The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-07-31
Failures for Thirty-Elght Years.

AY EVENING. JULY 3
Failures for Thirty-EIght Years.
Amount of
Year. Failures. Liabilities.
1857 1882 1921, $50 900
1858 1925 95, 749 900
1889 1913 64.394, 900
1860 ..........3,676 $780,, 900
1861 1898 2O7,21O,O 900
1862 1852 23,049, 900
1853 .......... 495 1888, 800
1864 ............... $40 8,579, 900
1865 ............. $50 17,625, 900
1856 1905 SO, 783, 900
1867 .2,78O 96,666,OO
1868 .2,6OS 63,694,0OO
1869 .2,799 75,O54,O54
1870 .3.546 88,242 900
1871 ,915 85,252,OOO
1872 ,069 III ,056,OOO
1873 .5,183 228, 499, 900
1874 $3.50 1856 ,239, 900
1875 ..7,74O POI 100000
1876 1862 191 III 900
1877 .8.S72 19O, 1865, 1886
1878 .1e.A78 234, 1888, 1872
1879 .6.e5S $685. 53
1880 Abs 65.752, 900
1881 1892 81,155,932
1882 .673S 101 ,547 ,564
1883 .9184 172,874,172
1884 ..... .1O968 226 APT
1885 .10,637 124 ,220,321
1886 .........9434 ia, SAL
1887 1884 1877 $50 944
1883 .1O.679 123,829,973
1889 ............10,S8 148,784,337
1890 .1O907 1879 1856, 1854
1891 12273 1S9 1858, 63S
1892 .1O.244 114044167
1893 BAG, 779 ,889
1894 ...13,SG5 172, 1928
1t shows that during the years of
the war, when there was plenty Of
money, and the total volume was con-
fined to what was known as the Union
side of the controversy, making about
$40 per capita, the number OF business
failures was reduced to minimum.
See, as you look at it, see how the
contraction of the currency, beginning
in 1866, increased the failures. Follow
it now along down the years to 1894,
and note it's ravages as characterization
and bank credit, with it's terrible tax
on the people, were substituted for real
money
Defending Banking System.
Mr.. Horr-I must return to the ques-
ton of banks To man accustomed to
doing business at the present time the
present methods of conducting COM
mercial transactions are readily under
stood. That the quantity Of gold in the
world has not increased as fast as the
business of the world has increased 1
admit. But it does not take as much
standard money to do the same amount
of business to-day as it formerly did.
Human ingenuity has devised methods
so that one hundred dollars in gold will
do the same work that more than two
thousand dollars used to do. Hence Mr..
Harvey's contention that the quantity
of the standard money alone determines
its value is incorrect. This increased
| power of gold which enables one dollar
to do the work that twenty or more
dollars used to do diminishes the actual
! demand for the metal itself, and hence
prevents the burden he talks so much
about being anything like in proportion
to the amount of the business done in
[
! entire business of this country is done
without the exchange of dollar of cur
| rency. But it is all done on a gold basis,
with a gold measure for value. While
! the gold is the measure of value the
| business is done by using all kinds of
credit as a substitute for the money
itself. It would be correct to say that,
all other things being equal, the guam
tity of water in a running stream would
measure its value as power to be used
to aid man in the production of COM
modities. Yet the same quantity of
water turning an old fashioned UNDER
shot wheel will not compare in it's bene-
fits with the power obtained from the
same quantity of water when mills are
located along the bank of the stream at
successive falls, and the same water is
used over and over again with turbine
wheels, which take the place of the
undershot, and thus increase the power
in every mill, obtained from using the
same water. Thus it is that the work
which can be done with the same
amount of gold is enormously increased
by our new methods of bookkeeping and
banking But I now come to
the Keynote OF Brother Harvey
entire system. He bases his new
philosophy entirely upon the the
DRY that the people of the world
are mostly in debt. You won't deny that
turning to Mr.. Harvey) 1t does not &C.
cur to him that the debtors and credit
ors, when you speak of sums of indebt-
edness, are always precisely the same
But the number of the debtors and cred
itors differ very greatly in ali civilized
and unciviliZed countries. His whole