758 



UNITED STATES FINANCES. 



40,689,998 pieces, having a value of $6,659,812, 

 and 61,582,474 minor coins having a value of 

 $1,296,710. The most important operation of 

 the mint has been the purchase of 4, 500,000 ounces 

 of silver bullion per month, under the act of July 

 14, 1890, aggregating 54,355,748 fine ounces, at 

 a cost of $51,106,608, or an average cost of $0.94 

 per fine ounce. For this purchase legal tender 

 certificates were issued in payment. 



Condition of the Treasury. During the last 

 calendar year the available balance in the Treas- 

 ury has been reduced $5/481,540. Outside of the 

 general balance the Treasury carries as a public 

 depository a large amount of funds for various 

 public purposes mainly as a reserve for paper 

 circulation. Of its aggregate holdings there was 

 an increase during the year of $12,480,5oO. The 

 principal item of increase was that of silver dol- 

 lars and bullion, $48,611,020 ; of decrease, that of 

 gold coin and bullion, $40,486,949. The balances 

 held by National bank depositories have been re- 

 duced $4,145,028, and the fractional silver coins 

 on hand $3,217,844. The items are as follows: 



National Banks. There was a net increase of 

 94 National banks within the last fiscal year, 

 involving a net increase of $9,112,800 capital, 

 and of $11,932,650 bonds deposited for circula- 

 tion. Of the 163 newly organized banks 22 were 

 located in Texas, 13 in Iowa, 12 in Indiana, 11 

 in Ohio, 10 in Pennsylvania, and the remainder 



distributed throughout the country. The notes 

 outstanding on Sept, 30. 1892, were $172,786,- 

 760, of which $25,595,167 were secured by law- 

 ful money deposited with the Treasurer of the 

 United States to meet their payment on presen- 

 tation. For the remainder the Treasurer holds 

 United States bonds as collateral security. Dur- 

 ing the year ending Dec. 31, 1892, there was a 

 net increase of $2,219,966 of notes outstanding. 

 The condition of the banks is as follows : 



As the policy of withdrawing the national tax 

 on the circulation of State banks has attracted 

 some attention, the following summary is shown 

 of the number, capital, and deposits of such banks 

 in 1882 and 1892, arranged by geographical divi- 

 sions. It will be seen that while the number and 

 capital of such banks in the Eastern States have 

 largely' diminished, there has been a great in- 

 crease throughout the South and West. 



