Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-12-02
OLD MONEY-BAGS.

/
Treasurer Gilillan's report shows that the
total resources in coin and currency were on
Sept. 80, 1876, $1eS. 024, 47239; in 1877, $685.
6Sl, 1l1.25; in 1878, 1887, 424,964.74. He says
the coin resources have steadily increased from
ST., 5S6, 7O5 IS on the above date in 1876 to
1888, 2.24 in 1877. and to $236, 007 574. SO
in 1878. The total amount of unavailable
monies carried In the balance of the accounts
kept in the treasurers office was 49, 642. I'll 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
tlonal bank notes issued, the aggregate amount
retired from 1875 30 1878 was 535,3l8, 1854, leay-
ing the amount of legal tender notes in circula-
tion on June 30, 1873, at 1916, 6Sl, DIG. The
act of Feb. 20, 1878, required the coinage of
silver dollars of the weight of Diagrams troy
| OF standard silver. The first coins under this
act were received at this Office from the mint
IN March, 1873, and were exchanged with the
public Tor gold coin. The amount so exchanged
at the miuts and at this and other offices was
Sl,O42,O27 The total amount of standard sill
yer dollars coined to date is $1S,2S2. 500, of
which amount there is in the minis and offices
$l3, 359, ST, and in circulation, "a 1922 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
payments of silver dollars have been made at
New York and San Francisco, put the coins
issued at those points INN diately find their
way back to the treasury vaults, either as re-
| ceipts from customs or as deposits on account
of silver certificates or in payment of subscrip-
| tons to the per cent. loan. On Oct. 81. 1878,
there were Sl4, 359, 877 of this coin on hand,
and $4,922,6l2 outstanding. The aggregate
amount sent to depository and other banks is
1894 995.
The total amount of silver certificates issued
to date is So, 575,790; at Washington, 1850;
$7,768, 400. Only $l,5T $3.50 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 form standard silver
dollars.
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 80, 1874, is 81, 191,-
934.15. OF this amount, however, 81, l1S, 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 $25, 297 5000. Since April Is, 1876,
there has been issued of fractional silver coin
439, 72S, l66, and, though the coinage has been
suspended temporarily, there is still demand,
which is supplied from the stock hand in
this office and in the minis, which, together
with that in other offices, amount, at this time
to 56.067 ,96O.18. The amount paid out since
June 30, 1877, to date, is Sc, 542, 1893. The
amount of fractional silver paid out at the sew
eral offices of the treasury from April IS, 1876
to Oct. 81, 1873, amounted to $3972S. 166.
The receipts Of public money by the deposit
tory banks during the fifteen fiscal years from
1863 to 1878, amounted to $3,30S, $50, 24660, or
over S22O, OO0,OO0 a year, of which only $685.
O0O stands the books of the treasury de-
partment as unavailable by reason of the fail
ure OF any depository baMk, 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 re-
duced expense. The number of national bank
notes redeemed, assorted and charged to the
banks of issue, was 22.927, s42. an increase of
1872, 294 over the preceding fiscal year. The ex-
penses of assortment, ON the other hand de-
creased from $l67. 704. O5 to $l44 521, 49, q dim
in mutton of 1913: 1927, or nearly IA per cent.
The outstanding circulation of the
national banks at the close of the is
cal year was 1924. 1884. The cost of
redemption, when computed upon the amount,
was considerably less than one-tenth of one
per cent, or less than 800 per annum for a
bank of 100000 circulation. The actual legal
tender reserve required to be maintained in
circulation ranged from per cent. for country
banks to rs per cent. for banks in the city of
New York, with interest at per cent. per an
mum. Of $210,390, 437.56 in bank notes re-
ceived for redemption, ss0,527, 900, or 1926
per cent, was received from the city Of Boston
and $66, 273CO0. or 3l.4S per cent, from the
city of New York, nearly 70 per cent of the en-
tire redemptions having been received from
these two cities.
Under section 5,214 of the revised statutes
there has been assessed and collected by the
treasurer from national banks since 1861, at an
expense of not more than one-tenth of per
cent, $50, 045771.1l as follows: On circula-
ton, s39 III, S79.14; deposits $40 1872, "a 49,
and on capital $685.. 55O.54. The total
amount collected on the three items for the six
months ended June 80. 1878, was $3.50, 25207,
as follows: On circulation. $1492 22457 on
deposits, 81, 622, 1924: on capital. S266 O23 "a