, 1908-10-26

by Mr.. Schilling and the other his
working room. The rooms will be
ready in 4 few days for the popular
young engineer.
Twelve Years Of National Progress.
1t Is just twelve years since William
Jennings Bryan was marching up and
down the country proclaiming that the
gold standard was a conspiracy against
the human race and that, If elected, It
would remain In operation no longer
than he could get rid Of II. 1t was
shown at that time that the civilized
nations of the world had been forging
ahead with considerable rapidity in the
savings of the masses, the increase in
wages and the Improvement in stand
ards Of living. Nearly all of them at
that time were parties to the conspir-
acy in favor Of the gold standard, and
they have since been Joined by Russia,
Japan. Mexico and the United States.
These twelve years have been beyond
question years Of the most tremendous
expansion in the producing power of
the human race ever witnessed In an
cient or modern times. The ancient
world was without that great equip
ment Of improved machinery which
has increased, by two or three fold
probably upon the average, the abil-
ity of the human hand and brain.
OF this prosperity the United States
has had its full share. The election of
President Mckinley in November,
1896, was the signal that the American
people r%epudiated Mr.. Bryan's violent
and revolutionary attacks upon the
monetary system established on the
resumption of specie payments in 1879.
1t remained, however, for congress to
enact into law this decision In favor
of the gold standard. This occurred
by the act of March IA, 1900. The re-
suits of Bryan's defeat and the enact
ment Of the gold standard law were
to inspire general confidence in the
future Of the country. Business &C.
CURED great expansion, savings de-
posits enormously increased, export
trade more than doubled, and the sup
ply Of money employed in carrying on
this vast business was also greatly In
creased. A few figures illustrating
these facts are more eloquent than
pages Of argument. The following ta-
bic shows the amount Of deposits IN
three classes of banking institutions
for the year 1906, when Bryan's cam
paign against the gold standard was
on: for 1900, the year when the gold
standard was enacted, and for the cur
rent fiscal year:
National State Saving.
1885,. q. ees. f1s.5o7 $s5. 6s. si4 S.sG.1 lee. III
190O... 2,46S, 0s2. 77 1,2e8,7S5, IA 2,4l9,bi7.Ss6
1sos... 4.s74b51.aos sos. e4s.seo s.eeo,55a.sB
These figures show that the aggre-
gate deposits in these three classes
Of institutions, without counting trust
companies and private banks, increas-
ed from about s4,270,OO0.OOO In 1895
to $%6.173,OOO,OO0 in 1900, and $11,102,-
100000 In 1908. or an increase in the
latter year Of nearly 200 per cent over
1896 and not far short Of 100 per cent
w 1900. The number of %depositors
In savings banks alone, which was
5,O65, 404 in 1896. increased to g, 1O7,0S3
in 1900 and to s,7O5. s4s in 1908. There
Is thus a. average Of one depositor
for more than one-half the families of
the United States.
The growth in the foreign trade of
the country has resulted In the sale of
American products abroad equal in
money value to more than twice the
amount sold In 1896. Imports have
not increased in quite the same pro-
portion as exports, but they show an
increase Of more than 80 per cent
within the twelve years. The follow
ing figures give in summary form the
foreign trade movement for the years
under considerations:
FOREIGN TRADE OF THE UNITED
STATES.
Fiscal year. Imports. Exports.
1896 .....-.. $779.724.64 $50. COS, 92s
1900 ...... $40. 81. 1s4 1894. 4S3. 0S2
1908 .............. 1.194. 80. 994 1850. 7ss. 0s7
Inevitably such an increase in the
volume of business has resulted in the
creation Of additional instruments Of
credit and the attraction to the United
States by their economic power of a
sufficient stock Of metallic money to
execute this large mass Of transac-
lions. Where Bryan and his policies
had expelled gold until the entire stock
of the country was only a little more
than $500, 900, 900, there is now nearly
three times this amount. Ever silver
has been called into use for subsidiary
coins and other purposes to an extent
which has increased the amount in cir
culation by so per cent. If money is
wealth, then the following table of the