Dodge City times. [volume] (Dodge City, Kan.) 1876-1892, 1891-09-04


Aggregate ...............'3l6 7, &93 SOL II
1.-THE amount of circulation outstanding ut
the date nameI. as shown by the books Of
this Office, was 0.079, 80 which amount in
cludes the notes OF insO.vent banks, of those
in voluntary liquidation, and of those which
deposited legal tender notes under the acts
OF June 20, 1874. and July II 1882, for the pur-
pose OF retiring their circulation.
+. s. LACEY. Comptroller.
The first task in hand is to ascertain
from the above bewildering and intri-
cate array of figures just how much
cash and cash items the banks really
had on hand on May 4, 1891. In order
to arrive at the facts in the case we
must cast out from the items under the
head of resources" all Implications of
figures which do rot represent reliable
assets. As for instance, what the banks
owe to. or have due from each other
are irrc'"~rut, as these items must be
paid out of the cash in hand. The
items marked with an asterisk. thus*,
are dispensed with as irrelevant items
The items not thus marked, which may
be considered as cash items, foot up
the sum of 1855, 4O4, $50. OF the items
thus marked=, United States bonds to
secure circulation" is all absorbed but
5000, 927 by outstanding notes in cir
culation." Stocks, securities, etc, are
not in any sense cash. due from ap-
proven reserve agents" is included in
the cash held by such national banks
as act as reserve agents. as is also the
case with the item, due from other
national banks" So far as the item
due from state banks and bankers" is
concerned, the national banks owed
state banks and bankers S114,2S3, lis
more than such banks owed them,
which almost absorbs the item, stocks,
securities, etc" The other items under
the head of resources" are simply
representative of business transactions
among banks themselves, carried on
almost altogether in checks. and in no
sense stand for cash in hand"
Summed up, we may say that the
banks had on hand, in round numbers,
as available cash assets" the sum of
$500, 0OO, OOO-or about 25 per cent of the
amount due to individual depositorA
Now take glance at the other side.
The banks owed to the United States
and to individual depositors the sum of
s1,6O4, SOS, ISL. or sl,eO4. Cos, ISL moro
than the whole of their available cash
assets, and included in the item '1oans
and discounts" are the items surplus
fund" and undivided profits" as well
as the s667. 7S7. 400 capital stock paid
in." the whole amounting to 1901, $751;
943. Now what l want to arrive at
or the question I PROFOUND. is this:
Where is tho balance of Sl,2O4. SOS, ISL
due depositors and the s99l, 7sl, 943 to
come from? OF course the answer, and
obviously the correct answer, is this:
''Out of the item. loans and discounts
amounting to 81, $50. 6Sa. $780,"
All, there. you who ridicule and be-
little the monetary demand of the Gin
cinnati platform, who spout SO grand
iloquently about correct principles Of
finance"-see here. DO not you per.
ceive that the only security that deposit
tors and stockholders in national banks
have for the vast sum of 81. 1876, $50. 694
is personal notes and chattel mortgages
upon personal property? You who
franticly howl that sub-trcasuryites
want to convert the United States
treasury into one vast pawnbroker's
shop. do you ever realize that the
capital stock of your eulogized banking
system consists of q choice selection of
pawnbroker's pledges? There is abso-
lutely no cash capital behind our
national banks-nothing but personal
notes and chattel mortgages. It is in
deed shrewdly conceived and infer
nally adjusted system of spoliation and
robbery. There is, perhaps, in the hands
of the people the sum of $3.50. 600. 900, not
including bank reserves This amount
the national banks alone have loaned
out to the tune of s.. los for each dollar
in existence. In addition to this, saw
ings, state and other banking institu-
tons have loaned the same money out
to the tune of go for each dollar in
existence. That is to say, upon each
dollar in the hands of the people the
banking institutions have based IS. Is
of their own credit, and are loaning
such credit to the people at an exorbi-
tant rate of interest Is it any wonder
ssmes are hard, when 60 IS of debt must
De paid with 81 in money?
Now note this fact: II the 1858 banks
making the above statement were
United States banlks-national in fact
~ well a. in name, with each official .
bonded employe Of the people deposit
ors would have not only personal notes
and chattel mortgages IS security, but
81, 900, 000, 900 Of national wealth. and
the nations sovereign prerogative to
coin. stamp and issue money. God
speed the day.-George C. Ward in To.
pcla (Kan.) Advocate.
-Democrat Hall, Of Missouri has
gotten into print again BY Issuing a|
circular call for IN anti-subtreasury
eoofsgsnee s& st. Lo1iA 6sutonbsr u