The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-11-01


ward Of rs 900 in gold. So. 100000 in silver
coin and nearly S16O00000 in notes and GER
tinCatcs. The circulation per capita was
$3.50 July /. 1860 SIS July l. 1901, and SzS.oz
Oct ]. 1901. Up 10 the last named date
from July 4. 1877. there was an increase OF
S46 130. ASS in the stock Of gold. which was
then estimated at s.. i6l. 800 40, ana OF TINS
there was SOS. us. 436 in circulation in the
form of coin or certificates. BY oct. 81 the
gold In the treasury. consisting OF the re-
serve, the security for certificates and the
sum IN the general fund, was $0iz,Szz s45'
the highest in the history OF the country
and more than was ever held under single
control elsewhere in the world, except once
for a few months The receipts IN new
York for customs are nearly all In gold
certificates, and balances between the
clearing house and subtreasury are settled
almost entirely in the same medium.
To the extent that gold ceruhcates. Whlch
are OF the denominations OF so and up
ward, have taken the place OF other large
paper, IL had been possible 70 supply SINAI
notes and certificates much more Freely
than formerly. II IS reasonable TO believe
that over 100000 Of paper Will, by inilu-
ences now at work. be changed from de-
nominations above SO 10 tnaI size OF
smaller. so that the annOyances which nave
heretofore arisen annually from the over
Whelming demand for small notes may be
expected % diminish. On oct. ] the total
amount Of outstanding paper money OF the
denominations OF SO and under were SsOO
III 921. The increase in those denOmina-
tions in the last four fiscal years was up
ward Of S166 G00. 600
Arrangements are completed. subject TO
generous action by Congress. for putting
out notes and certificates with the begin
ming OF the calendar year 1872, at the rate
Of 135Oo0.GoO pieces annually. IL Is hoped
that thus the currency will be we'll sea-
soned before il + issued.
The redemptiOns Of national bank NOES
were the heaviest ia twenty-five years,
amounting 10 s147 1851. an increase OF SO,
503.970 over 1900. The amount OF notes III
for circulation assorted and returned 10 the
banks OF issue was So Sos. rs. the largest
since 1879. Notes unfit for use amounting
10 81. AZ. 232 were delivered to the controller
OF the currency for destruction and reissue
end SIS 26 49, OF the notes Of banks whose
circulation IS being withdrawn were de-
livered for retirement.
In the first three months or the fiscal year
1892 national bank notes for S36 ,69l were
presented for redemption, an increase OF
S1o92,540 over the same months in 1901. The
redeemed notes amounted 10 S33,S3l ,S92. Oh
fresh cash deposits of S3.5l6S70 for the re-
tirement of national bank notes $3.50. $40
was used for that purpose. and the result
was an increase in the balance 10 the credit
of that fund of Sl9l .030. carrying the pal
ance Sept. 30 to sc. g55. 339. All notes are
paid for IL checks are requested on the DAY
they are received, and If currency is de-
sired. on the succeeding day
The shipment Of standard silver dollars
from the treasury amounted for the year
To SIS, 33S SO. and the amount outstand-
ing in December was s76.1S2, $50. but this
was reduced nearly 100000 by July In
consequence of the return of the coins tc
cent. greater in 1901 than I'm 1900 and there
was an increase in the first year OF $50.
over that of 1901. Standard dollars were
given for gold in New Orleans to help move
the crops, 10 the amount Of S2,20,0O0. anC
for deposits in New York they were shipped
TO Southern points for s.. 515. 700. The stand
ard dollars presented at the treasury IN
Washington for exchange We're 81 per cent
I'm excess of such transactions in the pre-
Ceding year
The shipments Of subsidiary silver coins
We're 6.94 per cent in excess Of those Of
1900, and the amount in circulation ad
Vanced S405,9J0 The shipments in the
first three months of 1902 recorded a further
increase of 6.42 per cent The redemp
tons In 1901 were 1873 per cent. more thar
the year before. but in the subsequent
months there was falling of.
The uncurrent coins transferred TO thu
lnints for recOinage were less in all kind.
than In the preceding year, which probably
Indicates an Improvement in the condition
OF the metallic circulation. Counterfeit sill
Yer coins and paper currency amounting
10 s11,5S3 We're detected during the year.
Porto ISican coins representing s, 699, %
pesos I'm silver and S34 122 in bronze hay,
been exchanged under the authorizing ac
into s.. 4O,220 in United States currency
The exchanges have now fallen to sucl
small proportions TO indicate that bu
Few or the old coins remain in circula ton
Up to July q, 1901. the collections on &C
count OF the Porto Rican tariff funC
amo united to S609, 935. on that date tn,
President set apart this fund for public anC
permanent improvements In the islands al
required by law. BY Oct. 1 additional col
lectlons of S52,6Sl were deposited in tn,
F. -fcS1
Since July I. 1900. the principal of the I'm
debtedness Of the Central Pacific RAILWAY
Company has been reduced in the sum o
A,lS9.94 by cash payments and transporta
ton furnished The balance of princips
remaining unpaid at the date of the las
transaction was $50. 969, $50. secured by frs
mortgage bonds for $50 SIC, 900 as collateral