New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-12-07

ages about two-tenths OF per cent Of the amount
Nstona bank notes to the amount of saos 2sS $50
were presented for redemption aIllas aou4t Of
notes outstanding. The expenses incurred were
All the rate Of 50 998-1Goo cents per Sco OF their
n9Hfs s Geposits in national banks to the credit of
the general fund at the beginning OF the year %egc
TeTen1les in the early part of the year soon made
it apparent that the cash N the IIeasu!y vAI-s
Scnce Calls were therefore issued Withdrawing
IPom me 6eG by them and the BALANCE therein
the credit of the general fund at the close OF me
of pubic funds from the banks was accomplished
without disturbance TO business, 49,. aorost
tory banks released a considerable amount OF Coy
as a basis for Increasing their circulation The
bonds pledged to secure BANK cIcuiaIoh laEg IN
pledged to secure public deposits have decreased
During the year sos 7sS was added to the money
in circulation The per capita eirsulation adyanced
1904; then declined $50 SO April l. 1905. and at
R ef9ber s Ra ota oBeg IN S
had advanced TO 1924 3sl: per capita eircula-
ton of 81 49, as per cent of which was gold. .,
To maintain the present per capa crcgia6q@ sne
sary to add about $5ooO0eeo TO the monetary STOCK
The gold in the Treasury. including the reserve
and trust funds on October o. 1905, amounted TO
$7S9 SOS 600 Sc, sum never equalled IN our l
nor mas any 9 23eal
The demand for small denominations of currency
volume of United States paper currency OF the de,
nominations of $40 and under has increased
S167 32I since March 1900 but only Sl462950 OF
this increase took place during the last fscal year
Bills of denomination of $50 and over have been
redeemed and reissued in the smaller denominations
in effort to respond to the demands Tor SInall
notes The limit has practically been reacheq IN
making changes in the denominations OUTSTANDING
through the process of redemption and reissue IN
future the redemption of outstanding large Chited
States notes and silver certificates Will be TOO SLOW
meet the call for small bills.
During the year the usual facilities have been eN-
tended to aid in the movement of the crops; me
deposits for transfer in the New-fork ana Chlcago
sub-trea sures $50G931S4 for which payments
by telegraph were made at other points IN the de-
nominations required TO meet the demands OF o Inc
locality in which the funds were TO be used Here
tofore the Treasury has been able TO keep up this
exchange by vigilance and forethought in the
preparation Of currency for the anticipated needs
If these accommodations are to be continued some
action must be taken by Congress to enlarge
the volume of small notes.
The moneys received in the redemption and ez-
change account during the fiscal year 1905 amounted
81 1913. and equal TO "A cent or the
money in circulation at the close Of the year.
The silver dollars in circulation on June 80 1898,
were S5S 966 The amount of this coin distributed
at government expense for transportation from
July 1895 June 80 1895. S275536,5l2 but the
amount in circulation the latter date was only
So, 5S43 1856. . .- -. 90
Subsidiary silver coin TO the amount Of 21el6,1S5
was distributed to depOSitOrs during the last fiscal
wear The average rate for transportation on snip
ments Of silver coin during the year was 81 % per
$1,000.