The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1904-10-21

Aassase sS u 10. ., 600 ssxSS Jan. 4 ~ -
eio. ooo.ooo = Month sss

iS.5 "
Aassses ss 81 u .o0s, 600 saxs, III :, 81 -
eio. 1000 ~ Month ass
Eight YsarA.s & N ;5S5
TIC total stock Of money IA, the
United States increased from So, 7e3,-r
l62,S28 on Jan. Of this year to 3d. So
s29,2T3,316 on Sept. I, or more than
e66, OO0,0 eco, and the money in actual
circulation, which was $2,46G,345 SIS
1t, the beginning Of this year, rose to
2,55S, LOS on Sept. I, an increase
Df nearly SIP. 100000. On the LATTER.
late the per capita circulation had In
:reased just 81 since the first Of Jan,
uary. II Il
This illustrates how the country 10
continually, and, according to the very
latest figures, gathering increased BEN
Fits from Republican policies. 1t shows
the folly of the free silver argument
tor which Parker and Davis voted in
1896 and III 1900, since it demonstrates
that money supplies increase not as
more money may be coined, but as
sredit, confidence and real wealth In
crease from wholesome policies that
bring wealth to the country and also
bring the best money of the world
gold--to the country to represent that
wealth. In Democratic. times not only
vas 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 clearing house
banks of New York city increased dur
Ing the eight months ending Aug. 81,
F343 100000 as one result of the pie
thora of money, and money on cali
loaned as low as one-half of per cent.
A recent bulletin issued by the con-
troller Of the currency calls attention
to the enormous increase of 1O5 per
cent. in the deposits of the banks OF
the whole country sbetween 1893 and
1903.
National bank notes outstanding
have also been increasing continuous
ly for more than year, and especial
" since Jan. 1. On Aug. /, 1903, the
outstanding national bank note circu.
lation was $417,346,4s7. BY Jan. l,
1904, it had reached 1925, 1853 900,
and on Sept. 1, $452,516,OOO.
Since August, 1902, national bank
circulation has been higher than
at any former period. Previous
to that date the maximum point
was 1862, 100000 in. 1882, and the
minimum was $167,577,214 in 1901.
National bank note circulation is ap-
proximately $3OO,OOO,COO greater than
1T the low period, and it is likely to
Increase further.
The total deposits Of Chicago banks
on Sept. 6 and were the largest in
their history. The Chicago National
banks, in response to the controllers
call for statement of condition on Sept.
8, showed total deposits of 1926, &c.,
eco. as against $2S5, 69S.s2O on June y
Of this year and against $500, 1877 1856
on Dec. 10, 1901. Chicago state bank
deposits on Sept. were $277. O59, 403,
Is against s266, 1902 ,643 on June 10 Of
this year, and as against $2C9. 1884,
ST on July "a, 1902.
Henry G. Davis said in his speech
accepting the Democratic nomination
for vice president: 1.-THE apprehension
which now prevails in business circles
and the present unsatisfactory indus
trial conditions Of the country, seem to
demand political change"
II there were such apprehension"
could deposits increase in this remark
able way? As matter Of fact, a con-
dition Of business apprehension" will
always quickly be followed by runs
on banks and rapid shrinkage Of de-
posits, and the very fact that depos-
It's are now breaking all previous rec
ords proves the utter absurdiy Of the
Davis calamity argument.
The total increase In our volume OF
money during the past eight years was
S1.014, 1861: annual increase, $780,
S39, $50; increase for each month dur
ing the last eight years. $1O.580. 1sO;
an increase for each day during the
last eight years Of $8sa.s04.
This statement shows that during
the last eight years, over seven Of
which have been under Republican ad-
ministration, the increase in the voi-
ume Of the currency has amounted to
t352,8O4 for each day Of Republican
administration, or more than $4,000
600 for each month.
Bassless Charge.
The charge that Mr.. Roosevelt 10 "an
unsafe man. rs disproved by history.
He was governor New York for full
term and has been president three