The times., 1898-09-19
FINANCES OF A CENTURY
Picture of the Growth of Bank
ing and Currency.
! NOTABLE COMPILATION
The Bureau OF Statistics Prepares "a
Table Showing the Progress and
Development of Gold Production,
Together With Other American
Money Market Features.

The banking. currency, coinage and
production of precious metals In the
United States during, the past century are
presented in great detail by series of
tables just issued by the Treasury Bu-
reau of Statistics as part of the July
summary of commerce and fiuance.
These tables, covering more than one
hundred pages of this unusually large
volume, present a very complete picture
of the growth of the banking system and
of the currency, both metallic and paper,
and to this is added for comparative pur-
poses a brief statement Of the banking
and currency conditions and :,oid aud sill
yer production In other parts of the
world.
An examination of these figures brings
to the surface some interesting facts.
The earliest figures are those of l77i,
which give the specie at that date at ST.
900. The same statement puts specie
in 1874 at s10.O00,000. number of banks
three with a capital Of 81, 100000. and a
circulation of s2.000.000
By 1877 the number of banks had in
creased TO twenty-five. the capital to sIs.-
200 600, the bank circulation to $40, 900 900,
and the specie to s1fOoO 900.
The story of the century 1797-1S97 is told
very fully in the elaborate series of ta-
bles, both as to banks and their Currency,
and gold and silver production and coin
age.
The number of banks in 1897 was 25; in
1897. 9457 The capital In 1897 was sl9, 2o0.-
coo: in 1897 s., ,GgT, 1873 $50. The bank circula-
ton in 1897 was SO 900 900; in 1897. Sl9S, ,920
GO.
The deposits in the first bank of the
United States. in LEO, the earliest date at
which reports of bank deposits are Oh
tainable. amounted to Ss.500000. the indi-
vidual deposits reported by the s.i57 banks
in 1897 amounted to s., 1873. 755 .S0T. of which
| 81, ,s39. .3i60 0S5 were classed as savings de-
posits.
The increase in the number of State
banks prior to the war is shown TO have
been very rapid the number In 1880 being
329; in 1870, TAI: in 1850. 500; in 1850, 1562.
The decrease from 1860 was equally rapid,
the number of State banks in 1868 being
1.G23; In 1864, 349. and In 1855. 247, while the
number OF national banks organized in
1863. 1864 and 1865 was I.6Dl.
State banks again increased in numbers
after 1868. the number in 1872 being 566
in 1885, 9I5: in 1883, l403: in 1890, 2101: in
1894, 3,0sb anu IN 1881 IDe NUMBER,
ing private banks Is reported at 3,S73
Prior to 1860 the deposits in State banks
amounted to but 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 s723. so. 795. against a capital stock of
S22s. ca, ,0Ss.
The statements regarding the amount
of money in circulation in the United
| States at various periods are equally in
teresting The amount in circulation In
| 1900 is given at s49s per capita: in 1910.
$780, in 1870, 1896: in 1880. $3.50; in 1s40.
slOs5: in 1850. s12O2: in 1850, $1ss0; in 1866.
s2057: in 1870, $3.50; I'm 1880 sl9.41 in 1890,
s22S2 and in 1898, $24.74-
The statements regarding the gold pro-
duction and coinage in the United States
and in the world 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 de-
| velopments of CaIifornia-lS52- 81
The gold production in the United
| States in 1897 is given at s57 $4,000, while
| that of 1852 was $4,000 coo; that of 1853.
s65 600. 600, and that of 1854. $50. 10000.
Colorado is shown 10 have taken in 1897
! first place in the rank OF gold-producing
| States. her production in that year being
| s1sl0i,2OO, against s1f6lS. 800 by California
while prior TO that time California had
| constantly stood at the head of the col
umn of goId-producing States
| The coinage of gold by the United
| States mints in 1897 was s6i 63i $50 which
| is nearly 50 per cent greater than the
| average annual coinage since 1870
The statements covering the gold pro-
| duction of the world are also especially
| interesting. They show by stated per-
| iods the amount of gold produced in the
| world since the discovery OF America.
| The total vare Of the gold produced from
| 1892 TO 1898 estimating 1897 at $40 900, ,o00)
| is stated at 50, ,023 800 500 of which amount
| Sc. 6.065. O97. 600 has been produced since 1850.
| the product of the last half century be-
| ing double that of the preceding $50 years.