The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-06-10
FINANCE AND COTTON.
FINANCIAL.

NRE ]. FARMER, of Cleveland. Ohio, has com.
piled aud published in neat p araphlet some
Interesting statistics in relation to gold aud sill
YER In series of short chapters Mr.. Farmer
Siyes the substance ofwhat is known respecting
ihe product Ia and use OF the precious metals
both as money and in the arts from the earliest
times their relative value at diferest times. and
he weights, tineness, and value OF coins of the
United States Following these chapters are Ia.
HES of production, coinage, distribution, none.
lary units exports and imports, etc One of the
most interesting tables gives an estimate of pro-
ducton of both metals together with different
periOds MS follows
Before the Christian era ..........S $1,000 1000
Since the discovery Of America, .. 1900, 100000
From Nv 10 ls9Z '''''.''..'....,,,. l0OUOOOVOo
From ISIS to lsS2 ,:..;,;.....,.... G500, 0o00 90
Russian product OF gold. .......... 1000, 600
Total Observation-Disclosures. go 500 co., 90
The Chicago Times says 1t will be observed
that the years from 1913 to 1852 are counted
twice and, as these were years OF large produc-
ton, the value of the tabl5 is thus impaired
According to another table, the estimated
amount of gold now In the world Is ST. goo 600 TOO
and of silver 5000 on, 900. and Of both serving
as money in the forms of coin and bullion, SS-
G00O4000, The amonnt estimated to have been
lost destroyed, and used in the arts from the
earliest times is $1,000, 00l00O. Twenty Ave of
tho principal countries have, according TO the
latest estimates s. 1s,5A In gold money, and
S1CA9lS,27S In full legal tender silver money.
sgSSs5OS77 gold and sl6O, ,637 silver.
This country alone coined 1886, So 800 In gold and
s279S9, 2N in silver during that year The total
amount coined in this country from the organi.
zation of the mint in 1898 to June 81, 1881, was
sl2ll SS7, lS6 in gold and 1919, gsS i0i In silver
But the number of "standard' silver dollars
coined during all that time was only 90, 1855
The amount of gold coin In the country Is esti-
mated to have increased from s247 100, so on the
SOth of June, 1875 to sos 500, AL on the LIST Of
October 1881. The silver is estimated to have
increased during the same time from $50, S52, S2S
to SILL s15, 652. France has the largest supply
of gold money, estimated at sg27 600 600, and III.
dla the largest supply Of silver money estimated
at sl,0l5 600 000. From 1888 to 1881, both years
inclusive, this country exported sl0iS,GlS
l65 more gold and silver than II imported. The
largest recorded production of gold In the world
In any one year since 1918 was sl5j, $50 900, In
1858, and the largest production of silver was
s9i 0OO, COO i'll 1881.
Mr. Farmer thinks II worth while to tell his
readers that u thousand silver dollars weigh
about seventy. one and half pounds, while a
thousand dollars in gold weigh only about four
aud Il half pounds. "0ne hundred dollars In
gold weigh the same as one hundred and fifty
new greenbacks. Greenbacks of larger denonl-
nation are little heavier" He also states that
the FIVE and three cent nickel coins are one
fourth nickel and three-f ourths "copper" and five
parts tin and zine" From this II would appear
that there are more than four quarters In each
of these coins Mr. Farmer docs not say wheth.
five parts in u thousand of these coins are tin
and zinc.
The author states fact which is probably not
generally known when he says that twenty
cent pieces half dimes and silver three-ceni
pieces are legal tender for amounts not exceed.
ing FIVE dollars" while halves. quarters and
dimes are legal tender to the amount of ten dol
lars. This is an inference, and not statement Of
positive enactment In the summer OF 1879 con
gress enacted that the present silver coins OF
the United States Of smaller denominations than
81 shall hereafter be legal tender In all sums
not exceeding $40, In full payment Of all dues
public and private" Previously all subsidiary
silver coins extant had been legal tender In sums
of 50 only, Mr. Farmer seems to think that this
act OF 1879 did not affect the twenty cent i've
cent and three-cent pieces, because they
were not coins authorized by law whef
the act was passed In other words, he con
st'ues the act as though It read thus: THE sill
yer coins of the United states of smaller denom-
nations than 81 now authorized by law 10 b,
coined shall hereafter be legal tender etc.
Mr.. Farmer may be right about this, but h,
is certaiDly in error when he says; when
gold coin is reduced In weight by use or other
wise, more than one and one-half per cent. or i
In any way mutilated II Is no longer legal-ten
der. The law provides that the gold coins o
the United States shall be legal tender In al
payments at their nominal value when not be
low the.standard weight and limit of Tolerance
provided in this act and when reduced il
weight below, said standard an'
tolerance shall DO legal tender II
proportion TO thor actual weight.
There Is nothing whatever In the act about "on
and one-half per cent" ills provided that gol,
coins, If reduced by natural abrasion not NOR
than one-half OIL per cent after twenty. years
circulation and at Il ratablc proportion for an
less PERIOD shall DO received at their nomin0
value ut the United States treasury. Mr.. Far
mer is also mistaken in saying that the trad
dollar weighs 1909 grains. II weighs just ~
grains. Besides these errors of commission, MI
Ia liz into RH NIEs Inn hnn
says that the coinage OF standard" silver do
lars was discontinued by the act Of Februar
18th. 1873 That is true but II Is also true tbs
the coinage of these dollars was suspended f.
thirty years from ls06 TO 1886, by Il president
order
DALLAS EXCHANGE AND COIN.
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, M,,hio. Elk. 1saSPar9S St Louis '}s@k par@
chicago. .h@AParaA n. o.. h@&POr@
Galveston y Par@s HOuston..h Para
Exchange, all points X toh discount. sterlin
sight 81 IS Francs, 5@5 10 Marks, 2j.
Trade dollars. .9Octs. Mexican dollars. so
Mexican lnlvng 1lCts Mexican lunrlers IN