Evening star., 1895-04-30
Organized, Applications pending.
Il si.1oo,ooo 81 s2.5lo,oot

IoSt OHfSc StShDe0 If per.
Another Indication of the expanding vol
u1ne of trade Is afforded by the issues of
stamped paper by the Post Office Depart
ment The term stamped paper" is the
technical designation at the department for
postage stamps, envelopes and all forms Of
postage. These issues We're larger during
the quarter ending March 81 last than for
any quarter in the history of the govern
ment exceeding by about $j50O0O the
largest preceding quarter, which ended
March 81, 1893. at the period of greatest
expansion before the panic. Mr.. Hazen,
who served for many years under the re-
publican administrations third assistant
postmaster general. and was retained be-
cause of the value of his services more
than half of Mr.. Cleveland's first term,
demonstrated, after the depression of 1884,
by an elaborate series of statistics, that
the sales of stamped paper fiuctuated al
most exactly with the state of business.
The falling off in postal receipts does not
come Immediately upon the outbreak of a
crisis. because the great volume of trans
actions between retailers and consumers
does not feel the pinch until after the bank
ers and manufacturers have curtailed thei:
operations. The following table, covering
the issues of stamped paper for each quar-
ter for the past three years indicates that
the influence of the crisis of 1893 was first
felt in the quarter ending September 80 of
that year and continued to be felt until the
Quarter 1892 1893. 1894
June so. .s1G6,5,531 S17,7sO,550 81, ,oo3, ,2os
Sept. 3U.... l6 4a3..,55 15.969.421 15,6l6,521
Dec. 3l..... 1s.95o.6I3 1s,193,729 1s.936.;2S
is.G. 1871. 1885.
March 81. 10l34,45l 1S,s26.I02 -, ,7s3.610
The Movement of Gold.
The restoration of confidence in the treas
ury since the conclusion of the recent bond
contract is indicated, in the opinion of the
treasury officials by the falling off in the
presentation of government paper money
for redemption in gold. 1t was these re-
demptions-which ran as high as S715GoiG
on a single day in Jenuary, and averaged
about s., 800 900 for the last twelve days be-
fore the announcement of negotiations for
the bond issue-which reduced the treasury
gold reserve on February II, to S1 ,33; 2l2
gold payments at the New York subtreas-
ury. These redemptionS dropped to $3.50,
So in February, the larger part taking
place before the conclusion of the contract,
and dropped during March to s1,219. .037.
The figures for the first twenty-four days
of April have been only $i52.5O1 and but
for one or two special demands for export
TO South America or Canada would have
shown an even smaller total. The figures
for a few days recently were s2I.177 on
April II. s10,2I5 on April 16, $50, iO3 on
April II and s2+.2 on April Is. The figures
for these four days afford an average of
less than $4,000 for a secular day, or about
$7,2Up.UU per year. Meantime the tide of
gold shipments. which for series of years
has been steadily outward in February and
March. has turned in the direction of the
United States. The difference between the
situation a year ago and this spring in
this regard is Indicated by the following
table showing the net gold movement since
the beginning of 1894: