Northern Wisconsin advertiser. [volume] (Wabeno, Wis.) 1898-1925, 1904-10-13
THE SUPPLY OF MONEY
increase o" sII2,olO. 900 ,iuce Jan.
Land SIo,oOJ,UOJ Month for Eight
Years.

Increase o" sII2,0pO, 900 ,iuce Jan.
Land SIo,o0J,UOJ Month for Eight
| Years.
| The total stock of money in the Uni
ted States increased from 81, I63, 152.-
326 on January ! of this year to $2.S29,-
2f3,3l6 on September /. or more than
$60.000.O0O. and the money in actual
circulation, which was $2,466.345,SI9 at
the beginning of this year. rose to ST.
55S.219,9S4 on September l, an increase
of nearly $112,0 100000. On the latter
! date the per capita circulation had I'M
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 Repnbliean 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 es credit. con-
! tidence 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-
| NiatiC uol Only was .lue Onlttu
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 August 81,
| xS43, 100000 as one result of the pie
| tbora 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 1903
| National bank notes outstanding have
| also been increasing continuously for
more than year, and especially since
the first of January. On August l. 1908,
| the outstanding national bank note cir
| culation was $417.346,4 S7. By January
l, 1904, it had reached $425. 163. 600, and
| Oh September l., S4o2,5l6.000. 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 $362,000.000 in
| 1oo2. and the minimum was Sl61.577, pa
| in 1891. National bank note circulation
| is approximately $3O0.OOO.O0O greater
| than at the low period, and it is likely
to increase further.
The total deposits Of Chicago banks
ON September 6 and were the largest
in their history. The Chicago National
| banks. in response to the controllers
call for statement of condition on Sep
TENDER 6, showed total deposits of $685.
57O,66O, as against $685., 69S.S2O on June
8 of this year and against $500, 797 1856
on December 10, 1901. Chicago State
bank deposits on September were
S277 ,O59, 4O3, as against $266.392, 643 on
June 10 of this year, and as against
| 5000, 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
and the present unsatisfactory industrial
conditions of the country, seem to de-
mand political change"
If 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 deposits,
and the very fact that deposits are now
breaking all previous records proves the
utter absurdity Of the Davis calamity
argument.
The total increase in our volume OF
money during the past eight years was
Sl014116.5G1; annual increase, $126,-
9,510; increase for each month dur
ing the last eight years, $10,569 1870; an
increase for each day during the last
eight years of $352.3O4.
This statement shows that during the
last eight years. over seven of which
have been under Republican admins
tration, the increase in the volume of the
currency has amounted to 1852 .304 for
each day of Republican administration,
or more than $10,000.000 for each month.