Gold and Debt

scheme for ameliorating the financial troubles of the times, but has in each case been incidental to the statement of the facts. If others, upon the basis of the same facts, should arrive at different conclusions, it should not render this compilation of facts any the less valuable as a book of reference, which it was the author's aim to make.

CHICAGO, Dec. 6, 1876.

TABLE OF CONTENTS.

Monetary units of all countries (Tables 4, 5 and 6),
In many cases only ideal coins,

The pound sterling and the dollar as,
The dollar-origin of the dollar symbol,

-

THE DOLLAR AND OTHER UNITS.

Origin of the name,

American of the Confederation,

American of the United States,

---

Reduction in value of United States dollars in 1837,

Abolition of the American silver dollar,

The London Stock Exchange dollar,

The "dollar" in Frankfort and Paris,

38

-

Of international exchange,
Of the medieval banks,

Change from a silver to a gold currency in the United States

in 1837,

Similar changes in France in 1785 and Austria in 1857,

PAPER MONEY AND COIN IN THE UNITED STATES.

Paper money and coin in the United States,

Table of the amounts of each in use each year from 1854

to 1876,

Period of greatest contraction,

Amount of coin in the United States, 1854 to 1876,

The United States banks,

Estimated number of each class of banks in the United

States in 1875, and the aggregate of their deposits,

5

PAPER MONEY IN EUROPE.

Paper money in Europe,

Invention of,

First used in Sweden,

Table of amounts in Great Britain at various periods,

France at various periods,

Germany at various periods,

Austria,

Russia, -

Italy,

Switzerland, -

Table of aggregate in Europe,

Increase of in Europe,

Great banks of Europe,

Banks of Venice, Barcelona, Genoa, Amsterdam, etc.,

Bank of England,

Joint-stock banks in Great Britain,

Bank of France,

Specie in,

Imperial Bank of Germany,

Bank of the Empire of Russia,

National Bank of Italy,

National Bank of Spain,

Banks in Switzerland,

Bank of Belgium,

Banks in Sweden,

SUSPENSIONS OF SPECIE PAYMENTS IN ALL COUNTRIES.

Suspensions in the United States,

The Bank of the United States,

The suspension of 1862,

Italy,

Russia,

Depreciation in value of the currency each year,

In Great Britain, 1791 to 1821,

Of the Bank of France in 1848 and 1870, -

Remarkably slight depreciation of the notes of the Bank

of France (see note to page 557),

Various effects of on value of currency,

Inconvertible paper money—three causes affecting its value,

Its increase in value by reason of scarcity of any other

medium of exchange,

Its stimulating effects on industry and trade,

GOLD AND SILVER COIN IN EUROPE.

Estimated stock of gold and silver in Great Britain,

France,

Germany,

The method adopted by the author of this book for approxi-

mating the amount of gold and silver in each country,

Table of approximate amount of coin in each country in

Europe,

All estimates in regard to Asia entirely conjectural,

Lavish use of both gold and silver in Asia for personal

ornaments (foot notes),

The stock of gold and silver in Asia not a source of supply
for Europe or America,

Probable stock of gold and silver coin in the world,

AVERAGE RATIO OF NATIONAL REVENUE TO VOLUME
OF MONEY IN USE IN ALL COUNTRIES.

The ratio of national revenue to the total volume of money

in all countries,

-

Table showing the uniformity in the proportions of money

and national revenue per capita of the population in

all countries,

The average amount of annual national revenue about 38 to
40 per cent of the total volume of money in use,

Striking illustration of the above rule in the proportions of

annual revenue to the volume of money in use in the

United States each year from 1866 to 1876 (note to

page 243),

Diagram showing the approximate volume of paper money
in the world each year from 1845 to 1875, and the
relative decrease in the amount of gold and silver, 128, 129

The average annual product of gold prior to about 1825 was
thirteen millions to fifteen millions dollars,

Increased to about forty-three millions dollars per annum

between 1825 and 1848,

The great increase from the placers of California and Aus-
tralia mark the beginning of the era of gold,

Table of the product in the various quarters of the globe,

Product of gold and silver in the United States,

Annual consumption of gold in the arts -Table of,

Jacob's estimate in 1830, -

McCulloch's estimate in 1857,

Author's estimate of total annual production, consumption

and addition to stock in the world from 1840 to 1875,

Diagram showing estimated production and consumption of