Birmingham state herald., 1896-06-07

$l9o,ooUi QudflsfS, $oo,1Ooi nalNeS, $llU,- 565; dollars, $1100-$999, 40. And that all the $42,000.000, coined between 1884 and 1853, except about $1,000,000, was minted into small change, as was the above, while page 290 shows that only $750, 900 of this $42,000000 was mined in this country. Of course no one except our "extreme free silverite" would think that that silver was imported into this coun- try and coined into 3-cent pieces, etc, with intent to circulate.
 After reading over the above it ap- pears to me that the facts do not sup port the assertions. This is unfortunate, for the facts are indisputable. Perhaps the assertions are erroneous.
 In his speech at Auusta, Ga., March 31, 1896, Secretary Smith said:
 You have just heard from our illustri- ous friend a magnificent description of the resources and wealth of the United States. He would properly have com pleted his description had he said that since 1873 twice as much of our country's S growth has taken place as during any similar period of our countrys history" (Great applause)
 Facts in support of above, from statis- tical abstract for 1894, page 73:
 Total exports and imports
 In 1853, $467 ,26e, ,547 1873, $1,164616, 132, 149 per cent increase in twenty years.
 In 1893, $1,71 4,064, ,116, 46 per cent increase in twenty years.
 From same authority, page 5. Popula- ton:
 In 1850, 2s,191, ,s76; 1870, SS,55S,371, 67 per cent increase in twenty years
 In 1S90 62,622, 250, 60 per cent increase in twenty years.
 From same authority, page 37S. Total real estate and improvements as assess ed:
 In 1850, s3,S99 226, ,S47; 1870, $9,914, ,7s0, ,s25; 159 per cent increase in twenty years.
 In 1890, SIS, 1856, ,556,675, 91 per cent in- crease in twenty years.
 From same authority page 372. Total real and personal property-true valua- tion:
 In 1850, $7,195 7SO 22S; 1870, $3O OO6s, ,51s ,507, 321 per cent increase in twenty years.
 In 1S9O $65, ,O37 O91, ,197, 116 per cent in crease in twenty years.
 have not selected the above but have taken all the information which the ab- stract gives for twenty years previous to 1873. Doubtless had I access to the census reports l could much more abun- danty support the secretary's assertion. When one bears in mind that during part of the first period of twenty years we had war and during all or the second period peace, he will perceive how much stronger the facts are in support of the assertion.
 Again MT. Smith said at the same time and place.
 ''The government has coined more sub sidiary coin in the past three years than during any three years in the history or the government" (Applause)
 Facts in proof of the above:
 The report of the director of the hints for 1894 shows on page 3S9 subsidiary coinage in three year periods as follows (minor coinage not included): 2 oo
 In 1853, 54, '55, $21 ,0S6,S36; per capita, 90 cents
 In 1875, '7e, TT, s42,679,7S7; per capita, $1. .06
 Last three years, $1S7O4, ,997; per capita, 30 cents. (From treasury department document Mo- 1901, pages and 13, which brings the record to June 30, 1S950
 Now, if we deduct from the last three years coinage $2,51612S of Columbian coins, which were minted, not for circula- tion, but speculation, the confirmation of the assertion becomes even stronger, es- pecially after a glance at the per capita.
 Agan Tn his Augusta speech Mr. Smith said: "Ninety-seven per cent of the cur rency of the country consists not of mon ey, but of bills of exchange, checks and bills of credit"
 Facts in support of above:
 The report of the comptroller of the currency for 1894 devotes from pages 379 to 3S6 to an exhaustive investigation of this subject. Two thousand four hundred and sixty-fve replies were received to BETA inquiries sent out. The retail pay ments investigated amounted to $5,999,- O65. Of this amount 5S.9 per cent was in checks or store orders; All per cent was fin the various kinds of money.
 Again in his Augusta speech MT. Smith said:
 'The gentleman should have told you that the bonds were merely issued to meet demand notes and to pay green backs issued in time of war;
 Proof of above:
 In his message to congress, December 8. 1895, the president said: "The forego- ing statement of events and conditions develops the fact that after increasing our interest-bearing bonded indebtedness more than $62, ,000, ,000 to save our gold re- serve, we are nearly where we started"