The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1898-01-08
The WORLDS TOTAL cAsA.

THE WORLDS TOTAL CASH
Together in . Lump would Make Z
Mammoth Pile.
To the average individual the repor,
recently submitted to the secretary Of
the treasury by the director of tnlhtr
Is a rot overinteresting document. But
taken in connection with other reports
on similar lines from other countries
all over the world, it forms the basis
1or number Of Interesting deductions
and comparisons.
These reports show that the money
capital OF the world is $12, 80, 900 900.
A good, round sum, indeed, and yet It
makes only eight dollars for each one
OF the billion and half inhabitants;
but, as many of the inhabitants have
no money at all, there is large proper
ton to be divided among those who are
fortunate enough to get it, though there
is no uniformity in the distribution.
In ascertaining these figures of the
total money wealth there is little du.
plication, for nearly third OF the 3d..
oo0,0oo,000 of paper money In the world
Is secured by gold and silver, which il
included In the sum total given. To
be exact, there are $4,000, 0oO, 900 of pa
per money uncovered"-tkatis, the au.
thorities issuing it have not the gold
and silver to redeem 1t. 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 ex.
tent OF about one-half of its face value
Take last year for illustration. The
coming value of the silver produced
was s2i5,272, 700, while the commercial
value was only $109, 406, 500. This is
difference of sos, 1885, 300.
The total sum of the worlds money
is made up of 81, 800, oO0, 900 in gold, 81.
270,0o0,000 in silver, and $500 ,O0O, OoC
OF paper. OF this the government and
people of the United States own-tc
give the best exact obtainable figures
$s96,27o,542 in gold, $685., 500, ISL in sill
yer, and s1.12o,oOo,oOo of paper. This
paper consists of gold certificates, sill.
yer 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 $7l GAG, 7O5, and in |
silver S24,327,7s6. The same sort of
thing is going on in all civilized coun-
tries, and so the annual gold product
OF the world--which in 1896 was $2o4..
396 coos being consumed; but it must
be remembered that little more than
one-half of it goes into the arts. And
the artisans do not always use bullion,
but take the coin, which is of no more
value; so likely the wedding ring YOU
buy today was five-dollar gold piece
yesterday. In this manner the gold cir.
culation is being decreased, while the
work at the minis is making up the loss.
and usually little more.
OF the tUiai amount of gold and sill.
yer produced the United States does
fair proportion. According to the last
report, which is for the year 1896, II |
produced $53,0Ss,000 in gold and s7s,.
)69.236 in silver at coinage value.
But 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
rue significance of the amounts quoted
above.
Take. forinstance, Cleopatra's Needle.
hat famous shaft once wonder of
Egypt, now set up in Central park, New
FORK. The obelisk is 81 feet high. If
he gold and silver of the world be
placed on scale they win weigh about
67,246,1s4 pounds, the gold being TO- ,
69,7l4 pounds this weight, and If these j
ire combined with the paper money we l
fill have bulk with cubic contents of !
3S,3S1 feet.
But their amounts will be better un-
erstood II divided. Ifthe paper money t
vere pressed firmly into a bale "a feet !
ong its other two dimensions would be Q
feet, and it would not be an incon- d
picuous figure If stood on end beside
be obelisk. If before baling these bills
hey were Joined end to end they would
orm band that would reach four =
ines around the earth at its equator. =
Ii the gold were cast into a single {,
yramid and set near the monolith it | :.
ould tower far above its great base, \
'r If from ground to apex it was asH {
let, 1t could have that same measure
tent along each of its base lines. !.
A pyramid of the silver would be much y
rger than this, though the face value
the coir represented in each is near
alike. II yon wish to get an idea of Z
le proportion lay $50 gold piece be- Il
De pile Of 20 silver dollars. The apex
the pyramid of silver might tower y
5 feet and its four base lines could i