The Holly chieftain., 1900-11-16

, that June 30. 1890, the percentage Of
United States notes was 22.5S. Two
years earlier 1t was as high rs 32-O1-
While the volume Of United States
notes. treasury notes and silver certifi-
Gates ID limited BY statutory provis-
ions, the stock OF gold Is constantly
growing. The metallic stock Of money.
is estimated for October 1, 1900, at
81 ,069, ,2SS, $50 In gold. e606, 6,H63B7 in
silver dollars and bullion, and t8O0-
600, 74S In fractional silver coin, an az
gregate of $1.711.G44, ,9S5.
The inflow Of gold In Consequence Of
the material conditions, prominent
among which Is a favorable balance
averaging $JGr3, ,2S3 300 in the last three
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, 192, 900 against 1862 412.O0O
In the year preceding. The redemp-
i tIons of worn material were $303. .210.-
824 In the later period and $255.027.-
$50 In the earlier. The increasing DE-
mand for notes Of small denominations
has been so heavy and no fully met by
the department. that taking into ac-
count the gold coin. only 1926 O45.G.,2,
of the estimated total circulation Of
S2,113. .294, 1888. October 1. was in 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 fis-
cal year in that coin having increased
$641 ,OsOOO1, 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 few month later. This Is
an incident to the movement Of tn.
crops and to the free delivery by the
treasury of such coins. The amount
in circulation November l was $I3.-
479, 400.
The provisions made by Congress
for the increase of the subsidiary sill
yer coinage to $1O0,OOO.OOO have been
great convenience and the depart
ment, through the mint, has been able
to supply ell demands for these coins.
The amount of them in circulation.
which in January, 1880, was only $54.
So, ,2O2, no. rose by October l, 1900. TO
$19. .432, 194. The distribution Of minor
COILS ITOLl tne OIHCeS VI tuc uSAhuTy
and mine during the fiscal year
amounted to $3,17I,971. against $1,-
9269 1888 the year before.
The act Of April 12, 1900. provides
for the. substitution of United States
coins for the Spanish coins Of Porto
Rico, estimated by experts at 5,92O,0O0
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 5.47O,-
227 pesos had been received and paid
for In q, 282, 40 OF American money.
During the fiscal year there were de-
tected and destroyed at the odtces Of
the treasury 81, LAG in counterfeit sil-
yer coins. notes and certificates, 3.227
5cent pieces and 121,852 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.