The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-01-04
FINANCIAL.

FINANCIAL.
FoR the enlightenment of certain persons
who still cling to the delusion that the cur
rency of the country has been contracted TO
the extent of thousand millions or so
since 1865. the Cincinnati Commercial pub
fishes some figures furnished by Comp
troller Knox. The table shows the amount
of coin and various forms of paper cur
rency in the country at different dates. IN
1865 and 1865, the estimate OF coin being
that of the Director of the Mint, and the
estimates of State bank circulation beihS
those of the Commissioner Of Internal
Revenue and the Secretary Of the Treasury.
The figures are as follows:
Coin .,2sa'sOo.sO 600 nI 600
ro.,,.,.Dao, note. q. AG ss:ss 81 ssss,
Fractional currency ..,. 2&3iLn2 g. W i2O
National bank circllatn l76, 2l3 $50 2Ss5sS ll9
Oct l. Oct 81, 1865:
stat. bank circulation 7sSGlS75 65,OOO,Ooo
Total .sosa, $50 14s 81, O63, SaO, Sas
The COMPTROLLER also gives statement
of the amount of one and two year notes
June 80, 1865 and 1866, the totals being
S2s6, 0ol 100 at the former and Sl62, itb37O
at the latter date But theamount OF these
notes has nothing to do with the question,
since they bore interest ut the rates OF
8 and O per cent, and therefore did not CIR
culate any more than the 81 per cents, or
other Understanding securities oil the
United States, do ut the present time. IL
should also be borne in mind that the specie
estimated to have been in the country IN
1865 and 1866 did not enter into
general circulation except on the Pacitc
slope, and elsewhere was only used,
in payment of duties on imports and
interest on the national debt. 1t was
in fact. a tax upon the remaining currency
since il was bought and. sold as merchan-
disc in the New York Gold-room and else
where. Possibly as much as SiS0OO,OOO
may have been in actual circulation IN the
Pacific States'and Territories, and no more
than that amount should be reckoned as
part of the active circulation in that year.
The actual circulation in that year, when
there was more paper ailoat than in any
other year before the alleged contraction,
may, therefore, be stated as follows:
Coin Observation-Disclosures. ~, Owe oOO
Fractional currency ................-.. 800 0i20
Lcgal.tendcr notes ............,..,. i26 81 $50
National Bank notes .,,., ...,........ 29o,0SS ilo
State Bank notes ,,..,..... ........., GJ,OJitUl
--------------
Total observation-disclosures. $50, $40 S2S
The figures for 1870 and 1851, rs given by
the Director of the Mint and Comptroller OF
the Currency. are as follows:
Nov /, 1851 Nov. /. 1881.
Legal-tandcr notes $ siG sSL0lG 5 3iedSL0lG
National bank notes.. N3,slil ! a6l,'Oro
Gold ..,.......,...., i5t, lO2,'SO j63,Wr,t0O
Silver. .,..,........ l0S,27lS25 is0'O0OO
Total. ,3O2, 70S $50 ST. i56, GSl. DIG
Frsm this it appears that the active cir
oulation is more than 7G per cent. greater
than it was in the year when, according
TO the inhationists, the country was pros
porous because Of the abundance of
'money" 1t should be borne in mind
that the specie now circulates, oil the cur
rency being at par with gold, whereas
in 1886 that which constituted practically
all the currency Of tho country was not
worth more than 20 per cent. of its lacv
' in gold, and therefore crowded the latter
ont of use. Making allowance for the de-
probation in 1866, we find that the circula-
ton is actually 100 per cent. greater now
than 1t was then.
MAYOR HOWELL, in his last message to
Inc Brooklyn Common Council, reviews his
four years administration. The expenses
in 1876 were $i135, lil.98, and in 1881 49,
ga, 20Os5, while the population has in
creased in the pastlour years over. seventy
thousand, the tax levies have fallen from
$7,27S, 100 in 1877 to 81, l06,573 in 1881. He
congratulates the city on its prosperous con-
dition.
The revenues to.the State of Connecticut,
for the year ending October 81, 1881, from
licenses for the sale of liquors and beer
amounted to 500, 275
Iowa has ninety-nine counties, and of
this number fifty-two have No bonded debt,
seventy no floating debt, and forty-one do
not owe dollar.
The largest single deposit probably ever
made in any bank in Kansas City was made
the other day, the amount being sos ,iS9
Georgia had four gold mills in 1873 and
produced that year $4,000. In 1881 she
had seventy-three mills at work, and will
approximate $l,0OO,O00 production.
DALLAS EXCHANGE AND COIN.
Buying, Selling
New York Exchange. ,&@oS ParGeN
81 Louis .......'..,.,s,..'.'.'
OnlchgO ,',''s'ss ''s'''''''''.'''''.
NEW OrlcutlS.