Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-12-13

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Director is made on the Isl ii January next, more
minute account Of all his operations win Ills v,e"s
on these transfers, viii u presented, accompanied
snch suggestions fer iu:,i"f i'!'"'''"n On uS
as his eX;crrncr may lead him In consider useiui.
The Min. and II. hs,nc.cs ;"o"d, ~ my opinion Dc
more eiirclu.ly assisted - means at aipt"lal'"hs'
rather than Transfers u supply iny anu Pfoh'Puy
the addi,iuui Cottage. mri l'r additional wants "'
.ba co,,pn;:y may !r.,l time tine require. HE
Department is a;il convinced for reasons formerly urg
ed on the co!.Idei alton If Congress- that gold coin "a
one dollar in value might he very convenient an" 1S.i"
to the public in many Of the ordinary TRANSACTIONS 81 S
cirty. The branch nints are ali IN progress az" w.
probably be completed ty jams mkt. aud the'r 'ae
~ at still earlier day. The c";nage ~ '' wv. eu, w."
mence Immediately after their comPleiion'H Tue p'"t'
appropriations in The meau time mace UNI -. t
per officers appointed The greatly nci'asr" lh,i
OF gold now existing in the country a'':oun.S' Co.,
to upwards of Sl5,000,GOO For lhs' we are enHny M
debted TO the new valuation OF our com, 'houS" SUM
influence must be ascrbcd 10 the ehot,s made oy Tie
General Government aud most OF 'he states 10 sup
urcss the circulation Of small bills as well as |" tn'
favorable. condition Of our foreign exchanges since i2
and the policy otorleng home the foreign ndcmntes IN
gold and encouraging public payments TO be, III part,
n,ade with this kind Of coin. At this lime, The alum
dance of gold here is such to have produced inceas
ed facility in distant specie operations, and Is 1ccon
inc more widely and beneficiay dtiuseu over the dlt-
terent sections OF the Union, the greaee accomnnda-
ton of most classes Of people, particularly III travelling
aud exchanges, and TO the permanent Improvement o.
our circulating medium. The amour. Of gold coined
since the valuation in 1854, has been near Sioo"'
OOO and has exceeded by or two millions the wi'e
amount coined in the hirtyone previous yelrs which
had elapsed, after the mint went iato operation lie
amount coined during The past twelve months alone is
greater than that during the whole OF the first sixteen
wears after its establishment Another Important ana
gratifying consequence which has resulted prihcpalF
from the present policy and system to the currency
has BEEN that, OF all the gold coined before August
lS34 amounting ebou, $4,000 600, probably no, ST.
100000 then remained III the country; OF Thai small
amount only very G!nuve portion was IN active CIR
culation 49,
indeed, before 1884 coinage Of gold was of little
benefit except to purify and prepare the bullion ior eX
porlaton and for The of fore ign n!n,s
But the great mass of $4,000 900, since coned
undoubtedly remains in the country, an1 an increased
and increasing proportion Off, is in sctlse ana convent
ent circulation TO promote this desirable end, larger
portion than usual Of quarter has been recently
struck, and the whole number oil gold pieces of every
kind made since the beginning Of The present year Is
about 100000 and almost equals the entire number
coined during whole forty years previous TO the new
coinage. The change in the amount OF specie Ut all
kinds in the country during the last three years, Is high
~ gratifying earnest OF more solid basis TO pa
per circulation already too large in proporton and as
security only 10 those classes who are most sale ia
the employment of metallic currency for all
purposes, but to the banking institutions themselves in
periods Of panic aud umtayorable balances in foreign
trade. The whole specie IN the country in Ocobcr loa
when the public depcsIes removed from the United
States Bank, did not probably exceed $4,000 0U0, und
the portion Of this in banks is not supposed to have
ceeded 500 000000 while now, the whole specie in the
portion in banks is believed to BE- $40 900 ca@-
ing S2S, 900 900 in active circulation.
The paper circulation within tic above period. has al
SO been greatly and unfortunately enlarged From abou!
$50 000 which then the supposed aggregate at.
ter deducng the large amount Of Ou0 Tor notes
held in different banks, has probably rlsen and chiefly
within eighteen mouths past TO about $40, 900 OOO.-
But this increase, though great 1t will be seen is not
half great relative Increase as has taken place III the
whole specie in the country, quite great has
happened in the specie in the banks alone Computing
that the paper in active circulation in The United States
has generally averaged about two TO Of specie
hand the banks and was in Ocloer 1888 about three
10 one, near 3O per cent over the usual proportion,
the comparative amounts OF specie at the several
turns, from 1888 TO 1886, presented very favorable
change, had become greater kan tie Usual proportion,
and now, in all the banks, taken a whole,
somewhat improved socc 1888 But they have much
deterioraled the last year and half. Again While the
amount well proportion Of specie in the country,
is much greater than it two years ago, and the pro-
portion pie for the paper circulation in several Of the
banks and States yet it is manifest that many nsttu
tons in other States have Of late departed widely
from The proper and safe proportions than their peculiar
location advantages for business, however favorable
nigh, warrant sound banking principles. AS some
illustration Of the general changes these points since
1888, The following brief exhibit in round NUMBERS and
in tabular form, prepared partly from acuul returns
and partly from estimates, may he useful.