The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1880-12-02
e42, o6s, 451 s47,es1. GIG CSC IA 467
100000 100000
ss42, o6s, 45l ss1e, es1, ole $685., 744. 4s7


The aggregate amount of both kinds of
notes in 1879 was 1851, 115,5 $50, and in 1873
$3.50, 333, 1877. The law provides that after
| specie payments are resumed national banks
shall not be furnished with notes of less de-
! nomination than SIS, and in accordance with
this provision no notes of denominations Of
81 and 50 have been issued since the LIST
day of January, 1879. The amonnt of ones
outstanding that day was 50, 793 ,8l7, and of
! twos S2,924,9 $50; total $7,u8,747. Since
that date the ones have been reduced
$2,5o1,355 and the twos $1,7l767O, mex
ing total reduction OF small
bank notes of $4,2l9,S25. The
| amount of legal tender notes of the denomi-
nation of one dollar outstanding at that date
was $780, 100, and of two dollars. 800
035, 1925; total, $4U,94 .634; and the increase
since that date to November l, 1880, has
been So, 491, 5S4. Thus 1t will be seen that
while small notes of national banks have
been reduced more than four millions ($4,-
219 ,O25) in compliance with the law, since
the date of resumption, the legal tender notes
of the came denomination have been in
creased $3,491 ,564. The total amount of
these denominations of both kinds outstand-
ing November 1, 1880, is 1888, $40 Total
increase during the year, So, 1865, 575. The
decrease during the year previous was 49,
649,451.
OF the entire amount of national bank and
legal tender notes now outstanding nearly Z
per cent consist of one and two dollar nctee,
more than 81 per cent. of ones, twos and
fves, and more than So per cent. is in notes of
less denomination than 500; and 80 per cent.
| is in notes Of lower denomination than
$50. OF the entire issue about 20 per cent.
is in denominations of $50 and upwards.
The amount of circulation of the bank Of
France, January 80, 1879, was $45s, 1874, l66,
showing an increase between that time ard
January, 1929, of $500, 100. The imperial
bank of Germany issues no notes of less
denomination than $3.50, and the
bank of France issues but shout
two millions of dollars in notes of less de-
nomination than $5 The Bank of England
issues no notes less than $25 and the Bank
of Ireland and Scotland not less than $5.
The amount of circulation in the country in
denominations of So and under was $2l4,-
326, 1888, November LIST, 1880. In the foreign
countries named q large amount Of silver
and gold coin of the lower denominations
enter into general circulation. It will
be impossible TO keep in circule-
ton any large amount of small gold
coins or silver dollars unless
the coinage of tho latter is restricted and
small notes withdrawn.
| The total amount of United States bonds
held as security for circulating notes on the
LIST of November, 1880, was 1858, 74s, 959.
On October l, 1865, the total amount of
bonds held for this purpose was $276, $780,
$50, of which $199, 3O7 $50 was in six per
cents and $76,S52,600 in five per cents. q"
| October LIST, 1870. the hanks shod %246, sell
geo six per cents, and $95 ,942,55O five per
cents. Since that time there has been to
November LIST, 1879, decrease of 1886, 211,-
$50 in six per cent. bonds
and an increase Of $57,137, 200 in Eve
per cents. The banks now hold
1886, s9s, $50 four and half per cents, which
have been deposited since Sept. l, 1876, and
$1l9,c75,1OO four per CENTS, which have
been deposited since July l, 1877. During
the year $19, 243, 800 four per cents. have
been Withdrawn, chiefly for the purpose OF
realizing the large premiums on these bonds,
and $22,370, ESQ five per cents. deposited,
which will mature in few months. The
! banks still hold $4,000 six per cent. Eve
twenty bonds, and $4,000 five per cent.
ten-forty bonds, upon which interest has
ceased. They also hold STAG, 552.85O of
fves of 1881. which are redeemable the
LIST of next May, and 49,
046,O0O skies of 1881, payable the dr5t
of January next, and $50,432,15O 6 Der
cents which are redeemable the 1st of July
next. All the and 6 per cent. bonds now
held by national banks, with the exception
of the Pacific. railway bonds, will mature on
or before July /, 1880, and will probably be
replaced by bonds bearing interest at OF
~ per cent, or by new bonds hereafter to
be issued by authority of Congress- bearing a
less rate of interest.
The amount of bonds held by national
banks Nov. 1, 1880, was $4O2, 1868, $50, and
the amount held by other banks and bankers
OF the country in the above table is $685.
O53, 1O4. The total amount held By all
banks and bankers is shown approximately
to be more than one third Of the whole in
terest bearing funded debt of the United
States, as follows: State banks and trust
companies $24.498.604; savings banks $780,
1885; private bankers $14 1850, 684; nation.
al banks $4O3, 1868, 800; total 1864, 422, 454.
The total estimated amount Of coin and
bullion in the county November l, waz
$612,283,357, of which 1851, O12 ,c3O was
gold and $158,27l 1929 silver. The amount
of gold and silver and the per cent. Of each
held by the United States treasury November
l, 1880, was as follows: Standard dollars,
$47,O84, 459; other coin and bullion, $50, ).
672,8 1857; total silver, $77, Isl, 1916; gold coin
and bullion, $140,725,953 total coin and
bullion, $2184S3, 269. Per cent. of silver,
35. g. gold, GA. The amount Of bullion in
the Bank of England in October, 1880, was
/ $141, 637 900, and in the Bank Of France
/ 0ctohar 90 1890 G11c1A0 900 iTrI,a ,.av