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archieftoegang 2.10.02, inventarisnummer 2901, pagina 24

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axpouz raou rux suixer conutrraz
i present, nevertheless the annexed tigures may in so lar ve ot some interest,
as they represent the basis which may statistically be laid doon, trom which
i a startins point may be attaired in an estimate of the circulation of Cerman
11 co1s.
The Despaten of Lord Odo Russell, dated 14th April 1876. als0 speats of
the impossibility of accurate information veins obtained on this head. All
estimates must theretore be receired with extreme caution.
the calculations wich have veen made appear to have veen based
Partly, on theoretical interences as to the extent to which the causes
which diminish any currenoy, such as
Export in the ordinary course of trade.
(1 )
Export by means of emigration
(2 .
txport in consequence of war indemnities,
(3 )
Mettins donn tor manutacturins purposes,
(4 )
The ordinary wear and tear of coins,
(3 )
The actual 1055 of coin,
16)
may have, as a matter of tact, diminished the total of Silver coin in
circulation.
Partly, on the tacts reveated in the case of series of coins already
withdrawn,
Partly, on evidence afforded as to the actual amount now circulatins,
by Returns Statins the Stocks held by the banks, Savings banks, public
and 1ocal treasuries, and 50 torth.
The total amount of Silver coin manulactured and issued in Cermany
since 1730. till the coinage of Silver was stopped in December 1871. is accu
rately knonn. Tat amount, as Stated in the passase quoted above, torms
the startins point tor the caleulation. The ditterences ot opinion bezin when
the sum nas to ve determined, which shoula ve deducted trom the totat
coined, as havins disappeared, through any of the processes which have veen
enumerated. Onfortunately, in many of the calculations, the question of the
amount of Silver remainins tor sate at siven moments since the commencement
of the operation of withdrawal, and atter much Silver nad veen presenten tor
exchange, is mixed up with the caleulation of the amount in circution,
betore that operation commenced, so that a comparison ot the various estimates
is rendered somenhat complicated.
the total amount coined since 1730 up 10 December 1671. was, in round
tigures, as tollows:-
In Thalers
In Florins (Culden)
Hansetoun Coin
-
L.
Small coins ot the nominal value of 4, 100, 0001. containins,
say, of pure Silver
143200, 000
10200, 000
1200, 000
-
85, 600, 000
3 400, 000
89, 800, 0001
To24l -- L.
the question is, now much of this amount was in circulation in December
1871:
The
Note-A Return published in Germany in 1854. adds an amount of about 1,200, 000 thalers,
orabout 180, 0001. as havins veen coined in the years 1872 and 1873. Mr. Pietsch, includins that
amount in his estimates, brings tie thalers up to the amount of 74, 400, 0001. in place of the
amount 74, 200, 0001. as siven above: vat these coins were commemorative coins, wich are
certain to be rept in collections. They comprise Prussiant Victory Dollars, Bavariant Peace
Dollars, Saxon, Tubilee Dollars, and Wurtemburs Memorial Dollars:
4 Mr. Seyd, in vis evidence, sives the amount at 98, 000, 0001. quotins M. Malou, the Belgian
Minister of Finance: vut the abore tigure of 83, 000, 0001. is taken trom a minute and complete
official Cerman statement presented to thet Reichstas.
2. 1238.
Appendix1.
Official Return
included in
German Parlia
mentary Papers.
Appendix 21
(0. 16 )
pxraxciariov op Sttvxn.
ON
the roughest estimate which nas veen made is that one third nas provably
disappeared.
89, 000, 000
30, 800, 000
59, 100, 000
59, 000, 000
-
E.
21, 500, 000
6, 800, 000
-
-
Bemaining for sale - - F.
xxiii
Taking one-third from the amount of -
Say, in round numbers
There would remain in circulation, in December 1871 . 4.
Amount in circulation at the end of 1871
Deduct,
Amount provisionally tixed tor requirements of
subsidiary coinage
Amount 5o1d up t0 261h April 1876, 8a9
-
27, 500, 000
31, 500, 000
Most authorities, nowever, arrive at a considerably smaller sum. Lord
Odo Russell torwards a memorandum: by a sentleman who is well acquainted
with the subject, and whom pour Committee nave reason to believe to have
great practical experience in monetary affairs. He Says: I may fairly ve
i calculated that at the commencement of the reform of the coinage there were in
circulation Silvercoins of the value of at least 900 million martks 145, 000, 00011
This 1514, 000, 0001. less than the estimate brought out by the assumption of
the disappearance ot one third, and deductins, as betore, 21, 500, 0001. to: new
coinage, ana 6,000, 0001. tor sales atready made, would teave 17, 500, 0001. as
the surplus stock tor sale. The writer puts the total at 20, 000, 0001. c The
amount of Silver still to ve realised may ve set donn at about 400, 000, 000 of
marts. Some amounts of Silver nave, nowever, veen sold since the date at
wich ne toot the tigures, which may, in part, account tor the difference.
lhe estimate wnich assumes one thira to have disappeared is in part
tounded on the actual tacts ascertained in ihe cuse of the Culden currenoy, the
whote of which nas already veen demonetised.
Vot more than 68 per cent. 1e. about two thirds, were presented tor
exchange. Tese Culdens were not of old date: they were comed between 1837
and 1871. and the argument is put torward with some torce, that it one thira
of so recent a coinage is proved to have disappeared, it may certainly ve assumed
that at least ie same proportion, but probably a larger proportion, nas dis
appeared of the Thater coinage rangins trom 1750 10 1871.
Mr. Pietsch have elaborate evidence on this point. Statins the taet of
ite disappearance of the torins to the extent of one third, and enumeratins
varions causes which nave led to the export or mettins doun of Silver coin on a
large scale, ne finally striktes off more than one halt trom the amount of the
Thaler currency and of the subsidiary coins.
in support of these views, ne says: Tam confirmed in my opinion by
the tact that in official quarters in Berlin they always say that it is much more
than one-halt nas disappeared: they estimate at trom three- titths to tw0 thirds.
Knowins now much nas veen coined of those coins,
.
they can make comparisons, and though they do not sive any particulars, they
always say that the amount disappeared is as thave Stated. Consequently t
velieve we are justitied in supposins that out ot the total quantity coined three
fifths have disappeared: vut that is a thins which is quite an approximation, it
may be more or less: in official quarters they pretend it is more.
Mr. Pietsch tinally arrives at the conclusion that 51, 000, 0001. nas dis
appeared ont of the entire quantity coined. I this were 50. the amount avait
able tor sale would, ceteris paribus, not ve 31, 500, 0001. but 10, 500, 0001. Mr
Pietsch himselt, in a supplemental statement, puts it at about 13,000. 0001.
torcible
6 4
338.
tour Committee are disposed to thint that certainly not less than
30, 000, 0001. nas disappeared, and that the amount of 39, 000, 0001. represents
a maximum amount: vut takins that maximum into account, the turther cat
culation would ve as tollows:
Act of 9 July
1878.
Appendix 21
180. 16 )
Appendix 21
(N0. 17 )
2. 707.
2. 710 et 584.
2. 736.
2. 737.