The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1895-05-02
PROSPERITY SICNS|
Revival Of Business Indicated
by Developments at the Ma.
tional Capital.
INCREASED BANK CIRCULATION,
Establishment of New National
Banks and Other PromiS-
ing Features.

WASHINGTON, May 2.-The revival
of business activity and the return of
prosperity in the United States are in
dicated by several developments at the
capital during the past few weeks in
quite as striking manner as by the
increase of prices and of the volume of
business in the country at large.
There are several branches of the pub
lie service which afford pretty accurate
barometers of the condition of business.
and they have all indicated during the
last month a pressure growing constant
" more favorable. One Of these indi-
cations is the rapid increase in national
bank note circulation during March
and April. The circulation was in
creased during the panic of 1898 to
meet a temporary emergency, and the
long period Of dullness which followed
led to decrease of the circulation in
consequence Of the accumulation of idle
capital in the banks and the disinclina-
ton of investors to embark in new en-
terprises.
The increase in the secured circula-
ton during March was 81, 1862, ,321. and
the aggregate circulation was carried
up to 1907, $50, 144. The advance during
April has been equally marked, and in
dicates an
Increase OF Nearly S4.OOO,OOo
in the secured circulation of the month.
The aggregate circulation on May
will probably exceed $21O, 600, 900, and
will be larger than at any time since
July, 1889, when the process of reduc-
ton had been steadily going on for five
years. The bonds on deposit to secure
circulation at the close of last week
possessed face value of $202, 937. $50,
as compared with $l97, / 16, 200 on Feb.
2S, and $20l, 176. roo on March 81. The
bond deposits do not always coincide
exactly with the circulation, as they
are required to be deposited before the
circulation is issued.
Establishing New Banks.
An even more striking proof of re-
yiving business activity is afforded by
the applications for authority to estab-
lish new national banks which have
recently been raining upon the comp
troller of the currency. The number
of new banks organized, which ran as
high as 3O7 in 1890, fell to minimum
during the panic and many applications
made in the spring of 1898 were with
drawn or abandoned. The whole num-
Der of banks organized during the years
covered by the comptroller's report,
ending Oct. 81, 1894, was only so,
smaller than in any year since 1879.
The banks organized during the six
months which have now nearly closed
since the last report have numbered IA,
and the applications now pending and
awaiting action are 81.
Stamped Paper.
Anather indication of the expanding
volume of trade is afforded by the is
sues of stamped paper by the postoffice
department. The term stamped
paper is the technical designation at
the department for postage stamps, en-
velopes and all forms of postage. These
issues were larger during the quarter
ending March 81, last, than for any
quarter in the history Of the govern.
ment, exceeding by about $3.50, 900 the
largest preceding quarter, which ended
March 81, 1898, at the period OF the
greatest expansion before the panic.
Mr.. Hazen, who served for many years
under the Republican administration as
third assistant postmaster general, and
was retained because Of the value of
his services more than half of Mr..
Cleveland's first term, demonstrated
after the depression Of 1884, by an
elaborate series of statistics, that the
sales of stamped paper fuctuated al
most exactly with the state Of business.
Little Gold withdrawn.
The restoration of confidence in the
treasury since the conclusion Of the re-
cent bond contract is indicated, in the
opinion of the treasury officials, by the
falling off in the presentation Of gov.
ernment paper money for redemption
in gold. 1t was these redemptions-
which ran as high as 81, 155, ,046 on a
single day in January, and averaged
about 81, 500, 900 for the last 10 days be.
fore the announcement of negotiations
for the bond issue-which reduced the
treasury gold reserve on Feb. ii te
$4l, $685. ,2l2, and threatened to compel
suspension of gold payments at the
New York sub-treasury. These re-
demptions dropped to IS, 800, $50 in Feb
.ruary, the larger part taking place be-
fore the conclusion of the contract, and
dropped during March to $1,2l9,037
Tie figures for the first IS days of Apri
have been only 1886, $50, and but 70,
one or two special demands for expor,
to South America or Canada, wouli
have shown still smaller total.
Reunion OF Veterans at Ortonville.
ORToNyH.LE. Mimi, May Frank
P. Blair Post, G. A. r., No. SO, of this
city is making arrangements for re.
union Of old veterans to take place June
1921. A general invitation is extended
to all old soldiers, and as spe ia. rates