New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-12-08

honest and healthy Of credit by the commercial
abatement OF the rates Of interest In NewYork City
carefully prepared from daily reports shows the Hollow
The average rate OF interest the year ending June
So 1873 per cent ON call loans and 90 per cent on
60 @ ZIP pseI anu nIr Sas M pr e on call loans
and 81 per cent commercial paper The average rate
for the preceding year 3S per cent on call loans ana
81 per cent commercial paper and for the six months
ending oct 81 1874 II was ~ per cent on ca, oah
DE that during the periods given above Tor
1879 somewhat less than for the corresponding pe
The act OF June 90 1874 provides for the retirement OF
the circulation OF National banks and the surrender OF
tender notes Treasury FOR the amount of crcula
ton thus retired and the act OF Jan Ia l9Io pTotues
for the unlimited issue OF circulating notes 10 NaOha
banks subject TO the provisions OF law" anu tDe Iouucou
OF The egatender notes at the rae oi 80 per oI
tender notes shall be reduced TO SJOO,OOOOOO Under
the operation of these two acts 10 OF kato9a
1874. to Jan Ii. 1873 ana si09sG675 from Jan II TO
legal-tender notes hayo been retired
banking having been made Tree by the act OF me last
atng notes that be issued TO any part OF te conn
Try 1t Is believed that such currency VIII ulstipute
Itself according to the demands and necessities OF Dus
nees The privileges which attach 10 National banks
being open 10 individuals III all paris OF the country ca
tai viii not be SLOW 10 establish additional banks, OF W
whenever and wherever the exigencieso OF business sa
render apparent that an increase OF Is dcs
able But IL does not seem proDaDle tat suol Iouinu
will arise TO any considerable extent wue inc volume OI
to lie Idle in commercial centers, Tor want oi SAFE
ana profitable investment
Inc whole amount OF legal tender notes deposited 10 re-
ro National bank circulation since June 20 1874 is
7 576,179, QnclUdng S5,Sl3.675 deposited by banks
which Si7 337 537 has been paid out Tor the redemption
OF National bank notes. leaving SO25S 642 thereof on
deposit in the Treasury the Isl day OF November last
OPERATION OF BANKING ACTS.
The operation of the acts OF June 90 1874, and Jan
Ia 1875 may he briefly stated in tabular form as fol-
lows:
National hank notes outstanding June 90 1914
National bank notes issued rom ~ he =. 20, ,oo
National bank notes retired from June 80 90.
90 1874, 20 Jan. IL. lS76...:.. 27tI25S- iSof'-oo
Amount outstanding jan H. SOL 1851. i5o
National bank notes retired nom jan nc, ooo
National 6ank notes issued from Jan. -.- ,o-,-,,
H. 1870, to Nov. l. l5'J-.-..'' lO9oOo'o- o-'''ofo
Amount outstanding Nov 1s75....... So .5sG,so2
cfrcaiaioi ssei from ian II 10 oct % 1878. s763,75G
Legal tender notes deposited in the
Is J. together with 80 1865 de-
posted 6y banks in liquidation pre-
1ious 10 tho passage OF tlint act S3I.55Gl5g
Amount AmSn Ttms 9 on deist for redemption Of
National bank poies Nov l. s2.-,S;os@
made these acts Ear as they relate 70 the
Tao amount of cash reserve held by The national
banks including their redemption fund on deposit with
the Treasurer oct J. 1875, the date Of their last re-
port was 460452, which is $2j3G5,319 more than
they woald have been required To hold upon CIRCULATION
and denositS prior to The passage OF the 3ct d juno ~
1874 repeating the provision requiring reserve upon
circulation and the cash held by New-NOrs CITY
banks at the ast-naned date S6J,167,Iu3, Whlch
also exceeds by 1924 667 the amoln That would have
been re1urcd UOn circulation and deposits previous 10
the passage OF mat act from which ii ie seen That on
account OF the redundancy Of money, tac oafhoh OF
business and cuent low rate OF interest CHrins
the uast year the effect Of the aCt rrpeang the reserve
upon circulation cannot yet DO definitely asoertancd.
COINAGE.
The report of the Director OF the Mint presents IN
detail the oYerations OF the MINIS and Assay Offices
TIE amount of bullion received and operated upon
during the last fiscal year was
- - S@',o4 %
SILVER. i0f'f4'f'- W
Deducug redepusifs. bars made is ned uy one IN
sttution and deposited M another the deroSs Wtlr'
Gold J1n< ~. w
silver. 10 O7O626 Il
Total. !.b2t,'2O IL
The coinage iOr tie fiscal wear was IS follows:
No. Of pieces .H y inea.
silver ................ g, ~. .l6 lO9599$eeS
Total 8819l,776 $l3sJi7Os
The silver coinage consisted % 49,,
No OF pieces aiille.:oo
Subsidiary silver cola 11.l23.7 d 4,31-ol3
subsidiary silver coinage has amounted 10 FJ,ooJjlo
Which, added tho coinage Of The year, makes "a
subs diary silver coinage OF S5,261oIo The bars manu-
faCtGrod wcre: .,,o,o 90, n,
...................... 7,i29450 "a