The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-11-27
MONEY OF THE NATIONS.
If Moulded in an ObeIisk Would Not
Make an Imposing Structure.

From the Philadelphia Times.
To the average individual the report
recently submitted to the Secretary of
the Treasury by the director of minis is
a not over-interesting document. But.
taken in connection with other reports on
similar lines from other countries all over
the world, it forms the basis for a number
of interesting deductions and comparisons.
These reports show that the money capt.
tai of the world is $12, 1870 100000 A good,
round sum, indeed and yet it makes only
IS for each one of the billion and a half
Inhabitants; but, as many of the nhabi-
tants have no money at all, there is
larger proportion to be divided among
those who are fortunate enough to get it,
though there is no uniformity in the dis
tributon.
In ascertainng these figures of the to-
tai money wealth there is a little dupli-
cation, for nearly a third of the SO, 500, 000
600 of paper money in the world is secured
by gold and silver which is included in
the sum total given. To be exact, there
are 5000, 600. 900 of paper money 'uncov-
ered"-that is, the authorities issuing it
have not the gold and silver to redeem it.
This sum rests simply on credit, and not
on security of intrinsic value.
The same thing is true in regard to much
of the silver coinage, to the extent of
about one-half of its face value. Take
last year, for Illustration. The coming
value of the silver produced was $2lo272,-
zoo, while the commercial value was only
$1OS, 406, 800, This is difference of $685. $780,
800
The total sum of the worlds money is
made up of 1880 100000 in gold 1920, 0C0,
900 in silver, and $3,50O,OOO,OOO of paper. OF
this the government and people of the
United States own-to give the best exact
obtainable figures-S696, 20, 542 in gold, $685.
sos. 7S1 in silver, and $1,1200OO of paper. This
paper consists of gold certificates, silver
certificates United States notes, treasury
notes, national bank notes, and currency
certificates.
This volume is continually changing and
gradually increasing. During the last fiscal
year the minis of the United States coined
in gold 81, ,705, and in silver $24,927,7S6
The same sort of thing is going on in all
civilized countries, and so the annual gold
product of the world-whch in 1896 was
S2O4 1896. 600-is being consumed; but it must
be remembered that little more than one
half of it goes into the arts And the artl-
sans do not always use bullion, but take
the coin, which is of no more value; so
likely the wedding ring you buy to-day
was a s. gold piece yesterday. In this man
ner the gold circulation is being decreased
while the work at the mints is making up
the loss. and usually a little more.
OF the total amount of gold and silver
produced the United States does fair
proportion. According to the last report,
which is for the year 1896, 1t produced $685.
OSS. 900 in gold, and $7SO69,2S6 in silver at
coinage value.
Rnt the idea conveyed by figures alone is
at best incomplete. Figures in the millions
are confusing; figures in the billions mean
almost nothing to the mind Comparison
can give better the true significance of
the amounts quoted above
Take for instance, Cleopatra's Needle,
that famous shaft once wonder OF Egypt,
now sci up In Central park, New YORK.
The obelisk is ninety-one feet high. If the
cold and silver of the world be placed on
a scale they will weigh bout 267,246,lSt
uounds. the gold being l6069,14 pounds OF
mis- weight and if these are combined
with the paper money we will have bulk
with cubic contents of 43S,3Sl feet.
But their amounts will'be better under
stood if divided. If the paper money were
messed firmly into a bale forty-seven feet
long its other two dimensions would be
tbirtv feet and il would not be an incon-
snicuous figure if stood on end beside the
obeusk If before balinS these bills they
wore Joined end to end they would form a
band that would reach four times around
the earth at its equator.
! II the gold, were cast into single pyra-
mid and set near the monolith 1t would
tower far above its great base for II from
ground 10 apex it was 1854 feet. 1t could
have that same measurement along each
of its base lines
A nyramid Of the silver would be much
larger than this, though the face value Of
the coin represented In each is nearly
alike If you wish to get an idea Of the
nroportion lay a SO gold piece beside
nile of twenty silver dollars. The apex
Of the pyramid OF silver might tower lis
feet and It's four base lines could each
measure the same distance