The news & observer., 1897-12-19
HE RICH NATIONS
TtGUt UtlTEO STATES ANU FRANCE SHOULD
0rEN TIL lR MlvTS.
The Tine Has Come 10 Hui Frym Power the
n N Hao Take Taair Cue from
Great B ail

0rsdt . an
Washington, ID. c., Dec II, 1897.
lie the Editor:
Tie annual report Of the Comptroller
of the Currency contains some interest
lug mad suggestive tables that should
not be overlooked by the public.
Ore Of these tables shows the amounts
Of gold, silver and paper money in circu-
laticn in the principal countries Of the
world. Leaving out of view the coun-
tries not of the first class, L will briefly
state the monetary condition Of the
United States, Great Britain, France,
Germany, Russia, Austria and Italy.
In the first place. then, the United
States has the largest aggregate of gold
aud silver, tlaat is to say, 1886 300 900
If gold and $G34, 100000 of silver, max
Gig 81 ,330.S00, 900. We have also 1897
800 OF paper money, exclusive OF
gold and silver certificates, making alto
gether $1,727 100000.
France comes next. with S772. 600 600
Of gold and $443,900,000 Of silver, max
ing a total Of the precious metals
with Sf19200,0OO of what the report
tyles uncovered paper''-that is to say.
costing ON the public credit for redemp-
son, like oar greenbacks and Treasury
notes. The total of French currency is.
eerefore, $1,335, 100000.
Germany stands third as the possessor
Il the precious metals. with 1854. SOC. 900
f gold and $2.128. 100000 of silver.
oh
ermany haS also an uncovered paper
urrency of $123, 100000 making alto
P+h"r currency amounting to 1891, :
100000.
Great Britain stands fourth on the
ist Of countries as the posSessor OF the
REGIONS metals. Her stock of gold is
F&4. .Nn,NO ard her silver contingent Is
~, $50 coo. ms king $G75 100. 900 in all
ne has also paper circulation of $112,-
100000. 50 ti!at the whole currency
mounts to S7S7 500 900.
Russia has $3.50 100000 of gold and
SO. 200,000 of silver, making total of
S659, 100, 600 Of the precious metals. Rus
sia also has S467, 100000 of paper cur
reGpcey. making a total currency Of ST.
12G.300,000.
Austria-Hungary has S179. 100000 of
total of S242 900, 900 of the precious
metals. and S177 100000 of uncovered
paper" showing a total currency of
s419. 500 Oo0.
Italy has S96 100000 Of gold and s45 :
100000 Of silver, making s142, 100000
of the precious metals. with S161 0N0. 600
of paper; total currency. $303, 300 600
Australia colony, has more gold. So
has Egypt.
The table shows the proportion Of cur
rency to population: TIE United States,
with its 72900,000 people, has 500. 10
per head (Some of us would like to
see it, Great Britain, with its 396O0.-
900 peonle, has S20.S3; France. with its
3S, 100000 people, has S34 69; Germany,
with 53,300000, has S1S95: Austria
Hungary. with 45.000.000, has 1898;
Italy, with 31,300,O00, has 5000.
The figures are taken from the Off
cial report. and the Comptroller has the
best opportunities for obtaining infor-
nation, and his figures show how con-
temptible it is for the rulers of this
country, with its vast resources, to pre-
tend that we must wait upon England
before placing silver on its old ground
as legal tender.
IuIC lIUliA u.s. II Is IOI Ille lIupTdCLl-
cability and safety of bimetallism that
stands in the way. It is not the power
of Great Britain. 1t is the use of that
power in winning over the monied class
es of this country that stands in the
way. The remedy, therefore, is to hurl
the men from power who are controlled
by the English and American bondhold-
ers and bankers.
The above official statements show
that the United States stands highest
in the ranks of monied powers, and that
France stands second, and both are in
favor Of bimetallism. Why, then,
should they wait upon England, which
stands fourth rs the possessOr Of the
precious metals?
1t is also true that the United States
possesses greater resources than any
other country. The staple. productions
are greater and are all essential to other
countries. We feed them, and furnish
them with cotton and tobacco. We have
more coal and iron than all Europe, and
they will soon become dependent upon
the United States for these essential
articles.
The pretension, then, that we must
wait for England to move in favor OF
bimetalism is as degrading as it is false.
DANIEL Il. GOODLOE.
Mrs. Mary Bird, Harrisburg, Pa,
SAYS: 'NIy child is worth millions to
L., Nv IN