The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1913-05-13
VOX POPULI.
Mr.. TATE EXPLAINS HIS
"BILLIONS" CALCULATION

Muiat, Fla, May L.
Editor Pensacola Journal
Mr.. Henry P. Lason, of DeFuniak
Springs, in his article of Sundays
journal does me a slight injustice
which I am sure he did not intend so
to do. He notices only one paragraph
of my long article on THE Possfo1h-
ties of a Billion" and proceeds to dem
onstrate that a billion silver dollars
loaded into cars holding 10000 pounds
each would require 9S2 cars instead or
S33 cars by my calculation rms
statement does not show any error IN
my work, for / said at the outset OF
my article that / would allow tnat
1t took twenty silver dollars to weigh
pound although it would not take
so many. ! stated this emphatical.y
and remarked twice that my calcula-
tions were based upon the hypothesis
that the silver dollar weighed one
twentieth of a pound-that is, 1t took
twenty to weigh a pound-that 1t was
one inch in diameter, and one-eighth
of an inch in thickness. I knew all
the time that it would not take twenty
silver dollars to weigh a pound, but
that it would take exactly sixteen ana
thirty-two thirty thirds dollars to
weigh a pound. I chose twenty De
cause 1t would be easier for the pupil
culation than 16 and the fraction OF
1928.
Mr. Lason proves that the silver dol
lar weighs more than I assumed
This is all He does not show any
error in my calculation, for he can not
1 will briefly show that my work rela-
tive to the freight cars was correct
Assuming, as 1 did, that 20 silver
dollars weigh just one pound ana
granting that a car will hold $4,000
pounds of silver equal in dollars to 20
times 10000 or $1,200,oo0. then one
billion silver dollars would fill as many
cars as 10000 is contained times in
/, 900 900, 600, which is 500 and frac-
ton which is as I stated. Any school
boy can see this.
Mr.. Iason's calculation is based
upon the true weight of the silver dol
lar, which is four hundred, twelve
and a half grains, and upon this basis
the billion dollars would fill, as he
SAYS, 9S2 cars. Now Mr.. Lason mis-
conceives the purposes Of my article
entirely. He says substantially that
he is not concerned about the vast
ness OF a million million, or trfllfon,
and cares nothing about billion mere
~ as an abstract number but he is con-
cerned about the weight of silver and
gold and he proceeds to show that the
silver dollar weighs more than four
fffths of an ounce, upon which my cal
culations were based. While this Is
certainly true and while the dollar
weighs about sixteen seventeenths or
an ounce, it does not disprove the cor
rectness Of my calculation of the num-
Der OF cars upon my basis, and Mr..
Lason should have said So.
In conclusion / will say that have
read with interest Mr.. Lason's articles
upon the functions of money and must
confess that although his views may
at the first blush appear wild and Wis
ionary, deep study Of the matter will
disclose the fact that there is a good
deal in what he claims and I must en-
dorse many Of his views.
It is evident that he is. per Sc,
f1atist, or one who believes that gov
eminent by fat or decree, can establish
safely that paper Cor any other COM
modify, for that matter) shall be
money like gold, and shall redeem
domestic obligations Of the government
as a legal tender. In short. he seems
Importance whether there is much or
very little or any gold in the United
States treasury for final redemption
money
However, Mr.. Lason will find that
neither Wall street nor the banks of
the country viii agree with him upon
this point, but will call him a George
Law" dreamer.
Very respectfully,
CLARENCE TATE.