New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-11-04

oi the greater strength Of the circulation The
aoollon IN the last fiscal year was SCI 9S6 ia
Inc increase IN the future can hardly be less
man $VoOO0.OO0 TO $6OOOOOoO a year. The
l,ll i me report says. thus confirming the
STU STANDARD steadily and inVincibly and il
euus' for the immediate present and doubtless
iof a Few years at least the inflow of gold Will
be IN such large measure as 10 lift the volume
-. currency TO the highest level of all needs of
business. Our currency keeps more than equal
pace with the population"
On June - the gold certificates ours+and,,o
LOT the hrst time exceeded in volume the United
,,oatSS hotes. and were $347. 179.0S9. By No
'eInoer they were 1867 O1S 500
Inc gold in the Treasury keeps in active cir
ouIaion as currency the certificates issued
talIst H. and, moreover. 1916 6S1 OlS in United
-, oes notes and S3O,OOO.OOO in Treasury notes
OF over $l4o,OO0.0o0 more than its own value
question may we'll be considered whether
the Cnlted States notes NAV not properlv. he
turned by Congress into gold certificates Tho
nave much that quality already and the change
en- LII oe gradually made as the supply of the
SS oruM metal takes on greater proportions. The
oniSaIlus OF the people for notes Of small de-
S Snttnatlons have surprised the closest students
u the currency. In 1890. 81. 065 $50 pieces of
eatue or 80 81. In 1902 the issue was SIG COZ
80 80 ana the average value 81. The facilities
IL PIouuctlon have often been increased and
noW seem to be sufficient for present REQUIRE
ine,on me currency distributed from Wash
H HlsLoh 10 the sub-treasuries and banks in the
9 eSG year amounted to 1887 $40 SS5 against
Q"i'''l-'l't in the year preceding.
MAINTAINING PARITY OF MONEY.
Inc act Of March II. 1900 makes it the duty
OF the Secretary of the Treasury to maintain
Inc parity of value of all forms Of money issued
OF coined by the United States with the gold
STANDARD defined and fixed by that law. This
49, mas oeen and is now easily maintained
lt an hlnds OF government money are ex-
cnangeable with each other
~ ILloW OF gold, permitting the free jssua
~ 500 certlfcateS Of $50 and upward is the KEY,
- ;,t ts maintenance OF parity and interchange
.Diiity OF an kinds of government money ON
i IN otneT hahd small denominations including
alIHgI com are constantly In demand for the
MYRIAD transactions of retail trade and the chr
-c4Il uses OF rural communities as well as for
IdyiO OILS IN furnaces, factories and harvest
neIus. ne treasury in recent years the re-
poIt continues. has heard much more clamor for
ouhdantly able to meet all calls for every kind
OF money for its own obligations for redemption
ana for legitimate transfers.
AS result Of the movements which have
! oeen noted, government paper currency is gain
ing IN simplicity Gradually all large denomina-
smallest silver certificates while in time all
tens VIII be United States notes
Ihere was net increase IN the fiscal year Of
300 banks. 43I charters having been granted
ana 90 surrendered. The total number OF banks
chartered 10 June 30 1902. was 6325 Of which
4o4o were in operation and 10 out of ex-
istence
There was unusual activity in the movement
OF silver and minor coin 10 and from the Treas
ury. The shipments of silver dollars reached
S4o,4O4'325. exceeding all former records. and
the returns for exchange were So 10 $50 greater
than the issues
The amount Of subsidiary coin outstanding
was increased by S3.114.S52 to SS2,S14940
There was a marked falling off in the amount
OF spurious coin and paper money presented.