Semi-weekly independent. (Plymouth, Marshall County, Ind.) 1895-1897, 1896-01-29
MONEY IN CIRCULATION.


ed States. corrected to Dec. .. 1895. the
most interesting feature is the colored
diagram Of the comparative amounts of
money in circulation from 1860 To 1890,
inclusive.
While we might severely criticise
this table. in fact. almos rise il,
as showing the real circula Il the
country during the wal al shortly
after. rs compared with that in late
years. for Mr.. Ford. chief of the bureau
of statistics. takes no account of the
small issue of ten-thirty bonds. which
were practically Il part of the early cir
culation. Nevertheless. taking his own
figures. we may make same interesting
deductions.
From 1872 to 1878. inclusive. gold re-
manned stationary at the relatively
small amount of about $4,000 900.
Then il rapidly advanced in quantity
Till. in 1851. il had reached the amount
of $%470.ooO.0 OO.
F~1uctuating somewhat. but with Il
general advance. it reached in 1892 the
amount OF $500. O0O.O0 In the year of
depression. 1893. ii receded TO the $780,
00.0O0 mark. to rise again last year to
S:'t0. 600, 600. from which point il has
this year gone back TO S550.0000.000. sill
Yer did not again reach the circulation
il possessed in the first two years of the
war ,S233. 00O. 600 until 1881. when il
WAS about S250,000.0 600. Then it rose
steadily in AMOUNT until 1S92. reaching
hen the sum of S4S0.OO0.000. When Il
drop to about S4O. 100000 in 1892. in
the last two years silver has remained
at about S490.000.O0O.
At the height of the war. 1864. United
States notes were about S420.OOO.0 900
in amount. and from the close. 1866 to
1878. wavered around the $3.50 100000
mark. Since that time $500. 10000 has
been about the average amount. though
in 1894 and 1895 there have been less
than $40. 100000 of United States notes
in circulation.
From 1866 to 1856 the national bank
notes remained pretty steadily around
S340.ooo.O geo. dropping from that figure
since then until they now number about
sos. 1000.
The increase which has kept our cir
culation for 1S92-1S9J above that of
other years is in the treasury notes.
amounting last year, when our cur
rency reached its maximum. to about
S13l.oOo 5000, and this year to %S115.000,
WD.
The total amount of currency has al
yanccd with slight rctrogressions from
about St1!,.O 900 ut the close of the
war 10 81 .G6O. 100000 in 1894. The retro
gression to Il little more than $1,000
100000 this q Il is due most largely
10 the decrease Of the circulation of gold
and treasury notes.
When il is considered that the de
crease in gold is naturally due To the
evil straits into which the financial
policy of the present lmal-l administra-
tion has brought the country. the pro-
posal To- Withdraw the treasury notes
* like adding insult 10 injury. 1t Is
the very form that most needs strength
cning. The coinage of the Seignioragc.
10 say no more, would place the silver
circulation where il belongs. above that
of gold. The national bank notes will
undoubtedly bc increased by IN on
largemcnt of the act which created
them. allowing banks To issue %circula-
tion up to Il limit of their deposits.
The United States and treasury notes
alone remain endangered by the threat
cncd acts of the present administration
We think. however. that there Is enough
old-timc patriotism in the present Con
grcsS to resist the striking down of the
forms of our currency which have done
Ms such noble service in the past.
The fact that the per capita circula-
tion Is now down to Il little more than
So tells it's own story. and shows The
tendency to constant contraction under
present laws and financial operations
of the treasury; and the fact that
France. with Il territory not larger than
Texas and n population less than two.
thirds of ours, has nearly double oui
circulation per capita. illustrates tn,
abSIIrdiiy of our position. Financial
Record.
Tho E,ee Coinuuc Nea.nr.