Gilpin observer., 1900-11-15
UNCLE SAM'S VAULTS ARE
FULL TO OVERLOOKING

that June 80, 1890, the percentage of
United States notes was 22.5S. Two
years earlier It was as high as 32.0I.
While the volume of United States
notes, treasury notes and silver certifi-
Gates is limited by statutory provis-
ions, the stock of gold is constantly
growing. The metallic stock of money
is estimated for October /, 1900, ut
81, ,O50, ,2SS,S20 in gold, $566,355,367 in
silver dollars and bullion, and $500
600, 74S in fractional silver coin, an ag-
gregate of $1,I11 ,G44,935.
The inflow of gold in consequence of
the material conditions, prominent
among which is n favorable balance
years, will also cooperate with the
statute.
The amount of paper currency
stamped with the seal of the. depart
ment and prepared for issue. during
the year ended with September. 1900,
was $523, $4,000 against S362, 2,412,O 900
in the year preceding. The redemp-
tionS of worn material We're S3O3,2l9,-
S24 in the later period and $3.50, OF
$50 in the earlier. The increasing de-
mand for notes of small denominations
has been so heavy and so fully met by
the department, that taking into ac-
count the gold coin, only Sl26 6,045O22
of the estimated total circulation of
81, 13, ,294 ,9S3, October l, was i'll de-
nominations larger than $50.
The operations of the treasury and
its branches are conducted in increas-
ing ratio in gold the receipts of the tis-
cal year in that coin having increased
$641 ,OS0,0O1, and the disbursements
$3.50, ,642, 12S over 1899. There is an
increase in the circulation of standard
silver dollars in the autumn of each
year. followed by their return to the
treasury Il few month later. This is
an incident to the movement of the
crops and to the free delivery by the
treasury of such coins. The amount
in circulation November l was ST3,-
479,469.
The provisions made by Congress
for the increase of the subsidiary sill
yer coinage TO SlOOOOU.OOO have been
Il great convenience and the depart
ment, through the mint, has been able
to supply all demands for these coins
The amount of them in circulation,
which i'll January, 1870. was only $54
SOD ,202. 40, rose by October l, 1900, To
S19, ,432. 1914. The distribution of minor
coins from the offices of the treasury
and mine during the fiscal year
amounted 10 So,l if,3il, against Sl,-
926, ,9S3 the year before.
The act of April II, 1900, provides
for the substitution of United States
coins for the Spanish coins of Porto
Rico, estimated by experts at 5,92O,Ooc
pesos, at the rate of sixty per cent.
for each peso. The exchange was be-
gun May 1st, when the provision went
into effect and by August 10th 5,4IO,-
221 pesos had been received and paid
for in 81, 2S2, 40 of American money.
During the fiscal year there were de-
tected and destroyed at the offices of
the treasury $11, 146 in counterfeit sill
yer coins, notes and certificates, 3,22I
Scent pieces and 121,6o2 1-cent pieces.
Comparison with the previous year
shows no significant changes excepting
in the number of spurious minor coins
in circulation, which are rapidly on the
increase. Counterfeit gold coins are
rare, only thirteen having been in
spected at the treasury during the
year.