Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1878-11-08
ton ofthe treasury for specie resump-

ton ofthe treasury for specie resump-
4 ton, ETC.:
TREASURY DEPARTMENT, OFFICE or THE sEcRr-
TARY, WAsHISGToN, d. C., Oct 3l.-J. Leroy Il.
/ D0dd, buchanan, Mict.-SIR: am IL receip.
OF your letter OF Oct. 29th. making certain lnquir
les TO the condition of the treasury for les imp
\ ton and the amount of paper circulation per
capita in this country and the principal countries
/ If Europe. In reply, have 10 inform you that or
1 the lst of Oct. the coin balance OF the treasury
was S232, 659 6i6 This entire amount, however.
was not ailable for resumption purposes, hu:
subject 10 liabilities, as follows
Interest due and unpaid. ,.......... Q, 3i5, $50
Debt on which interest has ceased II, 524, go
Interest thereon. a....t.s.... 3I3, on
Coin certificates gold .....,,.s.. ~, $40 toe
Coin certificates silver t.,.. j. S4S, O'u
Unclaimed interest ........ .......... 9. 451
Unmatrred bonds called for resumption Il, 500, COO
To,al.................... ......... sq8, i27, *,
Leaving for resumption purposes, Sl3i, 23l, STD.
The coin receipts into the treasury will prob
ably exceed by considerable amount the coin
payments between now and January, 1879, 50
that at least the above balance will then be avail
able for resumption purposes.
Ii should also be horne in mind that meanwhile
there is probability of the entire coin abili-
ties being presented for payment.
AS to the paper circulation OF the European
countries this department has nolnformaton eS-
cept what can be obtained from publications
open TO all. The London Economist OF Sept. -.
1878, the latest at hand, states that the amount
of paper circulation of the banks in the United
Kingdom, the amount retained IN the banking
department of the Bank OF England, to be f43,
966,971. The circulation of the Bank OF France,
which alone in France has authority 10 issue
notes. was said to be, Sept. 8, 49i,7l0,0J0; ans
that of the Imperial Bank of Germany, Sept :,
go, 4t0,000. 1t is understood that some OF the
country banks of Germany have authority under
certain restrictions 10 issue notes, but as the
amount issued il not stated in the financial pub
LEGATIONS it is believed TO be inconSderable.
Reducing these amounts to the currency of this
country, the per capita OF circulation appears 10
be as follows:
Populdtioa. Per
France $500, 987, 900 36. eo5, 7ss sic Is
United Kingdom 213, g65, eco 30, 474, 600 63a
Germany ....... 14S, Ol5, 600 ~, 127, 36l 346
United States Il. 6SS, 500, go AZ, 000 600 IA t.
1t will be seen that the aggregate, as we'll as the
per capita, amount Of paper circulation is larger
in this country than IN any of the other countries
named and largely in excess of any except that 81
France. In that country. however, the circulation
has been reduced to the amount above stated
since November, 1873, from $602 100000, reduc-
ton Of Sal 09300O. willis III the same period the
metallic reserve Of the banks has increased from
Sl46 0O0, 600 to $435,00J000. Very respectfully
JONI SHERMAN, Secretary.
PAYNE's PROMOTION.
A Washington special of Nov. Is;
says; President Hayes to-day signed the
commission Of Halbert +. Payne, Of
L. ,,,1,,, -, e