The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1888-11-23
THE NATIONS COIN.
The People Do Not Like the
Silver Dollars.
REPORT OF TREASURER HYATT.
Suspension Of silver Coinage Ad-
sfsed-peersase In Mztii.sed
.ad ceanserfeit Money.

United States James W. Hyatt has sub
mftsed to Secretary Fzirchild his annual
report Of operations Of the tre2sary. The
net revenues OF the government for the
fiscal year ended June 20, lsS8. were ys-a.-
- .1-s, Aad the net expenditures szs- .sa4.-
soi. the surplus receipts available for ~
aRction Of the public debt being slii,3u.-
g73, an increase OF sT.sTe,f f76 over tie year
before. As compared With l>>7, the Ters-
ra-s Tere f-ssSe1sf e. szd tlsa- -,
- Ez-ssctes x7szs less fGe treasury bal
snee increased during the year from
ss9.z2s.s7s to <i2s sss,4 .azs. and ,ee total
assets, inclndtng certificates of deposit, 10
cash increased from ~, 81 - 10 s.s4,-
-. 80 A net change cf t60S7s ssS ia the
balance was Produced BY an increase OF
So .5z6 AS in the assets and a decrease Of
81. -S9z IN the liabilities The silver
balance fell of more than s. .nen9G. The
principal increase OF asses was in Jnifed
states notes aad deposits in national
banks, aud the principal decrease IN lisbii-
iries in the pablo debt and the funds fer
redemption of national bank notes.
There EGs a neg decrease Of s7s7sS 90
durizg the ascal year Ia the principal OF
the Interest bearing debt. The tofzl pur-
cheses of bonds fer the sinking fund and
out Of the surplus revenues were ssl, A.
So The net premium paid. exclusive o
accrued interest, being ss.z73. So
The gold and silver coin and baIiion III
the country and ali kinds Of notes sad cc;-
tiheates outstanding June D, iSs7, gEloani-
ed 10 81 70, -59 So and Jane 80. ISIS. TO
s., ,o93 81. OIL The stock OF gold snd silver
increased from 81 co. .aIi s0I 10 81 or s.sI.-
go, mostly in gold. Tae increase in the
volume OF paper circulation was $sS a.
400, resulting from al increase Of sIlo.sl9
SIS in the amount Of certificates, and a
falling OF of s@e.sg5,aA N the total OF
notes and fractional curfe1ey-
LosT PAPER csRRExcY
some attention has been given 10 the
question OF the probable loss or destruc-
ton of paper currency. bat without auy
very definite result. A table Is given show
ing the course OF redeinptions Of the frxt
issae of legal tender notes. Gath the notes
are called in by the government or some
other cause brings them 70 the treasury,
the loss from destruction must be mere or
less matter OF conjecture. A most care
full estimate, from data at hand. places il
al per ceat or less, according TO the de-
nomination.
CERTIFICATES OF DEPOSIT.
Certificates of deposit amounting to
$24. il0. coo were issued for United States
notes, aud sls,455,eoo were redeemed, leav-
ing $i4. CO, 600 outstanding. The treasurer
attributes the decrease of use OF these Ger
tifica;es since 1856 TO the change in the
manner of redeeming them, the holder
now receiving the same notes that were
deposited, instead Of new notes, a. for
merry.
The volume Of gold certificates outstand-
ing increased S20.s s. ,SS3. reaching SIG. .023.-
Ij0, the highest point yet noted az the end
of any fiscal year. Taking into account
the decrease in the treasury. the total in
crease in circulation was - .eal .iss.
THE cARTgHEEL DOLLAR UsPoPVLAR.
The coinage OF silver dollars during the
year amounted 10 s.. .4s4 ,67S making a total
coinage OF so, ,424,599. The increase of net
was only s3a.i5S. Owing 10 q
scarcity of one and two-dollas notes. and
demand for the movement OF crops. 5000.
90 coins were drawn into circulation be-
tween May and November, 1857, bat when
notes were again TO be had the dollars came
hack to the treasury as fast as they had
gone out. The treasurer is OF the opinion
that the people have sll OF these cotus iaey
gant or are NIl14.s &sss.s-ts ) N
mends. II purchases of silver aru 70 con-
tinue, that the bullion be prf into the
form OF heavy bars or ingots, arguing that
the present supply of dollars will be sufii
cient for any demand there is likely to be
for them, and that any increase of certifi-
Gates of circulation could be based with
perfect safety ON uncoined metal.
The new silver vault in the treasury
building. having capacity OF 500, ,00o. 900,
and said TO be the largest treasury vault in
the world, is being fled al the rate of
500, 600 day. II viii hold the total coin
age of three years, but at the end OF that
period still further storage room viii prob
ably have 20 be provided, unless the coin
age is suspended.
OTHER COIN IN THE TREASURY.
The amount OF fractional silver coin In
The treasury has not changed much since
the nrst accumulation after ne resump-
ton Of specie payment The treasurer
sat- 49, . N4.. ers.aA IN h. faf Il.
good condition with the exception OF a
little. Many Of the silver hali-dollars are
much worn, some being quite smooth. and
il has been impossible TO recoin these, be
cause the loss would have been too great
in proportion 10 the new coinage. mostly
dimes, which il was necessary to produce.
The decrease In the amount OF dedue-
iions, on acoouEt of muiiltafiOns. from
face value of the currency redeemed, add
ing the number OF counterfeit notes and
coins rejected. shows gratifying improve
Inent ia the condition of the ejaculation in
this respect
BONDS To SECURE BANK CIRCULATION.
At the close OF the year the treasury held
sl7s. 81. .65O OF United states bonds 10 secure
national baak circulation. and $50. .iZS,0o0
10 secure public moneys held in depository
banks. Tnere was a decrease during the
year of $I3,e54.0jo in the smount of the
former, and q decrease OF So 81, 500 in the
amount of the latter.
There was s5s.7l2sll Of public money
held by the banks an increase OF S.. 49,
jSS The semi annual duty collected from
national banks amounted 10 81 ,6l6. II, max
ing an aggregate Of slsS, ,zsS. .s13 since 1888.
ihe net proceeds on national bank notes
during the year was SIS, ~, -.
The redsmpiions were sll,eeo,o00 greater
han those OF the preceding year, In the
lace Of the reduction of SO $4,000 ia two
years in the annual outstanding. and
sruster in proportion to the circuisfiOn
ban those Of any year save iwo since 1879.