The Globe-republican. [volume] (Dodge City, Kan.) 1889-1910, 1900-04-12
COUNTEDBY BILLIONS.
ANTI PROTECTION THEORIES
UPSET BY FACTS.
This Country Has Passed the Two
Billion Dollar RIark-AIixe in It's
Foreign Commerce and In the Amount
OF Money In Circulation.

OF Money In Circulation.
The United States has reached the
two billion dollar mark alike as to its
foreign commerce and its volume of
money in circulation This is an
pleasant fact for two classes of theo-
rists. 1t is unpleasant for free-trad-
ers, because the development of our
trade with foreign nations up to and
beyond the two billion dollar mark
knocks the life out of cherished free
trade belief and shows that the free
trader was hopeless1y, absurd1y at
fault in his contention that a protec-
tive tariff was fatal to foreign trade
expansion. Equally unpleasant, in
deed actually distressing, is the fact
OF two billion dollar volume of
money in circulation to those who have
based all their political hopes and am
billions upon the effort to show that
tt16 to T. was the only thing that could
make money plenty and cheap
Curious1y enough, the facts that
make both the Cobdenites and the
Bryanites look silly are the product of
a single month in the history of the
United States under Mckinley and
Prosperity" On the 14th of January
of this year it was announced by the
treasury bureau of statistics that in
the year 1899 our foreign commerce
had crossed the two billion dollar line
while the 1st of February the treas
ury bureau of loans and currency made
known the fact that the total money
in circulation had also crossed the two
billion dollar line, while gold and gold
certificates alone had crossed the 800
million dollar line. The total foreign
commerce for the year 1899 was 81
074, 345, 242, while the total money in
circulation on February 1 was $2,OO3,-
149, 355. The use of ten figures with
1xyIi To CHI hI1c
of the country is indeed becoming sur
prisingly frequent. The tables of the
December summary of commerce and
finance show, for instance, the total
resources of national banks at $4,475,-
343, 1924; the latest report of the comp
troller of the currency shows the de-
posits in savings banks to be 81 ,23O,-
366, 1854; the total resources of all banks
in the United States are given by the
same report as $5,196, 1T ,381, and the
latest number of the summary of COM
merce and finance shows the December
clearing house returns of all cities out
side of New York at So, OH, $50, Ia, and
those of the city of New York at So
34S, 285, S67
The announcement that the money
in circulation in the United States has
for the first time crossed the two bill
lion dollar line also calls attention to
the fact that the amount of money
for each individual is greater today
than ever before. The treasury bu
reau of loans and currency publishes
each month a statement of the amount
of money in circulation, and by COM
bining with this the actuary's estimate
of population, presents a monthly
statement of the amount of money in
circulation per capita The statement
puts the population February 1,
1900, at 77,116, 900, the money in circu-
lation at So, 003, 149,355, and the circu-
Iation per capita at $25.98. This gives
a larger per capita than in any earlier
month in the history of the country
On February /, 1899, it was $25.42, on
February 1, 1898, 1924 on February
1, 1897, $23.O5, and on February L, 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 cir
culation today is 33 per cent greater
than at the beginning of the fiscal year
1897, and the gold and gold certificates
In circulation 81 per cent greater than
at that time, the actual increase in
money in circulation during that pc
Rod being $493, 424 ,155, and of gold and
gold certificates s305, 1856 900, practical
ly two-thirds of the increase, there
fore, having been in gold
Inc Following CaDle SHOWS the
amount of gold and total money in
circulation at the beginning of each
quarter of the fiscal year, from July 1,
1896, to date:
Gold (coin
and certifl- Total
cates) in money in
circu1a ton. circulation
date Dollars Dollars.
1se6-Julv 1873 .44e, 242 1909, 725, 200
Oct. 1..517 sos, 129 1852, 3o2 ,2s9
4se7-Jan. .555. $50. SOS 1850, 223, 400
April 4...554, $50. 0e6 1859, 600, 6s4
JuIv i. $50. 432. 5e4 1,646, 02s, 246
oct 564 ee7. 312 1878, $40, 538
1ses-Jan 15s4126o4e 1,7211OO, $40
April L. SIS. AS, 941 1856, o5s. e45
Ju1v ee6 78O. SIG 1s43, ABS, 749
Oct. 65s. o43. 721 1916, 5e6 1892
1se9-Jan. L. 1872. $50, 1872 1897, 301 ,412
April 1..727, 748, 591 1927, Sac, 942
JuIv 734.716.72S 1882, 4S4 ,239
OCT 745. 234.744 1.94S. 7o3, 1856