Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1880-12-08
Totals .ss42 O6s, ,451 ss4s, ,o16 ssss7A, ,4s7
The aggregate amount of both kind of notes
in 1879 WAS $68l, liz, $50, and in 1873, $685.

4uc ASSlcSdUc d11lOuuC VI DOGu h11lu VI uOloS
in 1879 WAS s6Sl; 1850, and in 1878, $685.
333,137.
The law provides that after specie payments
are resumed national banks shall not be fur
nished with notes Of a less denomination than
SIS, and in accordance with this provision no
notes note of the denomination Of one and two dol
lars have been issued since the first day of JAN
uary. 1879. The amount of ones outstanding
that day was 81 793, 817, aud of twos 49, 924 $50;
total, 81, 7,718, TAI. Since that date the ones have
been reduced $2501, 1856, and twos 81, ,717,670,
making the total reduction of small bank notes
$4,219.925. The amount of legal tender notes
of the denomination of 81 outstanding at that
date was 2o,257, 100, and of So S20,035, 525;
total $40, 942, ,G34. The increase since that date
to November l, 1880, hasbeen So, 491, 584. Thus
it will be seen that while the small notes Of ma
tional banks have been reduced more than four
millions ($4,219,025) in compliance with
law, since the date of resumption,
same denominations have been increased 49,
49,, ,584. The total amount of these denomi-
nations of both kinds outstanding November l,
$780, is 47 $685. $40; total increase during the year
1896, SIS. The decrease during the year pre-
vious was So, ,451. Of the entire amount of
national bank aud legal tender notes now out
standing nearly per cent. consists of one and
twos and fves; more than So per cent. is in notes
of a 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, 194, ,166,
showing IN increase between that time and
January 20, 1880, of S6, ,100.707. The Imperial
Bank Of Germany issues no notes Of a less de-
nomination than $3.50, and the Bank of France
issues but about two million dollars in notes of
q less denomination than IS. The Bank of
England issues no notes less than s325, and the
Banks of Ireland and Scotland none less than
in denomination Of SIS and under was S214, 1885,
S39 in November I, 1880. In the foreign coun-
tries named large amounts Of silver and gold
coin Of lower denominations enter into general
! circulation. 1t will be impossible to keep in
circulation any large amount Of small gold coins
or silver dollars. unless the coinage of the latter
is restricted and the small notes withdrawn.
The total amount Of United States bonds
held as s.ecurity for circulating notes
So ss5s, W u.s. ,e5e. On On October /, 1855, 1885, total I
amount OF bonds held for this purpose was
S276, ,25o, $50, of which S199, ,397, $50 was in
October 1. 1870, the banks held ;246, ,s91, 300 in
6 per cents. and $95. 90, $50 in S per cents.
Since that time there has been to November /,
1879, decrease Of $185, ,211 $50 in 6 per cent,
bonds, an increase of S51, 137, 200 in per
cents. The banks now hold S?35, 9SS, $50 in Is
per cents, which have been deposited since Sep
tember l. 1876, and S119, ,075, 100 in 4per cents,
which have been deposited since July l, 1877.
During theyear, S19, 243, 800 ind per cents. have
| been withdrawn. chiefly for the purpose of
realizing the large premiums on these bonds,
and 1922, $40, 750 in per cents deposited, which
will mature in q few months. The banks still
hold SIS, 600 in per cent $40 bonds, and 1926,
900 in per cent. 1910 bonds, upon which III
terest has ceased. They also hold $146, So, $50
of IS Of 1881, which are redeemable the LIST of
next May, and s2,o56,co0 of 6s Of 1881, payable
the 1st Of January next, and $50, ,432, $50 Of 6s
1881, which are redeemable the 1st of July
next All the 5 and per cent. bonds now held
! by national banks. with the exception of Pacific
railway bonds, will mature on or before July /,
| 1881, and will probably be replaced by bonds
bearing interest at 4 or ~ per cent.
or by new bonds, hereafter to be issued by au-
| thority of congress, bearing less rate Of in
terest. The amount of bonds held by national
| banks November 5, 1880, is $4O3, 1863, $50, and
the amount held by other banks and bankers OF
the country in the above table is S228, 1858, 104
The total amount held by all banks and bankers
is shown approximately to be more than one
third of the whole interest-bearing funded debt
j of the United States, as follows:
State banks and trust companies. $ "a, ,498, 60!
Savings banks. ............... 189, 1877, ,81t
Private bankers ............. 14,366, ,684
National banks. Observation-Disclosures. 403, 1863. .35l