Deposits, redemptions, and transfers and repayments on account of the retirement of circulation, by fiscal years, from 1900.

Expenses incurred in the redemption of National and Federal Reserve currency, by fiscal years, from 1900.

General cash account of the National Bank Redemption Agency for the fiscal year 1921 and from July 1, 1874.

Average amount of National-bank notes outstanding and the redemption, by fiscal years, from 1875 (the first year of the agency).

Federal Reserve notes, cancelled and uncancelled, forwarded by Federal Reserve banks and branches, counted and delivered to the Comptroller of the Currency for credit of Federal Reserve agents.

The Office of the Treasurer of the United States also publishes monthly a statement of the paper currency of each denomination outstanding on the last day of the month.

BUREAU OF THE MINT.

The Act approved February 12, 1873, “established in the Treasury Department a Bureau of the Mint, embracing in its organization and under its control all mints for the manufacture of coin, and all assay offices for the stamping of bars, which are now, or which may be hereafter, authorized by law."

The annual appropriation for contingent expenses of the Bureau of the Mint, contained in the legislative, executive, and judicial act, provides for "collection of statistics relative to the annual production and consumption of the precious metals in the United States." Section 25 of the Tariff Act of August 27, 1894, provides that * the values of the standard coins in circulation of the various nations of the world shall be estimated quarterly by the Director of the Mint, and be proclaimed by the Secretary of the Treasury

* * *99

Statistical Statements.

The following statistical tables appear in each annual report of the Director of the Mint:

Deposits and purchases of gold and of silver during the year, classified as to source and description of metal, by mints and assay offices.

Deposits of gold and of silver at United States mints and assay offices by fiscal years since 1873 and 1885, respectively, classified as to the character of the product received, as domestic bullion; domestic coin; foreign bullion; foreign coin; and surplus bullion, grains, jewelers' bars, old plate, etc.

Gold and silver furnished for use in manufactures and the arts and classifica

tion of the materials used, by calendar years since 1880.

Average commercial ratio of silver to gold for each calendar year since 1687.

Coinage of gold and silver in the United States, by weight and value, by fiscal years since 1873.

Coinage of the mints of the United States from their organization, by calen

dar years.

Combined coinage of the mints of the United States, by denominations and calendar years, since their organization.

Monetary stock of gold in the United States since 1873.

Imports and exports of United States gold coin, by fiscal years, since 1870.

Production of gold and silver in the United States.

Consumption of gold and silver in the United States.

Production of gold and silver in the world.

Coinage of the various countries of the world.

Stocks of money in the various countries of the world.

DOMESTIC PRODUCTION AND DISPOSITION OF GOLD AND SILVER.

A tentative estimate of the production of gold and silver in the United States, is prepared by the Bureau of the Mint, based on bullion deposits in United States mints and assay offices and on returns from private refineries, smelters, and other reduction works. Quarterly reports are received from all mints and assay offices showing (a) the quantities and values of deposits and purchases of unrefined domestic gold and silver, listed under the States or Territories in which it was originally produced, and (b) the domestic gold and silver in fine bars purchased from private refineries, listed under the names of the concerns from which it was received. Yearly reports are received from private refineries showing (a) the quantities of gold and silver receipts, classified as to source, either by States or by the names of the mills, smelting works, or refineries; (b) the disposition of the product to mints and assay offices, to other smelters and refiners, to manufacturers and dealers for use in the industrial arts, and (c) the quantity of the stock remaining on hand.

The figures used in the tentative estimate of the Bureau of the Mint are thus based on the disposition of the product rather than upon actual mine production. The Geological Survey, however, simultaneously compiles a similar statement based on the recoverable content of mine output. The information required for this tabulation is obtained from actual investigation of the mine production of gold and silver ore during the year. The systems employed by the two offices in determining the production of gold and silver for the year do not, of course, produce identical results, but when taken over a period of years sufficiently extended to compensate for overlap or lag, the results agree within reasonable limits. Practically all of the gold produced in this country eventually is disposed of to the Government, and thus becomes a matter of record in mints and assay offices. For the period from 1905 to 1916, for example, there was an average variation of only 0.6 per cent between the totals

reported under the two systems. The figures collected by the two offices afford the basis for the official estimate of the annual production of gold and silver in the United States, which is agreed upon after conference and adjustment between the two bureaus, and published in the Annual Report of the Director of the Mint.

VALUE OF FOREIGN COINS, AND FOREIGN AND WORLD MONETARY STATISTICS.

An estimate of the value of the metal content of foreign coins is prepared quarterly by the Bureau of the Mint, and the Secretary of the Treasury issues a quarterly circular, based upon this estimate, prescribing the values of such coins in the money of the United States. This circular is followed in determining the value of foreign merchandise imported into the United States, also for many other objects involving foreign moneys. The estimates of the Bureau of the Mint are based upon the legal weights of the foreign coins, obtained usually through diplomatic channels as a result of annual interrogatories; and in the case of silver coins (since silver metal fluctuates in value as compared with gold) on the quarterly averages of daily silver market quotations received through the New York Assay Office.

