. Deposits in banks of all classes in the United States, 1875 to 1903. [From reports of Comptroller of Currency.] 1888. 1889. 1890. 1891... 1,668,413,508 1,907,156,277 1,770,480,563 1,939,376,035 723,640,795 1,292,842,471 1,364,196,550 410,047,842 1,442,137,979 1,425,230,349 507,084,481 299,612,899 1,521,745,665 1,524,844,506 553,054,584 336,456,492 1.535,058,569 11,623,079,749 556,637,012 355,330,080 1892.. 1,753,339,680 1,712,769,026 648,513,809 411,659,996 1893... 1,556,761,230 1,785,150,957 706,865.643 486,244,079 1894.. 1,677,801.201 1,747,961,280 658,107,494 471,298,816 1895... 1,736,022,007 1 810,597,028 712,410,423 546,652,657 1896. 695,659,914 586,468,156 1897... 257,878,114 94,878,842 3.419,343,819 566,922,205 83,183,718 3,757,249,426 99,521,667 4,035,622,914 94,959,727 4,165,065,137 93,091,148 4,619,373,659 68 552,696 4.603,574,605 66,074,549 4,621,243,340 81,824,932 4,887,507.042 59,116,878 4 916. 814 233 50,278,243 5,050.697,841 1898... 2,522,157,509 2,230,366,954 1,164,020,972 835.499.064 62,085,084 5,725,577 845 64,974,392 6,817,018.891 96,206,049 7.298,814,381 1899. 1900. 2.458,092,758 2,449,547.885 1,266,735,282 1,028,232,407 1901.. 2,941,837,429 2,597,094,580 1,610,502,246 1,271,081,174 118,621,903 8,539,137,332 1902. 8.098,875,772 2,750,177,290 1,698,185,287 1,525,887,493 131,669,948 9,204,795,790 1903.. 3,200,993,509 2,935,204,845 1,814,570,163 1.589,398,796 133,217,990 9,673,385,308 WEALTH AND PUBLIC DEBTS. [Wall Street Journal.] A public debt has been considered by many writers as an element of strength to a government, especially if that debt is held by the citizens of the country creating it. It serves to promote patriotism, and to safeguard the government against revolution. But there is undoubtedly a point at which a Government debt, instead of being an element of strength to the country, becomes an element of weakness. That point represents an aggregate of debt which becomes burdensome to the people by being out of proportion to the wealth of the nation and to its reasonable capacity for raising Government revenue. It becomes therefore of interest to compare the debt of the leading nations with their estimated wealth, and their population and revenue, with the view of ascertaining whether any of them have reached the point of weakness. The following tables show the population, the aggregate of funded and floating indebtedness, the yearly revenue, and the estimated wealth of seven leading countries of the world: The statistics of population, debt and revenue as given in the foregoing tables, are taken from the figures published by the Bureau of Statistics at Washington. The statements of wealth are estimates of recent years, but must of course be regarded as merely estimates, for any accurate figures bearing upon that point are practically impossible. It is quite likely that these statements, while in the main fair, really underestimate in some degree the actual wealth of the different countries. It appears, therefore, that the debt of the United States is less than 1 per cent of its estimated wealth; that of England is about 62 per cent; that of Russia 10 per cent; that of France 12 per cent; while that of Italy is 17 per cent. NATIONAL BANKS FROM 1863 TO 1903. This table presents a statement of the number of national banks organized in the United States in each year from 1863 to 1903, the number in voluntary liquidation, and their capital, the number of insolvent banks and their capital, the net yearly increase and the net yearly decrease in capital. This table is especially suggestive as illustrating conditions during the period from 1893 to 1897. The number of banks established fell off more than one-half immediately following the year 1893; the number of insolvent banks, which had never been more than 25 in any year prior to 1893, was in that year 65, and the capital involved 10 million dollars; and while in years prior to Democratic control there had been a net increase from 6 millions to 30 millions of dollars per annum, there was during the entire Democratic period a yearly decrease ranging from 5 to 11 million dollars per annum. A study of conditions since the return of Republican control and the protective tariff, and especially those since 1900, is also suggestive and will prove of value