Blackfoot news. (Blackfoot, Idaho) 1891-1902, 1895-05-04
THE RETURN OF PROSPERITY.
The Many Indications Of an Increase in
Business Activity.

w ASHlNGION, MAY Is-lHe reNlNhl
of business activity and the return Of
prosperity in the United States are in
dictated 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 vol
ume of business in the country at
large There are several branches of
the public service which afford pretty
accurate barometers of the condition
OF business, and they have all indlca-
ted during the last month pressure
growing constantly more favorable.
One of these indications is the rapid
increase in national bank note circula-
ton during March and April. The
circulation was increased during the
panic of 1898 to meet temporary
emergency, aud the long period Of
dizziness which followed led to a de-
crease of the circulation in cOnse.
quence of the accumulation Of idle
capital in the banks and the disiucli-
nation of investors to embark in new
enterprises. The bank note circula-
ton in the United States, being based
upon securities instead Of upon the
general assets Of the banks, is not re-
garded by economic students as being
quickly responsive to business dc
mands, but the fact that il increases,
after long period of declension, in
spite of the scarcity Of bonds and
their high price, is an even stronger
proof of reviying demand for money
than if the circulation was based up
on some more flexible security. The
increase in the secured circulation
during March was So, 1862 ,321 and the
aggregate circulation was carried up
to 1907, 450,144 The advance dur.
ing April has been equally marked
and indicates an increase Of $4,000.
900 in secured circulation for the
month. The aggregate circulation
on May will exceed s21O,OOO,O00, /
and will be larger than at any time
since July 1889, when the process of
reduction had been steadily going on
for five years. An even more striking I
proof Of reyiying business activity Is
afforded by the applications for au.
thority to establish new national {
banks which have been recently rain.
ing upon the Comptroller Of the Cur
rency.
Another indication Of the expand /
ing volume of trade is afforded by the
issues Of stamped paper BY the Post
Office Department. The term stamp
ed paper is the technical designation
OF the department for postage stamps, T
envelopes and all forms of postage.
These issues were larger for the quar-
ter ending March 81, last, than for
any quarter in the history OF the gov.
ernment exceeding by $1,000 the
largest preceding quarter, which end. /
ed March 81, 1893 at the period Of /
greatest expansion before the panic. |
The restoration Of confidence in the
Treasury since the conclusion of the
recent bond contract is indicated in /
the opinion Of the Treasury officials.
by the falli0g off IN the presentation
Of Government paper money for re-
demption in gold. 1t was these re,
demptions--whch ran as high as ST.
10000 on a single day in January
and averaged two million a day for
the last twelve days before the an
nouncement Of the negotiation for the
bond which reduced the gold
reserve on February II to Sal 1893.
ZIP, and threatened to compel sus.
pension of gold payments at the New
York sub.treasury. The tide Of gold
shipments, which for a series of years
has been steadily outward in March
and April, has returned in the direc.
ton Of the United States.