The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1880-12-17

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| STANDARD-SILvER DOLLAR.
In compliance with the provisions of the act
of February q, 1878, during the last fiscal year
u 262, 80 standard ounces of silver bullion,
costing $2,972, 16l8l ian average Of 81 0Sl, Oh
| 4S per month), were purchased. of which a.
OO5, 566.4 ounces were coined into q, 1888, $50
standard-slver dollars. The total coinage Of
standard-silver dollars since the passage of the
act, up to November l. $780, has been $72,SE,-
$50, at which date $47 OS4 $50 were in the Treas
ury. OF the latter amount S19, pa were
represented by outstanding silver certificates,
the amount in actual circulation at that date
being So, ,291.
Since the passage of that act the Depart
ment has issued numerous circulars and
notices to the public, in which it has offered
every lnducement which it could under the
law to facilitate the general distribution and
circulation of these coins. 1t has required
United States disbursing officers to pay them
out in payment for salaries and for other cur
| rent obligations, and it has offered to place
the silver in the hands of the people through
out the United States without expense for
| transportation, when sent by express, and at
an expense for registratiOn-fee only, when
sent by registered mail.
Notwithstanding these efforts, it is found to
be difficult to maintain in circulation more
than thirty-five per cent. of the amount coin
ed. While at special seasons of the year, and
for special purposes, this coin Is in demand,
mainly in the South it returns again to the
Treasury, and its reissue involves an expense
for transportation at an average rate OF one
third of one per cent. each time. Unlike gold
coin or United States notes, it does not, to the
same extent. form part OF the permanent
flowing into the Treasury, easily paid out with
little or no cost Of transportation. The reasons
for this popular discrimination against the
/. 1t is too bulky for large transactions, and
its use is confined mainly to payments for
manual labor and for market purposes or for
change. The amount needed for these pur-
poses Is already in excess of the probable
demand.
2. 1t is known to contain quantity of silver
of less market value than the gold in gold
coin. This fact would not impair the circula-
ton of such limited amount as experience
shows to be convenient for use, but it does
prevent us oeing neia OF ;. n6arded as reserves,
ton until it returns to the Treasury, as the
least valuable and desirable money in use.
For these reasons the Secretary respectfully
but earnestly recommends that the further
compulsory coinage of the silver dollar be sus-
pended, or. as an alternative, that the number
ofgrains Of silver in the dollar be increased SO
as TO make it equal in market value to the gold
dollar, and that its coinage be left 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 average cost of the silver in a standard
dollar, as shown by the purchases for the Gov
eminent from the date of the Resumption act
to this time, measured by the gold standard, is
$CS6, or in ratio of l to 1854. Upon this
e eafo ra sissG dolla 15 in order to be Of
1903 grains. AS the expense Of coming
silver dollar is equal to the value of about
five grains of standard silver bullion, it is con-
40 grains. based upon ratio of one of gold to
about IS of silver, could be safely coined. as
demanded Tor use or expectation, without de-
business. and with great advantage to the
silver-mining interests of our country. Gpon
the facts stated, it would seem to be wise Dol
regulate by law the coin-value of the two
metals so as to conform to the market ratio.
NATIONAL BANKS.
October l. 1880, was s457. 5Sas5o: surplus. sia ~
sl s: 5SS and the total circulation outstanding.
$SaS.s sS.
OF the Union except Mississippi, and in every
territory except Arizona; and the total NM
Der IN operation Is zoos, which il the 9reafeat
nun tnat mas been In operation at any one
The capital stock Of the National Ranks
1s $a1sUC0OO less and the surplus nearly x11s
A0oS lu6u ~ the COfr0SD6ln1iv,op
date in 1875. The loans of the yhH enIs
g on ne en- cate a OF their last returns were
10000. the highest points reached since ~
ORGANIZATION 5 Of the system, the loans BENZ
&c sSss HsS greater ana the individual depoe.
wmie the capital and surplus at the Irevios:s
gate were So,W0.OO in excess Of their presen1
The Individual deposits and the public. nr,.
vate ana bank deposits. not deductinS fhe
amount due from banks and the amo,,1t ~
the ciearing.house exchanges. have incresaed
more tnan $SS2OOO.000. and amount to fha IN.
precedented SUM of 81, 155, OO0ON o un-
80 Inc me, Na ~ Banks hold nearly 4s0o0o0Mn
OF united states bonds. which Win msfnre' IN
or before July next. 's"ho VI
me NationalBankin9 system haa f,l,v~
',n. aa the expectations Of its founders rs
.sa1 a9fnisneo safe currency, Of unifOrM ci,s
carefully guarded ssainaf cn.mt ~.
rs.sng. projected BY ample rescryeG Sna
RsrOmpty redeemed both ct the banks ana ~ $s.s
Ireasury No other legslafion IA resne c e1 ec
.nese important corporations eeome ~ ~ ~
quired at the present session. As " % no