The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1891-09-04

AgErr o.. 8, i67, i,90LI7
THE amount of circulation outstanding at
this ofdeer was 3i70,079,5yn. which amount in-
Ciudcs the notes OF iusOIvent banks, of those
In voluntary liquidation, aud Of those which
deposited leg II tender notes under the acts
of June 90 1874 and July ~ 1852. for the puF-
pose OF retiring their circulation.
Z. s. LACEY, Comptroller.
The first task in hand is to ascertain
from the above bewi!dering 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 irrelevant, as these items must be-
paid out of the cash in hand. Tho
items marked with asterislc, thusH,
are dispensed with as irrelevant items
The items not thus marked, which may
be considered as cash items, foot up
the sum of S385, 4O4. $50. OF the items
thus msrked%, "U United States bonds to
secure circulation" is all absorbed but
So, O4O, 927 by outstanding notes in cir
culation." Stocks, securities, etc, are
not in any sense cash due from ap-
proven reserve agents" is included 10
the cash held by such national banks
as aseL as reserve asEuLar aa - also llAG
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 S11g,283, II5
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 en-
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 mum bers,
as available cash assets" the sum OF
$500, OOO. OOO-oT about 25 per cent OF the
amount due TO individual depositOrs-
Now take a glance at the other side.
The banks owed to the United States
and to individual dePOsitoFs the sum of
81, GOA, Cos, ISL, or 81, 2O4, 69S, T5t more
than the whole of their available cash
assets, and included in the item 'loaus
and discounts" are the items surplus
fund" and undivided profits" as well
as the 1867, 7s7, 4O6 capital stock paid
in, >" the whole amounting TO 1901, 49,
943. Now what / want TO arrive at,
or the question / PROFOUND, is this;
Where is the balance of 81, 2O4, 6gs, ISL
due depositors, and the 1921, 7Sl, o43 60
come fFom2 OF course the answer. and
obviously the correct answer, is this;
''Out of the item, loans and discounts
amounting to 81, $50, 682, $50"
All, there, you who ridicU1e and be-
little the monetary demand of the Gin
einnati platform, who spout so grand
iloquently about correct principles OF
6uancs'-sse here Do not you per
ceive that the only security that deposit
tors and stockholders in national banks
have for the vast sum of s., 1876, $50. 6g4
- IL
upon personal property? You who
frantiely howl that sub-trsasurgites
want to convert the United States
treasury into one vast pawn brokers
shop, do you ever realize that the
capital stock OF your eulogized banking
system consists Of a choice selection of
pawn brokers' pledges? There IS ALSO
iuteIy no cash capital behind our
national bsulzs-nothing bat personal
notes and chattel mortgages IL is in-
deed a shrevydIy conceived and infer
nzlIy adjusted system Of Bpoltlt1on and
robbery. There is, perhaps. IN the hands
of the people the sum OF $3.50, 900. 600, not
including bank reserves This amount
the national banks alone have loaned
out 70 the tune of SsLG5 Tor each dollar
in existence In addition 70 this, saw
ings, state aud other banking tustitu-
lions have loaned TIE same money out
TO the tune Of s. 60 for each dollar IN
H4lA1t-AA-S- AAAA+ - ~ --4s -G~- Gl-lA
dollar IN the hands Of the people the
banking Institutions have based IS. 25
Of their own credit, and are bozuing
such credit 70 the people at an eEorbi-
tant rate OF interest Is it any wonder
times are hard. when -. 25 Of debt must
be paid with 81 IN money?
Now note this fact; II the s. 68S banks
making 4hs above statement were
United States banizz-national in fact
as well ss in name, with each Official q
bonded smploye Of the psopie-dsposit-
ors would have not only personal notes
and chattsi mortgages IS security. but
$50. GOO. 600. 900 Of national wealth, aad
the nations sovereign perspective 20
coin. stamp and issue money God
speed the day--GeorEe @ Wazd, in To
peiza (Eau-l Advocate
Democrat Han. OF Missouri. has
10. In MIN. - Il ------- =