The Superior times. [volume] (Superior, Wis.) 1870-1912, 1904-10-15
SUPPLY OF MONEY
herease of SIl2, 2,ooo,OCo Since Jan. I, anA
sI0,OoO.ooO a Month for
Eight Years,

Tho total stock Of money In this
United States increased from 2,.6S,-
i5252G on Jan. ! Of this year to S.
s29,@I3,$lG on ScpI /, or more than
FG6uGo,uUo, and the money in actual
arcuIs ton which was N2,4ti6.345,ST9
n Jhc beginning Of this year rose TO
t-,J@N.4T9,9NI ON Sept. !, an increase
D nearly $ll2HOuUu. On the latter
sltr the per capita circulation had in
/ ,r,aSrd just 81 since the FIRST OF Jam
lary
This illustrates how the country 10
continually and, according to the very
attest figures. gathering increased ben
aEls from Republican policies. II shows
he folly OF the frc" silver arsument
Tor which Parker and Davis voted in
iSgG and IN 1900. since il demonstrates
that money supplies increase not AZ
more money may be coined. but as
credit, confidence aud real wealth in
;Trusc from wholesome policies that
bring wealth TO the country aud also
bring the best money Of the world
gOld--to the country 10 represent that
wealth. In Democratic times not only
vas the United States hindercd from
producing wealth but the best money
TO represent wc<h--gold--wa 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 or New York city increased dur
tn- the eight months ending Aug, 31s
S@I&uuOOuO ny one result of the pie
thora of money, and money on cali
loaned us low as onch0lf of per cent.
recent bulletin issued 10y the con
troilrr ~ tNp currency calls attention
10 the enormous increase OF luJ per
cent. In the deposits oi the banks or
the whole country between 1893 and
l9O&
National hanl notes outstanding
have also been increasing continuous
~ for moro than u year, and especial
ly since Jan !. ON Aug. !, 1903, tho
outstanding national bank note cjrcu-
lation was S4lI,3iG4SI. Ey Jan. i
1904 it had reached $i25, lG3, 900
and on Sept l. Sl52,5lG,o0o.
, Since August 1902 national bank
circulation has been higher than
Bt amy former period. Previous
, TO that date the maximum point
was %'G@ 10000 in 1880 and tho
minimum was S1G75172i in 1901.
| National bank note circulation is ap-
proNimatcly $500 UOOUOO grenter than
al tho low period, and il is likely TO,
Increase further.
The total dc, ,sltS Of Chicago banks
4 on Sept G aud were the largest ia
their history The Chicago National
| banks, IN response to the controllers
! call for statement OF condition on Sept
g. showed total deposits of s296,51o,-
gGO as against $3.50, ,G9Ss2O on June 9
| Of this year and against $262,Tg7. .93e
| on Dec 10, 1901 Chicago state bank
/ deposits on Sept Z were S2TT .O59.4O9,
| as against $2GG 392 .6i3 on June 10 OF
this year, and MS against $780, 1874.
81 on July II, 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 10
demand political change
! II there were such apprehension"
could deposits increase IN this remark
able way? AZ . matter OF fact. con
dtIOn of business apprehension win
ulWays quickly he followed by runs
on banks and rapid shrinhage of de-
rosi,s, and the very fact that dcpos,
lts are now breaking all previous rec
orls proves the utter ahvurdIty OF the
Dayi, calamity argument
The total increase IN our volume or
money during the past eight YEARS was
SIulI7lG.1G1 annual increase $l2G,
$500, increase for each month dur
ing the last eight years, Sl0,5oa l3u;
an increase for each day during tbs
last eight years Of S@52 &0t
This statement shows that during
the last eight years, over seven Of
which have been under Republican nd-
mnistraton, the increase In the vol
umo OF tbu currency has amounted to
So .30I for each day OF Republican
administration, or more than $4,000
UUU for each month.
Democratic legislation has never
erected factory or given working
man a Job or increS sod his wages. Or
the contrary 1t has put out factory
Gres that Republican legislation ha
lighted. Il has closed mills that Repub-
Iican legislation had opened, and 1t bas