The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-01-03
NO NATION EVER so
RICH IN GOLD AS US.
Enormous Increase In This
Country's Wealth Since
Beginning Of 1915.
PART FROM THE CROPS

III the year that has Just ended the
wealth Of the United States Increased
enormously. There are Of course no
comprehensive figures available showing
what the total Is. but isolated facts are
at hand which Indicate clearly the great
addition to the nstion's wealth In tho
year 1915.
For instance the value of farm prod
ucts alone was almost $500. 900. 900
greater than In 1914. This years prin-
cipal farm crops, O the basis Of De-
cember 1 prices, will reach the enormous
total of S5.56s. $4,000. This compares
with 3&,e7&.527.0 900 In 1914. s%.966.497.
600 In 1919 and St,757.47S. 900 in 1912.
In mining also II wac a year OF activity
which In many respects never before
has been equalled. Not only was the
tonnage OF ore mined greater generally
thar In other years. but the high prices
made an impressive increase In the
total value.
This increase In value OF output over
1914 ran as high rs 81 per cent. in
Montana and co per cent in New
Mexico. In the six principal metal min
ing states the increases amounted TO
more than $3.50 oo 200.
Greatest stock of Gold.
The Treasury Department affords ev-
dence OF the expansion In the country's
wealth. Perhaps the most impressive
evidence II the increase IN the stock
OF gold. which now is US large as tho
combiHed stocks OF any two nations of
the world at any previous time In his
tory. Secretary OF the Treasury
McAdoo has commented on this feature
Of the situation as follows:
'"rhe Unprecedented situation In Eu-
rope rapidly changed tho United States
from a debtor TO a creditor nation AL
though the panicky condition OF thte for
elgn exchange market caused large eS-
ports of gold to belligerent countries In
September. November. December. 1914.
n January. 1915. the balance OF trade
began early in the present calendar year
to favor the United States. and increased
until In November II mounted TO more
than $1,000. 900. 900. Dur stock OF gold
coin and bullion increased from $780,
S76.5s0 on January 2, 1915. TO s2,i9S,-
llS,7s2 on November I, 1915, by far the
largest moun OF this precious metal
ever held by any one country.
'"Thc indications at the time of writing
were hat our gold supply would be
klcdtlS dueTlenttu III tnt lIlllHtuIhte lu-
ture by further shipments from Great
Britain, South Africa, Canada and Aus
tralia, 1t Is interesting to note that the
production OF our own mines, including
those in Alaska for the calendar year
1914 totalled s94.53l,s00. an Increase OF
s5.647,f0 over the yea 1913. ard that
the production In South African mines
was $780, S7. 707, which IL within a few
million OF the production OF 1912 Ec0S.-
S54.34s) and OF 1914 ,s2O4.l64,279), the
record for that country"
The increased deposits OF the national
banks furnish further evidence ~ the
way in which the ation wealth has in
creased in the past year. The abstract
OF reports OF condition OF the national
banks OF the country made public by
Comptroller OF the Currency John Skel-
ton Williams on September 2 show that
between September IL, 1914. and Sep
TENDER .. 1915. there was 4 net Increase
In deposits OF S525. 762,5 6i. The increase
In time deposits was s796.l3s $50. but
this was partly offset by "A falling off OF
demand deposits. largely In the New
York banks. 10 the extent OF s21O.3Ie. PIG.
Resources Increase x1S3.5OO. O34.
The total resources OF the national
banks were Increased by s7s3,j6O,s3i
Another index OF the extent TO which
the country's wealth has been enlarged
is found In the volume Of money in cir
cu~lation. The total money In circulation
December /, 1915. was S3,s59. o60, 9sl, All
increase of s22S,S42.65s owe the sum in
circulation on December ]. 1914. The
circulation per capita Increased from
$3.50 to $3.50 in the period noted.
As further evidence OF the impressive
addition to the national wealth In the
year 1915 Is cited the large amiount of
American securities that have been
taken back from Europe. Bankers have
estimated that in the last year the
American market received and absorbed
foreign held securities TO the amount OF
about 81. 500. 600. 900. or course. this has
been made possible largely by reason OF
the enormous favorable trade balance
which this country has rolled up In the
last year.
In the twelve months ended with No
vember 80 the exports rose TO the new
level OF So 49,, 29o 900, az compared with
So. 1OI 1877. 900 In 1914 and s2.501. $4,000
two years ago.
The export balance was In favor Of
the United states sl,707, 04o. 30A, as
against s242.542,0iS one year ago and
$37s.472. 900 in 1913.