New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-15


TIE MONETARY SITUATION.
II has been explained already that tie New
York associated banks at the close Of business
last Friday evening probably held about $3.5OO.-
VlO more ash than the sum reported in Yesterday,
statement, and also that the actual cash balances
III the United States Treasury vaults because Of
uadlscharged bond purchases. were about $J.OUO-
Ol0 less than the sum reported by us Yesterday 5
statement Therefore, for the purposes q The
following analysis, the TWO discrepancies referred
% practically will Offset each other There seem,
70 be little basis for the recently promulgated
lea that the recent and possible silver legislation
rs caused any boarding OF gold. In favor Of
lie idea, IL has been shown that the Treasury
sad the New ork banks since July 81 had lost
81 000,0 in gold. Firstly, what amount Of
;od the Ncw-York banks have lost is unknown,
'ecausc their item OF specie Includes both gold
I'D silver notes, well rs tie coins Of the two
cetalS Secondly, II Is known that because Of
he scarcity Of small nOtcs-ihcTe are no gold
sDes under S2O-thc New York banks have turned
over 81 900, 600 Of gold certificates and taken
in exchange five and ten dollar gold coins 10
snail currency. Probably Tie South and West
levcr before saw gold coins i'm such plentiful
circulation as they pow are. Bat II is not alone
,old which has disappeared; In fact. Only one
bird of the amount OF money which has dis
appeared since July 81 from the Treasury and
tie NcW-Yort banks, surprising tie NcW-I ork
banks specie 10 mean only goid, has been ~
gold. Tie Treasury net gold holdings by yrStcr-
days statement were S?4,216,52l les than OH
July -. The NcW-NOrk banks specie" hold
ms by Yesterdays statement were SlO,021, 500
hsS than Boy the statement Of August .. The
United states Treasury by yesterday statement
held SlGg46.33- less net silver than il did on
JglV 81 but in The meantime the new silver
money created has amounted 10 22oO0.0oO,
Aowng Disappearance Of S3s.936.3%N silver
The United States TraSury's Yesterdays STATE
neni shows net holdings u ola lcgal-tend"is
S,7lN.0l7 loss than on JHly 81 yesterday )
Snk statement shows .c,aI-tcndcr notcS he'd 10
have been s. 111.200 les than August !? Here
Bsbowu aa outQo from Tie uiicd States Treasury
and the Ncw-Nork banks of the large sum Of
Sse.02j.s7G legal mOECy since August !, which
may be tabulatcd as follows:
I. >. los- - gold -t, = ~ ~
l.. > JOSS OF silver 70 - n'd
/. :. silver ~ "
. =. oss o. egai-'eLde. note ,tt'.-"ii'
NeN-Yoik hanks los, # 'spcc.n '----.-.---. J o.
"eV-l OH t.As' los Of J. gait cnder, -. I'-JJ
50 it is clearly shown that Whatever Of
harding or hiding Of money there has been,
Which originated IL the early part OF August, has
not been confined 10 gold or gold notes. ana that
the Silver legislation past and 10 come las MOI
been factor in tae myslcIlo IS disappearance ol
.arse part Of the money which has gone Out OF
The Treasury and TIE New-NCrk banks since
August l. Incidentally. IT may bc remarked
HAT from August % December the JOotyh
banks gained IN specie and lcgal-'cnders S2~l ,lOo
aud the PHILADELPHIA banks lost S3,I44OOO.
10 view Of the foregoing undlsputcd facts and