FINANCES OF THE UNITED STATES. 



should be; 3. Into the policy of continuing legal- 

 teiidrr unto concurrently with the metallic htund- 

 iinU. mul t lie effects thereof upon the labor, iiulus- 

 trio, und wealth of the country; and, 4. Into the 

 hr-t iiii-uiis tor providing for facilitating the resunip- 

 tfii <>f specie payments. And aid commisHiou is 

 authorized to employ a stenographer, and shall re- 

 port on or before the 15th day of January, 1877, with 

 tin- evidence taken by them, and Much recommenda- 

 tion* fur legislation as they may deem proper. 



The congressional members of the commis- 

 sion were Senators Boutwell, Bogy, and Jones, 

 with Representatives Ball, Bland, and Gib- 

 son. 



The range of prices in New York for Gov- 

 ernment securities for the year 1876, and the 

 amount of each clans of bonds outstanding 

 January 1, 1877, were as follows: 



The range of United States bonds in London during 1876 was as follows: 



The range of prices during 1876 of the most active stocks sold at the New York Stock Ex- 

 change is shown in the following table : 



The highest price of gold was 115 on March 

 14th, and thence it gradually fell off, and on 

 December 30th sold down to 106j|, which 

 was the lowest point since 1862, excepting the 

 temporary decline in the panic of 1878. 



From the circular of Messrs. Dunn, Barlow 

 & Co. it appears that the aggregate liabilities 

 of the insolvent firms are reported for last year 



at $191,000,000, against $201, 000,000 for 1875, 

 $155,000,000 for 1874, $228,000,000 for 1878, 

 $121,000,000 in 1872, $207,000,000 in 1861, and 

 $291,000,000 in 1857. During the four years 

 just expired, the liabilities involved in the mer- 

 cantile failures of this country have amounted 

 to $777,000,000, which is rather more than the 

 average annual increase in the material wealth. 



