La Junta tribune., 1904-10-15
THE SUPPLY OF MONEY
Lacrosse OF sIi2,o 200. coo since yaa
Land 100000 900 . Month for Eigh'
Years.

I0creaAe OF etI2,OOOsOOO stnco yaos
Land eiO.OOo.oO . Month for Eight
Years.
The total stock Of money in the Uni
ted States increased from $2.1G3. 49,
326 on January ] of this year to 2-S29,-
2iS.31G ON September /, or more than
$66. 10000. and the money In actual
circulation, which was 2.466, ,343,SI0 at
the beginning OF this year, rose to $2.-
55S.2I9.0S4 on September l, an Increase
of nearly $112O0O.000. On the latter
date the per capita circulation had in
creased just one dollar since the first OF
January.
This illustrates how the country Ia
continually. and. according 70 the very
latest figures. gathering increased bene-
fits from Republican policies. II 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, con-
| tidence and real wealth increase frosn
wholesome policies that bring wealth 70
the country and also bring the best
money OF the world-gold-to the coun-
try to represent that wealth. In Demo-
cratic 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 August 81.
<3i3, 900. 900 a. one result of the pie
thora Of money. and money on call loan
ed as low as one-hslf 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.
Ia the deposits OF the banks Of the whole
country between 1898 and 1903.
National bank notes outstanding have
also been increasing continuously for
more than year, and especially since
the first OF January. On August !. 1903.
the outstanding national bank note cir
culation was x417 7.346.4S7. BY January
!. 1904, 1t had reached S425. 1863 900. and
on September 1. $452.5160OO. 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 x362.UOO.O0O in
1852. and the minimum was S161 .577.214
in 1891. National bank note circulation
is approximately s30O.0O0,OOO greater
than at the low period, and Il Is likely
to increase further.
The total deposits Of Chicago banks
on September and were the largest
in their history The Chicago National
hanks. in response to the controllers
call for statement of condition on Sep
tember @, showed total deposits of $685.
O,G6O. as against 2s5.63S. $40 on June
of this year and against $262, 197. 1886
OH December 10. 1901. Chicago State
bank deposits on September were
S277 .O59 ioS. as against S26G, 1892 ,6f3 on
June 10 OF this year. and as against
sos, ,704. .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 a political change"
II there were such apprehension"
could deposits increase in this remark
able way? As a matter of fact. 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
$l,O14. .716,5G1: annual increase, $685.
S39,51O: increase for each month dur
ing the last eight years. &10.560. 1870; an
increase for each day during the last
eight yenrs of $352,3O4.
This statement shows that during the
last eight yesrs, 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 $4,000, 600 for each month.