Evening star., 1900-12-04

DhNeE uoiiafS lS,Z44SoA w
Subsidiary silver. 12,s7es4s Is
Mlnor. ACKNOWLEDGEMENTS. 2.243 017 q
TotaL.. .S141 ,3O1 $50 SO
There were coined $4,000 Lafayette SOU
venir silver dollars, which are not included
in the above coinage of silver dollars. The
silver dollars coined were from bullion pur-
chased under the act Of July IA. 1890. The
total coinage Of silver dollars from bullion
purchased under the act of July IA. 1890,
from August 13, 1880, to July 1, 1900. was
s115 $50 containing 80, ,04S. 7S5. Is standard
ounces, costing $50, ,963. 27O "a, giving a seign-
forage of s31, ,2S7 ,679O6.
In addition to the above coinage there
were manufactured al the mint at Phiadel-
phia for the government of Costa Rica 3d.
600 gold pieces of various denominations of
the value of 81, 500, ,05O24
Silver balances.
The balance of silver bullion on hand at
the mints and assay offices of the United
States for the coinage of silver dollars, sub
sdiary silver coins, and for payment of de-
posts Of silver bullion in fine bars, July 1,
1900, was:
Standard -".-
Items Cost.
Purchased under act
Of July Il. 1890. 3d. PCS o54. .O2 s67, ,so6 3ss q
coinage at miuts and
At United States
say office, New York,
for payment of de-
posits in fine bars. 127, 1876 SO II 24S 33
Total. SO, ,740, ESQ. .96 :6s, 224 $50 81
Including the balances on hand at the
mints July 1, 1873. the net seigniorage on
the coinage of silver from that date to
June 80. 1900, was $102 1912.
OF the minor coins manufacture during
the year $2,0S6. 1854 were from new ma
terial and $156,311.67 from old and uncur-
rent minor coins transferred from the treas
ury for recoinage
The total amount of minor coins outstand-
focr T,11yy
During the fiscal year there were manu-
factured gold bars of the value of $95, ,267,-
1902. and silver bars, S, $40 3O7. IA.
The bullion value Of the United States
the year was $0.4si26 and the lowest
$O.45141 and at the average price, S04tl19.
The commercial ratio OF gold to silver at
the average price was l to 34-A.
The net exports of gold during the fiscal
year were S3.ts3,575. against the net i'm
ports of $51 400 for the fiscal year 1889.
The net silver exports were $21 ,45o. .973 as
against s25.534,S17 for the previous fiscal
year.
The value of gold and silver consumed in
the industrial arts by the United States
during the calendar year 1899 was: Gold,
S17,Si71 IT'S; silver, coming value, S15, GIT ,663
"a total of $33 ,524 ,Si1
There were consumed in new material, in
the manufacture of bars, gold, $15, H. lG};
silver, s13,630,079.
The amount Of new material consumed in
the industrial arts in the world was: Gold,
ST. 800. and silver, coming value, $o2,-
500, 800.
The total metallic stock in the United
States on July /, 1900. was: Gold, 81 ,03i, 49,
264; silver S647, 81 ,03O.
The Financial Act of 1900.
A considerable portion Of Secretary Cages
report is devoted to the operations of the
new financial law.
Since the new law went into effect. and
+ba frop March II n Oc-
tober 81, 1900, the controller Of the cur
rency has approved 800 applications to or
ganize national banks, of which 3S2 were
for banks with capital of less than Soo'ooo'
and 121 with capital of $oooOO or more.
Eighty of the applications were from
state banks proposed to be converted under
the provisions of section olo4 OF the Re-
vised Statutes; 1T3 from state or private
banks proposed to liquioate for the pur,
pose of reorganization under the national
banking law, and 2j6 from those contem-
plating primary organizations.
Since october 81 1899, 1888 banks, with an
authorized capital of $50, .OOo. nave peen
chartered, of which 34S completed their or
ganizations between March IA and OCTOBER
81 1900 Sixtytwo of the banks organized
since March IA, with capital aggregatlns
$4.560,OO0, were conversions; l25, with cap
ital of $5,G05, 900 reorgan1zatlonS OF state
and private banks, and 163, with capital or
$731O,OOO, primary organization Two
hundred and forty-nine of the banks organ
1Zed since 11dTCn II were viii Seipilai "a
less than S5OOOO, the great majority being
with the minimum amount required, name
ly. $25 900. the aggregate capital being &c.
$4,000. and 80 with capital of $4,000 or
over, the aggregate capital for this class
being $40 100000. Bonds deposited by both
classes amount in the aggregate to $534S,-
2OO only about 30 per cent OF the maximum
which might be deposited.
The provision which authorizes the organ
ization of national banks with a minimum
capital of $2o, in places not exceeding
1900 in population, while formerly the
minimum was fixed by law at $4,000 for
capital In places not exceeding 5000 in
habitants has enabled many of the remoter
sections and smaller communities to secure
necessary banking facilities. The provision
thus made has been widely appreciated
The amount of outstanding circulation, by
denominations, on March II, the day prior
to the passage of the financial act, and on
October 81 1900, was as follows:
Denominations. March 49, October 81.
Ones nes.....,.......... $34S2I5 S347 552