The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-11-09
BANKS SHOW PROSPERITY
Individual Deposits Have Reached
Over 1850, 100000 and Are the
Greatest in Our History,

Washington, Nov. SIT is well set
tied that no better evidence is afford
ed of the financial condition of the peo-
pie than the statements of the indi-
Vidual deposits in banks. The people
of the United States use banks for the
security of their money in greater num-
bers, relatively, than do the people of
any other country. Many interesting
figures are contained in the bank state
ments furnished to the comptroller of
the currency during the past few years.
These figures, taken for times of de-
preston as well as for times of pros
perity strongly support the claim that
the condition of the people is imprOv-
ing at the present time. While it is
true that the country has not in these
closing months of 1897 reached the high
standard of prosperity that was at
tanned during 1892, q strong movement
has been started in that direction, and
the cash holdings of the people in bank
deposits afford striking testimony Of
that fact.
As an Illustration of the varying
financial condition of the people the
total individual deposits in the ma
tional banks of the country for sew
eral years are valuable. These depos-
its on September 80, 1892. were $1,76j,-
422 9S3, the highest figure at that time
in the history of the United States.
one year later on October 8, 1898, fol-
lowing the great financial depression
of 1893, they had fallen to $1,451 .124 $50.
During the years 1894 and 1895 they
| tluCtuated considerably. In the heat of
| the presidential campaign of 1896, on
| October the individual deposits of the
! country were 81, 597, $50, ,05S, much lower
than they had been during "a and 95.
| but greater by nearly $50 000 900 than
| they had been three years before. The
! aggregate of individual deposits, just
! compiled by the comptroller of the
! currency from the statements of Octo-
| Der ;, of the current year, shows the
enormous sum of 81 ,S51 1872, 929-a total
greater by $253,3O1,S1 than it was one
| year ago, and greater by $50, 712, 366 than
! ii was on July % Of the present year
| when increased business and renewed
confidence in the financial affairs OF
the country had brought the item Of
| individual deposits up to $l,77O,4 ,4SO, sos
a sum exceeding by more than $4,000.
O00 the immense total of the deposits
on September 30, 1892.
|
tice concerning the return Of prosper,
| ity among the people. 1t will be re,
| called that one of the claims made by
the advocates of the free coinage o.
silver during the presidential campaign
Of last year was that, i'm the event ot
the election Of Mr. Mckinley, golC
would go to a "still higher premium
and that the yellow metal would b,
boarded in the great monetary centres
"to the damage of people who hav,
debts to pay"
Precisely the reverse of these pre-
dicted results is true, At no time II
recent years has gold been so plentiful
and easy of access as it is today. Th
gold holdings of the banks and of tn
National treasury are enormous-vast
ly greater than they were a year ago
The movement Of gold during the pas
year has been towards this country
and within the country il is not bein
: boarded in the money centres, but I
: being distributed wherever it may b
wanted,