The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-11-06
Money in Circulation.

Their were In circulation June 70. i>ts.
s57s[Z 10 In United States notes. sss.v'1,-
TO In treasury notes. $40. SO ~ IN SIT er
certificates. and 81 ~ ,06 IL national Aanh
notes on June D. 1889. the amounts We're:
United States notes. s3lo5f1,549; treasury
notes. 81 % - silver certificates, fFil-
e-e s4s and national bank notes, s237 .s32. "a.
The paper IN circulation was thus iAcceas-
ed during tae year by s43.S-a,5s AS re-
sUlt u these changes. The treasury 'ioia-
ings 81 government paper fell, between
the ,wo dates in the United states from
.9is&s ~ to tl5.27ss s7 IN treasury noses
from s2.54i,5U to ssi2.4ss. and In silver car
tlfcateA from s7,s7, ~ TO 81 2l6 ISL.
BY continuance OF the process or retir-
Ing treasury notes of Issl. redeemed in
standard silver dollars the ammoant OF
the. notes outstanding was reduced during
the gear from s!Ql. sc1.2s0 70 s93,5ls.Zso.
THE highest amount outstanding at the
close Of any month vas sl53. i53 80 in No
yember, 1855 As tire silver dollars paid
cut for these notes eiihsr remained in cir
culaiion or became the basis for the Issue
~ silver certificates, the process involves
no contraction II the currency. but only
a change OF form The reduction OF the
total - the paper held 10 TIE treasury
from $4i 514.13l 10 So i11 $40 was caused by
the payment - government obligations to
public creditors and hy the receipt Of
revenues In growing III assure In gold coin
Inc treasury VAS thus brought to the
minimum - paper currency required for
lis daily business.
small Notes and Coin.
As the volume og government paper is
reslrlctcd~thc United States notes by stat
ute and the treasury notes and silver GER
itfcstes by the oliver against which they
are issued-the treasury was obliged TO de-
cline requests for notes CT certificates ex-
cept Tor redemption or exchange In kind
\ i5Hai supply Of small notes Was pro-
vided and taey we're always sent out. In
kind. 81 redemption OF unfit currency. and
iu exchange for large denominations. Ev-
cry effort vas pat forth to meet the de-
mands - business. and these transactions
were Of very liberia proportions In con-
sequence there was ii notable Increase IN
paper OF denominations % s2o and under
The gold coin In circulation. all In these
denominations. steadily Increased from
sisS.T5i. a.. September 80 1895 70 s6is SCI = IN,
on the same day la tssa In the small
notes there was shrinkaKe Of $it 81 81
from 1853 to 1890, bat In tho next year there
wAs an Increase ~ 81 60 .o7 and from
lssie - 1924 the amount ran ~ to SIS, So, 456
During that year the Increase Of these
denominations OF both gold ana paper was
So. 5Ie1N9 The total addition - the paper
circulation In thu same period Has SOL.
SGD cal OF which s4ai14.22S was In th,, large
denominations. The addition % the gold
in circulation during the year was f23.
9ll.31S and this added to the increase II
the paper outstanding. makes total in
crease Of S125. - .0l4
subtreasury Dealings
Much Of the exchange II currency was
made by deposits with the assistant treas
uTer Ia New York paid fer by otter Off
GERS ana chiefly hv shipments 70 various
points from Washington The totals OF
the deposits made IN New York under this
Arrangement Wa Sc. AZ po. ans the total
shipments from Washington SIC - 40 The
rstt e the distributions were nst, from
chicago. 81. llanis AMI %ew Orleans
In The fiscal year isAS the ten treasury
ciires palf out sl0 81 lsa fl standard silver
dollars ana in 1884 <t2 13e. rs an Increase