The Bridgeport evening farmer., 1913-12-04
Scarcity Of Circulating Medium Is
 Causing Failures; Yet No Bank Asks
 For Waiting Currency Increase. Why?
Some Reflections Apropos aLetter Issued By Local
 Nation al Bank

~HE FARMER has printed issued by Oonnee- dout National Bank one of Brdgeport's leading and condition of the country considered length worth the time of anybody to read and inegenty
 The letter contains this most instructive para graph: These great activities have tight money market because have not enough of the cir cuating medium and scarce money again has business failures increase materially, ber of failed concerns and in total liabilities. The annual report of the secretary treasury state of the finances Congress- Tuesday page thereof this statement appears:
 A special session of Congress convened on April z, 1913 and immediately began to consider the inn portant questions of tariff currency reform The vast economic changes involved in these import ant questions had the natural causing many quarters apprehension the possible tcipated legislation, feeling of unrest began to pervade business circles This accentuated by a certain propaganda of pessimism which, WHETHER DEsIGNEDLY OR NOT, produced condition of treme nervousness and tension.
 lin the early part of June this assumed seri- aspect
 Complaints began to reach the department from many parts of the country CREDITS WERE STRICTED, and that it increasingly difficult funds for the normal needs of legitimate busi- 
 order to relieve the anxiety and to let the busi- interests of the country understand there need for restrictions credits troy apprehension based upon unustifiabIe and to the country that the at hand to successfully with amy situation that might arise, the secretary announced that there actually in treasury ready IMMEDIATE DE- LIVERY to any and every bank complying with the requirements of the law five hundred million dollars in national bank note currency which the tary said e would hesitate
 
 rency applied by the banks.
 The Connecticut National know business $ we'll posted It that scarcity of the circulating medium has caused many failures for large amounts
 government offered he circulating medi um" by millions of dollars if necessary Not a single bank asked for a dollar.
 The question naturally arising is this Do of the banks invite srngeney? Do they want famine? Why they themselves opportunity to increase the circulating medium?
 of the banks trying to discipline the of the United States and the people states
 letter of the Connecticut National Bank also speaks of the unusual demand for money crops
 this matter the report of the secretary of the treas ury speaks significantly.
 deposit $oOOOO of funds suitable banks the security of commercial bearing the endorsement of the depository bank
 "This WAS an unprecedented step, because COM AIERCIAL PAPER HAD NEVER BEFORE BEEN AC- GIFTED AS A SECURITY FOR GOVERNMENT DE- POSTTS."
 language foregoing paragraph that of the treasurer of he United States,
 Funds allotted in the amount of $465OO,O0O. Only $34,661 900 of the allotment was called for
 "It not necessary to extend aid to the Eastern States though the department ready to do if had been required"
 facts to ponder They compel reflection They straight up a theory especially England deficiency the circulat medium, because high prices for just potatoes high prices for potatoes There will be money panic in the United States this year The people government strong enough to deal with amoney monopoly. the people of the United States the punishment people would inct would be such the Amer would not forget in four generations.
 This yesterday. It is today From private banks publicly regulated to public banks publicly managed but It will behoove wisely patri- wield the that entrusted to them If there to be discipline its will be by swollen money power to the Aner people, but by the American people to the slip of girl clear for the Grand Duke the bride of sgus not long, however until the Crane