The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1896-06-27
PLENTY OF SMALL NOTES.
The U. 8. Treasury Well Equipped
With Kind of Bills Used in Hand
ling Crona. -


Washington, June 1s.-The treasury
is we'll equipped this summer for the
usual demand for small totes to move
the crops. There is an ample supply of
well seasoned notes piled away in the re-
serve vaults awaiting orders from the
subtrasury. The supply OF S.
note is somewhat larger than
that OF ones and twos, but
the supply of the latter Is believed to
be sufficient. There has not been much
trouble in this respect since the extern
sion of the bureau of engraving and
printing several years ago.
Little pressure was put upon the sup
ply in 1894 or 1895. because OF the dull
ness in the honey market and the ac-
emulation of the surplus fund in New
York. There Is still a considerable sur
plus now in New York, but 1t is believed
the demand for small currency will be
somewhat more brisk this year than for
the two years past. The express rate
charged by the United States Express
company is 20 cents per 1000, which is
s cents higher han the rate prevailing
two years ago. The government has
offered banks. and private citizens have
now an opportunity to obtain. currency
free Of charge If they a gold to offer
in exchange. Secretary Carlisle issued
a circular last November, which will be
continued in force, offering to send pa
per currency to any point designated
by the depositor of gold at a subtreas-
ury. the government assuming the ex-
press charges on the currency and on
the gold,
This method was employed at times
- 1n.A.. ,L1s A. ~r-ld ,A
serve a declining In 1892. and result
ed in considerable receipts of gold dur
Ing the summer n autumn. The re-
ceipts from such sources have not been
large of late. but have contributed In
some degree to strengthen the reserve.
The total redemptions Of legal tender
notes In gold from May l to June 10 were
$26. ATT. 1921, while the decline of the gold
reserve during the same period was only
about s21. 100, 900, indicating gains of gold
from various sources to the amount OF
about $4,000 900 during the six weeks
covered, 1t Is probable that the gains
OF gold will be much larger during the
summer as the demand for small notes
increases,
One OF the means of reducing the pres
sure upon the gold reserve is the re-
apt OIL SneTtIldI iOteS III SldlAdd1o
silver dollars. The process of retiring
these notes when thus redeemed was
moi inuagurated until 1893. when Sec
retary Carlisle discovered that the mar
gin of free silver. not covered by out
standing free silver certificates, was too
small to permit the continued exchange
OF Sherman notes for silver coin under
the Bland act. The redemption and re-
tirement of Sherman notes during near
ly three years has reached about $685.
900. 900, and amount outstanding has
been reduced from over $3.50, DOC, 0OO, the
amount originally issued under he law.
to $3.50. 463. $50, at the close of business
Tuesday. The amount thus retired and
redeemed during the first two years of
the proceeds was s12. 1854. 722. Of which
about $4,000. 900 was redeemed In the
year ending September 80. 1894, and the
remainder during the following year.
There have already been more than
$13, 900, 900 retired during the last ten
months, md several millions will I'M
doubtedly be added during the summer
and autumn.