defeuse, to tale 6at more
circulation.
These facts, so plain, SO clear, anC
so simple, ought to appeal 10 every
business man to study the noaeJ
question for himself an0 apply hi
knowledge in defense of his own iater
ests. Money is valuable only as il en-
nbles the people to transact busines
with each ether A dollar is simply I
tool Of exchange 1t is not . sounC
dollar if it is so scarce that it robs busi
ness men and producers OF half thei
profits and property Of half its value
Atlanta Constitution.