New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-25
THE INCREASED USE OF GOLD.
INpORTATIONs OF 1T WILL EXCEED
THOSE OF ANY OTHER FISCAL YEAR.
Az r-s1srArl.Y LARGE COINAGE AT THE UNITED
states MrNTs-REMARKABLE INCREASE OF
ITS USE IN BUSINESS TRANSACTIONS

. >, ,-,,rsr-.rIY LARGE COINAGE AT THE UNITED
states INTERCHANGEABLE INCREASE OF
rrs Use IN BUSINESS TRANSACTIONS
fpY TELEGRAPH TO THE rnTpuNy.l
vr..,,,e,o, Nav 24-The increase IN gold cur
Fancy IN the United States and tho Increased use
OF gold In business transactions arc among tn"
interesting and remarkable phenomena OF the DUST
ness and commercial year The 'mportations OF eoio
during the fiscal year. which ends with next month";
.r, itolv IN exceed those OF any other fiscal year
I'm tho history Of the country, and the coinage VI
gold by the United States m!nts VIII. with single
execution exceed that OF any year since ioS1' ne
or,a % tho Bureau O. Statistics show that tho I'M
portations OF gold during tho present fiscal year
have been over slO5.ooocO. and dcductng the ex-
ports OF gold which amount 10 about SioV""o INC
net gain 10 tho gold stock here from Importation
Is n round $50 o0o OO. TO which It Is expected there
Will be added between this and the end or next
month sufficient to bring this years net
tmportations In excess OF exports up TO fully S"-
Ooo Csn n sum which exceeds that OF any preceding
year in the history OF the country Indeed the
reports OF the Government show only Twelve nscai
wears IN the last halr-ceutury in which the imports
of gold have exceeded tho exports. most or these
years being between 1873 and 1885, from 1855 to 1891
tho exports constantly exceeded the imports linen
tho tide again turned. tho excess or gold imports
In 1897 being sAs53.9c. and for 1898 promises TO
reach a round si00.o0OcW.
The addition to tho gold currency by coinage IN
tho rnin,s OF the country is also likely 10 be I'M
usually large during the present year. II amounted
during tho ten months ending April 3d. 1895. to
&OOls432 and is likely to reach $S5oH.oO by the
end o. tho year.
Another interesting development Is tho remarka-
bic increase In the OF gold IN business transac-
lions during the last few weeks. During the nrst
twenty days Of the present month 10 per cent or the
customs payments In New-York were made In gold
coin and during April over 80 per cent OF the
customs payments were In gold coin, When IL Is
remembered that for several years PRIOR TO iyS inc
customs payments in gold coin probably did not
average more than per cent. this increase during
the last two months becomes the moro remark
able and the effect has been felt In the payment
OF gold by the Treasury Mt It's custom houses and
in its general business transactions. Thls remark
able Increase In the use OF gold. especially In GUS
toms payments Mt New-York. s understood TO DO
largely due 10 the movement OF paper currency 10
tho West. portion Of 1t in payment for grain
shipments and greater portion probably by tho
withdrawal Of deposits In New-York by western
and Southern banks because OF uncertainty as 10
tho probable effect OF the war upon business.
Tho following table shows the imports ana ex-
ports OF gold during the last twenty years also the
excess OF imports or exports In each year during
that period The figures for the present nscai year
cover tho ten months ending April 80;