Romney raises $24 million in fourth quarter

A decisive win in New Hampshire's primary in hand, the Mitt Romney campaign announced Wednesday new ammunition for the next fight in South Carolina, where voters hit the polls January 21.

The former Massachusetts governor raised $24 million in the final three months of last year, leaving him with $19 million in cash on hand for upcoming primary races, including the Palmetto state. That is the most money any Republican candidate has raised in the quarter. Texas Rep. Ron Paul raised about $13 million in the same period.

The latest figures bring Romney's total this election cycle to $56 million after he raised $14 million in the prior three month period and $18 million in the three months through June.

Romney's National Finance Chairman Spencer Zwick sought to use the impressive fundraising to portray Romney as the presumptive nominee.

"Mitt Romney's growing financial support is representative of the growing momentum for our campaign. In order to defeat President Obama in November, we will need this continued strong showing of support," he said.

Romney himself has spent a significant amount of time off of the campaign trail fundraising - even until late December, when almost all of his rivals were out campaigning full time. His wife Ann has also been traveling to attend fundraisers both with her husband and on her own.