The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-09-20
HISTORY OF A CENTURY
Banking, Currency, Coinage and
Production of Precious Metals.

| VI n CCAOUS hCLdESs
Washington, Sept 19.-The banking, cur
rency, 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 bureau of statistics as a part
of the July summary of commerce and
finance
These tables, covering more than one
hundred pages of this unusually large vol
ume 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 brief statement of the banking
and currency conditions and gold and sill
yer production in other parts of the
world
An examination of these figures cover
ing the banking and currency history of
the country brings to the surface some
interesting facts. The earliest figures are
those of IVA which give the specie at that
date at $40O0,000. The same statement
puts the specie in 1854 at S1O,OOO,OO0 the
number of banks three, with a capital of
s., 100000 and a circulation of 1900, O0O By
1197 the number of banks had increased
20 twenty-five the capital to $19, 200, 900, the
bank circulation TO $40, O0O, 0O0 and the spe-
Gle to $14,OOO.O00
The story OF the century 1797-1S97 is told
very fully in the elaborate series of tables
both as to banks and their currency, and
gold and silver production and coinage.
The number of banks in 1897 was q, in
1877. 9,457. The capital in 1877 was s19,-
i,,I
culation in 1897 was $4,000. 900, in 1897 $685.
920,670. The deposits in the First Bank
of the United States in 1909, the earliest
date at which reports of bank deposits
are obtainabe amounted to s., 500, 900; the
individual deposits reported by the 9. 457
banks in 1897 amounted to s.. 1913. 755, SO7. of
which 81, 939, $40 035 were classed as savings
deposits.
banks prior to the war is shown to have
been very rapid, the number in 1880 being
329; in 1S40 al; in 1850, 500; in 1860, /. 562
The decrease from 1860 was equally rapid
the number Of state banks in 1863 being
1023; in 1864. 349 and in 1868, 247, wh!ie
the number of national banks organized
in 1863. 1864 and 1860 was sol. State
banks again increased in 1T mbers aft -
975; in 1883, 1,403; in 1890, 21O1 in 1894, 1856,
and in 1897 the number, including 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 1929, $40. 795,
against a capital stock of SOS 677.0SS.
The statements regarding the amount Of
money in circulation in the United States
at various periods are equally interest
ing. The amount 3n circulation in 1890
is given at S4.99 per capita; in 1910, $3.50;
in 1920. .96: in 1890, $3.50; in 1910, sf0s1;
in 1850, Sl202; in 1860 s13.S5: in 1865. s2157:
in $50 $3.50; in 1880, S19.4l; in 1880 So 50.
and in lS9S, S24.74. The statement regard
ing gold production and coinage in the
United States and in the world shows
that the mines Of the United States pro
duced more gold in the year 1887 than in
any preceding year except those of the
great gold developments OF California
lS52-3-4. The sold production Of the United
States in 1891 is given at S5lS63o0O. while
that OF 1872 was So. OK, oo5 that Of 1858
So 600 900, and that OF 1854. $50 81. 900. Col
o-ado is shown 70 have taken IN 1897 first
place in the rank OF gold producing states,
her production in that year being *le.-
10000. against S146ls.550 by California:
while prior TO that time. California had
constantly stood at the head % the col
umn Of gold-produc;ng states.
The coinage OF gold by the United
States minis in 1897 was 81 s34 SIS, which
IS nearly . per cent greater than the
average annual coinage since $50.
The statements covering the gold pro-
duct-on OF the I'D are also especially
interesting. The, show By stated periods
the amount Of gold produced in the world
since the discovery OF America TIE total
value OF The gold produced frolI I4s- to
lSsS estimating lss5 AZ S2+o.o09oos, being
S9os2 s1051o, % winch amount Ss.1s5. os7. 500
has neen produced since 1850, ire pToduc;
Of the las- aalf century thus being double
that % the prece,5inE 80 years.