The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1880-11-11
MONEY AND TRADE NOTES.

= her cs,Is ., lSi, S6i, 800 469, $780, q
az nor Gems go, 100, 900 $50, goo, OF
nar cents ~ 729,' e., 800 7S9, 37 so
Nav pension fund. n,Ooo,OoO l4,OOO,cOt
Totals s., 723, 1893, 100 81 $50, 69', TOO
Redpction ....,........,..... S33, 20i, 7OC
II will he seen that the reduction in the
intorest. hearing debt has been 1887, l67 les
than the total reduction less cash in the treas.
urv In the amount of per tents above
stated is included the sum of 81 ,3670 900 in
refundips certifast for June 30, and 1913,
200 for October 81. Hence, it appears that
the amount of these certificates CONVEX ed in
10 bonds during the four months has been
only S9S7 800 1t will be seen that the only
reduction that has been made is in bonds at
and s per cent, there having been no de-
crease in the other descriptions Of securities,
except sdch MS has resulted from the CONVEX.
sion of per cent. certificates into 4
per cent. bonds, since the completion
of funding operations more than year
ago. The decrease in 6 per cents. has been
Sl80S0,Sj0, and in . per cents. SIS,
2l3,S50 1t should be observed that in
considering offers of bonds, the secretary of
the treasury accepts those which are more
favorable to the treasury, and in the case of
not much less than half the bonds offered,
the vifers of per cents have been most ia
vorable. 1t should also be stated that while
for the four months the reduction of the
interest, bearing debt was less than the total
reduction, during October the reduction in
interest bearing debt exceeded the total re-
ductlon by nearly three millions, showing
that the secretary drew from the reserve for
9 H., tl, .aut,
statement shows that the reserves in fact near
ly four millions less than it WAS on the LIST of
October. But there is still an available cash
balance of $li5,66S,726 after deducting all
current demands.
A Washington special to the Chicago
Times states that during October, for the first
time since the passage of the silver act of
February %, 1878, the sue of silver dollars
exceeded the monthly coinage. But this APP
pears to be due to the fact that the coinage
for October was $1,l00,000 less than the
average monthly coinage required by law
II Is stated tina. the amount of silver dollars
in the treasury was $50 PIG less on the lst
inst. than il Was on the lst of October; but if
the usual amount had been coined there
would have been an increase of silver in the
treasury to the amount of about $3.50 000
There was, however, an increase OF about
$7,500000 in the silver certificates outstand-
iRg during the month, and as these are prac
tically silver in circulation, the actual in:
crease in silver circulation during,the month
was about 1913 $1,000, OF about four timss
the average amount of the monthly coinage
Hence itappe1rs that some real progress has
been made in utilizing silver us currency.
The Washington dispatch above men
toned also states that during the last four
months the receipts from customs were ST.,
384 600, and from internal revenue Sal,
297 600 against $50 95l 900 from customs,
and $40 100000 from internal revenue for
the corresponding period of 1S79-an in
crease of 81 $4,000 from customs and 81,
093000 from internal revenue, or Sl5, 62G, 900
, in all. The great decrease in the debt has
been que IN part to this increase in revenue
and in part to the reduced interest charge
since the comp elton of refunding operations
Blu. tho Gu toms receipts W, re about $500,
900 less COR last month than for October
1879 while tbe receipts from internal rove
nue. were S9i3000 greater. The net in
crease in revenue was, therefore, S44 1000.
But, as the decrease in the debt for October,
1879, was about $40, $4,000, the small net
increase in revenue last month does not in
dictate that there is likely to he any falling
off during the rest of the year from the rate
of reduction that has thus far been realized.
Mr.. Burchard, the director of the mint,
e:tima.es the whole amount of coin in
the country on the lst of October at
1865, 8Sl.O 0} in gold, and Sl49 799,3S5 in
silver; total $5l9 6S033S. In addition to
this, he e Inmates the amount of uncoined
bullion at SIS, O4O,j40 in gold, and So 557,-
759 in silver. The whole amount of legal
tender notes, according to the October debt
statement, is SS46,7ll, S4l. The whole
amount of bank notes on the lst of October
was reported at $343, 9050O0 Fractional
notes at present, S11Sl, SGl. Now 10 bring
these items together:
Coin in the country ,,.............. IS 9,GsO,$fs
Bullion ........................... 73,59S, 20E