The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1922-01-12
Our Paper Money

Our Paper Money
Il is said that of the 81, AS, ,18O, 1892
paper money outstanding September
30. 1921 over 81 500, ,OOO, 900 are II de-
nominations Of $50 or more and SO DO
not enter into general circulation
among the common people while the
total Of all kinds Of 81 and 81 notes
amounted to $430, $50, ,472 and Of bills
3of SIS denominations there were$7 19,-s
173, SIG. The amount Of money % cir.
culation of denomination TO be used
BY the masses Of people does not prob
ably amount to more than 81 TO W
Der capita in actual circulation.
Those who have advocated q change
IN the method Of issuing notes OF cred
IL and ask that there be one such bank
for each state under Government
supervision are informed that such e
cour se would lead to wildcat methods
of banking, dangerous, and that me
monev. SO issued would not circulate
outside the state of issue. is II not.
true that we now have between 7OOO
and 5000 national banks scattered
through as states and each OF these
banks are now authorized and DO IS
sue notes circulated as money but not
Iii ID real money and do we have any
complaints or confusion whether issu-
ed BY bank in reactionary Pennsyi-S
yania or progressive North Dakota
Do you ever look to see where one
of these notes was issued or what real
security Is back Of III? Who was II
I that in 1895 said, Even il Bryan Will
BE elected with full support OF the
House and Senate, Wall Street can
bring to bear on Congress, that Con-
I gress dare not ignore. y can bring
defeat in the hour of victory.
Sounds like what we have heard
claimed about the power Of Wall
I Street during the past year. II the a
concentrated power was 90 great u
1896 before the Federal Reserve
System was established as q capstone
! TO the banking system Of America,
what must il be today ?
The Gold STANDARD 8
The net imports of gold for 1926
aggregated s95, ,000, 900 while for the
present calendar year down to Sept
/. ember I'll, the amount imported was
$532, ,O00, 900 above the amount AK,
ported. In 1920 the amount of gold
/ produced III this country Is given by
the Director Of the Mint as $51, ,O48'
1 .626. The amount of monetary golf
Y III this country September III, 1921 VI
eiyen as SIS, ,ss7, All, $50 of which NH
M GAL 1,O61 900 was held by the Federa
Reserve System and on September q
the amount held was 81, ,725 ,966, ,O00:
III isreported that the world ~ none
tary stock of gold during the past tei
\ years has been increased by not les
than %, ,0OO, ,0O 900 so that there is a,
shortage of world monetary gold. Th'
ratio of gold to note, n ii said, ha
decreased from 66 Der cent HI 1911
10 less than 10 per cent ii 1920. All
w then on 8 gold standard unde
& such condit itions It IS said that i
n 30 leading countries III 1914 the ratil
of gold To notes was 66.8 while III 192
s the Tario was only I'D. n ave we Fea
gold standard 81 only theoretics
4 one
How about the worlds national 4.
debtednessf Has this expanded HIN
wise { Iii the ginning Of the ssya
tfie worlds national debtedness NM
4 estimated All $43, ,0()0, ,l0O !, 900 and at kh
B B close II was s212,00 s00t, 900. One ~
after the Armistice was signed Al \
mounted to s256 900 ,0oO 700 and at VI
end of two years the irldabt e{llles
I was placed ~ note less than $sO0, 900
I 900, 900.
on, what 4 load 10 carryl Can a
nations cf the world dc II
The amount 81 interest chargss .
the worlds madonna indebts dress !
1913 was said ID be shout b, ,16O. .00(
O00 annually and 4, 1D20 the intssss
nm charges wlexe plaeed 0sa tI1e voxad
~ indsbtedness n 41z ;O00s Nm, no y,
tlas interest and pin pte ~ q ay
4 ahle 81 eold yo IN ttilis = e 81
Il Z Ne hsvs - j sk - I =