The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-09-19
Interesting Statistics Concerning
Currency and Gold Production.
THE GROWTH OF BANKING
BUT TWENTY FIVE BANKS ONE
HUNDRED YEARS AGO.
Now There Are Nearly Ten Thousand
Increase In the Amount Of
Money In Circulation-Figures
On the Gold Production-Coinage
of Gold In 1897.

New York, Sept. ia special to the
Tribune from Washington says: The
statistics of banking, currency, coin
age and the production OF precious
metals in the United States are pre-
scented in great detail by series OF
tables just issued by the treasury bu-
reau of statistics, as part Oh the july
summary of commerce and finance
An examination of the tables reveals
some interesting facts. The earliest
figures are those of IVA, which gave
the specie of that date at 81, 100000. The
same statement publishes the specie in
1884 at SIC, COT, 600, the number of banks
three. with a capital of 81, 100, coo and a
circulation of $1,000, 600. By 1877 the
number of banks had increased to 70,
the capital to $19,200,000, the bank cir
culation to $100, 000, 600 and the specie
to $14, GOO, 600.
The story of the century 1797-1S97 is
told fully in the elaborate series of
tables, both as to banks and their cur
rency and gold and silver production
and coinage. In that time the number
of banks increased to 9,457, the cap
ital to 81 1927, 493,6 53, and the bank cir
culation to S19S, 1920 SO. The deposits in
the first bank of the United States in
1903, the earliest date at which reports
Of bank deposits are obtainable,
amounted to SS,5O0,O 900; the Individual
deposits reported by the 9.457 banks in
1897 amounted to $5,197,755,SO4. OF
these, 1898, 376, OBS were savings depos-
its.
The increase in the number of state
banks prior to the civil war is shown
TO have been rapid, the number in 1880
being 329; in 1910, TAI; in 1850, SO9; in
1860, 1862. The decrease from 1860 was
equally rapid, the number OF state
banks in 1863 being 1.023; in 1864, 349.
and in 1868, 247, while the number of
national banks organized in 1868, 1864
and 1865 was 1,601. State banks again
increased in numbers after 1868, the
number in 1872 being sec; in 1885, 975;
in 1888, 1.403; in 1890, 2,101; in 1894, g.
$50. and in 1897 the number, including
private banks, is reported at 1878.
Prior to 1860 the deposits in state banks
amounted to little more than half the
capital stock, while since 1877 deposits
have at all times been more than
double the amount of capital stock,
and in 1897 were $723, $40, 795, against a
capital stock Of $22S, 677 ,0SS.
The statements regarding the amount
Of money in circulation in the United
States at various periods are equally
interesting. The amount in circulation
in 1900 is given at S4.99 for each person;
in 1910, $3.50; in 1920, S5.92; in 1880, $3.50;
in 1910, S10.S1; in 1850, $12.02; in 1860,
s13.85; in 1865 $20:57; in 1870, $3.50; in
1880, $19.41; in 1890, $2202, and in 1898,
s24.74
The statement in regard to gold pro-
duction and coinage shows that the
mines Of the United States produced
more gold in the year 1897 than in any
preceding year except those of the
great gold development of California in
1852 1853 and 1854. The gold produc-
ton of the United States in 1897 is
given at $57 1868, 900, while that of 1852
was 100000, 900; athat of 1853. s65, 600, 900,
and that of 1854, $50, 900. Colorado
is shown to have taken in 1897 first
place in the rank of gold production in
the states, her production in that year
being SIS, 104, 2G0, against s14, 300 by
California, while prior to that time
California had constantly stood at the
head of the column of gold producing
states.
The coinage of gold by the United
States minis in 1897 was $64, GA, S65,
which is nearly 80 per cent larger than
the average annual coinage since 1870.
The statements respecting the gold
production of the world show, by
periods, the amount of gold produced
in the world. Since the discovery of
America, the total value Of the gold
produced from 1892 to 1898 estimating
1897 at $40, 600, 00O) was S9,023, 320, 600
OF this amount s6.065, 097, 600 has been
produced since 1850, more than double
the sum of the preceding $50 years.