, 1880-05-04
VANISHED MONEY.
Dlsappcnraqce of fsl52,O00,oO0 OF Gold
aud Lcgal-Tonders In tho Last SIX.
tccn Months.

tccn Months.
Netv Fork Public, Aprti 20.
Whnt has become OF the money? It Is the
old question, but 1t must be asked, and asked
again, II business Is to get solid footing,
until somebody can answer 1t. Once moro
we hive to call attention to mysterious dis
appearance of naoney. From Jan. to Dec.
l, 1870, us wo showed in the Public OF Dec. 4,
the gold In tho Treasury, nfid In tho banks Of
New York, Philadelphia, and Boston, In
creased less than $1, ,63, ,ts3. although gold
amounting to S77,ooo, 600 had come In from
abroad, and gold amounting to nearly $780,
COZ, 900 had been produced by tho mines. At
the same. time. the reserves of lcgal-tcnders
In tho Treasury, and the banks Of New York.
Philadelphia, and Boston, had decreased
sos, ,1G5 2,l, although the bank k.circnlntion had
also Increased Sl6, ,205 S04, aud the amount Of
bank-notes held by tho Treasury Ind de-
crenscd 81, 5,441,310. Aiding these items
together, we find that about 3l4o, ,1o7,-
Bis III money had been aided
to tho circulating medium not in the four
deposits nnnled,-abont sGS, lG5, ,aa3l In legal
tenders, S52 a00, 600 in gold, and 8s1, III In
bank-notes. 1t Is proper n1ld important to
add, rs We were not III. position to DO III De-
cember, last, that the official returns to tho
Controller OF the Currency prove TINT tic
store Of specie In. tho,banks throughout the
country, other than thosb Of tho three cities
named, did not increase from jan. to Oct.
9, 1870; for the aggregate amount OF speOio
held by all the 2,o5l National banks was 941,-
400, ,757 Jnn. !, and only SSA2 IT, ,73l Oct 9, nj
though the amount II, tho bnnks OF THO three
tteH M had tneanwh!ieslarr!y inereased. Nor No
Treasury Ego into tho, country. banks
For the amdunt Of legul-tenders hold by the
2,Q51 Nati0nnls banks was. $40 COL ,23SS Jan.
and SOC, 1D0, $50 Oct 2; and tho amount OF
ssstSaafi seclsssa fd S5 aeRss1t s}S g Sy s sa a'f9
brief, tho; other National banks had gained
during the:ycar less than the banks Of New
York, Philadelphia, and Boston Ind lost;'
na ear!y 0S s46ooo oo o. III is iesatenda1s @ Ss WlIsh
could noWItere be found Dec. l.
Such was the remarkable experience Of
eleven months last year: and on Jan. We
showed that further loss from tho Visible
gold amounting to 87,os5. .o06 l.ud beon poured
Into this market, by payments from Tho
ports, ai!d the Yield of tho mines Ind boon
chief cities held less gold nt the end than ut
000, Also, about s5 goo In legal-ten.!ers
Ind Mt the. sa,ne time disappeared from tho
effect, about str,, ,:sso0, 600 III gold md about
S73 300, 900 in lUgAl-tentlcrs had disappeared
from these sto5es o1, oo sltrtng tho year ls5o NJ
been attied to tho acttyo circulation.
Slnco Jnn. !. II must now be addod' with
some surprise, the movement has been Of tho
| BnIhe character. It was almost universally
believed that, after the new year began,
money would flow bnck in lnrgo amounts to
tho chief reserves. business calculations OF
! the utmost Importance were based upon this
| belief. Yet the amount OF money which
came back 10 the banks and the Treasury was
very small. md the return soon ceAsed, nntl
was followed by another heavy draln. The
addition OF Bpecl0 to tho reserve OF tho Now
York banks was only IS, 200 900 up To Jan. II,
and after that date the specie reserve began
tu decllne;. and. moreover, tho amount
gained by. the banks WIS lcss by 81 ..5o0, 600,
even during this very period, than the
amount lost by the ul}.Yreasury ut New
York. III specie the banks Of Boston and
Philadelphia gninol nothing. but In legal,
tenders they gnincd about 81, ,40U, 600, and the
bnnks OF tlljs city about 81, zoo O00. while the
| Treasury lost but llttlo. Thus it appears that,
| eycn during tho time ut which the return Of
money to tho principal stores was expected to
hc most libpra!. the Treasury and the banks q
by about 1900, coo, while they galned liz To-
! gal-tendors only about 81, GQ0, 900. From Jan.
| II to Saturday. last q pcrt0u OF fourteen
weeks, tho banks ut tho three cities n1,d tlit
Treasury at New York have changed in re-
serve as follows: