No. 203.
Mr. Welsh
to Mr. Evarts.
Legation of
the United States,
London, August 5, 1879.
(Received August 18.)
No. 334.]
Sir: I have the honor to inclose herewith a
statement respecting the amount of gold and silver coin and bullion and
paper currency in Great Britain, transmitted to me by Lord Salisbury in
answer to my note written in accordance with your instruction No. 296, of
the 23d May last.
The statement gives—
The amount of gold and silver coin and bullion in the banks and in
circulation at the close of the years 1876, 1877, and 1878.
The amount of outstanding paper currency to the latest date in each of the
above-named years, in which returns are received by the British
Government.
The amount of gold and silver coined, imported, and exported during the years
1876, 1877, and 1878.
With regard to the amount of gold and silver consumed in the arts and
manufactures, Lord Salisbury regrets that there are no means of obtaining
accurate statistics, but adds that the select committee of the House of
Commons, which was appointed, in 1876, to inquire into the causes of the
depreciation of silver, took considerable pains to investigate the question,
and that the information on the subject contained in pages xlviii and xlix
of the inclosed report appears to be the best which can be obtained.
I have, &c.,
[Inclosure 1 in No. 334.]
Amount of gold and silver coin and bullion in the
banks and in circulation.
|
December
31, 1876. |
December
31, 1877. |
December 31,
1878. |
| Gold coin |
£119,115,000 |
£120,037,000 |
£125,318,000 |
| Gold bullion |
18,430,000 |
11,316,000 |
13,666,000 |
| Silver coin |
19,091,000 |
19,107,000 |
19,102,000 |
There can scarcely be said to be any stock of silver bullion in the
United Kingdom, as all that is produced or imported is disposed of with
as little delay as possible, and the quantity kept at any refinery for
trade purposes is so variable as not to be worth noticing.
There is no reserve of coin or bullion at the treasury; the exchequer
balance is included in the returns from the Bank of England.
Amount of outstanding paper
currency.
Bank of England:
| December 27, 1876 |
£27,898,255 |
| December 26, 1877 |
26,797,985 |
| December 25, 1878 |
33,110,790 |
Other banks in England:
| Average of four weeks to December 30, 1876 |
4,591,226 |
| Average of four weeks to December 31, 1877 |
4,398,946 |
| Average of four weeks to December 31, 1878 |
3,901,331 |
[Page 450]
Scotch banks.
| December 30, 1876 |
£6,558,947 |
| December 29, 1877 |
6,139,612 |
| December 28, 1878 |
5,798,494 |
Irish banks:
| December 30, 1876 |
7,409,342 |
| December 29, 1877 |
7,051,217 |
| December 28, 1878 |
6,667,627 |
Amount of gold and silver annually
coined, imported, and exported.
|
1876. |
1877. |
1878. |
| Gold coined |
£4,696,648 |
£981,468 |
£2,265,069 |
| Gold imported |
17,369,000 |
6,881,000 |
17,756,000 |
| Gold exported |
12,741,000 |
10,187,000 |
10,612,000 |
| Silver coined |
222,354 |
420,948 |
613,998 |
| Silver imported |
13,000,000 |
20,000,000 |
11,000,000 |
| Silver
exported |
14,000,000 |
19,000,000 |
11,250,000 |
