The record-union., 1896-08-03
SACRAMENTO CoRD-UN1oN,

posted is found by experience to re-
main as fund more or less permanent
under normal conditions, but sudden
run, or financial crisis like that or
1893, or the development OF a desire for
boarding caused by a semi-insane i'm
pulse, instantly changes the situation,
and the life of a banker then becomes
one of anxiety and alarm.
1t is absolutely necessary for banks,
in order to conduct paying business.
that they have all their available funds
out in circulation, and the one thing
needful to secure this is confidence.
THE "SENTINEL'S" FACTS.
Santa Cruz Sentinel: Although there
is something Illogical in the old adage,
still it carries in it's real meaning q
great truth, viz:
Convince man against his will,
He will be of the same opinion still.
The silver advocates have a kink in
their heads. and many falsely quoted
figure, and not wishing to hear the
truth they use every means to hold the
same opinion STILL We everlastingly
hear so much about ''the crime Of
1S73,' decentralization" and so on that
| it makes a wise man tired to listen to
| the chatter, who not only knows all
silver arguments are fallacies, but their
promises untruthS. Now here are the
| Mint figures of our coinage, which
| every silver man should paste In his
| hat:
Total coinage Of legalten-
| der silver dollars from
the establishment Of the
| Mint to 1878. ........... Sc, $50
Total coinage Of legal
tender silver dollars
since 1878. 422,575, 266
Legal tender silver per
| capita in 1873. ..... 0.174
Legal tender silver per
| capita in 1896. .... 6.O2
Total circulation per cap
| ita in 1878. ........s 1904
Total circulation per cap
ita June 1, 1896. ... 21.35
Total monetary stock
in 1873, excluding du-
| p1catlOnS U4,44O, ,01U
| Monetary stock per cap
lta, 1915. o............... 1881
| Total monetary stock
June l, 1896, exclud-
| ing Implications. ... 1,7S4,15S, ,92O
Monetary stock per capi-
| ia June l, 1896. ....s 251O
Increase in monetary
stock between 1873 and
1896 ................. 1,OO9, 1881
Increase per capita. .....a $50
Increase in money circu-
lation between 1873 and
| 1896 .......... 163, ,7O2,474
Increase per capita in
money in circulation be-
tween 1873 and 1885,. 3.31
It will be seen from this that up to
1873 there was only something over
S6,5OO,0O in silver dollars coined and
they were not in circulation simply be-
| cause they were worth 81 0S. The
owners of silver did not take their bull
lion to the Mint, as it was worth more
than gold. Nobody cared for the sill
Yer dollar, and so by common consent
after three years slow and unimpas-
stoned debate it was dropped from the
coinage. Who could have been wronged
by suspending the coinage Of a dollar
worth more than gold? In 1873 no sill
yer miner offered silver to the Minis
for coinage as it was worth 81 03;
now they want to sell it when it is
people and wage-earners to the ex-
tent Of forty-seven cents on the dollar
WHAT IT WILL DO.
San Jose Herald: 1t is a generally
accepted idea that the money power is
| opposed to free silver. So it is, but 1t
will make it's fight before free silver
coinage becomes the law, not after
ward. 1t will disseminate literature
and no doubt contribute literally to
the Mckinley campaign fund. But if
free silver coinage wins in November
and becomes the law of the land this
same money power will use it's whole
influence to make that policy a success
It may not like it, but there is nothing
SO reasonable in case of necessity as
a million dollars unless it is a hundred
millions.
ITS TITLE.
Dixon Tribune: Every day we heal
it urged by Republican politicians tha
the Mckinley bill must be re-enactet
in order to increase the revenue. L
may be of interest to this class of poll
ticians to recall that the caption OF
the Mckinley law read as follows: "Ar
Act to reduce the revenues and equal
ize the duties on imports, and for othel
purposes
The first sugar n1an1lfa ctI1red in this