New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-16
If That Sum Were Evenly Di.
vided Each Resident of This
Thriving City Would
Receive $745.

NewburSh's banking insututlonS DIV
conducted along most conservative lines
yet they are truly progressive. They are
so efficiently managed as TO have not only
the entire confidence of the thrifty resi-
dents OF this beautiful city on the west
erly bank OF the Hudson River. but also
10 command the attention OF and to re-
ceive large sums for safe keeping from
persons living many miles away. w.
The thriftiness OF the city is shown by
the total resources of its five banking in
situations, namely, the Newburgh saw
ings. the Highland National, the Quas-
saick National. the Newburgh National
and the Columbus Trust Company. Inc
total resources of those splendid insttu-
tons is So, $50, 1913.
Figuring the population of Newourgh
TO be about thirty thousand, each resident
of the town would receive, If the banking
resources were equally divided Sio. That
itself, clearly reflects the financial
strength and also accounts in large
degree for the brisk business days anc
general prosperity now being experienced
by this historic town.
The total stock of gold of the United
States three years ago was N'6SS'oVV'oVV
There were then in the country. according
to the census of 1910, 10000 people. II
the gold had been divided equally among
the people each would have received SIS "
and If all legal tender OF that period had
also been evenly distributed each person
would have received $50 q. Thus it will
be plainly seen that town which pos
sesses financial resources of $40 a person
is well fortified with money
Maybe there are some people who vii
s.sert that the figures of the United
States Treasury do not form good com
parsons in this case, believing that many
other countries OF the world are richer IL
gold and silver bullion than this country
But such is not the case, as the monetary
statistics compiled from report OF the
director OF the United States Mint for
1910 will show. According 10 that report.
il all the money in the world were placed
among the inhabitants evenly, each per-
son would have had on January !, 1910
sl2 So. of which So 10 would have repre-
scented his share of the gold of the world
81 10 his share of the silver of the world
and 50 50 his share OF the amount of legal
tender in paper.
on the per capita basis Australia led the
world on the date in question. The mark
IL set was S42 IS for each OF its inhabl-
tants. That was over 500 less than the
present per capita record of Newburgh
France was the next richest country from
the financial angle. Its mark was S57 s.
for every person within its boundaries
1t had 3930o,00O people and there was
1926, iO0,O o0 in gold and more millions in
legal tender and paper in its strong vaults
or in circulation. Then followed the
United States. with s35 q for each of its
inhabitants And next came Netherlands
with $50 60 for each resident of the coun-
try, and closely following it was Switzer
land, with 1900, 900 people, s6l,0Oo,0oo in golo
and over s5O,000.0o0 In legal tender, the
financial strength accredited to each per-
son being $50 So.
The low mark for financial resources was
set by India; with its 295 100000 people.
It's TlOIlltu Mtdibu was why u NcubS q
person. The total gold stock of thai
country was only 100000 and the Gull and
limited supply of silver in legal tender
. was SAG, 100000.
A city with such large financial re-
sources as Newburgh is able to carry on
extensive public improvements. building
operations and to aid its industrial and
trade centres whenever necessity de-
mands at rates satisfactory for all per
sons concerned. Furthermore, the earn
ing power OF such loans goes direct to
the pockets of the depositors of the bank
ing institutions, and as most OF the de-
positors are residents OF the City OF
Newburgh. the greatest benefit derived
from the possession of this financial
strength falls TO the town.
The more the moneyed channels OF the
town are examined the more they inn
press the observers with their depth and
broadness.
The total financial resources of the City
OF Newburgh Is just little less than the
total value of the gold production OF
Mexico in 1910. its gold output being