Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-12-07

number OF grains of silver in the IdolIar be in
creased 30 as to make IL equal in market yalue
to the gold dollar, and that its COINAGE he LEFT
as otner coinage to the secretary of the treas-
ury or the director of the mint, to denend rro.,
the demand tor it By the public for couycnient
circulation.
As to tho fractional eiIyer coina,e the .ooro-
tary says: 1t would seem wise that the excess
not needed for change should be coined info
standard dollars, and that any further fran
tional coin, hereafter needed, should eontsin
silver OF approximate relative value 10 tbs
standard coin.
NATIONAL BANKS
The capital stock OF the national bapka nm
October l, 1880, was s457, $50, 500; surplus
$l20, 5lS. 1888; and the total circulation mt
standing $343. 949863.
National banks are organized In every State
of the Union except Mississippi, and in ever
territory except Arizona; and the total num-
Der in operation is 2, 095 which is the creates.
number that has been in operation at anv
one time. '
me capital stock of the national banks ia
PA, OUo, 0OO less and the surplus nearly Sl4.
OOO0OO less than at the corresponding date in
1910. The loans of the banks at the date of
their last returns were g, O37, 600 600 and the
individual deposits 1878 600 COO. the hiobest
points reached since the organization of the
system, the loans being S2O7 600 600 greater
and the individual deposits S253. O0O. eco Greet
er than In October. 1878, while the capital and
surplus at the previous date were IS, 600. 600 in
excess of their present amountg
The tables given by the comptroller shog
that during the past two years the loans Of the
banks In the city of New York have been ex-
tended to much greater degree proportion
ably than the loans in other parts of the conn
try, and that the cash reserves Of tie banks in
New York have been unprece dentedIv low
enOTmnHa 0ff nd. =
deposits during the last year should
not be accompanied With proportional
increase of loans, since such increase wouId n
ls believed, have the effect, indirectly. of in
creaslng the market prices of many railroad
and other stocks and bonds Iargelv bovond
their actual value. The banks in New YnrE
Olty hold more than 800, 900, 900 of the funds
or other banks, which are payable on demand
and 1t Is of the greatest importance that they
should at all times exhibit great strength Il
they would keep themselves in condition for an
ADVERSE balance of trade and for the Ieeiti
mate demands or those dealers who confde in
them. 81
THE TARIFF
The present tariff is but compilation of
laws passed during many succeeding years
and to meet the necessities Of the government
from time to time. The general priucir,le
upon which they are founded ia believed To be
wise and salutary. No marked or 5udden
change, which would tend to destroy or iniure
domestic industries built upon faith in the
stability OF existing laws, should be made in
them. Changes, however, have Occur
red in the value Of some ar
tIcles, caused mainly by important
Inventions and improvements in the mode of
manufacture. These have produced irregular.
tiles and incOngruities in the rates of taxation.
SO that on some articles the duties have be
come prohibitorv, while en- others the rate
TAXATION t1-- IL
al Valerem might, with the experience ao-
CURED under existing laws be converted into
specific duties. Many articles which do not
compete with domestic industry, AID Weld but
q snaiI amount OF revenue, might be added 20
the free list.
EXPORTS AND IMPORTS.
The importa of merchandise fog the past year
exceeded such imports during any previous
year in the history of the country. The lead
ing articles, showing marked increase In quar-
tity or yalue imported, are coffee, hides and
skins, raw silk, and tea. ali of which ara free
of duty, and copper, manufactures of cotton
silk. and wool. fruits glass, iron and steel
lead, leather, precious stones leaf tobaoco
wool, and zinc. The imports of unnanufac-
tured wool increased from $4,000, G9O pounds
IN 1879 to over 12S,000,000 pounds in 1890.
The value of the imports Of railroad-bars Of
iron and steel increased from so, OH in 1879
to 81, 952, 266 in 1850,
OCEAN CARRYING TRADE.
The disproportion between the conmod;iies
carried IN American and those carried in sor-
eign vessels still continues, and ia even greater
than during the fiscal year 1879, the amount of
merchandise transported in our vessels durinr
the fiscal year 1890, estimated on 6 basis OF
value, being i've per cent. less than that trans.
ported during the former year. Tue foreign
carrying trade in American bottoms is more
than hfty per cent. less than 1t has been, or
than 1t might be, and if it is desirable
to save the country the annual
freightage on merchandise Of the value
of twelve hundred milIiona of dollars, the only
course to reach that ref nit would seem to be
o1ncrease our registered shipping.
Doubtless the number OF vessels Of hCLne-buiId
will be adequate in time to take up the freisht-
age lost to American bottoms in consequence
of the war of the rebellion. 1t present, how
ever, the demand for vessels to carry on cur
immense import and export trade does not
seemito so stimulate the ship building industry
as to prevent an annual decrease in the number
OF ships built. The present facilities for
frelghting In foreign vessels appear to be great
er encouragement to that industry than would
be the privilege of purchasing such vessels.
The bulk Of the report, other than above
given, Is alrepetition of the heads CT divisiors
and services under the secretary of the treas
urY. abstracts of which have been published
during the past two weeks.