The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-03-25
NOBODY WANTS GOLD
Treasurer Roberts Explains
the Lack of Paper Money.
"ENDLESS CHAIN" BROKEN
per Capita" Increased S1.68
in the Year Ending March /.
ENDLESS CHAIN" BROKEN

Washington, D. c., March 24.-United
! day that the impression that the lack OF
| paper money is due to enforced Withdraw
as of notes by the treasury is not true.
The total circulation per capita in the
country, including coin and paper" said
Mr.. Roberts, has increased from S23. So
March !, 1888, to $25.5I oAIrch l. 1893. This
increase has been progressive for several
years. The increase mas, it Is true, been
largely in gold coin, from $40, 293, 81 March
!, 1856, 10 SOP, 90, 20 Sat the first Of the
current month. You viii observe that
the growth of gold coin has been $257011,-
SIS, but in total circulation for that period
the growth has been 500, 10O.55 showing a
net increase Of $143, OSS, 81 outside Of gold
coin. There has been an increase within
these years in every item Of circulation
except gold certificates, treasury notes
and currency certificates. The silver GER
tifcates in the hands of the people are
more now than in 1896 by So, S54, $50; the
United States notes more by S61 SIC, S25 and
the national bank notes more by $50, "a, a.
The gold bullion in the treasury ran up
from SIS ST. 4S4 March l, 1896, to $127, 235, O57
March l, 1899. There does not seem to
me TO be a deficiency in the circulating
medium. The abundance of gold coin does
not give relief, because of the prejudice
Of bankers and their customers against
its use. As a remedy the national banks
might add to the volume of their notes
But they do not see the profit TO ottract
hev MI
pathway under existing laws to additional
circulation is in the use Of gold. Coin is,
with our habits. less convenient than pa
per, but other countries use it.
THE endless chain is no longer in
operation. No lega, tender notes have
been offered for gold in long time. That
kind Of demand for redemption is, for the
present, obsolete. Indeed, my impression
is that the prospect Of its revival is slight.
The excess ~ef our exports over our i'm
ports is so large and so continuous that
we are not likely to have TO ship gold TO
the old world for some years to come.
Besides that, and even more important,
the increase in our production Of gold is
a strong safeguard for the treasury. It
at present promises to be an enduring
'-'-eA VI tLlE tliultSS CiidiI- NEOtQ is IN
such relative excess that no one wants to
give up legal tender notes or indeed any
sort of paper for it.
The treasury department strains every
nerve to meet the demand for notes. and
especially those of small denominations |
At the request of the treasury. the bureau /
of engraving and printing is printing and
delivering to the treasury only notes Of
so and under.
1t is very hard to stand idly by and see |
our dear ones suffer while awaiting the
arrival of the doctor. An Albany IN W !
dairyman called at a drug store there for a |
doctor to come and see his child, then very |
sick with Group. Not finding the doctor in.
he left word for him to como at once on
his return. He also bought a bottle of
ChambeTlain's Cough Remedy, which he /
hoped would give some relief until the doc |
tor should arrive. In a few hours he re-
turned, saying the doctor need not come, |
as the child was much better. The drug |
sist. Mr.. Otto Scholz, says the family has |
since recommended Chamberlain's Cough |
Remedy to their neighbors and friends
until he has a constant demand for It
from that part OF the country. For sale
L.