Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1900-03-21
COUNTED BY BILLIONS
The CO6DENITE AND sRYANiTE
THEORIES UPSET SY FACTS.
This Country Has Passed the Two
Billion Dollar Mark Alike in Its
Foreign Trade aud in the Amount of
Money in Circulation.

Billion Dollar Mark Alike in Its
Foreign Trade aud in the Amount of
Money in Circulation.
The United States has reached the
two billion dollar mark alike as 10 its
foreign { immerce and its yolu. &c of
money ia circulation, This is an I'M
pleasant fact for two classes VI theo-
risrs IL is unpleasant for free traders,
because the development Of our trade
with foreign nations up 10 and beyond
the two billion dollar mark knocks the
life out of a cherished free trade belief
and shows that the free-trader was
hopeiessly, absurlly al fault in his con
tention that a protective tariff was In
tai to foreign trade expansion Equally
unpleasant indeed actually distressing,
is the fact of 4 two billion dollar volume
Of money in circulation to those who
have based all their political hopes aud
ambitions upon the effort to show that
''l6 to /" was the only thing that could
make money plenty and cheap.
Curiousiy enough, the facts that make
both the Cobdenites and the Bryanites
look silly are the product of a single
month OF yhe history of the United
States der Mckinley and Prosper
ity." On the 14tli of January of this
year II was announced by the Treasury
Bureau of Statistics that IN the year
1899 our foreign commerce had crossed
the two billion dollar line, while on the
LIST of February the Treasury Bureau
of Loans and Currency made known
the fact that the total money In circu-
latl0n had also crossed the two billion
dollar line, while gold and gold certifi
Gates alone had crossed tue 500 million
dollar line The total foreign commerce
Cor the year 1899 was S2074.345, 242,
while the total money in circulation on
Feb. was $2,003, l49. 355. The use of
ten figures with which to show the
business conditions of the country is
indeed becoming surprisingly frequent.
The tables of the December summary
of commerce and finance show, for in
stance, the total resources OF national
banks at S4,4IJ,343. 924; the latest re-
port of the Comptroller of the Currency
shows the deposits In savings banks to
be 81 80, ;l66,Hd4; the total resources Of
all banks in the United States are given
by t1e same report as $5.t96, 1T7.3S1,
and the latest number of the summary
of Commerce and Finance shows the
December Clearing House returns of
all cities outside of New York at $3.0t2.
S96.144. and those of the city of New
York at S5.34S.2s5 .sGT.
The announcement that the money in
circulation in the United States has for
the first time crossed the two billion
dollar line also calls attention to the
fact that the amount of money for each
individual is greater to-day than ever
before. The Treasury Bureau of Loans
and Currency publishes each month a
statement of the amount Of money in
circulation. and by combining with this
the actuary's estimate of population
presents monthly statement of the
amount of money IN circulation per
| capita. This statement puts the popu-
| latlon on Feb l. 1900, at 77.1l6,o00, the
money In circulation at S2.003, 1885.
/ and the circulation per capita at S25 .9S.
This gives a larger per capita than in
any earlier month In the history Of the
country On Feb. 1, 1899, it was $2J.42,
on Feb. /. 1898. SOB ~: on Feb. /. 1897,
S23 .05, and on Feb. /, 1896. $22.47.
No period in our financial history has
shown a more rapid growth In the
amount Of money in circulation than
THAT covered by the past three or four
years. The total money in circulation
to-day is 81 per cent. greater than at the
| beginning OF the fiscal veai 1897, and
the gold and gold certificates in circu-
iation 81 per cent. grea;er than ~ that
time, the actual increase in money in
circulation during that period being
| $i93. A24, 100. and Of gold aud gold Ger
tifcates 1905, $4,000, practically two
| thirds Of the increase, therefore, having
been IN gold
Thefollowing table shows the amount
| of gold and total money in circulation
at the beginning of each quarter Of the
fiscal year. from July !, 1896, to date;
Gold fcoin