The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1878-12-04
OLD MONEY-BAGS.

ahe dnn"et Report OF Treasurer Gil1illan.
Treasurer Gilfllan's report shows that the
total resources in coin and currency were on
Sept. 80, 1876, $1sS, 024, 472 49, in 1877. S243.-
6Sl, III .25; in 1878, 1881, 424 ,964.74. He says
the coin resources have steadily increased from
$6I, aS6;1O5.95 on the above date in 1876 to
1855, O72.24 in 1877, and to 1925. OO7 STA 50
in 1878. The total amount Of unavailable
monies carried in the balance Of the accounts
kept in the treasurers office was 49, 642. 81 less
In 1878 than in 1877. Under the operation of
the act of 1875, providing for the retirement Of
legal tender notes equal to so per cent. of ma
tlonal bank notes issued, the aggregate amount
retired from 1876 to 1878 was $35,3lS, 1884, leav-
ing the amount of legal tender notes in circula-
ton on June 30, 1878, at $34G, 68l ,016. The
act of Feb. %, 1878, required the coinage of
silver dollars of the weight of 4121a grains troy
OF standard silver. The first coins under this
act were received at this Office 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,O42,027. The total amount of standard sil-
yer dollars coined to date is $1S, 2S2, 500, of
which amount there is in the minis and offices
1913, $780, 877, and in circulation 81, 922, 623. At
present they are Sent only to depository banks
and the offices of the treasury, and are used in
payment of silver bullion and in payment to
express companies on account of their charges
for transportation of the coin. The largest
payments of silver dollars have been made at
New York and San Francisco, but the coins
issued at those points Immediately find their
way back to the treasury vaults. either as re-
celpts from customs or as deposits on account
of silver certificates Or in payment of subscrip-
tions to the; per cent. Loan On Oct. 81. lS7S
there were $l4,359, 1877 of this coin on hand,
and $4,922, 6l2 outstanding. The aggregate
amount sent to depository and other banks is
$3,374, 1885, @t$FE ttEf5Eg 55s sFs
hot o%o
to date is 49, 575, $50; at Washington, S46l, $50;
at New York, $346,0O and at San Francisco
81, 76S, 400. Only 81, 81, $50 are now in circu-
lation, the remainder having been paid into
the treasury through the; custom-heuses, and
not reissued. The certificates issued at San
francisco found their way at once to the New
York custom house. There is no demand for
silver certificates in exchange for silver except
at points where silver bullion is purchased by
the department to be paid for in standard silver
dollars. 80 $50 gzl ~ 5sat an Eg54EI s5.e
The substitution Of fractional silver coin for
fractional currency has progressed during the
year, though not with the rapidity of the
former year. The amount of fractional cur
rency redeemed since June 3d. 1874. is 50, 1911. q
934.l5. OF this amount however, 81, lis, 526 10.
during the present calendar year, was redeemed
IN United States notes. The total amount of
fractional currency redeemed under the opera
ton Of the act of April II, 1876, to Oct. 80,
1878, was 1915, 297, 5000. Since April Is, 1876,
there has been issued of fractional silver coin
800, 12S, l66, and, though the coinage has been
suspended temporarily, there is still q demand,
which is supplied from the stock on hand in
this office and in the mints, which, together
with that in other offices. amount at this tipe,
to So, 067, 96O.lS. The amount paid out since
june 80, 1877, to date, is $6,542, 1913. The
amount of fractional silver paid out at the sew
eral offices of the treasury from April Is, 1876,
to Oct. 81, 1878, amounted to $3.50. TBS l66.
The receipts of public money by the deposit
tory banks during the fifteen fiscal years from
1868 to 1878. amounted to $S,30S, 750 GAG. so, or
over 1920, COO, 600 a year, of which only $685.
600 stands on the books of the treasury de-
partment as unavailable by reason of the fail
ure of any depository bank, and the govern,
ment has security for large portion of the
latter sum.
The operation Of the national bank redemp-
ton agency for the fiscal year again show an |
increased amount of work performed, at a, re-
duced expense. The number Of national bank j
notes redeemed, assorted and charged to the |
banks of ISSUE was %, 927, 642, an increase of |
182, 294 over the preceding fiscal year. The ex-
penses Of assortment, on the other hand, de- |
creased from $167, O4.O5 to $l44, 52I,SS, dim
mutton of $2S.1S2.17, or nearly IA per cent.
The outstanding circulation Of the I
national banks At the close Of the fis-
cal year was $324,514,2 1884. The cost of
when computed upon the amount,
was considerably less than one-tenth of one
per cent, or less than 800 per annum for q
bank OF $50, 600 circulation. The actual legal !