The Minneapolis journal., 1906-08-06
shor.sf.af Dimes" and Other
! s.alsl Pieces Caused by
Business Demands.
COMMERCE ADVANCES
BY LEAPS AND BOUNDS
United States Prospers While
European Nations Feel
Hard Times"
BY w. w. Jermane.


ia circulation of money in the United
states is $32, and that the per capita
# small coins-quarters, dimes, nickels
md pennies-is rapidly increasing. The
output of metal money continues with
,ut interruption at all the mints, and
still the supply IS not equal to the de.
nand.
Recently it was announced that there
was almost shortage of dimes, and
it was supposed that some
body was boarding these small silver
pieces with a view to cornering the
supply. But this is not the case. The
legitimate demands of business in these
times of unusual prosperity have cre-
ated this shortage. ..-.-...
A brief statement of the activity of
the. Philadelphia mint alone will show
of the increase in number
of small coins. During the first Cleve-
land administration this mint coined
254, ,065, ,293 subsidiary pieces, during the
Harrison administration 358 8,66O,725
pieces, during the second Cleveland ad-
mir pieSes
141 pieces, and thus far during the
Roosevelt administration S02,0o0,000,
pieces. ..--.-
Shows Commercial Gains.
PEI The continued scarcity of these coins,
in the face of the figures just quoted,
tells most convincingly that the coun-
try is advancing commercially and in
dustriously by leaps and bounds, The
quoted occurred during the second
Cleveland administration, while the
panic was under way.
There is another way Of throwing
light on the prosperous condition of the
country, using again the figures OF bust
ness done at the Philadelphia mint. OF
the 100000 in silver quarters coined
at all the mints of the country since
1892. the date when the first mint was
established, the mint at Philadelphia
has coined $9,500,000 during the Roose-
welt administration. Of the $50, ,000, 900
in dimes coined since 1892, the Phila-
delphia mint has coined $S,000,000 dur.
ing the Roosevelt administration. OF
the, $27 900 900 in nickels coined since
$7,000,0OO during the Roosevelt admin
istration. fathez z$lS S,eeo,090 in pennies
coined since 1892. the philadelphia mint
has coined $4,0Q0,000 during the Roose-
velt administration.
Stand Patters Claim Credit.
The situation of unexampled pros
perity here referred to is the founda-
tion of the stand-pat element In the
republican party. That element opposes
any change in economic conditions while
business continues to go forward at SO
iwonderful a rate. They say let well
enough alone,' and in this cry they
are Supported by the money interests
generally, which do not know but q
tariff revision might induce general
Stacking of business and a consequent
that it is the rule in this country. for
tariff revision to be followed by. hard
times, and while certain schedules OF
the present tariff law cannot be defend
ed. that law as whole is defended and
in such way as shows that the re-
publican leaders as a body are deter
mined that nothing shall be done' at
least for the present:
While the United States is thus ex-
periencing degree of prosperity unique
In the history Of nations, some other
parts Of the world are not so fortunate.
Strikes, for instance, are steadily IN,
creasing in Germany, in number and
Importance: Statistics show that Tor
the years 1899 to 1903, both !neluslVe, elusive,
1870, and during 1905, 2,057. OF
greater significance is the number OF
| fockouts. 42 for the years first men
toned, l2O in 1904 and 200. in 1908.
| The cost of living is greatly increased,
and there is a scarcity OF many essen
tial articles Of food, The cond1tlon OF
| general unrest in the German empire
| has not for years been as great
| as at present, and it is believed that the
figures for 1906, when ascertalned, Will
show that this general movement Is
being steadily accentuated.
Unrest in Great Britain.
| In Great Britain the social and
economic unrest has for several years
l 70 %ho mr.
rrated by Joseph Chamberlain Tor .
tariff. British workmen are dissat1s-
| fed. their wages are not sufficient 70
| meet the increased cost of living and
much discomfort and actual suffering
prevails over wide part OF the coun-
W. Money Demand Grows.
! Never has there been as great q
demand in any country OF the worla
for money for legitimate business opera
tions as there is in the United States
at this moment, and has been for sew
erai wears past, and that demand ac-
counts for the anxiety of the. great
hankinp houses for more elastic cur
! rency. It accounts for the bills now
pending in congress to provide for TINS
elasticity, and for the recommenoatlonIs
which President Roosevelt has has, repeal. sogas.
thing will be done at the short session
next winter is very generally belleyed.
else our very prosperity may nrinR
about money stringency and business
MI. Vanderlip, formerly assistant
secretary Of the treasury, now wee vac
president Of the New York City bank,
IN IN speech made this summer @ before tb;s 3
i gathering of financial men, voaeeJ eIastic sic
%onsy asmsya supply m In way that caused y vide
comment over the country, and ~. ~ !, T.
understood that when congress = meetS vesstS u :
4 December it will be cen1ronn.eul nnl;na Mn,n IN.
I terests for proper Legislation. a..
sMr. Bell, the commercial agent To-
Great Britain in the United States, Y
q recent report, discussing Ar Ame.ltal e. tal
MOST MOST aattering terms Of American pros
nerity. merit His report is filed with comph
: .pnantarv reference to the expansion o1
: american trade, and its tone Is that q
1or~ q