The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-03-30

900 B. G., the centas passed BY weight,
in bars, ingOts and in crude form (dust).
The shekel, the talent, as of the ancients.
Of to-day.
'The names of certain coins are weights.
Wis., drachm, mark. pound, lire, peso
pcsctps etc.
"The use by weights was cumbersome,
and on account Of the difference in scales
and means OF nscertaininE the purity OF
metals, led to numerous disputes This
led to coinage by the governments ana
brings us down to the money Of to- day
which is silver and gold coined BY the
governments, and paper money valued IN
the eyes Of the world, as 1t can be re-
deemed in the precioN metals. - had
better. say, tho precious metal, gold, for
within the last few years the standard
value In the great commercial nations OF
the world has been reduced to the ono.
- statement prepared at the close OF
1904 under the direction of the director
of the United States mint, showed q
summary Of forty-seven countries. In all
of which gold was the monetary. standard,
with the exception of the Straits Settle
ments, Bolivia and Central American
States
Money in the World.
In 1t the aggregate stock OF money OF
the world is reported to be twelve bill
lion five hundred and ten million dollars,
). 4 & u
"Gold-Five billion nine hundred and
cighty-scven dollars;
"Slvcr--Ihree billion one hundred and
thirty million dollars;
* 'UncOvcred paper currcncy-Thrce BILL
lion three hundred and n!nety-two MIL
lion five hundred thousand dollars,
wrhe greatest mass OF gold Is held In
the United States, and Is stated as
md forty-cight million two hundred thou
sand dollars.
France, second. with nine hundred and
twenty-slx million four hundred thousand
hundred and eighty-six million seven
hundred thousand dollars; Russia seven,
hundred and eighty,-tllrce million seven
hundred thousand dollars; United King
lion two hundred thousand dollars.
Money does not determine value; 1t only
expresses It. "A
Money derives It's value not from tho
the labor expended in procuring It.
It Is better to be food-produclng than
a, gold-Hroducing country. a country
tants might all die of starvat ton. b.
Money is just as much bought as the
article for which it Is exchanged From
this It Will be seen that there is no object
Cheaper food e elohng ETC.. means ' m IN.
crease of wealth, hut not so with cheaper
gold coin. @
The amount of money that any country
requires is just that amount necessary to
commodities that Eave to- be exchanged.
No greater amount than this can be
used.
Miser Dies in Misery.
Money Is simply tool, or conveyance,
to facilitate the transfer OF pronerty It
wheniit is leaving him. |fhe miser' dies
in misery ibccause he will not part with it.
Very little Is known in regard to the
banking OF he amclents.. although It APP
Siderable Scale. / would say that Tie
only one who stood out with any great
prominence was Joseph, in, Genesis, His
money was corn his banks were his
tho world at par in exchange for the
commodities most highly priced by the
whole world,
he SPEAKER here spoke sr of 4 the 8 sr fhd
tho goldsmith bankers, and of the great
Bank OF England chartered n iGD', WhlG;n
next spoke OF the Bank Of Prussia, or
esa ufuu Of so 9ei Of the Bank o tanca
that Alexander Hamilton was the The iath s
Of thanking In America, discussed the
growth OF banks in the United u states,
which from single hoIste na n ils9b ar oi
a o4o With combined aggregate resources
Of sS,5oo,ooogoa OF the worlds banking
nt,wer Of $34 49i0OO,GD Mr., Habllston
MATED that $40, ls3, 900 900 was possessed by
t''Aftor discussing the laws of hankiins
md the scheme of lettel6 of credit, the
sneaker said In conclusion;
Profession Of Banking.
,The profession Of banking Is Y, the COM =,
~ r,er ana the active dealing In that me-
9 9nraSf' MONEY non, it's The undsrs standing me
aa wPrkntg q e the faass on pa aepos
IS Is IN th,t they can be returned TO the de-
positors on demand as meeden IN goa
~ il,a ~ NJ nomrnunity, the State ana the
country e,t,; With The means 81 eondnetlng 4:
bho ss bSSsssian "a sss E1sa
1 rst ,om ~ weaith In such shape that ttt
, monnv could he used, and has Furnished
tic facilities for the rapid 1Fahsler Y