The Birmingham age-herald., 1910-09-26
PLENTY OF MONEY
 FOR THIS FALL Expected Shortage In 'Fi-
 nanCeS Will Not Occur BANKS WELL FORTIFIED
Crops Are Bountifu1 and Money to Move Them Is Coming in From Europe Rapidly Enough
 for All Purposes

Washington, September 25.-It is unlike ly that there will be any shortage of money this fall anywhere in the United promise to any particular individual, but is the large, impersonal view of the treas ury department, whose hand is on the pulse of the nations financial and bus mess life and represents the opinion of officials who constantly watch for symp- toms of any stringency. In their opinion the danger mark, if there has been one left astern. They give these reasons for their prediction of plentiful money:
 Primarily the banks saw what looked like a money shortage coming several months ago. They knew they could ex- pect no help from the United States treasury such as they got in 1908, and prepared themselves. They have piled up gold, built up reserves and cut down risky loans and bonds of other securi- ties which might not be easy to sell, have been turned into money. New loans have been closely scrutinized.
 By doing all that the banks have forti- fled themselves against an emergency. HOW we'll they ulu II WdS SCtl idol WScn when $10,0O0,O00 was moved out of New York to other banks and done very cas- fly. Panics foreseen never come, finan- ciers say.
 Money is plentiful in England. and on the continent of Europe. That Is always said to be a good sign in making a pre- diction for this country.
 Nearly every crop in this country this year Is reported to be bumper one.
 Corn will set new record. Four-ffths of the crop has been gathered so the chances of loss from frost is small The oat crop Is the greatest in years.
 The cotton crop will be 100000 bales greater than 1t was last year. The other crops are reported very large.
 Next month it is estimated investors over the country will receive s17o,00o 900 in dividend checks from industrial, rail- road and other corporations. That will add, of course, to the money generally in circulation.
 The record crops are one argument against a money shortage because they mean the United States rsill htsve q great amount Of food and Misunderstanding materials to sell to Europe.
 Europe in the meantime will be sell ing material to America, but undoubt- edly not to the extent 1t did last year and therefore will owe Americans money This will be paid in gold, which will come across the ocean in bars. The banks will take it to the United States hints or sub-treasuries to be stored away In the vaults and the gold certificates will be issued to represent 1t. Thus sew eral more millions of dollars will come Into circulation for business.
 This is what financiers call "the bal ance of trade" and in such an instance 1t would 'be in our favor" If the re- verse were true If crops had been poor and Europe sold the United States more than 1t bought, the United States would have to pay the difference in gold. as # did in August to the extent of $S,0000oO and the balance of trade would be against us.
 The question may be asked why the treasury department could not help the banks now as it did in 1908. Because 1t has not the money. The expense of dig ging the Panama canal Is from 2,QQ ,0oC to $40Oo, 900 a month and Is great 6rain on the nations ready cash
 It was the intention to build the canal with borrowed money obtained from sales of Panama canal bonds, but for many reasons bonds could not be sold on fa- yorable terms and Uncle Sam has been having his canal workers out of the cash drawers until now the canal owes the treasury $125.oo0,0oo.
 One of the best reasons why treasury officials believe there will be no money stringeney is that the national banks are preparing themselves to issue $oOO.- 00o, 900 extra currency, as the emergency currency law provides, If they have to.
 Through the efforts of Secretary Mac Veagh the banks of the larger cities have prepared themselves and others are get ling ready. MT. MacVeagh believes the common knowledge that such an im- mense amount of cash Is available will stop any general movement to take money out of the banks and hoard 1t In stock. inos