New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-08-07

pulse which all intu,trc, received from restored con
was bess e i'm s and so addd G argc e cG H dT
stock OF gold from foreign source. The estimated
VI va ,145'74is39 Two ysar ' Itnn |u,
S47s.4s4.53s. gain Of T2i2 AZ 701. about %
per cent and now ! >. Of August. Is 1861 1923 ,eO.
TIE STANDARD SILVER DOLLAR
In the winter of 1873 the standard silver dollar which
had been demonezed in 1873 restored to It's place
I'm our monetary system, and the secretary Of the
Treasury was required by the act Of February o. SIS.
TO purchase coin into dollars Of 412 grains OF
standard silver not less than s2.OOOOOO, nor more
IMAM ~ 900 900 worth Of bullion each month Con.
grcss In the act authorized the holders OF
standard silver dollars to present them at The Treasury
Gates therefor. subsequently the requirement that
rot less than $40 should be received was Withdrawn
and certificates OF the denomination Of II, ~ and -
authorized. In this way provision was made
for the issue Of paper money based on an equal amount
Of silver dollars. These certificates, as well rs the
gold certificates. are what is sometimes called rep,
Iescnative money That Is. they represent the actll
money, which Is held In the Treasury for their re-
dcmption.
The coinage of standard silver dollars continued at the
rate OF - 100000 worth of bullion each month, from
1875 to 1890. In the latter year Conees. passed l
act directing the purchase each month Of 4ooo'ooC
I'm payment therefor. This act approved July ia,
l-90. II contained the provision that should iahe
effect thirty days after its approval ana prOhpi$ Va
August 10. 1880, the purchases OF silver Dui n
and issue of Treasury notes began and are beng yT
ounces of silver have been purchased and there
have been issued In payment tneIelS n1 src IN crc
laton among the people. and the remainder -
which In the Treasury, were received III PhS
of dues the Government, and available lot HN
The increase Of gold in this country and the nGrcaSe
issue of Treasury notes Of 1890, have ad1u 10 ,ns
volume of money in circulation IN ti@ NV IN. i%S
3s3. Thre hn, been, however declTa i ,ic re
tonal bank of 1874, -o906l caINrd 9S nc the
resulting high price OF the bonds sln out tnn,ln5
III not only prevented new banks from taking out
crr has prompted many ol INV tiu
give up their circulation ana zen n ,h, T." con
lime The notes i'm circulation The net increase III
circulation since 1879 i S'o3'3l ''''2' AMOS,
PROFIT FROM NATIONAL BANK ClRC'LAlloN'
The profit arising from national bank circulation
price of 4 per cent bonds Il basis, VIZ no ne
annual profit the circulation which ma! - ne
In OTHER words IA national bank having circulation
Of 900 in notes make Just 80 90 ' Hnd nn cir
culatlon This Is less thin One-ha OF per cent on
the $4,000 capital engaged rms cn'u In'' ~
based upon the ."PpO"n ep t"'' # if should loan at
per there would be proft on It's 'r'"''"'' ="
about s225.
Bank with 100000 par value per cent oo"'' W.
Money at per GsTi fs ePd iS% 2Vaa 'f DO
100000 of As at li6 "
500 600 in circulation
500 j. per cent redemption fund
So 500 to loan at per d 'S' 90
100000 bonds al ! per t'hV -------'--''''
o.. ,,cono ..................... 1870 90
isary ynn To-. Of dR, ,e@ a1 el,cnaioa 800
REDEMPTION chafees ..-......... q" ." c,c15
NJ income {, r fr c6o ci ss p ,er, 90
.5.3 -
onr .unpIv Of money IS alternately increased ana
diminished hy the operation 81 our foreign uau Hl
our relations financially with FOREIGN co.nIl~ 3D., hi
our minors exceed ports We must pay Inv "ni
9iico in some wav ana on the other hand. II our "N
ports exceed o4r imports IN" fo', , 81 trade on
cash basis would be easy 10 determine at amy ny" i
ease NAV be but The situation is complicated IN man,
WAYS and II not nfrcquently HAPPEN, INA, '' car ~,
citations Of our merchants and bankers are - ~
naught by some obscure or unforeseen m'N''n'"''
THE BALANCE OF TRADE tbs YEAR
The wear lust closed * Illustration upon 'lS
point The balance OF trade. according 10 '''''"
house returns which are regarded rs correct i '
than S2o2, Ooo,oOO In our favor, ana vet We "' ~
porting gold.
than s1OoOtOOOO II year abroad. =. There i h"I
ancc against Us Of S2j.OOO.01 in freight. =. In'
value o mercIandse as paid for by our importers J,
rrol ably S23OOOcoO more than the VAN" ''u,nri
10 the custom House. !. The fear that ihl' c"uniy
may go to silver lasi, !, caniins thr sg r,r ,
and otfer forms OF securities held abroad. The holder
Of American securities abroad rc@.ons mat IL ,nr
i, g" slI hem and get the gold before hi, happens.
There are always differences Of olhl" ah'lF, our
auaucIer- a TO the amount 81 prospective eDD Vl
now Of specie. and il sometimes happens lhhl N;o
movement j, directly contrary &" what /, "Nic'' ~
" are able by the aid 81 Our complete custom mouse
ev-tem 10 tel how much specl. ha, gone out or CON,
II, during any specified past period but "" ehhDl
nc tlr:tnlv forcic tle amount that VIII come OF :"
during future period -, Limo
There j. another source oi change IN tne '"linc
Of our money which i, always IN ne direction ~ 81
incrcase TIL, /. the prduct OF gcio ron our mn
OF cGur~4 the NIDrIs Of gold may sometime t"1h
the production. and net loss OF go" j. ne r-b,
I'M 6ur god mines are source Of great str"neih 10
orr financial system. .,., ,,.. .,,
Thr production Of gold In the United slaies since
and Including the hscal year ESQ war Il follows
nronr,T or GOLD FROM MINES IL THE UNITED