in meeting the assertion that prosperity is "fictitious," since the capital of newly organized banks now averages six times as much annually as during the Demo; cratic period. The very large increase in the number organized since 1900 is, of course, due in part to the enactment in 1899 of the law permitting national banks to organize with a capital of $25,000, and under this law the number of national banks now being organized annually is ten times as great as the annual average during the second administration of President Cleveland, and the total capital about eight. National banks organized since the establishment of the national banking system. [From the report of the Comptroller of the Currency.] No. Capital. No, Capital. No Capital. No. Capital. No. Capital. 1887.. 1888. 1889. 1890. 1891. 1892. 1893.. 1894.. 1895.. 1896.. 1897. 1898. 1899. 1900. 1901. 1902. 1903.. Aggre 225 30,546,000 25 2,537,450 8 1,550,000 192 gate.. 7,029 860,931,182 1,483 260,239,550 41871,167,4205,409 592,062,332 28162,538,120 26,458,550 Money in circulation in the United States, 1800 to 1904. [From the Statistical Abstract.] in circulation is in gold or in gold certificates which are the medium. It will be seen, also, that a large share of the increase coinage of silver would give a proper increase in the circulating cratic party insisted in 1896 that only the free and unlimited in circulation has increased about 66 per cent. since the Demoperiod. Attention is also called to the fact that the total money reduction in total and per capita during the recent low tariff slow prior to the protective period and that there was a great will be noted that the growth in total and per capita was very by quinquennial years, and since 1880 are given for each year. It the figures are given for decennial years only; from 1860 to 1880 the United States from 1800 to 1904. In the period prior to 1860 This table shows the various kinds of money in circulation in Money in Circulation in the United States, 1800 to 1904. equivalent of gold. Clearing-house returns of the United States, showing depression in low-tariff and Democratic years. [From the Statistical Abstract of the United States.] Number and mileage of railroads placed under receiverships and sold under foreclosure during the calendar years 1876 to 1903. [From the Railway Age, Chicago.] Our country is growing better, not worse-Hon. C. W. Fairbanks, at Baldwin, Kas., June 7, 1901. In the ballot-box our liberties are compounded. See to it that it gives true expression to the public will. Preserve it from pollution; protect and defend it as you would the Ark of the Covenant, for it has been purchased by the priceless blood of countless heroes upon the battlefields of the Republic.-Hon. C. W. Fairbanks, at Baldwin, Kas., June 7, 1901. Bank Deposits in Each State in 1892 and 1903. The following table shows the total bank deposits in each State in 1892, the last year of President Harrison, 1896, the last year of Cleveland, and 1903 under President Roosevelt : Deposits in banks of all kinds in the United States, 1892, 1896, and 1903. [From Official Reports of the Comptroller of the Currency.] Aggregate, United States only, $9,530,429,252. Annual increase in individual deposits, 1892-1896, $ 70,000,000. Commercial Failures, 1880 to 1903. The table which follows shows the number of failures, the number of business concerns, the percentage of failures, the total liabilities of failing firms, and average liabilities, in each year from 1880 to 1903, as shown by Dun's Review, a reliable and nonpartisan publication. The table needs no discussion, though attention is called to the fact that in no year since 1897 has the number of failures or the amount of liabilities been as great as the lowest record of the four years' period under President Cleveland and low tariff, threatened or actual. The annual average of the liabilities of failing firms during the four years 1893, 1894, 1895, and 1896 was 230 million dollars, and during the four years. ending with 1903 was 131 million dollars, in spite of the fact that population at the end of the second period was 80 millions, against 70 millions at the close of the first period. Thus while population increased 14 per cent, the liabilities of failing firms decreased 40 per cent. |