Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-04-11
1T WOULD COME FROM THE PEOPLE
OF THIS COUNTRY.
A LARGE GOLD CIRCULATION.
NEVER BEFORE SO MUCH MONEY IN
THE HANDS OF THE PEOPLE.
They Are Amply Able to supply All
Necessary War Funds, to He
Gathered Either by Tax.
alton or by q Loan,
or Both.


IL war is to occur? That war is costly
! undertaking. counted even in cold dollars.
goes without saying and Is evidenced by the
fict that a pretty large share of the S1.OJ.-
90 appropriated for the mere matter OF
momcntary preparation has been already
expended or its expenditure authorized.
Luckily. the people of the United States
are to-day in better condition to supply
the money necessary for event OF this
character than on any former occasion.
The money in circulation in the United
States to-day Is more than ever before. 1t
has increased s2i6, 3:33s AS in the twenty-ono
months since the Chicago convention took
the ground that the money OF the country
could not increase materially without free
coinage OF silver, and stands to-day at
high water mark" treasury state
ment just issued shows that the money
in circulation in the United States at tho
beginning of the present month was sl,-
i5Go5S, ,G4o. a sum greater than ever shown
| in any of the monthly statements on this
subject by the government. More than
thar, gold in circulation-"coward gold'-is
to-day, in the face of the war rumors and
almost war certainties, greater in quantity
than ever before. 1t increased during the
| month of March in the teeth Of the war
blasts nearly million day. the actual
gain for the month as shown by the treas
| ury figures being s2s, ,2ii,es0 while the totai
! increase in the money in circulation dur
| ing the month was 81. .6sl, ,9s6. Never before
in the history of the country has there
been as much money in circulation or as
much gold in circulation. as shown by the
official figures of the treasury. as to-day.
Thus the people of the United States are
! row better able to supply the money nee
essary for a war fund, whether it is gath
,h.v, NO. h.r
| loan, or both, than ever before in the his
| tory Of the century. The total money in
| circulation on April 1 was. according TO the
treasury figures LOO O53 .si5. while the lat
! est statement of the treasury department
| shows the "ayaiia BILE cash balance in the
| treasury. including gold reserve" 10 be
| $22J OU00O.
Whether the money shall be raised by
| additional taxation or by popular loan. or
| both, it could, and doubtless would, come
| from the people of the United States, sup
piled. as they are to-day, with more money
| In circulation than ever before. The tax
on beer now brings TO the government
about s3s.G00.o10 per annum: that on to-
bacco about s30,eg,0co. and that on spirits
over ss00o0,G0, total from these three
| sources of nearly $lJo.00o0oe. These three
| articles, II the tax were temporarily
| doubled upon them as a war measure.
would put into the treasury an average OF
81. 90 90 per month in addition to pres
ent receipts, which are sufficient to meet
its ordinary expenditures. The money ex-
pended in a war would be. practically. all
of 1t distributed among our own people.
except possibly in cases Of emergency pur-
chases abroad of war vessels and war
supplies, so that the process Of obtaining
money from the people, either by taxa
ton or by loan or BOTH and again dis
fTi In IN he aH
| lures for war material and supplies. woul!
not have the effect OF reducing the stock
OF money in the country upon which the
| government could draw, and il could rely
upon its own people to respond to its
| appeals. whether through taxes or popu-
lar loans.
| The contrast between the financial con-
| dition Of the country to-day and that when
| it fairly entered upon the war in 1852 Is
strongly marked. Then the money in cir
culation was less than s359.0o.6o. or ore
| fifth of what 1t is to-day and the amount
per capita si0.36 against s23.69 per capita
to-day, as shown by the latest statement
Of the treasury department. The money
in circulation to-day is more than double
what it was in April. 1879. while the fact
that the latest report OF the comptroller or
| the currency shows larger sums on deposit
in the national banks than ever before in
the history OF the country indicates that
the people are in a condition to respond 10
calls for loans to the government should
occasion requires such call. Official reports
Of the government also show the deposits
in savings banks to be in amount greater
than in any other period in the history Of
the country. while the fact that govern
ment bonds drawing low rate of interest
are selling far above their face value even
though redeemable within & comparatively
short term of years. shows that the desire
of the average citizen TO invest his money
in government securities Is general and
strongly marked ard that a call upon the
people Of the country fer funds. in case
cf need for war purposes. would be
promptly and generously met from the un-
usually large sum OF money now in circu-
lation and the unusually large amount
deposited in the banks of the country
The following table showing the amount
of gold and the total amount of money Of
all kinds In circulation on the LIST day OF
each month since July !. 1885. is especially
interesting at this time. showing as II does
not only the increase in gold and generaf
circulation since the financial declarations
Of the Chicago convention but at the same
time the fortunate financial condition Of
the country at the present moment In ease
of the necessity for raising war funds
among ft' own people. The figures are
taken from the official records of the
treasury department.
Nal