Omaha daily bee., 1902-09-25
PLENTY OF MONEY IN WEST
No Necessity to Draw on New York fer
Cash TO Move the Crops.
PRECAUTIONS AGAINST STaNeENcY
Bank Deposits Of the Country Are
over Twice Rs Great Hs Ten
Years Ago and Four Times
Greater Than I'm 1882.

WASHINGTON, Sept. g4.-(special)-of-
hcials Of the treasury believe. the plans
adopted by. Secretary Shaw to prevent a
money stringepcy will prove effective and
that there will not be any important dis
turbanee Of the financial situation. The
secretary from the beginning has taken the
position that the disturbance was entirely
local to New York and that there was an
abundance Of funds In the west TO meet the
demands due to the movement Of the crops,
This position has been strengthened within
the last few days by reports from western
bankers that have been received at the
treasury, informing the secretary that the
banks throughout the west had more money
than they could loan and that they did not
need or desire an increase in their treas
ury deposits. An official OF the treasury.
who has made a careful study Of present
financial conditions, said today:
The money scare in New York was
only a furry and IL does not affect The
financial condition of the country generally
in the slightest. Not only has the country
grown rich, but It is growing richer. Great
crops insure another year of prosperity.
Activity is the rule in every branch Of
trade. The main trouble lie that the trans
portation facilities, splendid as they are,
are scarcely adequate to move the business
pressing upon them. The country has
actually grown faster than its machinery
for moving the crops and manufactures
THE coal strike is, indeed. a serious
matter, entailing large losses and creating
an ugly state OF feeling. But it is clearly
nearing its end and with its passage the
only cloud on the horizon will have been
dispelled. The prices at which good, safe
dividend paying securities are. selling seem
bright, but it is a question whether these
prices, high as they seem, are not justified
by conditions. 1t is true there has been
a great output OF new securities, but there
has been an equally great absorption OF
them. The better class of bonds arc
scarce. The same is true of the high-class
stocks. Thus 1t Is the margin left for
speculative purposes is not so large as to
prevent manipulators from advancing
prices to fabulous figures. The prosperity
Of the country has made people rich and
they are investing their surplus in securi-
ties more with an eye on dividends than
on the price of the securities. There is
absolutely nothing to cause apprehension
in financial and commercial quarters"
4 Big Bahk Deposits.
The bank deposits. Of the people OF the
United states aggregate $500, 0OO, 900, an
average of sos per capita. Ten years ago
they aggregated s4,2S2, 900. 900. or Just halt
the amount Of today, and twenty years age
they were $1,000 100000, or a little more
than one-quarter of those Of today.
These figures are presented in a table
just prepared by the treasury bureau OF
statistics for publication In the torthcom-
ing issue Of its monthly. summary OF com
merce and finance. They are compiled from
the reports Of the comptroller of the, cur
rency and include the deposits in national
banks, savings banks, state banks, loan
and trust companies and private banks
and cover the ofzcials neares of the year
1901. The figures for the various classes
of banks stand as follows: