Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1892-07-14

.ained at our Philadelphia agency, the
Philadelphia National Bank. They said
it could not be spared in the city. The
presumption is the bank inquired
around in order to accommodate US. AT
length what we got was $4,000 in $l0s
and $4,000 in Sos, just the opposite to
what we asked for. That showed u dis
tinctive restriction on that occasion of
low denomination currency in Phiia-
delphia.
Monday morning last we were short
of IS notes. On closing in the after
noon we found we had taken in enough
to supply all our needs as regards that
denomination of note.
Thursday last we had five times as
many 81 notes on hand as we needed.
WILMINGTON AND BRANpYwISE.
President George S. Capclle Of the
National Bank OF Wilmington and
Brandywine was found at his desk yes
terday week.
He said in effect: "No, do not think
this region. We have no difficulty in
getting all we need.
1--WE pay the wage account of some
of the large firms of the city and if
anything of the kind existed suppose
would have heard of ii.
"Sometimes we have to send TO Phila-
delphia for small denomination notes
and principally for silver, but we never
experience any difficulty in getting all
we want.
81 don't think an increase of the per
capita circulation from its present $24
or $50 to $50 would increase business.
= II do not see how it would help bust
ness here. There is no restriction Of
circulation in Wilmington and until
that is shown an increase of circulation
can be of no benefit.
ave have plenty of every denomina-
ton of notes and Of silver. | think there
is more silver in circulation in Whining
ton now than there was three or four
years ago"
AT THE CENTRAL BANK.
President William NJ. Field, of the
Central National Bank, was found at
his Office on Thursday. He had Just
come from meeting Of the board of di
reCtors.
In answer to the reporters questions
Mr. Field replied that his bank has ex-
perienccd no scarcity of the circulating
! nedium.
"Iiere is no local difficulty in con-
nection with the currency" he con-
tinued. "We have carried through from
the previous annual meeting to the one
just past several boxes, uDdisturbed, of
low denomination currency, comprising
81 and So notes. The only deficiency |
can mention is in regard to fractional
silver currency, quarters and half dol
lars, DC. But there is plenty of silver
and we can readily obtain all the frac-
tional currency We reed ON application
in regard to increasing the per capita
circulation as suggested from certain
directions, think that is mistake. 1t
is not demanded in business, at least in
| this region. think that while it might
encourage venturesome people in specu-
lation | certainly doubt whether it
would be of permanent substantial aid
to general business throughout the
country. a..
'At our meeting this morning ! was
remarking to the directors in regard to
the unusually healthy business indica-
tions that exist in Wilmington at this
moment 1t is the soundest within my
recollection. There are less renewals
| OF paper than have ever seen. There
are no losses on discount loans.
"Ihis fact you will realize at sight as
a very cogent argument against any dis
| turbance or any experiment with the
| present healthy condition OF monetary
matters. If there be no need for infla-
ton OF the circulating medium it would
seem to me to be unwise to attempt any,
Among the public generally outside
| OF the bankers, business firms, and
wholesale and retail storekeepers, there
is an expression of opinion in con-
forinity with what has been reported.
Yet it would be unjust to assert that
these opinions hold uniformly among
the general public.
Quite number of people express
| opinions rather favorable to the free sill
yer currency, and some think that if the
experiment OF raising the per capita cir
culation from 1926 to $50, 1t might be of
advantage to the country. One gentle
man, on being pressed for his reasons,
replied that the business of the country
has increased in an immensely greater
ratio than has the amount of currency
circulation. On that basis he claimed
that retail business and the need of
smaller change, such as 81 and SO
notes and silver dollars could be utilized
to much larger extent than is now
| allowed.
He stated also that when the treasury
answered the last public demand and
issued silver certificates the public was
not treated honestly. Too large share
OF the new circulation was issued in
high denomination notes, $50, 800, &C.,
which was entirely useless to the gem
eral public. He said also that that bit
OF treachery by the department was a
sop to Wall street and betrayal of the
intent of Congress when it authorized
the asked for relief.
Others questioned on the subject
openly asserted their belief in the
Peoples party platform, especially in
sections A and b OF the finance planl;
which say:
! We demand free and unlimited coinage
of silver aud gold at the present legal ratio
of IL 10 /,
We demand that the amount of the cir.
cuiation medium be speedily increased to
not less than so capita.