FINANCES OF THE UNITED STATES. 



263 



largely increased, as will be seen by the follow- 

 ing statement showing the closing prices of the 

 principal bonds and stocks in New York City 

 on the first business days of the years 1880 and 

 1881: 



As a further indication of the great increase 

 of business and monetary transactions, the fol- 

 lowing table is presented, showing the average 

 daily exchanges in the New York Clearing- 

 House from 1874 to 1880 : 



CHARACTER OF INVESTMENT. 



UNITE!) STATES BONDS. 



6's, 1880, registered 



6's, 18SO, coupon , 



6's, 181, registered 



6's, 1881, coupon , 



5's, 1881, registered 



5's, 1881, coupon 



4*'s, 1891, registered 



4*'s, 1891, coupon 



A'S, 190T, registered 



4's, 1907, coupon 



6's, currency, 1895, registered 



6's " 1896, " 



6's, " 1897, " 



6's, " 1898, " 



6's. " 1899, " 



RAILROAD AND MISCELLANEOUS STOCKS. 



Central of New Jersey , 



Chicago, Burlington and Quincy 



Chicago, Milwaukee and St. Paul 



" " preferred . . 



Chicago and Northwestern 



preferred 



Chicago, Rock Island and Pacific 



Chicago, St. Paul and Minneapolis 



Delaware and Hudson Canal 



Delaware, Lackawanna and Western 



Hannibal and St. Joseph 



" tk " preferred 



Illinois Central 



Lake Shore 



Michigan Central 



Morris and Essex 



New York Central and Hudson River 



Northern Pacific 



Ohio and Mississippi , 



Pacific Mail 



Panama 



Union Pacific 



Western Union Telegraph , 



1881. 1880. 



101} 

 lOl* 



lOrti 



101* 



111* 



112 



H2f 



112* 



130 



131 



132 



183 



134 



86| 

 181 



as* 



140 

 183* 



48 



92* 

 110 



48$ 



102* 



io4* 



i 106; 



I 



! 108* 

 !x!03 

 ! 120* 



122 

 122* 



137* 

 76| 



101* 

 9.* 



lot;* 



149* 

 48* 

 76* 

 84* 

 344 



126 



121* 



155 

 34f 

 67| 

 3S| 

 51 



219* 



m* 



86f 



1C 

 90* 



102 



130* 

 33 

 57* 

 29* 

 88* 



170 

 85* 



103 



1874 .......... . 



1875 ................................... 75,301,558 



1876 ............ . 64,738,812 



1877 ..... . 68.447,724 



18.8 ........... . 65,106,974 



1879 ................................... 79,977,839 



1880 ................................... 121,510,224 



Since the resumption of specie payments 

 the office of the United States Assistant Treas- 

 urer at New York has been connected with 

 the Clearing-House Association in that city, 

 the rules of the Association being modified for 

 that purpose sufficiently to keep the operations 

 of the Government within the requirements of 

 law. For the year ending November 1, 1880, 

 the transactions between this office and the 

 Association were as follows : 



Exchanges received from the Clearing-Honse... $343,622,365 

 Exchanges delivered to the Clearing-House .... 73,193,328 



Balance? paid to the Clearing-House ........... 266,387,853 



Balances received from the Clearing-House ----- 958,819 



The largest amount in balance in any one 

 day was $11,208,025.20, and of this amount 

 $8.300,000, weighing about fifteen and a half 

 tons, was paid in gold coin. 



There has also been, during the year, a large 

 demand for gold coin, especially of the smaller 

 denominations, and the transactions of the 

 mint have been greater than those of any pre- 

 vious year. 



The following statement shows the value of 

 coinage, by denominations, at the mints of the 

 United States, for the last three years : 



The large increase in the monetary transac- 

 tions, as already stated, is an index of the great 

 revival of business in all its diversified forms 

 throughout the United States. During the year 

 labor has been employed at remunerative rates; 

 mills and factories have been run over time to 

 meet the demand for their products ; railroads 

 have had an abundance of carrying-trade ; and 



there seems to be no reason to anticipate any 

 diminution of this prosperity, unprecedented 

 in the history of the country. Of course, a 

 failure in the agricultural products of the coun- 

 try for a few years would greatly disturb ex- 

 changes and draw upon the accumulated re- 

 sources of the people to meet current expendi- 

 tures; but the country is so large, embracing 



