The Cooperstown courier. (Cooperstown, Griggs Co., N.D.) 1902-1913, 1904-10-20
SUPPLY OF HONEY

SUPPLY OF HONEY
I.crsase Of slls.ooo. 900 siacs Jaa. I. a.s
10000 900 . Month Tor
Eight Years.
The total stock of money in the
United States increased from 81, 1885,
1926 on Jan. of this year to g.
S29.273.316 on Sept. 1. or more than
$66, 100000, and the money in actual
circulation, which was &2,466, 345,879
at the beginning of this year, rose to
f2,55S, 279.9s4 on Sept. 1, an increase
of nearly $112,OOO,OOO. On the latter
date the per capita circulation had in
creased Just 81 since the first of jan
uary.
This illustrates how the country is
continually, and, according to the very
latest figures, gathering increased ben
efits 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, confidence and real wealth in
crease from wholesome policies that
bring wealth to the country and also
bring the best money of he>w6rld-
gold-to the country to represent that
wealth. In Democratic 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 clearing house
banks OF New York city increased dur
ing the eight months ending Aug. 81,
&343, 600 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-
rroller Of the currency calls attention
to the enormous increase of 1O5 per
cent. in the deposits of the banks of
the whole country between 1893 ana
1903.
National bank notes outstanding
have also been increasing continuous
" for more than year, and especial
" since Jan. i. On Aug. /, 1908, the
outstanding national bank note circn-
lation was $417,346.4s7. BY Jan. 1,
1904, it had reached S425, 163, GOO,
and on Sept. /, $452,516,0OO.
Since August, 1902, national bank
circulation has been higher than
at any former period. Previous
to that date the maximum point
was $780,, 100000 in 1882, and the
minimum was $167,577,214 in 1891.
National bank note circulation is ap-
proximately s30O,O00,O00 greater than
at the low period, and it is likely to
increase further.
The total deposits of Chicago banks
on Sept. 6 and Z We're the largest in
their history. The Chicago National
banks, in response to the controllers
call for statement Of condition on Sept.
6, showed total deposits of $296,57O,-
GEO, as against 1886. $50 on June 8
of this year and against $262,797 1896
on Dec. 10, 1901. Chicago state bank
deposits OH Sept. Z were $277,O59, 4O3,
as against $2G6. 1872 CAB on June 10 of
this year, and as against $209,794,-
e27 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
and the present unsatisfactory indus
trial conditions of the country, seem to
demand political change"
If there were such apprehension
could deposits increase in this remark
able way? AS matter of fact, 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 absurdity Of the
Davis calamity argument.
The total increase in our volume OF
money during the past eight years was
81 ola, 716,561 annual increase, $780,
SS9,57O; increase for each month dur
ing the last eight years. $1O,569, 100:
an increase for each day during the
last eight years of $685., 3N.
This statement shows that during
the last eight years, over seven Of
which have been under Republican adj
ministration, the increase in the VOL
ume of the currency has amounted to
1862, 3O4 for each day of Republican
administration, or more than $4,000
600 for each month. -~.I.- -
Baseless Charge.
The charge that Mr.. Roosevelt is IAN
unsafe man. is disproved by history.
He wasgovernorof New York for full