Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1900-01-18
MONEY IN CIRCULATION.
How the Treasury Department Pils.
Up Statistics 10 Make an Enor-
nous showing.

In order to build up q large pc,
capita in circulation the treasury de-
partment continues to count all the
gold ever coined as being still in BUSH
ness.
The last statement gives the total
circulation of all kinds at 1858, u.s.
las, of which $634,65o,733 is gold. This
includes all the gold from the begin
ming of the government which has
been sent out. No account is taken
of abrasion, of losses in fire or other
wise, or of gold hidden away and
never to be recovered. This cause
alone, in such length of time, would
account for the disappearance OF
many millions of dollars which should
not do dummy duty in a treasury
statement. But even this does not
represent the total diversion from cir
culation of the precious metal But
the other day we printed letter from
prominent Georgia dentist, in which
he drew attention to the enormous
consumption of gold coin by dentists
for the purposes of their trade. The
dentist, for instance, who does not
within one year melt up 90 five-dollar
gold pieces for findings is not to De
found. The fact is that the poorest
dentists use that much. and that one
with any pretensions to business uses
that much in month, rather than in
year. Taking the rate of $1Oo to
each dentist for the year, with 10000
Rt work, accounts for the retirement
of $3,000,000, or $30,000,00O in ten
years. It is not exaggeration to say
that within the past 80 years since
1870 500, 900 of gold coin has
gone the way of the dentist, to which
may be safely added as much more
for other art purposes.
Again, the paper money circulation
is equally as misleading as that of
gold. The government still counts as
in circulation the shinplasters of the
war period which have never been
returned, and never will be now The
loss which is shown to have resulted
from the wearing out or destruction
of those notes applies equally well
to all other paper money, but it is
impossible to settle upon a figure to
represent it
The showing made for silver in cir
shows that the forced coinage OF 10
under the leadership of Mr.. Bland
and others since 1878, has been the
saving feature of the situation. 1t in
safe to say that of the 1868, 716,1 las
of money of all kinds which has been
minted or engraved, almost one
third of it has disappeared under the
circumstances stated. This would
leave in circulation but n trifie over
81, 200, 900 900, of which almost one
half is silver, almost all Of which
bears a mint impress since 1875 This
represents the contribution to cir
culation forced by democratic agita-
ton, and which was carried into ef-
feet by the various administrations
under the lashings of the congress
sional whip. Without the Blandism Of
1873 the money circulation of to-day,
which would be to the logical credit
of the republican party, would be
about $7C0, 00O, 900. Truly a magnifi-
cent showing upon which to ask the
country to go upon gold basis.
Even now, while congress is discus
sing the feasibility of adopting the
gold standard, under advice of Mr..
Mckinley, who voted ten years ago for
paying the creditors of the govern
ment in silver, the business men of
New York are clamoring for financial
relief, and are looking to the secre-
tary of the treasury to dump more
gold in their midst by the redemp-
ton at a high premium of bonds not
yet due. While the secretary win
thus be engaged in the benevolent
work of relieving stringency in one
city, the money with which he is to
do it is being gathered in every other
city by bank and telegraph stamps,
invading every circle with the revenue
collector.
Congress may pass what resolutions
it likes, but the people who have to
pay their taxes in order to relieve one
little group of business men will not
accept the settlement, but will keep
up the fight until our financial system
Is placed upon a natural basis as be-
ing better than one which is proved
artificial.-Atlanta Constitution.