Rocky Ford enterprise., 1904-11-18
THE SUPPLY OF MONEY
I.ss...s Of sii..ooo. 600 STAGE J.a.
i.sad sio.ooo.o 900 I. Meath for Right


Iasse..s sf 10000. 600 stnse Jas.
i,aad siO.ooo. 900 . Meath for Right
Years
The total stock os wsaey in The uni'
ted States decreased fr0m s.,'di.io..'
$50 on January Of Ehis year 10 s-ya-'s-
.s1si.5l1 oA September !. oE more thaa
SlsLoJ1OsD. aai Ihe isousy IN actual
elFcuiaIlon. Whish Sas s..issi5i5Is'p al
the tesinniHs os this y-aF. Eose 10 g.
ssSs, ,.7s,DSl "a September !. an Increase
o. nearly Sil..OOo.aOD On the latter
dE,s the P-T capita circulation bad 1n'
creased just oas dollar slHee the hEs' OF
January.
This illustrates how the e0aRtEy 10
eonIinaaiiy. and. aeesNiins 10 the ssF1
lstesI tsnFes. gathering Increased bsae'
Its fFsm ii-pabileaa policies. II shows
the folly of the fFv~ silver argument lot
v hlrh Parker sud Davis voted In issri
and ia 1870. since " demonstrates that
snsnsy supplies lneF-ase no, as more
nsshsy niny b. colnssi. bu, as credit, sSs''
til-ace aud rial wealth lnerv1s~ tFSen
wholesome policies that bsins wcal'h 70
the eouatFy and also t<ins the best
money ot the Wogii-snli-,o the e"ah'
try TO Evprvs-aI that wealth. Ia Deno.
cratic times not oaiy was the United
States hla,isr~d fFsH producing wealth.
hui the b~.. money to represent wealth
-soid-sas driVsn oat Insi-ai OF being
lnSl,oi In. oNlnE - :a.s famous Gresham
Law tina, bod mgavy drives oct good
mSn-y.
The deposits Of the clearinghouse
Lanls OF Nsw York City laeEvassd dur
Ing the elsh, tnonlhs -ailns Angus; u.
/ >sllauDDUD us ou- resnlt OF the pic
thsra OF money. aud money on call loan
81 a. loW AZ oae,taif Of one per ceH'.
4 y-ccnI isillrtin issued by the eon'
trsiicr of the cuFr~aey calls a'ira'sosi
ts the enormous Increase of 10, per ccn,.
Ia the deposits Of the banks Of the whole
county bvswrca 1888 aud ii-n.
National taHk notes outstanding have
also b--a Increasing continuously Tor
tnorv than q year. and especially satiee
the iirs, Of January. on august !. h'.''
the outstanding national hank note cir
rulation was sti5.5iG.tsI By January
!, 1901. Il had reached St:5. .iIi.ppp. aud
OF September !. Sis.y5iIVp. Since
| August. iDJ.. the national bank eiren-
Iatlsn has been higher than at any form
or p.r!ol Previous to that date the
maximum point was S:lS.1sO.v0 IN
| IsS,.. ani the minimum was SiU'.5t' .sii
| Ia 1891. National hank note circulation
l. apprs,iu,atrly SIp.opp.opO greater
than at the low period. and ]; Is likely
t. Increase further.
Tn, total deposits OF Chicago banks
on September q and ! were the largest
In their history. The Chicago National
hanks. 10 response to the controller
call for statement OF condition on sep
tcmicr q. showed total deposits OF s.i"''
sIo.GGD. a. against S...s,,.,s's-seo on June
q OF this year and against s.u.,o, 'se
on December 10. 1901. Chicago STATE
I a her
sa,I .u5p. .iuci, ax against SaJ1,31sIi3 or
June 10 OF this year. and as against
500. I9i ST ON July ~. lop..
ucnry G.Ravis said In hi/ speech
Vice Prcsidcd THE a. 'hensior
..is,ia .r-fs..psl hil.-s-~.sns ci.cle.
II there wc7 such 'a.1. .hension'
could deposits increase In IN remark
SI,isn SSIS Way Gg .,S. matter ,',, Of fan q con
always quickly he followed by runs on
banks aud rapid shrinkagc OF deposits
aud the very fact that deposits are now
breaking all previous records proves tn,
utter absurdity of the Davis calamity
argument.
The total increase In our volume of
money during the past eight years was
Sl.OliI16,5G1: annual increase. SloG..
s3D,5I0; increase for each month Iur.
ing the last eight years. S1O.5Go. 1870: an
increase for each day during the last
eight years OF S352.3Oi
This statement shows that during the
last eight years. over seven of which
have been under Republican admins.
trntion. the Increase In the volume of the
currency has amounted to S3Ja,3OI for
each day OF Republican administration.
or more than SlO,OO0,OOO for each month.