The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-12-02
FINANCIAL.

THg Director of the Mint recommends the
cessation of the coinage of the standard
silver dollar until other nations conclude to
unite with the United States upon an in
ternatiOnal ratio of coinage The Director
proceeds TO argue that such an international
agreement might render it necessary to re-
coin the standard dollar, and adds; "ln
such case further coinage OF silver dol
lars Of the present weight unless needed lor
circulation is needless expenditure" IN
referring to the above the Courier-Journal
says this curious statement is to be
understood properly only when we
consider that the Government is
clearing profit of fifteen to twenty per
cent. on all silver coinage. The average
profit is about fifteen cents on every stand
ard dollar and more on the small coins.
Therefore the Directors basis OF argument
Is an absurdity. lie also shows in hisreport
that ont of 1000O0000 silver dollars coined
900 are in circulation and 5S,OOO,OO
held against certificates in circulation. The
gold and silver received and operated upon
by all minis and assay Offices has exceeded
by more than $4,000, 900 the receipts of any
previous year, amounting in round num-
bers to S23G 100000, of which $l93, 600, 900
was gold and $33, 100000 silver. This large
increase Director Burchard says was due to
the continued influx OF gold from abroad,
over sos 100000 deposited being from that
source alone. The coinage facilities of the
minis have been tested to the fullest extent
in converting this'bullion into coin.
THE volume of currency of all kinds now
atoat in this country is estimated at S922,-
5O0,0O0-an increase of about 80 per cent.
during the last three years. Deducting
from total increase $lO0,0o0,00O that is be.
lieved to be boarded, and it is found that
there is an almost exact correspondence be-
rate of currency imitation. Whether the
rate of increa'e in average prices has been
determined to any great extent, by the in
flation or not, the fact that they have gone
on simultaneously and in nearly the same
ratio is certainly suggestive of very init
mate relations existing between the two.
THE annual report of o. III. Irish, chief oil
the Bureau of Engraving and Printing in the
Treasury department, states thatduring the
year ended June 30, 1881, there were COM
pleted and delivered 7,17i,76l sheets OF
notes and securities, of the face value OF
$l,45S, 708,970; S170,603 sheets of internal
revenue and customs stamps, containing
6Si 1866 stamps and 6S2,339 sheets OF
checks, drafts, etc. besides q large amount
Va hiio'Siaiioous WoIh' nc dRSreSatc OK
penses for the year were 1901 ,l65.
The Census Bureau places the net local
Indebtedness of the United States. less the
sinking funds in 1880. ut 81 1854 ,SGi 1862.
A decree has been issued in Russia author
izing the issue of6O0O,000 rubles of silver
money.
The Imperial Bank of Germany has re-
duced its rate of discount to five per cent.
and the interest on advances to six per
cent.
Comptroller Knox closed lecture on
banking in Baltimore by saying that the
national system need not be dissolved on
account of the reduction of the public debt,
but could remain legally in existence with
but small issue of circulation, and with
less than 100000 of United States bonds
on deposit.