Rensselaer Union, Volume 9, Number 1, Rensselaer, Jasper County, 21 September 1876 — Our Stock of Specie. [ARTICLE]

Our Stock of Specie.

Since 1865 it appears that three distinct periods have passed—a period of gold accumulation, one of inflation and outflowof Sid, and one of disaster and recuperation. le five years ending with 1870 saw $192,667,042 in gold flow out by net export*, but during those years the mines yielded $252,725,000, so that our stock Increased $60,000,000 less the amount used in the arts. During the same period we exported $71,406,465 of silver and produced only $64,500,000, a part of the large exceas of production in 1864 and 1860 flowing out. But the three years preceding the panic show a very different result. We exported $136,808,217 of gold and produced $115,500,000. Even in that period, however, we accumulated silver; we exported $69,625,189 and produced $88,500,000. Finally estimating-the production of this year as not greater than that of 1875, we find that since 1878 we have accumulated about $85,000,000 of gold and $48,000,000 of silver, lees the quantities used in the arts. Assuredly we have not used, in the recent years of prostration, more than s6,* 000,000 yearly, and Mr. Lindeman’a estimate for those years is probably nearer the truth. But, at the utmost, we have used $18,000,000 out of $78,000,000 accumulated, a gain of $20,000,000 yearly. This has been done, moreover, without an effort on the part of the Government, for the stock of specie owned by the Treasury has declined $12,700,000 duriag three years, and it has at times sold gold largely. Meanwhile, the utmost efforts have been made bv France, Germany and the Bank of England to gather gold, and they have locked up over $419,000,000 of the precious metals. If these results have so quickly followed the gradual return to more natural prices, without an effort on our part, and in spite of extraordinary efforts to accumulate coin for special purposes elsewhere, with what reason is it said that we cannot, within two years and a half, gather the specie needed for resumption ?— Public.