The Teton peak. [volume] (St. Anthony, Idaho) 1899-1904, 1904-10-13
THE SUPPLY OF MONEY
increase Of $4,000, 900 Since Jan.
Land $lO,OOo,OOo a Month for Eight
Years

Land $1O,OOo,OOo a Month for light
Years.
Ihe total stock of money in the Uni
ted States increased from So, 1913, 1J2-
90 on January ] of this year to s. 3d.
-'o,olb on September l. or more than
Soo,ooo,OOO, and the money in actual
circulation, which was s.. 466.34J, $40 at
the beginning of this year. rose to S.
ooS,2I9,9S4 on September l, an increase
OF nearly S112,00O.0OO. On the latter
date the per capita circulation had in
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-
hts 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, con-
fidence 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
cratic times not only was the United
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,
S.'43,OOO.0OO as one result of the pie
thora 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 100 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 !, 1908,
| the outstanding national bank note cir
culation was $417,346,4S BY January
l, 1904. it had reached $40. 1913 600 and
Oh September l. $452.516.OO0. 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 S362O00.OOO in
| 1oo2. and the minimum was $161.517,214
in 1891 National bank note circulation
is approximately $3OU,OOO,00O greater
than at the low period. and it is likely
to increase further.
The total deposits of Chicago banks
on September g 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 S296.-
510,660. as against $2S5 ,69S.S2O on June
9 of this year and against S262, 19l ,936
on December 10, 1901. Chicago State
bank deposits on September were
SGT .059 4O3, as against S266392,643 on
June 10 of this year. and as against
5000. 794S27 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
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 deposits,
and the very fact that deposits are now
brea king 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
$IO14.716,56 annual increase, $126,-
S39,57O; increase for each month dur
ing the last eight years, $10560, 100; an
increase for eac- lay 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 $685. for
each day of Republican administration
or more than $1O.OOO.OOO for each month