The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1884-12-09


lasia, S1.79; Cape Colonies, $3.13;
Portugal, So 20; Sweden and Norway,
SO.Sl; Danish Kingdom, 1886. In
the same countries the gold coin cir
culation is as follows: United King
dom, S16.5S; Australasia, $3.50;
Cape Colonies, S31.O6; Portugal, SO;
Sweden and Norway, 81. 10; Danish
Kingdom, S6.64. The proportions of
gold TO silver are therefore as follows;
In the United Kingdom the silver
amounts TO Is per cent, in Austria
lasia to 13 per cent, at the Cape to 10
per cent, in Portugal to 33 per cent,
i'm Sweden and Norway to 81 per
cent and in the Kingdom of De-
mark to SO per cent of the gold circu-
lation. It is not possible to be absO-
Iutely exact as to the amount of gold
coin in the Kingdom, because the
outward entries for some recent ex-
portations do not describe the nature
of the coin shipped. From the ma
ture of the entries, however, it may
be gathered that about half the eX-
ports were English gold coin. An
other element cf uncertainty arises
from the fact that sovereigns are
counted in as silver in at least part
of the estimates furnished to the Di-
rector of the Mint through Mr..
Daggett for 31st December last.
To arrive at the amounts of
CsI IN, ftan, fPxy
on the first of this month we shall
take the exports to represent half
Z. S. gold which for our purposes is
the only gold to be considered. On
31st December last the coin here was
gold S549, 900, silver $950.000, total
$1,499, 900. The importations since
are silver and sovereigns $725, 288, IS.
gold $41, ,08450: the expectations say
s55,815 gold and $55,Sl5 sovereigns
and silver On December 1st there
were extant $949,000 Treasury Certi-
ficates for deposited coin of which
$50, 600 are SO notes. The remainder
$500 900 are now current as repre-
senting gold, and the gold is being
purchased By the Treasury with
silver ut a loss estimated ut not less
than $150,0O0. This conversion with
draws therefore $l,049, 900 of silver
from circulation. Deducting there
fore the private export already made
and the export for conversion now
going on from the amount OF the sill
yer in circulation 31st December last
and that imported, we find that there
is left available for circulation silver
to the amount OF $47O,373. A cor
rection, however, has to be made in
this calculation, because the Treasury
held $4,000 gold against it's silver
certificates before the process OF con-
version began. This reduces the sill
yer to be sent away by SO much and
makes that available for circulation
S610, ,473. The gold here on Decem-
Der 31st, 1883, was $549,000, the con-
version of silver adds $949, 900 to this,
giving a total of 81 ,498, 900, from which
must be deducted $14, 73O.50, the ex-
cess of expectations over importa-
tions, leaving the gold available for
circulation 81, ,483 269.50. The silver
is therefore in the proportion of Al
per cent to the gold, a higher proper
tion than in any other country
where the silver has the same limited
use as legal tender as it has here.
The silver per head of population is
$S.48.
This article has already extended
to such a length that we must defer
our comments on. and deductions
from it's figures till another issue.