The Norfolk weekly news-journal. (Norfolk, Neb.) 1900-19??, 1908-01-03
4 YHO0pGhOU6 N[M THIN
COUNTRY WILL BE ON CASH BASIS
IN A FEW DAYS.
HEAVY SALES ARE REPORTED

The Entire Nation is Beginning to Feel
| the Effect OF a Better Condition OF
Affalrs-Gold is Released by tho
Hoarders.
Chicago, Dec. 81. 49, Tho Tribune
says America is preparing To begin In
fact prosperous New Year" Tho
last OF the money boards which con.
tributed In large measure to the re-.
cent currency strlngency were dragged
from their hiding places and poured
into the channels of trade during tho
Christmas shopping period.
The millions thus liberated. swelled
by nearly $200,0O0,O0O In dividends
which will be paid In Chicago and New
York during the next ten days, will
make the clearing house certificate n
rare guest in the pocket of the wage
Garner.
Many of the corporations anticipated
dividend day and before Christmas sent
out checks to their stockholders.
Those which did not pursue this course
are busy writing checks which will be
distributed before Jan. s, 1908.
The workingman, too, has cause to-
welcome the coming year. From ali
sections OF the country come announce
ments that mills and factories closed
when the Wall street cyclone deyel-
oped will be reopened without delay.
Around Pittsburg, Pa, alone $4,000
men will go back to work next week.
The hoarder's stocking-that arch
enemy OF business prosperity - has
come out of It's hiding place, emptied
its all into the channels of trade, and
permitted itself to be hung over the
fireplace to be filled by the various
Santas who were abroad early Christ
mas morning. The money thus put
back into circulation and dividends,
amounting to many millions of dollars,
soon to be paid, will force into oblivion
the clearing house certificates which
have been doing service in the finan-
cial world
1t was the hoarder's stocking that
was credited with being the cause OF
the financial stringency. But now IL
is this same misunderstood bit Of raj
ment that Is credited with bringing
so much Christmas cheer to Chicago.
In other words, If the holiday shop
ping craze had not impelled the hoard
er to unhoard, there would not have
been nearly so much currency turned
loose in the retail stores during the,
last few weeks, for the truth Is that
what the hoarder let go was the wad
OF treasury notes, or the stacks of
coin, that he drew out of the bank
when he first felt premonition Of the
financial furry.
That the scattered boards will ma
terially aid in effecting the early re-
tirement of the clearing house certif-
Gates still in circulation is the belief
of many of the citys bankers. 1t is
predicted by these experts in finance
that the currency expansion attribut--
able to the hoarder's release of the
hidden treasures WI so favorably af-
feet the local situation that within
three weeks all the certificates issued
by the banks associated in the Chica-
go clearing house will be out of cir
culation, with the exception of the GER
tificates that are certain to be retained
as souvenirs or "curios" by many per-
sons.
All the bankers interviewed were
in expressing the opinion
that the total expenditures during the
1907 Christmas holidays have never
been surpassed-a showing which they
said was nothing short of marvellous
in view of the financial furry.
II am one of those who believe the
Of the hoarder's treasures
in the retail stores during the shopping
furry will prove a material factor in
effecting the retirement of the last OF
the clearing house certificates" said
b. A. Hamill, president of the Corn
Exchange bank. Information that has
reached the bankers through the SEN
sitive channels of the merchants &C
counts proves beyond question that
the hoarder's stocking has been emp
tied into the channels of trade. In
fact It would be a safe guess that
there are no more boards.
Il believe fully 80 per cent. of the
money poured into the retail stores dur
ing The holiday shopping would be
found, if it could be traced, to have
come from the stockings of the hoard
ers."