The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1880-12-02

Totals. ss42oes.45, ssse,ss1 1,ols sss<744, ,.s7

Chicago fire .......... 1000, 900 100000
Totsls.... Ss42ces.45, $685. ,ole ses.744, ,4s7
The aggregate amount of both kinds of
notes in 1879 Was $6sl,ll5 500. and in 1873
1855 333, 1877. The Law provides that after
specie psyment0 are resumed national banks
shall not be furnished with notes of less de.
nomination than So. aud IN accordance with
this provision no notes Of determinations of
81 and SO have heen issued .inoe the lst
day Of January, 1879. The amount of ones
outstanding that day was $4 793, ,8l7, and IF
tvos $2924 $50; total S7,7ls,747. Since
that date the ones have been reduced
So. sol 1856 and the twos $l,7l7,C7O, max
ing to:al reduction Of small
bank notes of $4,2l9,925. The
amount of legal tender notes of the denomi-
nation Of one dollar outstanding at that date
was $50. .257 ,lO9. ard Of two dollars, S2O,-
O35, ,525; total, $4U942 634; and the increase
since that date to N-vember /, 1880, has
been 50 491 584. THUS 1t will be seen that
while email notes Of national banks have
b* en- reduced more than four millions ($4,-
2l9,025> in compliance with the law, slnoe
the date of resumption, the legal tender notes
OF the same denomination have been in
creased $3.491,58i. The total amount of
ing November l, 1880, is $+7.283 $40. Total
increase during the year, 1885,, ,576. The
decrease during the year previous was 3d.
649,451.
OF the entire amount of ustionsl bank and
legal tender notes now outstanding nearly z
per cent. cous!st of oIe and two dollar nCtes,
more than 81 per cent. of ores, twos aid
fves, and more than So per cent. is in notes Of
less denomination than $40; and 80 per cent.
is in notes Of lower denomination than
$50. or 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, vas $458, ,l94, ,166,
showing an increase between that time and
January, 1929, of $6,100,709. The imperial
denomination than $50. and he tbe
bank of France issues but about
two millions of dollars in notes of less de-
nou inaticn than SIS. The Bank of England
issues no notes less than $25 and the Bank
Of Ireland and Scotland not less than SIS
The amount of circulation in the country in
denominations of SIS aud under was $2l4.-
1888, November LIST, 1880. In the foreign
countries named = large amount of silver
and gold coin OF the lower denominations
enter into general circulation. 1t will
DO impossible to keep in circu!a
ton any large amount of email gold
coins or silver dollars unles-
the coinage of the latter ts restricted and
small notes withdrawn.
The total amount of Uaited States bonds
held "a security for circulating notes on the
1st of November. 1880, WAS 1858, ,748, ,959
On October l, 1865, the total amount of
bonds held for this purpose vac $276,25O,-
$50, Of which $l99 3O7, $50 vas In six per
cents end SIG. 852 600 in five per cents. On
Octob+r lat, 1870, the hanks he'd $246,e9l,
3Ot' six per cents, and sos 81, $50 five per
cents. since that time there has been to
November lst, 1879, . decrease of $1852l
$50 in Six per cent. bonds
aud an increase Of e57.137, 200 in fiv+
per cents. The banks now hold
336 988,950 four and half per cents.. @hich
Dave bern deposited since Sept. l, 1876, and
$ll9,070, 100 four per CENTS, which have
been dep. 's'ted since July !, 1877. During
the year $l9. 243, 800 four per cents. have
been withdrawn. Chi. fly for the purpose of
realizing the large premiums On these bonds,
and $22,37O, $50 five per cents. deposited,
~h'ch will mature in few months. The
banks still hold $1,000 aix per cent. Ave-
twenty bonds, and S526.9OO five per cent.
ten forty bonds, upon which interest has
ceased. They also hold $14G,552850 of
fives OF 1881, which are redeemable the
lat of next May, and $2,-
O46, 600 skies OF 1881, PAYABLE the first
Of January next, and $5O,432,15O 6 per
cents which are redeemable the lat of July
next. All the and per ctns. bonds nov
held by national banks, with the exception
of the Pacific railway bonds. will m ature on
or before July !, 1880, and will probably be
replaced by bonds bearing interest 1T 4 or
~ per cent, or by new bonds hereafter to
be issued by authority Of Congress bearing =
less rate of interest.
The amount of bonds held by national
baDks Nov. 1, 1880, wss $402, ,3b9, $50. and
the amount held by other banks and bankers
| of tho country In the above table is $685.
053, 1O4. The total amount held by oil
banks and bankers 10 shown approximately
to be more than one-thtrd Of tho whole in
tereat beariDg funded debt of the United
States, ~ follows: State banks and trust
companies $24 498 CO4; savings banks e189,
187,816; private bankers 914, ,36G 68l; nation
al banks S403 .369. 300; total e634, ,422,454
The total estimated amount Of coin and
bullion In tho county November l, was
S612, ,2S3, 1857, of which $454Ol2, ,O8O was
gold aud $l6s, ,271 1923 silver. The amount
of gold and silver and the per cent. of each
held by the United States treasury November
l, 1880, vas as follows: Standard dollars,
$47.O84, ,459; other coin and bullion, $780,
| 672, 1857; total silver, $77,757, ,316; gold coin
| and bullion, $40, 1853; total coin and
bullion, $218, 1882 Per cont. of silver,
IS. 6: gold, Ga 4. The amount Of bullion In
the Bank OF Eogland In October, 1880, vas
$l4l ,637 600, and in the Bank Of France
October 20, 1880, SIG, 100000. The per-
centaQe gold held was 317, and silver 68 3.
The statistics show rapid reduction dur
| ing tho last two years In the amount of out
! standing circulation of banks which have
ceased to do business and indicate that the
final ,ss upon notes of national banks will
not exceed one or ono and q half per cent.
The increase In net deposits of national
banks during the year WAS $187, 1885,. .O75;
| Of savings banks 1891, sos. .295; Of private
| bankers $42.245684; and of Stste banks and
trust companies $6l. 7l3. .76l; making total
increase in the bank deposits Of the country
| Of 1926 356 916.
The tot.l number Of national Sanks, State
banks, savinRs banks, private banks. etc., in
| The country in June, 1880, va. 6.5s2. With =
total banking capital of $3.50 O49 800, and
| q total of deposits of S2.2l9,S33. 29O.
Tho comptroller recommends that tho Law
| nov in force be 90 amended that national
bank circulation shall be redeemed upon q
pescentane Of notes vurstaoding; that banks