Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1878-12-11

Of standard silver. The first coins under
this act were received at the Treasury
from the mint in March, 1878, and were
exchanged with the public for gold coin :;
the amount so exchanged at the minis
and at this and other offices was $1,O42,
O27. The total amount of standard silver
dollars coined under the obove act to
date is $1S,2S2,5 800, of which amount
there is in the minis and offices Sl3, 359,-
ST. and in circulation $4,922,G23 The
amount sent to depositary banks was So
OO6,995, and to other banks 1865, 900, MAX
ing total Of $3,375,995.
The third Section Of the act above men
toned authorized the issue Of silver Ger
tificates, which were, upon the passage
of the act, prepared for the issue at the
Treasury and at the offices of the Assist
ant Treasures in New York and San
Francisco in denominations of from $40
to $1,000 The total amount issued to
date is $9,575, 7S0; at Washington, S461,-
$50; OF New York, $347, 900, and at San
Francisco, $7,768, 400.
There are, however, in circulation only
81 SIT $3.50; the remainder having been
paid into the Treasury through the Gus
tom Houses and not reissued. The GER
tificates issued in San Francisco find
their way at once to the New York Gus
tom House. There is no demand for sill
yer certificates in exchange for silver ex-
cept at points where silver bullion is
purchased by the Department to be paid
for in standard silver dollars.
The substitution of fractional silver
coin for fractional currency has pro-
crossed during the year, though not with
the rapidity of the former year. The
amount of fractional currency redeemed
since June so, 1877, lis $4,191,9 1874. Of
this amount however, 81, 1885, during
the present calendar year, was redeemed
in United States notes
Since April Il, 1876, there has been
issued, of fractional silver coin 500, 72S,-
1876, and though the coinage has been
suspended temporarily there is still a
demand which is supplied from the stock
on hand in the Treasury and in the minis,
which together with that in other offices,
amounts at this time to $6,067,96O The
amount paid out since June 80, 1877, to
date is $6,542, 1893. Estimating the loss of
fractional currency at $9,0S3,513, the fig
ures reported by the commission aD-
pointed by the Secretary Of the Treasury,
there may still be issued, before the limit
of fifty million dollars is reached, So, 1871
6S4 in exchange for fractional currency,
and So, 144, 149 for currency obligations.
The accumulation of minor coins,
which seemed excessive last year, has
still further increased from $4,000 on
September 30, 1876, to $S7O,O0O in 1877,
and to 81, 41O,S9S in 1873 representing at
least $50 tons of metal. There is a de-
mand at this time for the bronze one-cent
piece, which probably cannot be sup
piled without coinage. Of all other
denominations there is an increasing
supply in the vaults. The amount on
hand in the various offices is as follows
Five-cent nickel, $1,O36, 422; three-cent
nickel $145, 512; twO-cent bronze, $76,-
312; One-cent bronze, $10,427; one-cent
nickel, STA, 494; one-cent nickel and
bronze, $16,027; one cent copper, $11 $50.
Under Section 5,214 Of the Revised
| Statutes, there has been assed and col
lected by the Treasurer from national
banks since 1864, and at an expense Of
not more than one-tenth OF 1 per cent,
! $S6,045,171, as follows: on circulation,
500, III ,S79; on deposits, $40,332 341, and
On capital, $685., $50.
| From the beginning of the national
banking system the amount realized
from duty on circulation increased yearly
which time it has diminished about $3.50,
900 a year. The amount realized from
duty on deposits increased yearly, with
two exceptions, until 1875, since which
time it has decreased about 100000
per annum, the decrease in the two items
of circulation and deposits having been
$523, 67S since the close of the fiscal yeal
1875. The revenue from duty on capital
increased steadily every year until the
calendar year 1877, during which there
was a decrease of $751;
The highest amount Of duty on circu.
lation was received for the six months
ended December 81, 1878, being $1,704,
902; in the last six months it was 81
492 1924. The highest amount Of duty on
deposits was received for the six months
ended December 81, 1875, being $1,7S2,-
161; in the last six months it was ST.
622, 1862. The highest amount of duty on
capital was received for the six months
ended December 81, 1916, being S341,-
| 9S6; in the last six months it was $780,
| 023. The total amount collected on the
three items for the six months ended
June 30, 1878, was $3,379,252. .