The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-05-15
THREE BILLIONS AND A HALF"
Some Questions o. to the Accuracy 81
Treasury and Mint REPORTS.

To THE EDITOR OF THE SUH--Str. Thirty
i've dollars represents the sum Of money
that belongs to each citizen Of this bill
ionatre republic" says a correspondent Of
| THE SuN.
There Is vast deal Of difference between
the number Of inhabitants In q countr,
| and the number OF citizens In that same
country. I was In a house quite recently
where there live twenty-six people. not
one Of them citizens Of our country.
The census 1scloses the fact that less
than one-fourth OF our population are
citizens
Again. There are in the United States
approximately sS.ooo,ooc people, and there
was distributed among these people in
1913 S3.I1.l0ss7s'
Statements Ike the one Just quoted fire.
quently appear In the newspapers, COM
piled from reports issued by or under
Government authority.
That there is something bearing the
semblance of truth In these so-callcd
challenge their correctness. Indeed, they
are at best only a mass OF figures
Once more. November /, 1918. the
total amount Of gold coin In public cir
culation was ss14.000. 900"
This I deny, and in order to show that
the reports are not reliable I ask any
one Interested to take up any report Of
Mint from 1870 to 1885 and under the
head OF gold coin will be found the follow
ing The Treasury estimates that in
1861 there was only S25.00o.000 in
gold coin In the United States. and this
mainly on the Pacific coast"
The same official reports show that from
ls49 to 1861 the output OF gold coin from
our min: exceeded seventeen hundred
millions. Where had all our gold coin
gone? To other countries. Now I assert
that this enlargement of gold coin from
the people has been going on ever since
the discovery OF gold in large quantities in
the United States and not only so. but
our paper currency has also gone abroad.
and much OF IL has been destroyed by fire
or gone down to a watery grave.
| have but recently returned from my
third trip to Mexico. In Monterey I was
given change for an eagle Nl0) In United
states paper money. In Vera Cruz our
paper currency was accepted without hesi-
tation. At Guadalajara II was moro de-
sirable than Mexican money do not
now recall any place In Mexico where !
stayed any time that did not see and use
United states currency.
Some years ago ] was in Brasil and
other South American countries. and the
bankers and hotel keepers accepted
American coin or currency at It's face
value.
nave uSeu our SllNcT anu Eblu az wen
as our paper currency in England and on
the Continent
This is equally true OF Panama and
Central America as well as In the Philip
pines and the Orient generally.
In northwestern Canada our gold. silver
and paper circulates freely, so that what
ever the amount may be that We have
coined. and believe the coinage figures
are correct. II is poor index to the
amount In actual circulation.
Every year there Is some Of our gold
used for jewelry and other purposes. the
account Of which never reaches the
Treasury Department Every year there
go abroad uncounted thousands in the
pockets oil tourists. mechanics. sailors and
laborers. Our sailors as vel! as our SOL
dlers are not m!sers. Every year some OF
our coin and currency goes 10 the bottom
Of the sea.
Take the fires in our cities. towns and
country Baltimore Chicago and
san Franclsco-how much OF our coin ans
currency was destroyed We do not. cannot
know. but the aggregate every quarter
Of century is immensely great.
In the official reports issued by the
Government; IL will be seen that for years
the amour; OF fractional currency given a.
being IN circulation WAS all that had been
Issued--ninus the amount that had been
exchanged or redeemed" This was so
fractional currency was in looking through
A museum or some collection OF stamps
and currency made by an individual-that
IN. amount was cut down TO $4,000, 900
In fractional paper currency.
And this was equally true Of notes Is
sued by the Government during the war
from 1851 20 1876 and yet every soldier
that was actively engaged knows tha,
OF these we're destroyed IN the
war; Yet the old pufed UP reports con-
tinue 10 be used-and thousands upon
thousands really believe that the per
capita Of issue, less the amount re-
deemed o. exchanged. represents the ac-
tuai amount in active circulation.
This is quite as misleading as the known
fact that lawful reserves take from the
peoples use the exact amount held as re-
serves
would ne very glad 30 see the Treasury
myths exploded and the public told APP
fortunately the total aggregate money in
use and the amount that Is really circu-
ating n r. HEATH.
DS THY wISG Nav IA