The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-12-24

the Treasury Department at s32S4.-
100000. This is the aggregate Of all
money in bank vaults. cash drawers of
business concerns and in the pockets
or boarding places of the general pub
lie. and does not include about 1854
GOO 600 held in the Treasury as assets
OF the government.
An equal distribution OF this none
tary stock among the people would
give 10 every man. woman and child in
this country s3434 A geographical
distribution upon this basis would give
the Southern States the largest share.
or about $4,000, zoe: next In order the
Middle Western states would receive
600. 0oO the Western States would
receive sz72. 100000: the Ne" England
States $23i.000.00o. and the Pacific
States sl9s.t90,000.
How this vast sum OF money Is ac-
tually distributed throughout the diff
ierent sections of the country is
question for some future director OF
the census to answer: but IL Is an easy
matter to determine, at least for Ger
tain dates. what amount Of the bank
d bic funis IS held in banks OF the va
rioiBs States and some OF the principal
cities.
About one-haIf Of the big sum rep
resenting our circulation medium can
now be located once year, dc, LOT III
stance, that portion found In the banks
on the day every one of these institu-
tions are called upon 10 make re-
port TO the Comptroller OF the Cur
rency for statistical purposes, which
this year happened on the 18th Of
June.
While the location of money in
banks can be determined with more
or less accuracy. and the amount of
bank funds for each State and imam
cial centre may be closely approx
mated the amount Of cash in the peo-
pies pOcketbOoks constantly passing
from hani to hand in daily business
transactions cannot by any present
means be determined for any given
locality.
The latest information as to how
much of our circulating medium f'nds
its way TO the banks may be interest
ing
We know that on certain date.
as Indicated by a summary or Dank
statements. so much OF the money out
side of the United States Treasury De
partnent was in bank vaults and this,
and that the balance was In actual
circulation. that is, not IN the Treas
airy or in banks
The amount OF money in the banks
on June IA last was SI.572.90c. geo. and
this sum was distributed geOgrapntcal-
y II the following proportions ABOUT
~ IL per cent was in banks OF the
la tern States: nearly - per cent IN
those in the Middle West; per cent
in the Southern States. a little over
8 IL in the Pacific states: not
quite 8 per cent in the New England
states: slightly over IL IN the
~ eStern states. about one-nali OF l
sions In other words. nearly one
half Of the cash in all banks OF the
country. or S16I, SOC. 600. is IN the banks
Of the Eastern States viz New YORK
New Jersey, Pennsylvan'a. Delaware
Maryland and the District OF Column
bia The cash in banks OF New York
state on the date mentioned was about
$3.50. 100000. OF watch sum over Wy
100000 was held by isS banks IN the
city Of New York. Thus. IL i SHOWN
that over 30 I-s per cent OF the total
money in bank vaults in June last was
held IN New york city. ON the same
day the banks in Chicago held ap-
proximat.ly SI4SC0o.G0o. those In 81
Louis Sal 600. 600. in Boston $4,000
goo. philadelphia. $5i.ooo.eoo. and san
Francisco nearly S23.0oo,e0o.
These statistics are. complies from
reports made b. f3f banks IN opera
ton in the cities named 80 IL ap-
pears that Jess than see banks located
in SIX Of our large cities. with an
Aggregate population OF 10000 os. hold
~ pcr cent 81 .hc cash IN al banks
o. the country. or sun amounting
.. SS4e zoe GOO while 1Gao0 other
tanks. scattered throughout the coun-
try. hold the balance. about SsSO.yee.-
ooe. Or only :. per cent OF the total
cash holdings.
The Der capita Of money tn circula-
ton. as before stated. = sSf -. let
us see what j. the per capita ncidinS-
30 fbat part Of the money in c'rcula-
lion found IN the banks Of our great
financial centres. New York. with
population Of 47ss.0oo. has sic cash
in bank 20 each inha eitant. Boston
has So. Chicago. So. - Louis. seo-
san Francisco So. and Philadelphia
SO.
II We apply the same test for me
sections we shall lind the per capita
81 money in banks hiChest for the
Eastern Ststes-s3f--folloW~8 ~ oroer
-. -. ya.fffr States with tl4. the