Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-10-01

Il
as to tie actual supply. This conclusion
is strikingly illustrated in the following
analysis of the specie movement OF the
three months from June l to Sept. l,
1870:
Coin in U. g. Treasury. oo- 80,
June 1. .......... ......... $106, 7Ss,7Sl
Less held against Certl- ~. 90, o,o
hcates oo.0o1,1
Net coin in Treasury. ST., 5SS.9ol
Coin and certificates in
banks New York, BOS- a
ton and Philadelphia. 3I,o2','OO
Total coin in Treasury
and principal banks .,oO 90, cal
of u. s. June 1.--.--.. slV'''-A'OA
This supply has been since
increased by: ca
Recorded for gn imports
Iune. .-..----...-..-......... SlUofn<f
Recorded for'gn imports ~ ... .-... 1
July. ~o@'"7' r.
Recorded for On imports o,
I August-..... ...s-'.''''.'' AS%'"Ao soo le1
Making known sup
ply gsgt anu Of soooA up. up " s1Os, 5O2 lls
From this supply we have to .'9e
deduct recorded foreign ex-
pOIlo III
June, weeks.-.-.......- 81 SOO,lll
July weeks ......--....... II ,50S, s5V
August, weeks......,...- 1o,2S4,575 90. 90,
Ks sePt t SSr s1och On s77567,48a
The Bulletin says: Lla 55gair II
In other words, after adding to our
stock on hand on June our known re-
ceipts for the three months, and deduct
ing our known losses during the same
time. our stock ON hand should show q
reduction of $31, 354, 149. What is the
fact ~ l-Eiala- -lHe no .o-.- -... --.-.,.
Coin in o. s. Treasury Sept. 105
Less held against Certihcates..,...,.'. 28,4looN
Net coin in Treasury. :. ....... $74, OSs 1886
Coin in banks, New York, Boston and -
Philadelphia -...... .-..-s .'''.--.'' Zo'IS''oo4
Total coin in Treasury and principal
banks of the U. s. Sept l. .......--. 97,328,769
"hl Gnns 1Os ,ss1
Shows total loss for the three months -,
Of SI'osZ,oo@
Although the country has really sus-
tanned, by the heavy exports of the last
three months, q loss of over So, 200, Oe0,
| yet the United States Treasury has actu-
ally gained $3,000,O00 while the banks
have lost only $14,OO0,00Q. Our stock
| in the Treasury and banks should show
loss of $31, 354, l49; they do show loss
| of only 81, 500. S62; where does the diff
| ference of $I9 761, 2S7 come from? At
ter adding imports and dcducting exports
Our total stock Sept l. should 567 4s2
1t really was 9I,S2o,'o'
e1o -e1 oe7
Il come fromE
The most ready answer is from Cali
| fornia. But although our present records
of California receipts, owing to their
coming by railroad, but are imperfect
every one familiar with the Pacific trade
understands that such an amount could
not be drawn from California in three
/ months, without bankrupting half the
mercantile community. We do indee d
know that the receipts from the Pacific
coast have been quite large, but they are
not estimated by any one at over three
/ millions a month for the last three months,
1 and much less than that in June. Sup
posing that they reached 1880, 600 for
the three months, which estimate closely
taIlies with the actual receipts by express,
that would still leave So, 25O, 600 IN
| accounted for. 1t must also be kept IN
mind of the So, 100000 of exported
specie with which we have debited our
account, considerable proportion con
sisted of bullion held in private hands,
and the loss of which did not appear in
any corresponding reduction in the
amounts either in the Treasury or in the
banks. 1t must also be taken into &C
count that the rise in the premium has
naturally attracted to this city consider
able amount of coin which had accumu-
lated in the hands of dealers and private
individuals during the preceding period of
decline.
Entering into the details for each of
the three months, we find that the gain
was pretty nearly equally divided over all,
amounting .~
In June to... 'S51'U5o
In August T34o,l2S
Total as above. ...,S!g I6l, 2oi
And although the gain is largest in Au-
gust, it is evidently not entirely a spasmo-
die movement brought on by the European
war, which, as our readers will remember
was declared only OF the 18th of July,
but a steady regular stream, that requires