Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1912-10-25
Robert M. MoWada.

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WASHINGTON, Oct. 25.--One OF tht
leading financial writer's and thinker:
Of tho country, talking about the M
tons wealth and prosperity, says OF
the vast sum OF $4,000, 100000 Noui
billions mind YOU which tho wage
earners OF the United States have
placed on deposit In the banks OF tht
country, says: This sum II likely tt
be much increased within the mex
twelve months, because those who
work for wages are to find employ
mont in plenty at good wages, this
condition being In ne small part trace
able to the enormous harvestB OF this
year.
Very likely within another yeal
the statisticians' will discover that the
total capital invested in manufactur
Ing in the United States Ia approx
mately $20,000,0O0. 900 (twenty billions
OF dollars), while the products OF
these manufacturing companies VIII
be marketed In the United States and
In Europe at figures prOportionately
great.
These haryests light very greatly
to increase the value OF American
farm lands, which as recently as l9lo
we're estimated to be OF the value OF
$4,000, 000, 900. No small part OF the
returns which the farmers will receive
from our enormous harvest Will be In
vested in increased farm lands and
farm buildings.
1T ia yet too soc to determine
what precise relation Of the exports
OF agricultural products to exports
OF manufactured products will be
found at the end Of this year to have
been in the year 1912. There Is some
doubt about the accuracy Of the re
ports from Europe which tell Of fair.
ly good harvests in the graingrowlng
nations. But at all events our sur
plus food products and our handsome
surplus OF raw cotton are likely to In
crease our exports Of agricultural
commodities IN 1912 as compared with
1911.
1--WE do know that exports OF
manufactured products IN the fiscal
year that ended June 80, were con.
siderable In excess OF 500, 900, 900, 900.
And when It IL remembered that as
recently as 1898, The United States
Cor the first time exported commodi-
tea manufactured or made In Amerl-
can factories which were Of greater
money value than the manufactured
articles we imported, then there ian
be some understanding Of the vast
growth OF our foreign trade In manu-.
'actured articles.
"We are likely to have q money re.
turn for the Indian corn harvested
his year OF not far from $%l,4O0,000,-
900: and We are likely to have n farm
value money return for the wheat pro.
duced this year Of not ar from $780,.
100000"
These facts and figures spell Pros.
perity with q mighty lag P. Don't
they?
Let us view the situation nearer
hOme--just in North Dakota and near
by. for instance.
Holland says that there are some
| indications that II congress- does not
| permit Of any revision of our bank'
ing and currency system some part
Of the reforms tina. are needed Will
be worked out and adopted by the
State banks, possibly in some In
stances acting In alliance with the ma
.lonal banks. Already there are In.
| lications Of the movement In thn
+ wheat belt Of tho Nor
| This movement Is nkely to be SC
greatly developed as in the course OF
8 few years to make Minneapolis one
Of the leading financial centres Of the
United States. That city Is now O
great financing center. Its Influence
and authority are recognized and adj
mired by leading bankers everywhere
It Is the presumption In Gotham, for
instance, that the gradual and careful
way in which the defects In our ma
tional banking system are being
worked out IL due in great measure
to the Influence OF MINNEAPOLIS.
For instance, in the Dakotas, and
especially In North Dakota, great
States which are Immediately under
the financial influence and sponsor
ship Of Minneapolis, they have been
gradually perfectlng banking methods
which in some features were identical
with the reformes recommended by
the national monetary association.
In North Dakota many of the ad
mirable features Of the Canadian
banking. system have been adopted
Almost all Of the banks have allied
themselves with one group or another
Of which the central control is Min
neapois. These groups represent some
Of the best features Of banking co
operation.
They are to the groat grain States
OF the Northwest what the leading
bank OF Boston sixty years or NOR
ago was to the State banks OF New
England. That was an association OF
alliance which, so far as the redemp
tion OF State bank notes was concern
ed, brought the State banks OF New
England into one group, whose notes
we're speedily redeemed through a re
demptlon fund by this leading Boston
bank. The result as that, while III
other parts Of the country there wert
serious losses at one time due to the
failu. OF banks, scarcely any l0ss