The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1896-07-30
MARKETS OF THE WORLD
Local, Eastern and Foreign
Commercial Dealings
WALL STREET SPECULATION
The Circulation OF Coined Silver AM Its
Contraction
Tho General Stock Of Money in the Country
Shows Slight Decrease During the
Past Fiscal Year

According TO the circulation statement
OIL the treasury department the general
stock of money in the country decreased
slightly during the past year having been
WIZ 064,66l on July /, 1895, and 81, 1874 245 =
III on the LIST of July 1895. The amount of
money in the treasury increased in the
twelve months from S612 932, 500 to 1854 519 :
sl; the amount of gold coin increased
about $l2,OOO,0O0, but the amount of gold
bullion, which is separately stated, and
docs not constitute a part of this aggre-
gate OF money. diminished $4,000 900. The
amount OF gold coin in the country de-
creased $l2,0CJ, 900; there was an increase of
that amount in the gold in the treasury
ana decrease of double that amount in
the gold coin in circulation. There was "a
decrease or $1,000 600 in round figures in the
total amount of silver dollars pretty much
all IN the amount in the treasury. Gold
certihcates have diminished &c. O00, 900; sill
yer certificates have increased $l4, 900, O00
couple or millions of the increase being
IN the treasury holdings and the rest in
circulation; the Sherman notes have d.
ninished nearly sl7,OOO,o 600 and the amount
IL IL eli circulation has decreased more than
100000 600. About $4,000, 900 of the legal
tender notes which were in circulation 81
year ago are now In the treasury. During
lation decreased over $12 1000; the silver
certificates decreased $1,000 000 the Sher-
man notes nearly $3,00O,0OO the currency
certificates over a million and a half and
the subsidiary silver nearly a million and
q half. Other kinds of currency showed
smaller decreases. except gold coin and
national bank notes. which Increased a lit
tle.-Empire of Finance and Trade.
Speaking of the decision of the treas
ury to coin silver dollars. the New York
journal of Commerce says.
The amount of silver coin in the treas
ury for redemption purposes is $11, 217, 5S2
Tho amount thus held on January was
$l3 l69.60S, so that the coinage during the
past six months to the amount of 81, 500, 900
has not kept pace with the redemptions.
The amount of silver dollars held in the
treasury under the Sherman law at the
was about $4,000 900, and 1t is the purpose
OF Secretary Carlisle to restore this re-
serve to about that amount 1t is doubt
ful whether this can be accomplished.
even with coinage at the rate of SO, 900 900
per month. Redemption of Sherman notes
IN silver are heavy during the summer and
autumn, because of the demand for silver
south. The entire redemptions since Au-
gust. 1893. have been about $26, 900 000 of
which 4.O00.OOO was during the first year
SS0O0,00O during the second year and the
remainder during the ten months just
closed. A like demand for redepmtion
during the coming autumn will absorb the
bulk OF the new coinage and leave the re-
than at present. The minis cannot get 70
work on the coinage in any case until the
middle of July, as the first half of the
month is taken for the accounting of stock
and the other preparations for the begin
ming of a new fiscal year. The outstanding
Sherman notes have now been reduced to
$l29, 5S3.2S0 and the pressure upon the gold
the redemption of SIG, 900, 900 in silver dol
lars.