New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-12-01
dollar in cents for July NJ each year from 1864 to 1871
and fOr N0Yember OF tho present year:

I on Jus dOIIr, WmIfN N WTTT
twenty-five and eishttenh' grains; but me paper do-
lar b. since 1864 has represented gold coin ucua-
ting In weight from less than ten grains 10 about twenty
/ i've grains, as follows:
Isrioa 1864 1855 1866 1857 1865 1859 1870 1871
luy q 81 81 q7 II ff 81 II Gs{5 % S5
Aoy,.--... ~ ..., 800. 80, .-.. 80 49,. -,
Period Ils72I 1873 1874 1870 1875 1871 1877
&c ss So So 81 81 81 g. g rs rs o.
NoytmDer $3.50. $3.50. $3.50, go. - 49,. - ID
These tables by fully represent the exent Of
the fluctuations In the legal standard 81 yue durna we
last sixteen wears The variations cannot be counted by
tue number Of year,. nor even by the number OF day
Ihey nave been nunClOu5 every uay since INC uto VI
suspension and only be numbered by tens OF hou
sands The importer and other wholesale dealers nave
often found during tho last sixteen year,, that woud
have been profitable 10 have bought ana sold god
than tire commodities belonging TO their legitimate trade
Tie tendency of such buchatIons Is either to bankrupt
or TO demoraze al persons engaged IN Ordinary anc;
for under such circumstances business OF every klnu De
comes gimuly q game chance based mon tne ever
changing value weight OF false but legazad stan
abandon their ietlnate basiness aud embark speci
allOns bringing failure and disgrace upon themselves
| and losses upon those VINO conhdc in them.
N the weight OF all the produce which has been Pnr
chased In the last sixteen had been determined Dy
standard pound which varies in weight from SIX 70 SIX
toen onGes or II the measure OF an IsOIioe na ~, ~,
certaned by yarjstck the length or when at Inherent
times ranged all me way IRON fourteen 10 t1ilY-s6
inches, the eyii resulting rom te use OF suel Lse anu
varying standards ~ weight and measure could not De
greater thau tlat which followed the use. during The
period Of 50 false standard OF value as the paper
dollar has BEEN
LITTLE CON- NEEDED.
Not many years ago. IL required 100 large and heavy
weights to balance 100 bushels OF wheat. Today, by
the advance in mechanical science. hye-ponnd weight
viii balance a much larger amount o. produce, while the
actual use Of the pound weight is confined to te small
transactions Of the retail trade. It woull b. inn
practicable weigh the products OF the country with the
coal and OF ccnaljoats Of grain quicy aud accu-
rately determined in pounds upon modem PLATFORM
scale, every one OF which Is exactly sixteen ounce aVo
dupols.
ThcTei- not sufficient gold silver coin IN The country
with which to pay for tho Onctwcue'h part Of the pro-
ducts OF the present year; but the machinery OF the
bank, with It's syslem OF checks ana Wls oil exchange
and ceauuc-houses, will lnv for It al ~ dollars, every
of which will be an equivalent o; the true standard
dollar OF twenty-five ard ciSnttcnihs grams OF sold
Resumption does not mean the actual ana handling
ofthegod dolaT ia ry'ry tiaia3ctlDi. to an cu.Tel!
are but the small change rs d IN thr ieti ,lae b'A-
cuccns and bills Of exchange are the ln'trumehtS en-
whole invoice Of goods. for carloads or coal, and for
houses and lands. Resumption means only that the
10 tWeuty five and cghtteuths grains OF gold, Is the
pound represented upon tire beam OF the platform scale
means that the millions and billions OF business trasac-
tons 0f q single yeai sn eich De ,t urea ny IAt1
ald rue and not By luctuatng and lalso standard OF
G11.,rees on March IS 1863 passed act in which
The United states pie iGes its ;ath 10 make provision
t,ted SITES n67s i'm coin ana on January H. 1870
day was fixed for that purpose. The paper dollar Is
now worth % @ cents in gold ana represents Weigh %
ABOUT twenty-five grains of that metal 10 has increased
I'M us representative value ana weight do per cent,
during tie last ten years more nan 10 per cent dHrE
c st two years and nearly per cent within the last
sX months: aud there apparent good Reason why it
houd not soon he Of the iul standard value, when
boh tne paper ana the gold dollar Will DO an equal
measure If value for the rich and poor alike.
