The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1904-10-14
THE SUPPLY OF MONEY
Increase of $4,000, 900 Since Jan.
Land 100000 Month for Eight

| increase OF 6llX,OUO,OOO since JAM
Land $4,000, 900 Month for Eight
Years.
The total stock of money in the Uni
ted States increased from $2,7G3, 152, :
326 on January of this year to $685.
213,316 on September 1, or more than
$66,OOO,OOO, and the money in actual
circulation, which was $2,466,345,879 at
the beginning of this year, rose to ST.
55S,279,9S4 on September /, an increase
of nearly $112,00O,000 On the latter
date the per capita circulation had in
creased just one dollar since the first Of
January.
This illustrates how the country is
continually, and, according to the very
latest figures, gathering increased bene-
fits from Republican policies. 1t shows
the folly of the free silver argument for
which Parker and Davis voted in 1896
and in 1900, since it demonstrates that
money supplies increase not as more
money may be coined, but as credit, con-
fidence and real wealth increase from
wholesome policies that bring wealth to
the country and also bring the best
money of the world-gold-to the coun-
try to represent that wealth.. In Demo-
cratic times not only was the United
States hindered from producing wealth,
but the best money to represent wealth
-gold-was driven out instead Of being
invited in, owing to the famous Gresham
law that bad money drives out good
money.
The deposits of the clearinghouse
banks of New York City increased dur
ing the eight months ending August 81,
43,OOO,OOO as one result of the pie
thora of money, and money on call loan
ed as low as one-half of one per cent.
A recent bulletin issued by the con-
troller of the currency calls attention
to the enormous increase of 105 per cent.
i'll the deposits of the banks of the whole
country between 1893 and 1908.
National bank notes outstanding have |
also been increasing continuously for
more than a year, and especially since |
the first Of January. On August /, 1903, |
the outstanding national bank note cir
culation was $417,346,4 S7. BY January
l, 1904, it had reached 1925, 1853 900, and
on September l, $452.516,OOO. Since
August, 1902, the national bank circu-
lation has been higher than at any form
er period. Previous to that date the
maximum point was 1852, 100000 in
1oo2, and the minimum was $167,577,214
in 1891. National bank note circulation
is approximately $3O0,0OO,OOO greater
than at the low period, and it is likely
to increase further.
The total deposits of Chicago banks
on September 6 and We're the largest
in their history. The Chicago National
banks, in response to the controllers
call for statement of condition on Sep
tember 6, showed total deposits of $780,
57O,660, as against $685.. SOS, $40 on June
of this year and against 1892, 797 1886
IN December 10, 1901. Chicago State
bank deposits on September were
S277 ,O59, 403, as against $266, 392. 643 on
June 10 of this year. and as against
300, 794,S27 ON July "a. 1902.
Henry G. Davis said in his speech
accepting the Democratic nomination for
Vice President: THE apprehension
which now prevails in business circles
Ind the present unsatisfactory industrial
conditions Of the country, seem to de-
nand political change"
IL IueIc WcIt SuCH | ,
'ould deposits increase in this remark
lble way? As matter of fact, con-
lition of business apprehension" will
llways quickly be followed by runs on
,anks and rapid shrinkage of deposits,
Ind the very fact that deposits are now
breaking all previous records proves the
ritter absurdity of the Davis calamity
lrgument.
The total increase in our volume of
money during the past eight years was
'l,014, 1861; annual increase, $780,
'39, $40; increase for each month dur
ng the last eight years, S1O,569, 1870; an
Increase for each day during the last j,
light years of $685., 1904
This statement shows that during the
asst eight years, over seven of which =,
AVE been under Republican admins
ration, the increase in the volume of the
urrency has amounted to $352,3O4 for
ach day of Republican administration, :
r more than $10,OOO,OOO for each month. =