Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-08-17
THE COMPTROLLER
ON THE SITUATION,

/
| WASHINGTON. Aug 1G.-''Thc sl,ua.
ton as 1t stands today" said comptroler
Eekels yesterday. might very appro.
priateiy be termed starvation In the midst
OF plenty. for such is the exact truth,
me volume OF currency IN the country Is
s.sa'er than IN any reccut year, aud yet
lug Is 10 be had except as IL is bought
~ me market as a commodity. pure aud
Slple remarkable as "a this money
SuslhS and selling upon the. streets q
| NV FORK and elsewhere. under existing
circumstances Il Is accomplishing results
pn''e unlocked for when first entered up
VI IL Is bringing out Of hiding places
ne money drawn from the banks by
me umid and as II consequence the cnsu-
ing week viii undoubtedly see money sink
| 10 iis normal value. When this point Is
reached there will be no demand for Il
as an article of merchandise, and the
| owner Will undoubtedly return II 10 the
uahk from which he drew II. IL seems to
me our people generally do not appreciate
lne great harm that Is being done by thc
tonunu9us withdrawal OF money from the
pahks mat L may he honrled In safety
deposit vaults or in places less secure.
me harm done Il not alone 10 the hank.
put 10 every department Of business: In
jury Is wrought and ultimately Il strikes
NY very person who has battered him
ser that he has made himself secure by
MS precautionary measures In taking his
money. from the active channels Of trade
and placing Il where Il can either rot
or grow monldy through inactivity Ii
Inc Workingmen of the country, farmers
ana others draw their deposits from M
ilonul, savings and other banks In the
Immediate future as they hnvu recently
they will bring about their own financial
embarrassment. for labor and produce
cannot be hnd II the owners thereof insist
upon boarding H.
because Of this boarding the efforts
now being put forth by the government
anu me banks have not as vet made the
impression upon the public mind which
must ultimately result from them A
pcrcephhle charge should he apparent
shortly, for within the coming week more
currency Will be issued upon bonds de-
posted 70 sccur' the circulation by banks
than in the same period OF time for some
years, The showing for July In this
regard was considcrd quite remarkable
the increase having been over S5.5OO.OOO
but August ought 10 double this increase
Already this amount has been passed and
the month Is not half over. The large
orders Of the first days of the month
VIII be filled this week the bonds having
been deposited. aud the bureau VI on.
craving and printing having by extra
labor reduced the time OF printing the
1'AHA- AANAl lAlANA hAAN 10 lulFlffu UNA
Much OF this new currency will 90 10
New York, Philadelphia and Boston,
though other cities and towns will receive
considerable amounts.
ut cannot but have a rcassurlng effect
upon the public to know TINT from Aug
] to II -S2.&,dOS,25O Of currency was
ordered printed, bonds to the amount Of
ST., III $50 deposited 10 secure crcnla-
ton, and currency to tho amour; Of
S5,5I5, 30 actually sent from the comp
troller'S Office. When to this added the
fact that twenty millions In gold Is or
dcred from abroad and soon must he here.
there Is certainly good ground for hope Of
relief from q condition which is wholly
the result OF unreasonable fear 1t might
be just as well II the money hoarlors
desire to sell their money at profit TO
study these figures and get their money
upon the market Mt once. for within d
very brief period II will be su much Of
q drug through over supply that the pre-
MUM upon It will entirely disappear
The condition which hampers the va.
rious interests Of the country being an
abnormal one, many means which. under
right conditions. wOuld not lie called into
action have. through the very necessity
Of things, been resOricl to, Tins In the
large cities unusually large volumes OF
clearinghouse certificates have hcrn N.
sued, while In others certified checks have
been made TO supnlani the currency
whici Is being Improperly diverted from
business channels When the business
interests Of the country are again per
mitted to have the money that has been
withdrawn from them by scared lepositorE
all these Inconvenience. Of which thure
Is now so much complaint, VIII disaIl-
pear and with them the artificial methods
which the people themselves have CON.
PEELED the banks Of the country to re
sort to- Tho people in large measure,
can give the relief needed by unlocking
their deposit vaults, mtielng their old
stockings and making the banks Of the
country the places for the deposit Of
their money instead Of their beds and
cellars. II they refuse TO do this they
certainly ought not 10 complain of IN
conyenicnces- which they can but will
not remedy"