112 



$8,642,957 99.8 



The above Tables appear to support, as satisfactorily as could be 

 expected, the theory advanced in previous parts of this paper. The 

 discrepancies are noted, and accounted for as follows; 



The half dollars have been in demand, and coined slightly in ex- 

 cess, because there are a considerable number of Spanish American 

 quarters in circulation. 



The quarter dollars have been likewise coined in excess, because 

 an immense number of the old Spanish American reals (121- cent 

 pieces) are still in circulation ; and thus causing a less or reduced de- 

 mand for dimes. 



The half dimes fall very far short of the theoretic proportion, be- 

 cause large numbers of th ; Spanish half reals (6.^- cent pieces) are 

 still in circulation, and, al o, because the 3 cent pieces are consi- 

 derably in excess, and thus serving instead of the half dime. 



The largest deficiency is in the cent coinage. This is to be ex- 

 pected, because this coinage has been continued through a long series 

 of years, and the yearly coinage may be only sufficient to maintain 

 the necessary supply or stock in circulation. 



The results which have been thus far developed by this examina- 

 tion, appear to support the theory; at least there docs not appear to 

 be any discrepancy in the demands at the paying counter of the mint, 

 with the theory, that is not accounted for by the existence of foreign 



