US Presidency
1889

It is probable that the adoption of the suggestions made by the Comptroller of the Currency, namely, that the minimum deposit of bonds for the establishment of banks be reduced and that an issue of notes to the par value of the bonds be allowed, would help to maintain the bank circulation. But while this withdrawal of bank notes has been going on there has been a large increase in the amount of gold and silver coin in circulation and in the issues of gold and silver certificates. The total amount of money of all kinds in circulation on March 1, 1878, was $ 805,793,807, while on October 1, 1889, the total was $ 1,405,018,000. There was an increase of $ 293,417,552 in gold coin, of $ 57,554,100 in standard silver dollars, of $ 72,311,249 in gold certificates, of $ 276,619,715 in silver certificates, and of $ 14,073,787 in United States notes, making a total of $ 713,976,403. There was during the same period a decrease of $ 114,109,729 in bank circulation and of $ 642,481 in subsidiary silver.