The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-11
Guiding the recoinase. in 1925. was: Gold.

GLIDING the recoinage. in 1925. was: Gold.
1895. 4I7,e0i. silver, $l4e, 2s2.a35.
The government has now practically no bull
lion available for the coinage OF SUBSIDIARY
| currency. IL has bullion purchased for the
| coinage of silver dollars, but this can not
needs OF the country for fractional currency
| are increasing and executive authority for
new coinage Is imperatiyeiy demanded.
| Continuing. the report says: I'm the report
OF this bureau year ago an ofcrt was made
70 tabulate the principal stocks OF gold held
| Tor monetary use In the world at the close
OF the years 1892 and 1897. This table, cor
| reotcd by the transfer from additional banks
and elimination of some errors. shows the
stocks OF gold in sight In Europe have in
creased by about so per cent from December
ter date TO December 81. 1898, the stocks in
stead OF continuing to increase showed n dim
mutton AT the nrst thought the reduction
Is lkely 70 cause surprise for with enormous
sold productions for the year amounting to
S2sIWNO0Q, the stocks OF that metal might ha
expected TO everywhere augment, When ~ Is
SAID. however, that the United States took
above s2oo,ooo,t10 Of gold IN 1895 and that In
dias net imports were over $4,000. Oy0. and
that the industrial consumption OF the world
was Se5.N0.0 COO. 1t will be understood that no
general Increase In European stocks could
occur last year. But IL stilj remains to be
explained where the disappearing gold OF Eu-
,Sepe vent TO- The total reduction shown by
the table above is $3.50 600, 600 and the Russian
stocks shows reduction Of s6S. 900 900, But
ne witt. the Russian minster OF finance.
states IN his annual report from the budget
,hat during the wear 1925 there has been an
increase in the amount OF eold.'"
rho reduction shown in the stock Of the
imperial bank has been brought about by
the monetary reform. The enormous stock
In the bank at the close of 1897 was pro-
yidod for the purpose OF bringing the paper
currency OF the country to par with gold and
establishing its misunderstanding During
the past year the bank has been paying out
gold freely and gold coin. long absent from
the circulation Of the empire, has again en-
tered into common use.
The Bank OF England and Imperial hank
or Germany both show loss of gold during
the year, but the record OF exports and I'M
norts OF Great Britain and Germany show
tHat each OF those countries received about
NpVuoVvo moro gold than IL parted with |
trade WAS very active In both countries and |
apparently drew on the reserve stocks Of the
tMo Leading banking institutions. The money |
STOCK OF those countries was in larger de- !
gree than the year previous In movement |
among the people and in the local banks 1t !
Is OF especial interest that the stock OF UNI /
covered bank notes In Germany was S2i 900, 600 |
greater on December -, 1895, than on be- /
eemher 81. 1891 and was s56. 00o 000 greater in !
enables the monetary systems of those coun-
tries TO ease off such an extraordinary do
mand for. gold as the United States made on
the wor9 last year. The Austro. Hungarian
bank had sl70oo,c00 mora Of uncovered paper
out at the end OF the year than at the be-
ginnins. The three countries had s7S,oOo,oo0
before fact which doubtless contributed
much to ease the financial situation
no ability TO thus enlarge the stock OF
paper currency is valuable to n country in |
the event of any sudden call upon il for
heaVy payments In gold The issue acts as n
, between such demand ana the COM
me latter from sudden and sharp pressure
u Is legitimate use Of credit by the coun-
Try through the agency of banks of Issue, to
meet passing demand
, Tho most notable change In gold stocts
during tho year was In the United States
me me, stock OF coin in tho country, including
at s7i5,2 .953 and on January l.
1872 AT %i5. 1913 ,70S, gain of 5000, 652 s35.
The gan appears in the following items;
Stocks. January l. 1898. s745. s45, o53: net i'm
PORTS OF United States coin s33 0s2 us: coin
age during the year. S779s5,75s; gam In hui
lion in mnts. s9i.l7o, 1870; total, 1851, OS4 $50.
unitod States coin remelted at minis, 81, $780,
III; taken by paymaster to Cuba, Porto Rico
and the Philippines, 80 Asa, $50; united man
4fa c,ures slSoo 900; total S92Seo7l Stock.
stock shown by the above statement, Sl5s-
6S2 $40 appears in the reports of National
banks and the government treasury. The
holdings of the former must be taken from
December H. 1897, and December |, 1898, their
nearest statements to January | being on
these dates. They show holdings as below:
tonal banks. December 10. 1897. sis7 COS .6ii;
total, sSs5. 316 7Sd. Treasury, January /, 1890,
ISIS aaqo ota G SEE 5 Rse'@ asn Ii
treasury and National banks s59, $3.50 $40.
The difference between these aud the aggre-
gate gain estimated for the country. s40.T9,-
800. is considered to have gone into State aud
private banks aud circulation,
Tho production of gold In all of the i'm
portant gold fields OF the world Is increasing
rapidly and with prospects OF continued gains
Tor years 10 come, The yield IN the world
IN the calendar year 1898 was 1887. 900 900.
against 1888 600 00o In 1887 The production In :
Australia to date In 1899 has shown n gain OF
. per cent over the corresponding months of
SOS, which indicates n probable gain for the =
ul year of siG,000000. The United States, +
canada and Mexico will doubtless increase ,
heir products slS,0000 600. In South Africa the ,
reduction in the FIRST half OF the year was y
. per cent above the yield of the same =
months in 1898 and II the industry had been
ndisturbed the gain for the year would prob .
bly, have been above $50 100000 As all these ,
rincipal districts are In condition to produce I
a higher rate than az the opening of the
resent year and all are Preparing for larger r
leids, It is not improbable than when opera I
IONS are fully resumed in South Africa the q
'orld's output viii quickly pass $500. 900 900 &
er annum. The worlds stock of coin is now I
cling Increased more rapidly aud by a higher 5
nnual percentage 10 the existing stock than 1
uring the period from 1859 10 1860 when the ]
nlput OF gold from California and Australia
tarued the economists of all countries and (
aye the world dopreclating standard OF !
alue, The effect of this new flood of standard {
loney upon the markets. the industries. the 1
arnings OF those who work for wages and all
the varied relations Of the people In our
resent highly organized society Will be A
lost Interesting study 1t will neyitably he
potent factor in our affairs
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