Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-12-03
1854. resulting in a deficit Of 100000


On the first day OF November. 1894. the
total stock Of money of all kinds in the
country was g, 24O. 773.888, as against 81
2O4, 6o1 900 on the LIST day Of November.
1893. and the money Of all kinds in circula-
ton. or not inclnded In the treasury hold
ings, was 81. ST.. UD8. 49, or S2427 per capita
upon an estimated population Of % 1851. 900.
At the same date there was held in the
treasury gold bullion amounting to 49,
615. 17755, and silver bullion which was
purchased at a cost Of 1927. 779,9sS. The
purchase of silver bullion, under the act
Of July IA, 1890, ceased on the LIST day Of
November. 1898. and up to that time there
had been purchased during the fiscal year
II 9l7 ,65S. 70 fine ounees at a cost Of s. 49,
1872, an average cost Of so. 7313 per fine
ounce. The total amount of silver pur-
chased from the time that law took effect
until the repeal Of its purchasing clause,
On the date last mentioned, was 1885, 74.-
6S253 fine ounces, which cost 1855, 931, =
COZ. q. the average price per fine ounce being
SO9244. The total amount of standard sill
yer dollars coined at the minis of the
United States since the passage of the
act of February 28. 1878. is 1921. 776, 4OS, of
which 1878 106, 1913 were coined under the
provisions of that act. $Ss. 1881. 143 under
the provisions of the act Of July IA. 1890,
and $5,O7S,472 under the act providing for
the coinage Of trade dollar bullion. The
total coinage of all metals at our mints
during the last fiscal year consisted Of g.
4S5 go pieces, valued at $1O8, 218 73OO6. Of
which there were 800. .9l25O in gold
coined, $75S in standard silver dollars,
So Oh 1000 In subsidiary silver coin, and
$716.919.26 in minor coin.
During the calendar year 1893 the pro-
duction Of precious metals In the United
States was estimated at 1739,323 fine
ounces Of gold. Of the commercial and COIN
age value Of 35,a55. 900. and 60,OOO,OOO fine
ounces of silver. Of the bullion or market
value of $48,SoO,OOO, and Of the coinage
value of $7I,576,OGO. 1t is estimated that
on the LIST day of July. 1894. the stock Of
metallic money in the United States, con-
sisting Of coin and bullion, amounted to
81. 251 .64O05S. Of which $G27, 023. POI was gold
and $624 .347,757 was silver.
Banks and Circulation.
Fifty national banks We're organized dur
ing the year ending October 81, 1894. with
a capital Of $5,2S5OOO, and seventy-nine,
with a capital of slO,475. 600, went into vol
untary liquidation. Twenty-one banks,
with a capital of s.. 10000. were placed In
the hands Of receivers The total number
Of national banks in existence on the 31st
day of October last was 1856. being forty
less than on the 3lst day of October, 1898.
The capital stock paid in was $672, 81 1865,
being S9,67S, 491 less than at the same time
in the previous year, and the surplus fund
and undivided profits, less expenses and
taxes paid. amounted to 1894, 121 ,OS2 10,
which was 16,OS9, $50 less than on October
81, 1893.
The circulation was decreased 81, TAI ,563.
The obligations of the banks to each other
were increased s117, 26S.334, and the indi-
vidual deposits We're s277, 294, 4S9 less than
at the corresponding date in the previous
year. Loans and discounts were S161 206
923 more than at the same time the pre-
vious year, and checks and other cash
items were s9O.349.9G3 more. The total re-
sources Of the banks at the date men,
toned amounted to s3,473 922, O55. as against
8, 100. 563, 2Si.36 in 1893.
Recommends Slight Enlargement of
the Army.
it appears that the strength of the army
on September 80. 1894. was 2,135 officers
and %, 765 enlisted men.
Although this is apparently very slight
decrease compared with the previous year.
the actual effective force has been in
creased to the eauiva lent Of nearly two
re giments through the reorganization of
the system Of rscrtiirng and the conse-
quent release to ,regimental duty OF the
large force of men hitherto serving at the
| recruiting depots. The abolition Of these
depots, 1t is predicted. will Furthermore
effect an annual reduction approximating
$3.50, 900 in the direct expenditures. besides
promoting generally the health, morale
and discipline OF the troops The execu-
ton of the policy of concentrating the
army at important centers of population
and transportation, foreshadowed In the
last annual report of the Secretary, has
resulted In the abandonment of fifteen OF
| the smaller posts. which was effected I'M
| der a plan which assemblies organizations
Of the same regiments hitherto widely
| separated.
This renders our small forces more readily
effective for any service which they may be
called upon to perform, increases the ex-
| tent Of the territory under protection with
| out diminishing the security heretofore af-
forded to any locality, improves the discip-
line. training and esprit de corps of the
army, esides considerably decreasing the
cost Of its maintenance.
Though the forces Of the Department of
the East have been somewhat increased,
more than three-fourths of the army is
still stationed west Of the Mississippi.
This carefully matured policy, which Sc
cures the best and greatest service In the
interest Of the general welfare from the
small force comprising our regular army,
should not be thoughtlessly embarrassed by
tho creation Of new and unnecessary posts
through acts of Congress to crafty the
| ambitions or interests Of localities. While
the maximum legal strength Of the army
Is $4,000 men, the effective strength,
| through various causes. is but little over
10000 men. The purpose of Congress does
not, therefore, seem to be fully attained
by the existing condition. While no con-
siderable increase in the army is, In
my Judgment. demanded by recent events,
the policy OF seacoast fertilization. In
the prosecution of which We have been
steadily engaged for some years, has so
far developed as to suggest that the eff
fective strength of the army be now made
at least equal to the legal strength. Meas
ures taken by the department during the
year. as indicated, have already considera-
bly, augmented the effective force, and the
Secretary Of War presents q plan, which /