The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-12-01
FINANCIAL.

I%N ~A%N N-A-A-As
MANY persons do not understand why the
weekly reports from the Treasury Depart
ment state that the circulation of the Ma
tional banks exceed by many ..miliOns ofdol-
lars the 10 per cent. of the bonds deposited.
The mat er was re,ered to the Treasury De
partment by the Philadelphia Times for an
explanation. The Deputy Comptroller OF
the Currency answered by stating that on
October. list, which is the latest date on
which report was received from national
banks in operation, these banks held bonds
on deposit to secure circulation amounting
TO $685., S35 500. On the bonds they would
be entitled to receive 80 per cent, or
SUI ,OOl 800. The fact was that
on that date there had been issued to
them by the Comptroller of the Currency
S325, 012, 800 only, or about two millions Of
dollars less than the security would, under
the law, permit these banks to receive. On
October |, however, the total outstanding
national bank note circulation was $751;.
770,490. Deducting the circulation of going
banks before given, at 1925, 072, 800, there is
left $32,69S, 100 of circulating notes of failed
and liquidating banks and banks reducing
their circulation, under act OF June 20, 1874.
OF this last amount of circulation, the re-
demption of S3l ,S3G02i had been assumed
deposit oflegal tenders by the banks, under
various provisions of law, and the remain
der, 1851 JIG, were secured by bonds held
by the Treasurer of the United States, in
trust for failed and liquidating banks,
which had not yet deposited legal tender
notes to secure their circulation. The bonds
last mentioned are not included in the
bonds reported by the banks in operation
above mentioned. These figures show the
discrepancy on October |, and the reason
for it. The same discrepancy, as you sug-
gest, exists at any date and the explanation
is at any date the same.
The Director of the United States Mint
estimates the worlds production ofgod for
the calendar year of 1881 at $107 00O, 900, and
OF silver at ,$S7 100000. The consumption
OF the world in ornamentation, manufac-
turers and arts, for the same period, is es-
timated at $4,000, 900 gold, and $4,000, 900
OF silver. The estimated circulation of the
principal countries ofthe world is placed at
1921 100000; full legal tenders, silver, 80
ll5,OOO,0O0; limited tender, silver, $4,000
0oo; total specie, $5,750,Ooo,0O0; paper, 49,
100000,
The annual product of gold and silver in
the world varies from 500, 10000 to $780,
GOO 1000; in 1868 the total was S2S5, 100000 in
1868 S27l 100000 with decline from
that time until 1877 when the tide turned.
The product last year was $l1S,000,000 in
gold and S9i 100000. Nearly one-half of
the gold and about three-fourths of the
silver was mined on the continent of
America.
A million OF dollars in our gold coin
weigh 3,6S5.T pounds avoirdupois and A
million standard dollars in our silver coin
weigh .5S,02S.57 pounds.
One hundred thousand dollars have been
spent in gold mining in Oglethrope county
Georgia, without the investors realizing
anything in return.
The valuation of California, real and per.
sonal is this year 1868 69l ,059, and taxation
IS at the rate of 65l cents ON the 81 900, pro-
ducing n, IA ,l26.
The real and personal property in the
United States is valued at 1000 O0O, 900.
The five National banks of Denver, with
capital of $4,000 hold 81, 49,, 81 of de-
posits.
The pension roll for December demand ST.
100000.
DALLAS EXCHANGE AND COIN.
seT Eo yS.t Exchange D"S'%S F Fsi1s
eS LOUIS ''''....,,......,.,.,...
y
kNcN pllchllS.
Galveston and Houston ,,,,,,,h
discount
Sterling sight 81 IS.
Francs 5@p5 10
Marks %.
Gold, silver, other than trade dollars, par
Mexican dollars so
Mexican halves. ...,,,,,...,.,,.,.:.4 40
Mexican quarters ...........,.,.,.... Is