The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-06-08

past two years, SS1 in 1904, and BAL
in 1905 or 722 during that period. In
the same interval the new and old
banks added to their circulation $780,
093, 217-an average of $45,000,000
for each year, of which the share from
May 1, 1904, to May 1, 1905, was $44,-
164,372. The gain for five years has
been 81 9b, 8s5. 57a Or nearly forty mil
drawn on the reduction of deposits
have been in large part pledged for
circulation.
You have a right to ask. with such
an abundance of gold and bank notes,
why is there trouble every autumn
into market. The value of the ma
TONS agricultural products not fed to
live stock in the last year reported. is
estimated at four and a half billion
dollars. The share used at home al
ways advances, but so does that which
is offered for sale. Worth more than
eastern argosies, many times more
than the annual addition to both pre-
ciOus metals, millions of dollars are
needed to carry the crops from the
producer to the consumer. They are
gathered from nearly six million
farms, and are scattered to two or
three times as many local markets.
A very simple change in the law
would adjust the ratio of denomina-
lions. Congress has not yet approved
the suggestion, although it has been
repeated. BY the easy process of au-
/ thorizing gold certificates of S5 and
1910, our legislators could add to the
current on which the crops should
float to market The fetch of keep
ing a board field open for silver. has
stood in the way Of such change. Yet
/ it has been proved that the white
metal in all its forms. cannot render
the full service. Why not yoke IN
gold in small certificates, to help do
/ the work? The supply of the yellow
metal is adequate, and represented in
paper for SIS and $40, would add to
4 the strength of our system, and to the
convenience of farmer and trader as
4 well as of the banker. Gold is not too
good for this service. By its use IN
/ certificates or coin, crops could with
less trouble be placed in the hands of
the consumer. Make team OF metals
and paper, and the work will go on as
/ cheerily as at a corn-husktnG or har-
vest bee.
A Run on All Deposits.
Mr. Thomas w. Lawson is attracting
notice by his assaults on Wall street
and what he calls "the system" He
proposes as master movement in his
warfare the withdrawal of all deposits
from all banks on single day. Such
a run would call for all the currency
in all institutions. For the deposits
are twelve and half billion dollars
five times the money in circulation
two billions and a half. Only a mar
velous imagination could offer the
suggestion. To carry it out would be
as easy as to drink I'D all the streams
to breathe up all the air
The depositors in commerclal banks
we remember, are also IN large par
borrowers. They agree to leave ter
per cent or twenty per cent TO thell
credit against their loans. When they
draw their funds they must pay theil
debts. In savings banks, the loans arr
as a rule subject to early call. De
mand for deposits would fall at onc'
on the Borrowers, who perhaps have
been gathering in their funds to WIPE
off their mortgages. No sharp line d1
vides the debtors and creditors
run on all deposits would call Tor TN
liquidation of all debts
If it were possible TO draw out al
the money in all the banks. VIVA
could be done with it2 You lave seer
excited people before 4 single lnsttu
ton. One gets his cash, hesitates, goe
: home, hides it away. returns ant
, wants to put it back. Or thief way
lays him. or a promoter captures nm
or he falls into riotous living On
! wholesale scale, the sch eme wouI'
. mean anarchy. ruin, not for specula
tors only, but for every industry an
every interest
The structure okerthrown, however
would not be the currency It Wouh
be credit in every branch; It would b.
? production of which the currency IS a.
= instrument. Mr.. Lawson may be