Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1877-12-07

to have been as follows:
Gold bullion received and operated
Silver Silver bullion received and operated
upon .............,..'.'''''.'' of'fL''oI9''o
Total. ............'.. ''''''''' p'''ollooG'u'
Deducting redeposits- made and issued
by one institution and deposited at another
the deposits were:
Silver ........................... 2S,549, ,995
Minor. ACKNOWLEDGEMENTS. 62,l65
Total ......................... $72,69O. .299
COMPARED with the previous year there was
an increase of 81 9O2, 2}2. % in the amount OF
gold and IS, 236 in the amount OF silver
bullion operated upon; s., 26O in gold
coinage, and 81, ,423, 80 in silver coinage.
The increase alone in the silver coinage over
that of the last fiscal year has been greater
than the total amount of silver coinage exc
cuted in any one year prior to 1874
Under the heading: "Changes IN the rela-
tive value of gold and silver DIR. Linderman
refers to his reports for the fiscal years of
1872, 1873 and 1874, in which the causes operat-
ing to produce an important change IN tne
relative value of the two metals were tully
stated and discussed. Quoting from the re-
port of the u s. Money Commission, in which
1t is stated that, since 1873, the purchasing
power of gold has increased in all countries,
and that the purchasing power or silver mas
decreased in none, the Director says that such
a statement is simply an expression OF opin-
ion and not fact, ascertained and established
according to the rule that the commission lays
down for the correct determination or the
question. The Director cites as a circum-
stance which appears to prove beyond reason
able doubt that the change in the relative
values is due to depreciation, or tall, In the
value of silver, that within the last twenty
two months the export of silver TO the Eastern
nations from London and San Francisco has
amounted to about Sl43,5OO,OOO, and that un-
der that unprecedented demand, lnciudlng
during the same time the consumption or
about sos, 300 900 for the fractional currency
in the United States, making in all over Sill
100000, the average price OF silver mas not
risen above "a pence, against w o-lo pence
the average of 1872. II silver had not depre-
Ciated, this demand, which probably eX-
ceeded the entire gold coinage of the world
for the same period, would have carried the
price to or above the point at which IL ruled
before the German money system was changed.
In the face of these facts, the assumption that
gold has appreciated i'll value does not appear
to be well founded.
The report shows that the total silver bull
ion purchased by the Government for the
fractional coinage under the provisions OF the
Resumption act has been 81, ,S91, 81 standard
ounces at a total cost of S34, 1898, which
will produce, at legal currency rate, 1855,
6SS in fractional coin, The average cost or
this bullion was 2-l0 cents below the equiva-
lent of the average London rate during the
period embraced in the purchases.
l. DR.. Linderman estimates the present run
ming capacity at about s., ,OOO,OOO per month in
silver-dOllar pieces, and believes the issue OF
that amount would prove of much benefit to
the public, aid in stimulating areyival of busi-
ness, steady the value Of silver and protect
our important silver mining interests.
The Director thinks it not FAR out OF the
way to state In1 amount of gold coin and
bullion now in the country at about SlS5,OOO,-
600, and silver at S5O,OOO,OOO.