The Indianapolis journal., 1898-07-15
THE coUNTRY's MONEY.
An Increase in Circulation OF $3.50
Per Capita in Two Years.

New York Financier.
The net increase in the money IN circula-
ton in the United States during the month
of June, according to the treasury table is
sued last week. was So. 5S7, ,49S The gold in
circulation now amounts in round numbers
to 66l millions, an increase of $l4l, S13, 900
within the year just closed The total
money in circulation is estimated at 1S431z
millions, as against 1.646 millions July |,
1877, an expansion of, nearly 1914 millions.
This is a remarkable exhibit and goes far
toward showing the advancement which the
the last tWelve I've months of the S total GAIN
$l4l, $4,000, as we have stated is to be at
tributed to specie expansion. Silver certif-
States notes $3S, 000 900 of the remainder, the
decreases having been in national bank
notes, currency and gold certificates The
mated population nis i 1'0 Of 7452S'ooo, M Is saa
which has been exceeded only few times
In the history of the country-notably in the
fall of 1898 and the early part of 1894 when
the treasury was being drained of cash.
"A AS showing the changes in the condition Of
stated that the stock of gold in coin and
6ullion sndl, LOT ~ now held by the government is
/, 1894 In fact, beginning with April, 1893,
the treasury's stock of gold was below the
one hundred million mark with the excep-
months In 1885, until February. 1896. when
1t crossed the imaginary line of safety again.
$14O,S17,69S In two years the United States
has increased it's gold money almost, If not
quite, two hundred million dollars, while the
treasury's stock has shown large gain, as
noted above. In other words, this coun-
try has added to its circulation since the
day Mr.. Bryan was nominatec plat
form denouncing the present standard as an
oppressive monster, about $3.50 in gold for
every man, woman and child in the Union.
Had this been predicted during the heat OF
Ine free silver campaign, the man bold
enough to have fathered the assertion would
have been derided by the Populist orators
as a lunatic. Yet the very people who voted
the Bryan ticket have received more than
a prOportionate share of the increased gold
circulation in exchange for their farrns
products.
The men who denounced government bond
issues two years ago are now anxiously
making efforts to become bondholders
themselves, and Kansas, with her $12, 900, 600
of surplus money in banks, is worrying, not
that the gold standard is the oppressor
of the people, but because of the fact that
it has made prosperity so common that her
citizens cannot secure as many bonds as
they would like to have.
1t would be interesting to have an ex-
preston of opinion from some of the leading
silver advocates regarding the character OF
the imitation of our currency since 1856
whether, for instance, an addition of two
hundred millions of gold, worth it's weight
the world over is not quite as satisfactory
as the same amount of silver, worth 46
cents an ounce. We imagine the farmers OF
the West, who have been selling their wheat
in Europe, are more satisfied to receive in
exchange gold at its intrinsic worth, than
silver; which Europe would have been glad
to unload on us under free-conage laws at
fictitious minting price of $1.29 an ounce.