American citizen. [volume] (Canton, Miss.) 1864-1890, 1880-12-18

1OtH Sl6obo, IL
Coinage of silver. S9II3,OO
Excess Of imports over exports of
United States silver coin ~. So, 52
Total $9,6SO, 81
There was in the mints and assay Offices Oh
the LIST of November bullion held for coinag
amounting to s7s,55s,sil55 of gold, and So
G43, s67.37 of silver, making the total coin cir
culation and bullion available for coinage il
the country of:
Solu. ti55 - 6s
ohVer-... ACKNOWLEDGEMENTS l5S, S-Usl
Total. Observation-Disclosures 6l2, 20, 60
sTANDARD-SILvER DOLLAR.
In compliance with the provisions of the ac
of February Is, 1878, during the last fiscal yea,
p, 262, ST. 3S 81 andard ounces of silver bullion
costing $24 972 ISL 81 ian average of s. 05l 0l3
4S per month";, were purchased. Of which "a,
O05 566.4 ounces were coined into 1881, 75(
standard-slver dollars. The total coinage OF
standard-silver dollars since the passage of the
act, up to November l, $780, has been ST., s47
$50, ut which date S47 0S4, $50 were in the Treas
ury. OF the latter amount $l9,78O241 were
represented by outstanding silver certificates
the amount in actual circulation ut that date
being $25, rs, 229I.
Since the passage of that act the Depart
ment has issued numerous circulars and
notices to the public in which 1t 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
nm expense for rcgstration-fee only, when
sent by registered mail.
Notwithstanding these efforts, 1t Is found ia
be difficult to maintain in circulation more
than thirty-fivc per cent. of tho amount coin
ed While at special seasons of the year, and
for special purposes, this coin is in demand,
mainly in the South. 1t 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 a part of the permanent
circulation, everywhere acceptable, and, when
flowing into the Treasury, easily paid out with
little or no cost Of transportation. The reasons
for this popular discrimination against tho
silver dollar are:
!. 1t is too bulky for large transactions and
its use is confined mainly to payments for
manual labor and for market purposes or for
cdange. The amount needed for these pur-
poses is already in excess of the probable
demand.
Z. 1t Is KIN own to contain a quantity of silver
In srOI n
COIN Thfs fact wo.id not impair the circula-
ton of such limited amount a. ernerienc.
shows to be convenien for mao but n doc.
prevent its being held or to,rIo1 .s ros.r,,,s
or exported, and pushes it INTO active circuIa
tiop until IL return. ~ tho ,
aAast valuable and desirable mon.y in use.
For s>-sc reasoss tho s.ecretarv s,,..,....s.,u.
but earnestly 7ecommcnds thar tba ynfthar
compulsory coinsge of the silver dollar he s,;s-
pended, or, as an alternative, that tho number
OF grains OF silver In tho dollar be increased 80
as to make 1t eq,Ia in mari ct value to the gold
dollar, and that its coinage be left as other
coinage to the Seoetary of the Treasury or
the Director of theiint, to depend upon the
demand for it by he public for convenient
circulation
The average cost tho siIvor in n s..ns,
dollar. as shown by ne nurchases for Tho 60.
eminent from the d q of tbe Resumn,io,, ~.
to this time, measus d by the uoId stapdar,, "a
SO. 800, or In a ratio,f / to 11e4 ITnon this
ratio a silver doll. in order To he of |
equal value to a ga dollar. should contain !
455 grains As h expense Of coining
a silver dollar is coil to the vaIue of about
five grains of standa silver b,,,iop n 4. oo,
1dently believed that silver dollar containing
40 grains, based upda ratio of one of gold to
about I.5 of silver Aald be safely coined a.
demandod> for use otxportation wi,hout a.
monetizinx gold oAisturbing contract. ~
business. and withrreat adyantape to the
silyer-mining in. res of our country. Unm
the facts stated it Wild seem TO be wise mol
icy now in the spfiof the Constitution tn
regulate by law thcoin-vaIue of the two
metals so as TO conrn to the market ratio.
NArIcL BANKS.
The capital stock tho National Banks on
October l, $780, was ,553 $50; surplus. SIN.
51s,5 s3; and the tots circulation outstanding.
&343, 949, Sg3. II
National Banks fe 1ganized in everv State
of the Union excot Mississippi, and in every
Territory except ArzsA; and the total num-
Der in operation 20 which Is s-1asusy
number that has teoan operation at any one
time.
The capital foclof the National Banks
Is 81, 100000 less tne surplus nearly $14,-
100000 less tnan"t INC corresponding
date In lS'o. loans OF the banks
at the cato on r iast returns were l
$l.0oaUoo'ooo' anu .taui'iouai deposits $o1d,- s
0OO,OoO the nisnceth.S reacueo since the I
organization Vi ny s,en, Ine loans being =
83I,OOO,UV greater the INDIVIDUAL depos- /
Its S@o3'oJo,Voo grea IMAM IN OCTOBER, 1873, | !
wniie tue cap.Sni asui p'uS at tne previous
da'e mere s''''''''>le u 'neir present
amounts. Q
Inc inulViuuAi usieS anu inc puoHc, prf- T.
VA.e az a.. TO-, n ~ .se 'ne :
the clearins-house have increased :
more than s3ss, oOa and amount to the un- 4
precedented sum (,I55,oOo,OOO. q
The National Ba hold nearly $780, OK. 900 !
of United States 2, which will mature on '.
or before July nes 81
Inc whole amoef United States bonds :.
ne by 'au ror us sGeur, ,6y lor cir
and the average ant Of canita, tn~nstsI I SS
the state banks, ngs- banks, and private
bankers for the sisnths ending Nav 81. 1850
as shown by the RS to this Department for r.
purposes of taxaiis $22s .O53, IOi, making n
total of 1851. 4e.2, ~ ~ =.