Tnc Government and the banks of the country, also.
II IS believed that tAo National banks vii cordially unite
aCh the Government In restoring the true ,tiudai OF
value whenever tue acts Oh Congress referred 10 SHAH DC
carried into Effect.
iae capital OF the 9.o7s National banks on June %,
1877, was Sisl,oi4,11l; and tho average capital Of
state banks, private banks aud SAVINGS banks nay
d.. capital stock for the six months ending May 81,
IST7 less than half that amount being S223 5O5I92.
rne net deposits National banks was 976s2f57i6
mated was $685. 40 re deposit, 81 80 saEss
banks having no capital stock CIV al S5l3 lo1 sOi 49,
II the number capital and deposits 0f the National
banks June -, 1871, be- placed with TIC number
average capital and average deposits ~ the state Dauks
private banks, savings banks and trust aud loan com
pane, Tor the six months en- iing Aay 81, 1877, 1t VIII
give total number Of 651J, total banking capital OF
STOIJi7 0t3 aud total deposits Of c2l2O,l 1896
INVESTMENT OF RESERVES.
Its estimated b. the best authorities that the Scotch
hanks which have long enjoyed the reputation OF being
vel managed, and the joint stock aud other ncOtpOr
atsd banks OF England mot including the Bank of Ing
Iand hold not exceeding per cent OF their liabilities Ia
ready money. Tie remainder Of their reserves are
ars.ly Invested the English consols bearing interest
at the rate OF per cent annum the average price
OF which, SINCE 1850, has been about o. cents
to the dollar The French Government issues
small coupon bonds or renles IN drhonlhat.ons
As low 100 francs $50 for the convenience or those
VINO desire TO invest their savings IN the puOc uhdS
The failures OF savings banks thtOiShout tblS
country having on dep9st arge houhts vi &c P'vPS
earnings, has suggested the proprety ana poy OF the
by the Government Of per cent bonds OF de-
nominal less than 500. There Is bat little doubt that
the savings ~ the people would De largely invested in
bonds provided they could De- readily Negotiated Dy
| tue holders, when desired, without material loss.
The National banks n the reserve cities are required
kaep A - cent upon deposits, Onehalf
OF which may be deposit with tbeir reserve agents IN
the Cty Ot NcW-NOrk The country banks are required
Ia hold reserve OF ID p0r cent upon deposits three
Gths OF which may consist Of banncc3 with their CORES
the reserve cities. IN amount equal 10 more
than ones Nth of the capital Ol the national banks,
ar about So 900 0OO Is thusi kept continuity on deposit
hanks the reserve cities cons rtbc portion
probably Onehdf OF this amount Is sent h the banks
Ia their spundCBts. moi for the purpose OF legit-
but order to obtain interest on s lunds
| which cannot o. invested by them ~ available loans.
fl authority were gwen 90 the National banks 10 hold IN
A per cent bonds Of denomination less than 500 snch
their on deposit Win tLclf agents
AZ they might think proper n would result IL a irge
them III these securities ana the SaNlgs-
| bank deposition, n he should 50 desire, NOuiu
linen find no iculty In dsp0siBg ~ these small bonds
among the p 100 National banks, one at least OF when Is
ortfed almost every village IA the country. ms
Icy would also have the eject OF streng hcng ne
available resources Of the banks, ana OF retaining IN
hands considerable portion OF these Idle 1unls
which are sent 10 thor correspondents IN The cen
tra cities, and loaned by the lGter To dealers III
| speculative securliith 800 900
II "a rstnated that au amount varying from 500 OOO
600 TO $500 100000 in En- "a sh COnsOs Is held by the
bauks OF tie United Kingdom a. a reserve fund. ana
taere DOS 10 Ge good reason why the per
a similar In his county. The Controller re-
cnnmruds the banks outside OF the CITY OF New
York allowed 10 hold the portion 81 thtlr reserve not
he kept hand cash. tne small a per
cent pnns which be il ucd for the use OF That class
| Of persons now deposiiing III savings banks
----------------------
MIDNIGHT WEATHER REPORT