The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1904-10-22
SUPPLY OF MONEY
Increase Of 81 1000, 900 Since Jan. 1, and
SIO,OoO,OOO q Month for
Eight Years.

The total stock Of money In the |
United states increased from S2,763,-
1j2,32G on Jan. | Of this year to 81, |
0,2I3,31G on Sept I. or more than
S6GOOO, 900, and the money in actual |
circulation, which was S2,466,345,S79 |
at the beginning of this year, rose to
2jJS, 2T9,0Si on Sept. |, an increase |
of nearly Sl12OOO.OOO. ON the latter |
date the per capita circulation had in.
creased just 81 since the first Of jan
uary
This illustrates how the country is
continually, and, according to the very
latest figures. gathering Increased ben.
efits from Republican policies. II shows
the folly of the free silver argument
for which Parker and Davis voted in
1896 and in 1900. since il demonstrates
that money supplies increase not as
more money may he coined, but rs
credit confidence and real wealth in
crease from wholesome policies that
bring wealth to the country and also
bring the best money of the world
gold-tO the country to represent that
wealth. In Democratic times not only
| was the United States himdcrrd from
| producing wealth. but the best money
| to represent guld-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 Aug. 81,
! S313O 100000 as one result of the pie
| thora of money, and money on call
! loaned as low ms Onc-half of per cent.
| A recent bulletin issued 10y the con
trOllcr Of the currency calls attention
to the enormous increase of 100 per
cent in the deposits of the banks or
the whole country between 1893 ana
| 1908.
National bank notes outstanding
have also been increasing continuous
| ly for more than n year, and especial
~ since Jan !. On Aug |, 1903. the
outstanding national bank note circu
| linton was SilT,3l64SI. by Jan. l.,
| 1901. It had reached S425. l63,wO
and on sept. |. Sl52.5l6,OOo.
Since August 1902, national bank
|
at any former period. Previous
to that date the maximum point
was S3G2, 100000 in 1882, and the
minimum was Sl6T ,5II,2li in 1891.
National bank note circulation is APP
proXlmatcly $500, OOO.OO greater than
at the low period, and 1t is likely TO
increase further.
The total deposits of Chicago banks
on Sept Il aud were the largest in
their history. The Chicago National
banks, in response to the controller \
call for statement of condition on Sept.
g. showed total deposits of S29G,oIO.-
$50. rs against S2S5. sos, $40 on June .
of this year and against S2G2. 1916
on Dec. 10, 1901 Chicago state bank
deposits on sept. We're S2IIO19,i O3,
as against $2GG.392 ,,i3 on June 10 of
this ycrr. and rs against S2@.I9i.'
S27 on July 81, 1902.
Henry G. Davis said in his speech
-acccpting 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 to
demand a political change"
If there were such apprehension
could deposits increase in this remark
= able way? Az matter of fact, con
dition of business apprehension" will
always quickly be followed by runs
on banks and rapid Shrnkage of de,
posits, and the very fact that depos
its are now breaking all previous rec
ords proves the utter absurdty of the
Davis calamity argument.
= The total increase in our volume OF
money during the past eight years was
Sl.O14,Tl6,5G1; annual increase, Sl26,
$50, go; increase for each month dur
ing the last eight years, SlO,569, 40
I an increase for each day during the
I last eight years of S352,30i.
d This statement shows that during
t the last eight years, over seven o.
which have been under Republican al
minstration. the increase in the vol
ume of the currency has amounted Il
S352 3O4 for each day of Republican
administrations or more than $4,000,
] nll for nnpl month