The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-23
Nearly @1,OOO,OOO.OOo of the Precious
Metal in Circulation, an Increase
of 0S Per Cent. Since 1896.
EMBASSY FOR ROBERT R. HIT
THE ILLINOIS CONGRESSMAN MAY GO
TO THE COURT OF ST. JAMES.
lie Saw President Mckinley Yesterday
and Is said to Have Been offered
Choice OF London or ST. Petersburg.


Special TO the Indianapolis Journal
WASHINGTON, Dec. 22.-The United
States is accumulating 70 per cent. of the
entire worlds production of gold. During
the last thirty months, or since the 1st of
July, 1896, the total stock of gold in actual
circulation in the United States, according
to the estimates of the director of the
mint, has Increased $3.50, 10000, making n
total of, approximately, $950000.0 900. Director
Roberts's estimate of the sock of gold at
the beginning of the present month was
$925, 900. Imports and additions from
American and Canadian mines, including the
Klondike, will increase the total to $3.50, ,0O0,-
600 by the end OF the calendar year, as
against $567y y475,000 on the 1st of July, 1896,
an increase of 6S per cent. in two and
4 half years. on the 1st of January of the
present year the total gold stock in this
country was $745. .245,Ot0. 1t will be seen,
therefore, that the gain during the twelve
months will be close to $2O0,00000O. which is
within about $20OO0OOO of the total worlds
output for the calendar year 1897. The pro-
duction for 1898 will be 100000 to $40, ,OOO-
{ 600 greater than that of the preceding year,
( according to the estimates of experts. From
Jan. /, 1898, down to Nov. 80 last our ex-
J cess of imports of gold over exports was
I fAO1S 444tvVV. Lie ItCGulDtE IScOTQ VIII
crease this total to about $1450OO,OO But
for the fact that our European customers
have taken to asking longer credits Of Amer
lean exporters and in many cases actually
{ borrowing money in order to put off the
/ payment of trade balances, the volume of
! geld from the other side would have been
much larger.
The foregoing exhibit may properly be
! considered as extremely sensational 1t
marks the beginning of the greatest COM
mercial change the world has ever known.
1t demonstrates that this country is chang
ing from the position of debtor nation
to that of creditor nation. The whole
world is getting into our debt. 1t indicates
that the United States is to become in the
4 twentieth century what England has been
{ in the nineteenth, the chief commercial.
manufacturing and trading nation of the
world, with the worlds clearing house sit
uated on the western shores of the Atlantic.
{ instead of ON ahe eastern.
While our sock of gold has increased at
( this unparalleled rate in the past thirty
months, silver has been no laggard in the
race. The store of white metal in this coun-
try has increased, since July 1, 1896, from
sos 900 to $685. 100000, gain of S1S1 4S9 OOO
Much Of the silver now produced in the
United States finds a market in London and
China.
incidentally, while on the subject of mon
ey. It may be stated that the per capita cir
culation Of the United States is greater
than it has ever been in the history of the
country. On Dec. 1, last, it was $25 90. The
total amount in circulation was 81, ,SS6. .S79 900.
The population of the country was esti-
mated by the treasury actuary at "a, 1874 OoO
The circulation has increased $l56. 900 900
since Jan. l last. The statement that will
/ be given out by the Treasury Department
I on the first of the coming month will show
a still further increase in the circulation
both tota: and per capita.
Washington is full of talk about the two
vacant embassies, London and St, Peters,
burg. The Hon. Robert Roberts Hit, of Illi-
nois. chairman of the House committee on
foreign affairs, is being impartially mem
toned for appointment to both positions.
He was summoned to the White House to-
day and was in conference with the Presi
dent for nearly an hour 1t had been sun-
posed that Mr.. Choatc, of New York. was
fixed on for the court of St James. but the
I impression prevails tonight that tho Presi-
i dent has changed his mind Mr. Hit re-
( fuses positively to say anything about the
White House conference, which leaves the
idea grounded that he will accept the am
basSadorship to one or the other of these
capitals, the choice being left with him
Senator Cullom, who has been pressing Mr..
Hit for the Court of st. James, is quoted
as saying most positively that st. Peters,
burg can be left out of calculation.
Secretary Bliss stated to-day that Mr.
Hitchcock. his successor in the Cabinet.
would sail for this country OH jan s. and
that the change in Office would take place
Just prior to Ireb. /