Western sentinel. [volume] (Winston [i.e. Winston-Salem], N.C.) 1856-1886, 1880-12-16
U. S. silver coin. .142, $4,000

L
The Secretary discusses the stand.
AID silver dollar at length, and
shows that lie has no friend to that
coin. Unlike tho gold coin or Uni
ted States notes, he Gays, it does
not, to the same extent, form a part
of the permanent circulation, every>
where acceptable, and, when flow
ing into the Treasury, easily, paid
ont with little or no cost Of traps.
poltation. The reasons for this
Fo"ular determination against the
silver dollar are:
ist. 1t is too bulky for large
transactions, and its use is confined
mainly TO payments for manual
labor and for market purposes or
tor change. The amount needed
tor these purposes is already in cx-
cess of the probable demand.
%. 1t is known to contain
quantity OF silver of less market
value than the gold in gold coin.
Tins fact would not impair the cir
culation of such limited amount as
experience shows to be convenient
tor use, but it docs prevent lis
being held or boarded as reserves,
or exported, and pushes it into ac--
tive circulation, until it returns 70
the Treasury, as the least valuable
and desirable money in use.
For these reasons the Secretary
earnestly recommends that the
further compulsory coinage of tho
silver dollar tie suspended, or, as
an alternative, that the humber of
grains of silver in the dollar be in
creased so as to make it equal III
inalk ket value to the gold dollar.
and that its coinage be lett as other
coinage to the Secretary of the
Treasury or the Director of the
Mint, to depend upon the demand
for it by the public for convenient
circulation.
The Secretary next discusses the
national banks.
The capital stock of the ma ticnal
banks ON October l, 1850, WAS
Sf57, 7,553,S5; surplus, $12O,51S,-
5S3 and the total circulation out
stan h1;Ig, S343. 949, 1898.
National banks are organized in
every State of the Union except
Mississippi, and in every territory
except Arizona, and the total num-
her III operation is 2,095, which is
the greatest number that has been
III operation at any one time.
The capital stock of the national
banks is SIT, 100000 less and the
surplus nearly $s4,OCO,OOO less
than at the corresponding date in
1875. The loans of the banks AZ
the date of their last returns were
S ,037, 100000 and the md d.vidnal
deposits SS73,0OO,OOO, the highest
points reached since the orgahiza-
ton of the system, the Goans being
S201, 100000 grcntcr and the indi-
vdn:.l deposits So53 3,OsG, 900 great
er than than in October, 1878,
while the capital and surplus at the
previous date were S., 100000 in
excess OF their present amounts.
The individual deposits and tho
public, private, and bank deposits
not deduciing the amount due from
banks and the amount of the clear
ing-house exchanges, have in
creased more than 1922, ,000,C 100,
and amount to the unprecedented
sum OF S153, 100000.
The receipts from tobacco are
reported at S3s,S7O, 14O,OS and
from spirits at S61,1S5 ,50S.79.
One very gratifying feature of
the report is that which shows that
the excess OF exports over imports
during the year was S1G7 ,6S3, ,912-
the former being $3.50, ,63S, ,658, and
the latter S6e7, ,954, l46. As long
as II balance such as that is kept on
the right side there ought to be
easy times.
A number of other topics are
discussed, but we have noticed those
of most interest.