Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1898-08-25
BIG GOLD INCREASE
IT GROWS 20 PER CENT. IN LAST
FIVE YEARS,
BANKERS MEET IN DENVER
President ReGdrix Delivers a Highly
Interesting Annual Address Cir
ru.ation IN Past Year, lie Says In
creased Ss,lI Per Capita Gold
Soon Amount to St091 900, 600.

Denver, Col, Aug, ~. The feature
W Tuesday $ session OF the American
Sauker's association was the annual
address of President Joseph {, uend.
rtN, He said in part.
The money circulating in the past
year iarraAsed Sl9i 400, 600. and most
OF IL was god. The per capita circu.
mtion INCREASED $g.l5 for 74,69s 900
people, TWO great harvestS have been
Cashed, and through the car windows
coming here we saw n third getting
ready, Less than per cent of tho
railroad mileage, out OF 20 per cent
in 1894, remains in the hands of re.
ceiyers. Georgia has sold her peach
crop for S2,0oO,000, and Is awaiting
the returns from the watermelon i.
And this is but half the story,
It is no atsy task To create a bank
currency system To tit 70,OOO,0o0 of
people, distributed over an area OF
S,cuu,VuU square miles, and to meet
the diver needs OF different parts OF
our country, and To have the system
administered under national control
through many thousand corporate
banks, Our complex monetary situa-
ton adds to the obstacles To be over
come. We should do all in our power.
by counsel and suggestion, to perfect
the merilorlous measure now pending
IN congress- and to encourage the pre-
waning sentiment II represents, We
have more interest IN a currency sys.
tenn suitable to our needs rs u nation
ana our position among the advanced
nations, than We have IN any profit
ina, may come through issuing N cur
rcncy based upon bank assets, We
haye no interests as bankers to con-
tuuu Tor, against The Common Interest
% every citizen,
"lhu net ealuk. rs on the money In
vested in banking, IN capital ana sur"
plus, do not exceed, as whole, 3
ptr cent. The net EARNINGS In the
year ended june 80, 1897 on the cap.
ital and surplus of the national banks,
we're "a per cent, aad IN Is years
the average net earnings Oh the cap
ital and surplus Of the national
Lanks have been rs per cent, skice
ne beginuing oil The national bank
system 5,Ua5 banks have been organ-
IL d. OF which S,6lI are In operation,
There have been only 36S failures
among national hanks Ia thirty years,
so that mere than thousand banks
have liquidatcd and paid all claims,
the infer nee beng mat they could
not make the business pay The
national banks are ownod by 9Sl,225
shareholders. or these 10l,9ii are
women. The average iavestment OF
each shareholder Is $3.50. over 60
per c Mt. of the share holders OF ma
ton banks own ten shares or less,
Every banker has his eye on the
enormous gold production OF the
world. From figures At haad IT mp
pears that the worlds production OF
gold for 1897 was $40 100000. colnas,
value, and that In less than 10 years
the annual yield has doubled, ard IL
now greater than the combined pro-
ductioN OF both gold and silver was
ten years ago. The estimate Of the
gold production for 1898, based on the
large + turns already in Is $275,00O,-
90 The money stock of gold on Jan
uary i, 1894, In the whole world
was $3.965 800, 900 the supply aecu-
mulated since gold b. gan to be used
as money. The five years production
since, including the estimate for 1898
will, on January |, 1899, be $l,097,'
100000 coinage value, or y per cent.
Of the accumulated gold money stock
Of the world as II stood just five
years before. OF course, large
amount of the annual product oi
gold Is used by the Industrial arts
but, making full allowance for this
the fac remains that the money stocl
OF gold has increased more than q
ptr cent. IN five years. IL the In
crease CONTINUES We have bigger
question than we now appreciate
Delegations from 20 states met
last night and nominated Ave candi'
dates for the executive council Of thu
American Bankers association. Thesf
candidates. whJ Will be voted on bJ
the convention proper are: Charles
r. Hanna, Council Bluffs, la; II. III
Mccoy, Peoria, ILL.,; S. II. Shumaker
Huntington. Pa; Robert McCurdy
Youngstown. o.; A. =. Woodbridge
Austin, Tex.