Evening star. [volume] (Washington, D.C.) 1854-1972, 1879-11-18

the amount of certificates set apart for popular
subscription so quickly that the original pur-
pose was almost wholly defeated. The conver-
Slcn OF the certificates into bonds commenced
on June 9, and up to this date ss7 14s9 $50 of the
amount issued has been presented for CONVEX
sion. The total number OF cases of certificates
presented for conversion is $3.50, the average
amount of each case being about $500. The
number of $50 cases deposited is $40; the num-
Der OF 500 cases is $40; the number OF 800 to
600. inclusive, Is 251s; the number over 81 600
Is 2,53l and the largest amount in any one case
was $50. 600. The amount outstanding at this
time is 50, ,s63, ,S00
FRACTIONAL SILVER COIN.
The issue OF fractional silver and the redemp-
tion OF fractional currency have practically
failed. Under the operation of the law of June
9, 1879. providing for the exchange Of fractional
taken out of circulation by the Treasury. A de-
mand for it has, however, sprung up, and under
reduced transportation charges and the inn
proved condition of business il is being reiSsued
from this Office and from the various Sub-treas-
urfes. The nominal amount of the recent coin
age outstanding september 30 was S26, ,101 032.53.
This, however, is increased by a large amount of
the old coinage which has found its way into
circulation since 1876.
The coinage of fractional silver at the mint
ceased in February, 1878. and none has been
coined since. The total amount issued under
the act OF April II, 1876 was s42, ,9I4 931 of which
Sl6s S9s.4l was In the vaults of the Treasury
September 30. 1879.
At the date of the aforementioned act the total
amount of paper fractional currency In circula-
ticn was 41 sos, 737.4s, which has been decreased
as shown by accompanying table, In the sum of
sa5 a9, 1924, leaving the outstanding at SIS no.,
9G4 "a, with an average monthly redemption at
this time OF only $4,000, the total redemption
for the fiscal year amounting to but S705, 15S.67,
MINOR COIN.
Ihe minor coin in the vaults of the various
oTlces amounts to 81 ,54, I00.57 having increased
TO that sum from 1851 900 on September 80, 1916,
$4,000 in 1877, and 81, ,410 S9s.5O in 1875 There
Is. however, demand for f1ve-cent nickel coin,
tod fl,1,
There is also a demand for one-cent bronze
pieces necessitating coinage, metal for which is
furnished by recointng the two-cent bronze
pieces, there being an excess of the latter over
the demand. Under the pressure of the standard
silver dollar coinage the Philadelphia mint has
been unable to supply the demand for one-cent
bronze pieces.
SILVER CERTIFICATES.
The total amount OF silver certificates issued
under the act of February 2s, 1873, to Septem-
Der 80 1879, IS Sls,o32: :ooo-at Washington,
cisco, s11, 100000. There was in circulation,
however, at the latter date of all issues, but
81 44o,l2 They are not legal tender, but are
ernment and are taken by the public only in
lieu of standard silver dollars. The only eXcep-
ton known to this Office is that during the re-
cent scarcity of small notes, $500, ,OOO and per-
haps more: in silver certificates were sent south
from New York for use as currency. Many have
been issued in San Francisco to applicants for
standard silver dollars in exchange for gold coin.
liz tuuS OQtdlutu Utlllg SenU
directly to New York by mail are sold to brokers
at small discount, and the proceeds used as
basis for exchange which is sold in San Francis
co. By far the greater amount of certificates is
used in the purchase of silver bullion for COIN
age purposes, which is paid for in silver dollars.
GOLD CERTIFICATES.
The issue OF gold certificates having been dis
continued by direction of the Secretary Of the
Treasury on December l. 1878, the amount out
standing decreased from 81, ,367, 900 on June 80,
1878, to $15.413, 700 on June 80. 1879 The amount
issued during the fiscal year was S12. .317 400 and
the amount redeemed s41 ,27O, 200. The issue of
these certificates was authorized by the fifth
section of the act of March 8, 1868, az statutes,
lll), but none were issued until November 13,
1865. Since that date certificates have been
issued amounting in the aggregate to $751;
1S4, ,Ss0.46, of which $22 $50, ,4SO.46 were issued
through this Office, and the remainder through
the Office of the assistant treasurer in New York.
The entire amount Of Washington certificates
has been redeemed.
THE TOTAL COINAGE
OF standard silver dollars under the act OF Feb
ruary 2S, 1878, is $45, ,206 200, of which amount
$32, 20S, 1858 is In the mintS and Treasury offices,
and s13,OO2,s42 is in circulation.
PACIFIC RAILROAD COMPANY.
The amount Of bonds held ON account Of the
sinking fund for the Pacific railroad companies
under the act of Congress approved May I, 1878,
is as follows: Union Pacific Railroad Company,
s256, $50; Central Pacific Railroad Company,
$194,90O.
The interest accruing on the bonds is deposit
ed in the Treasury as it falls due as a miScel-
laneOuS receipt on account of the proper fund
and is subsequently withdrawn and applied in
The same manner as the moneys originally with
held from the companies. The first payments
l, 1879, but have been withheld from the United
States with the exception OF s22O $50 IS from the
Central Pacific Railroad Company.
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