Rensselaer Semi-Weekly Republican, Volume 40, Number 8, Rensselaer, Jasper County, 4 October 1907 — Political Comment. [ARTICLE]

Political Comment.

America’s Banking Strength. 7 In the number of its banks of all sorts and the amount of their deposits, the United States is far ahead of any other two countries. And In both respects it is growing with great speed. There were 6,521 national banks in operation in the United States at the end of the Ascal year 1907, on June 30. These banks had a capital of $898,000,000 and had a circulation of $003,000,000. In each case there was a large increase during the year. In each case, too, the highest figures ever reached were touched., Naturally, there has been a great expansion in national banking since the enactment of the law of March 14, 1900, which makes it possible for banks to be organized on a capital of $25,000, the previous minimum having been $50,000. This act has incited a large expansion in the small towns of the

South and West. There have been 3,510 banks organized since the passage of that law, with a total capital of $207,000,000. The Middle West has 985 of these, the Far West has 807, the South has 889, the East has 575, with a few scattered through. New England and the island possessions. Texas has gained more new banks iu the past seven years than any other State, or '3Bl, with $1T,0007X50 capital, -and Oklahoma and Indian Territory have 295 new hanks, with a capital of $9,000,000.

power—capital, surplus, deposits aiid circulation —the United States is more than two-thirds as strong as the rest of the world in the aggregate, yie Unit-, ed States’ total in these four items being over $17,000,000,000, while that of the rest of the world is approximately $23,000,000,000. This is a striking evidence of the industrial and Anancial ascendency of this country. Moreover, our lead on all those items js increasing rapidly. Our internal trade is far greater than is That of any other- two countries combined, and this calls for an abundant supply of cash and also demands the use of money saving devices, such as checks, drafts and bills of exchange, to an extent unknown elsewfaerer ” " Topuiati orr is growing with much speed in the United States, but the amount of money which is on hand, in various shapes, is expanding far faster. ; " ■ -

Cost of Living and I.nbor. According to a report just issued by the Hnited States Department of Labor it is shown that while the cost of many items’ of living has increased, wages have advanced at a greater ratio, while hours of labor have been deduced. A great mass of facts and figures accompany, the report and the deductions can be tested by any who may he skeptical. On the average labor. for fewer hours, is earning more, with a larger margin of wages over the advanced cost of living. Employment was never more abundant and idlers are few. The comparison is for the year 1906 with the average of the ten years covered by the last census. An advauce in wages is shown of 24.2 per cent, an increase in the number of employes of 44.9 per cent, with a reduction in hours of labor of 4.6 per cent. By the same comparison the retail price of the chief articles of food have advanced 15.7 per cent. For an hour’s labor a workingman get 5 ! 7.3 per cent more food .supplies than in the previous decade. Practical analysis like this disposes of the assertion frequently heard that for the masses the cost of living has outstripped income. Often the many articles that cost either the same or less are overlooked. Flour and sugar are no higher than In the last census ten years. Railroad transportation is lower. First-class newspapers are cheaper and better than'** In former years. The National Department of Labor goes over the subject item by item, land locality by locality, and its conclusions are reached with unerring exactness. This has been a, perverse season in vegetables aud fruitl but the just average of prices cannot be ascertained from n few exceptional articles. When the whole 'field of the income and outgo of a home is covered, as In this careful, unbiased report, the situation is seen to be favorable.-—St. f.ouls Globe-Democrat.

A SerlmiK Matter. The tariff cannot he amended without diligent and thorough inquiry, ami this Inquiry means a great deal of time nnd brings about a sharp conflict of the Jidustrles affected. Modern business is so and tariff schedules are so Involved ami far-reaching that to tinker with the customs schedules is to sot almost every kind of buatneas in engey motion, eitlyw to gain some fresti advantage or else to defeat proposals that seem fraught with menace. All this Is laughed to scorn by theorists as of no consequence, but business men Jmmr it .is a scritnr* matter. - ImHanaiu>lls Star.