The statistics of foreign governments relating to the production, import, and export of gold and silver, and to coinage and stocks of money, are obtained, so far as practicable, as a result of the annual interrogatories forwarded to diplomatic representatives of the United States through the State Department, the replies thereto being made directly to the Bureau of the Mint. The information obtained shows, in part, the basic monetary standards of the different countries of the world, the units, multiples, and divisions of their coinage, etc. Conversion of these quantities, values, etc., into United States equivalents is made in the Bureau of the Mint. The information is necessary for use in declaring the quarterly values of foreign coins and in compiling the figures relating to the world production of gold and silver, monetary stocks, etc., used in matters relating to finance and foreign trade.

COMPTROLLER OF THE CURRENCY.

The Act approved February 25, 1863, as amended, provides that "there shall be in the Department of the Treasury a bureau charged with the execution of all laws passed by Congress relating to the issue and regulation of a national currency secured by United States bonds and, under the general supervision of the Federal Reserve Board, of all Federal reserve notes, the chief officer of which bureau shall be called the Comptroller of the Currency and shall perform

his duties under the general directions of the Secretary of the Treasury."

The statistical work of the Office of the Comptroller of the Currency, is conducted under the provisions of section 333 of the Revised Statutes, as amended, which provides, in part, that—

The Comptroller of the Currency shall make an annual report to Congress, at the commencement of its session, exhibiting

First. A summary of the state and condition of every (national banking) association from which reports have been received the preceding year, at the several dates to which such reports refer, with an abstract of the whole amount of banking capital returned by them, of the whole amount of their debts and liabilities, the amount of circulating notes outstanding, and the total amount of means and resources, specifying the amount of lawful money held by them at the times of their several returns, and such other information in relation to such associations as, in his judgment, may be useful.

Second. A statement of the associations whose business has been closed during the year, with the amount of their circulation redeemed and the amount outstanding.

Third. Any amendment to the laws relative to banking by which the system may be improved, and the security of the holders of its notes and other creditors may be increased.

Fourth. A statement exhibiting under appropriate heads the resources and liabilities and condition of the banks, banking companies, and savings banks, organized under the laws of the several States and Territories; such information to be obtained by the Comptroller from the reports made by such banks, banking companies, and savings banks to the legislatures or officers of the different States and Territories, and, where such reports can not be obtained, the deficiency to be supplied from such other authentic sources as may be available.

Reports of Condition of National Banks, of Loan and Trust Companies, of Building and Loan Associations, and of Banks Other than National.

NATIONAL BANKS.

The provisions of section 5211 of the Revised Statutes, as amended, require every national banking association in the United States to make to the Comptroller of the Currency not less than five reports during each year, in the form prescribed by him, exhibiting in detail and under appropriate heads the resources and libilities of the association at the close of business on any past day by him specified. Uniform report blanks, amended from time to time, comprising 16 items under the heading of "resources" and 28 items under the heading of "liabilities" and 15 or more schedules in which the totals shown in several of the items under resources and liabilities are classified, are furnished each National bank several days in advance of the issuance of the call for a report of condition by the Comptroller. This report must be signed by the president or cashier, attested by the signatures of at least three directors, and furnished to the Comptroller within a period of five days from the date of receipt

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of request therefor, in accordance with section 5211 of the Revised Statutes. This report must also be published in the same form in which submitted to the Comptroller in a newspaper in the place where the bank is located, or if no newspaper is published therein, then in a paper published in the place nearest thereto in the same county; and proof of such publication must be furnished the Comptroller in the form prescribed by him. For this purpose additional forms are furnished the banks.

When the compilation of returns from all reporting National banks as of the date of each call has been completed, occasional press statements are issued setting forth the increase or decrease in the principal items of resources and liabilities of all reporting National banks, as compared with the returns as of the date of the preceding call and of the call 12 months previous; and an abstract consisting of 12 pages is published by the Comptroller giving the following information: (1) the total resources and liabilities (classified) of National banks, with corresponding figures for each of the five preceding calls; (2) the total resources and liabilities (classified) of National banks, grouped in six geographic sections; (3) the circulation, deposits, loans, discounts, and rediscounts of National banks in central reserve cities, other reserve cities, and non-reserve cities; (4) the cash in vault and the net amounts due from National banks, similarly classified by cities; (5) the reserve computation of National banks, also similarly classified; (6) the amount of reserve required, the amount of lawful reserve with Federal Reserve banks, and the amount of excess reserve held by National banks, grouped both by geographical and by Federal Reserve districts; (7) the total resources and liabilities (classified) of National banks, by Federal Reserve districts; (8) the total resources and liabilities (classified) of National banks in central reserve cities, other reserve cities, and non-reserve cities; and (9) the increases or decreases in the principal items of resources and liabilities of National banks since the date of the previous call, and likewise during the last calendar year. Approximately 2,000 copies of the abstract are printed and distributed to those interested.

LOAN AND TRUST COMPANIES, BUILDING AND LOAN ASSOCIATIONS, AND BANKS OTHER THAN NATIONAL IN THE DISTRICT OF COLUMBIA.

Under the provisions of section 713, as amended, and section 720, of the Code of Laws of the District of Columbia, loan and trust companies, and banks other than National located in the District of Columbia are required to make to the Comptroller of the Currency, and to publish, reports of condition similar in number and content to those required of National banks. The procedure followed by