Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-11-30
THE TREASURY GOLD
Largest Stock in the History Of the
Country.
PUBLIC'S PREFERENCE FOR PAPER
Notes Shipped in Large Amounts
Upon Metal Deposits.
INCREASE IN PRODUCTION

The largest stock of gold coin and bullion
ever held in the United States is
cumulated in the treasury and its branches.
The total has been rising steadily during
the whole of the present year and the
amount Is now s414. los. 1886 about $16,
oU,o00 greater than at the close of 1899.
1he increase UP to June 30 was about SD,
Ho.oo. but since that time has been about
Si'Hn,VS for July, $6O0Oo00 for August,
sl"WO,WO for September, s1S,oc0,otD for Oc-
tober and s11,G00,0OO thus far in November.
This gold is not all the direct property of
the United States, but is held against out
standing gold certificates. The amount of
these, less the amount in the treasury and
its branches, $3.50, 1JJ .S'F9 Wednesday.
All the remaining gold. amounting to about
s2l3,0Doo9, belongs to the treasury as Il
part of the reserve fund of SI50, 500, or
the free fund of s93,GN,0nn in the general
cash. This surplus of gold is in striking
contrast with the conditions OF a few years
ago. when the total gold he'd for all pur-
poses fell at the close of January, 1886 to
S9.'EE35I. and the net amount at the com
mand of the government beyond the sccur-
lty for gold certificates as only $40 SlJ-
"S The influx OF gold into the treasury
comes partly from the new gold from the
kiondike and other mines but its reten-
ton is due to the pressure for currency.
which leads to the acceptance of gold GER
ence to coin. The treasury has recently
been shipping small notes in large quanti
ties to New Orleans and other points upon
treasury by the New York reserve agents
of the southern banks.
National Bank Holdings.
The fact that $4Ti los 1886 is thus accum-
ulated n a sense under single authority
enables an estimate to be made of some of
the other visible gold resources of the coun-
try. The national banks reported gold
holdings on September ) of about s312,oIst.-
oJo, bu: s11j,h1s, 40 Of this amount was III
the golG certificates issued by the treasury.
The remainder of about s197 900. 00O, if add
ed 10 the visible gold in the treasury. makes
a total III these two classes of establish
meuts alone of about S6Io.a03.o This Is
more tran the entire estimated stock OF
god in the United States at the close O.
1875. fne amount then estimated to exist
was S597 1,2.4, and it was nor until Octo-
Der. 1886, when all fear of silver victory
had been dssipated, that the amount rose
20 about the amount now held in the banks
and treasury alone.
TIE gold supply of the country on the
last day OF 1886 was estimated at s692. .947.-
~ The estimated amount November L.
1900, was Sl0S0027, ,407, and 1t is probable
that the report for December l viii, show at
least eleven hundred millions OF dollars. II
S670.OOu,opO of this amount is visible III
TWO classes of establishments only S43O 900,
uO remain to be accounted for In state and
private banks, personal boards and actual
circulation. The amount outside the treas
ury anG the national banks at the c,ose OF
1895 was estimated to be about $3.50 OU0 900,
SO that the treasury estimate of the in
crease in private hands and In circulation
curing the past five years does not seem to
be excessive. The treasury officials are
confident that the round sum of $475 600 900
in treasury gold holdings will soon be at.
tanned. and that even s500.OOO, 600 is not
beyond reasonable expectation.
Increase In Gold Production
The annual gold production Of the world
has risen from nearly 300 900 in 1873 to
about 800 100000 in 1899, and a nearly equal
amount for the current year. When it is
considered that nearly uniform but
slightly increasing sum. amounting perhaps
in 1876 to s50.po0,000 per year, and in 1850
u St5,oOoo10, has to be deducted from the
total production to meet the demands of
the arts, it appears that the amount availa-
BILE for uses money is now four or five
times much in 1873. Hence the great
increase in gold money in god standard
countries within the last few years and the
apparent surplus available for the adoption
of the gold standard in other countries If
Sar.'Di.pD year was swallowed up by the
arts In each of the ten years from 1880 to
1880, while the total production for the ten
years estimated by the mint bureau
about 81 ,O6J U00OvD. only about SJilD-
pW,tOO was available during these ten wears
fDr addition to the worlds supply of money
From 1880 to 1862 however, with an allow
aEce of $50. OOD.0U for the arts and total
production of about S2.0O,(snUN about
81, ,V0O10 would remain for use as money
o. nearly three times the amount available
for this purpose during the earlier decade