The New York herald., 1878-11-28

find their way back to the Treasury vaults.
either as receipts from customs deposits on ac
count OF silver certificates or in payment of snnscrip
tion to the four per cent loan.
The Treasurer states that October 81 last there
were sit s53,s77 of this coin hand and Si92a 623
outstanding The aggregate amount sent 10 oe-
positary aud other banks is s3,374y95.
SILVER CERTIFICATES.
The third section of the act above mentioned au-
thorzed the issue of silver certificates, which were
upon the OF the act prepared issue ut this
Office and the offices Of the assistant treasurers in
in New York and San Francisco in denominations Of
from $40 To 100 The total issued to date
~ $o,575 1so; at Washington s4Gl5so; at New York,
S3i6vOO and Al San Francisco, 81, ,7Gs.400.
There is, however, circulation but 81 SIT 3S0 the
remainder having been paid into the Treasury through
the custom houses. 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 de-
partment to be paid for in standard silver dollars.
FRACTIONAL SILVER.
The substitution OF fractional silver coin for frac
tional currency has progressed during the year,
though not with the rapidity of the former year.
The amount of fractional redeemed since
49, 1877. is 81 l9 93i Is. OF this amount. however,
Sl,llS.526 10 during the present calendar year was
redeemed in United States notes The total amount
OF fractional currency redeemed under the operation
of the act of Congress approved April H. 1876. to Oc
tober 80. 1875 was s25,29 $50 20. Since April 1s
1876, there has been issued of fractional silver
coin $39, 166. and, though the coinage has
been suspended temporarily, there is still a
demand which is supplied from the stock on hand
that in other Offices, amounts at this time to
S6.067 .960 1s The amount paid out since June 80
1877, to date is $6542 893. The amount of fractional
silver paid out the several offices Of the Treasury
from April Is 1876. to October 81, 1873 amounted to
$50, 1866.
NATIONAL BANK REDEMPTION.
The operations of the National Bank Redemption
Agency for the fiscal year again show an increased
amount of work performed at a reduced expense.
The number of national bank notes redeemed,
assorted and charged to the banks of issue
the number assorted in the preceding fiscal
year. The expenses OF assortment under
which head are included all of the expenses of re-
depion with the exception of the charges for trans
portaton, the other hand, decreased from
Sl6T.70i U5 to 52 50, diminution Of S23182 n.
nearly fourteen per cent saving effected in
every item of expense compared with the preced
ing year. The outstanding circulation OF the national
banks at the close of the fiscal year 1924
The cost Of redemption, when computed upon this
amount. considerably less than onetcnth Of one
per cent. or less than $50 per annum for bank of
10000 circulation. When weighed against the adva-
tages flowing from prompt and eifectual system
OF redemption this expense is scarcely worthy OF con
to be maintained in circulation ranged from six per
cent for country banks to twenty-five per cent for
banks in the city Of New York. with interest at six
per cent per annum.
OF S2l0 So in bank notes received for redemp-
tion $50 000 826 per cent, was received from
the city Boston and $66 000 314s per cent,
from the city Of New York nearly seventy per cent
of the entire redemption having been received from
these two cities.
RECEIVED FROM NATIONAL RANKS
Under section 5,o14 of the Revised Statutes there
has been assessed and collected by the Treasurer from
nat1onal DanAs since lSof at al expense Oh not more
than one tenth OF one per cent, as follcws:-
On circulation S39.777 S79 IA
On deposits. 40,332, ,341 43
On capital 5,J35 $50 81
Total .............. $50. .O45,771 IL
The highest amount Of duty on circulation was re-
ceived for the six months ended December 81 1873.
being 81 7O4 .9O2 76 In the last six months it
81, ,492, ,224 81 The highest amount of duty on de-
posits was received for the six months ended
December 81, 1875. being Sl,IS2. .I61 81 In
the last six months it 81, ,622, ,S62 "a. The
highest amount Of duty on capital was
1896 a. The total amount collected the three
items for the six months ended June 30, 1878. was
S3379,252 OF.
In concluding his report Mr. Gilfllan speaks in
complimentary terms OF his subordinates. and says
that with very few exceptions they have performed
their duties faithfully