The midland journal. (Rising Sun, Md.) 1885-1947, 1897-12-31
The Road to Prosperity.

This little volume of IS pages written
by T. w. Wood, will prove a very
valuable contribution to the popular lit
erature of the day, on the ever increasing
in popular interest, the money question.
This question, by all odds the most vital
to civilization, has already precedence of
all other political questions and will shut
all others out till that most important one
is settled i'll the interest of humanity and
better civilization. Mr. Woods little
book, if it could be given large circula-
ton, would do much to enlighten the
masses on the all important currency
question, the relation of money to bust
ness, the science of money, its abuse and
use. Other abuses in full swing in our
government are pointed out in supple
mentary chapters. The brief and "every
day" style of saying what he means is
not the least merit of the writer.
In discussing the amount of currency
in circulation the authors manner of
putting it is very liable to mislead. For
instance the Comptroller of the Treas.
ury's Report is taken which places the
amount of money i'll circulation i'll round
numbers at $2I per capita. To say there
is that much money in circulation is not
only misleading but entirely erroneous.
1t is not even true that there is that
amount in the country, and two-thirds or
three-fourths of what is in existence is
not in circulation but i'll vaults of banks
and in sub-treasuries of the government
There is at this minute over $500, 900 900
in the sub-treasuries of the government
and vastly more in bank vaults, held as
reserve to cover the wind or credit issues,
and other boards all, out of circulation.
AS reliable statisticians as we have assert
that there is not over IS per capita in
actual circulation among the people.
1t is we'll known by any one who takes
the trouble to investigate that not re-
port of the Comptroller of the Treasury
in the last 20 or rs years has been true
report. No account of the money I'M
avoidably destroyed and lost by fire and
other accidents in that period is TAKEN
but all set down as i'll circulation. $780,
600, 900 in gold is credited by our author
with being in the United States. The
most careful and honest search that can be
instituted does not reveal more than about
half that sum. $500. COO 900 is reputed by
the treasury authorities to be in circula-
ton and boarded among the people.
That there is no truth in that statement
is selfevident fact.
Mr.. Ward fixes on $50 per capita as a
sufficient sum to supply the needs of this
any evidence that that amount is all that
is needed, but such evidence as we have
places $50 per capita as minimum sum.
Again the authors suggestions for get
ting the hypothecated amount in circula-
ton are most clumsy and utterly imprac-
ticable. In fact they smack of the
Coxey method, and can never even be
attempted. Barring these little bemishes
the practicable good sense, historical and
statistical facts, and the manner of telling
them places this little volume as one of
the very best that has appeared in this
warfare against the usurpation and
tyranny of the money power, Price rs
cents; published by Chas. H. Kerr & Co.,
Chicago.