Comparative statement of the principal items of resources, and the total deposits of all National, State, savings, and private banks, and loan and trust companies in the United States, as shown by their reports nearest to June 30, for the years 1916 and 1917. STATE, SAVINGS, AND PRIVATE BANKS AND LOAN AND TRUST COMPANIES. TOTAL NATIONAL, STATE, SAVINGS, AND PRIVATE BANKS AND LOAN AND TRUST COMPANIES. The figures in the foregoing table show that during the past year the deposits in the national banks increased 17.42 per cent, while the deposits in the State banks, savings banks, and trust companies increased only 14.01 per cent, the percentage of increase in the deposits of the national banks being approximately one-fourth greater than the percentage of increase in the State banks. Cash holdings of the State banking institutions during the year increased $83,000,000, or 12.49 per cent. In the same period the national banks showed an increase in cash in vault and balances with Federal reserve banks of $278,000,000, or 21.42 per cent. Against total deposits of $17,671,243,000 the State banks, savings banks, and trust companies, etc., held June 20, 1917, cash to the amount of $749,791,076. On the same date the national banks of the country, against total deposits of $12,771,833,000 had cash in vaults and balances due from Federal reserve banks amounting to $1,573,295,000. Although the total deposits reported by the State banks, savings banks, trust companies, etc., were $4,899,411,000 more than the total deposits reported by the national banks, the figures show that the cash in vaults and balances which the national banks carry with their Federal reserve banks exceeded by $823,504,000, or more than 100 per cent, the total cash carried by all the State banks, savings banks, trust companies, etc., as of June, 1917. MINT SERVICE. Operations of the mints. The following Mint Service institutions were operated during the fiscal year 1917: Coinage mints at Philadelphia, San Francisco, and Denver; assay office at New York, which has a large trade in bars of fine gold and silver; mints at New Orleans and Carson City conducted as assay offices; and assay offices at Seattle, Boise, Helena, Salt Lake City, and Deadwood, these being bullion-purchasing agencies for the large institutions. Refineries were operated at the New York, Denver, and San Francisco institutions. The value of the gold acquired by the Government at the mints and assay offices during the fiscal year 1917 was $907,962,397.15, the large increase over last year being due principally to the heavy importations of foreign coin. United States gold coin received for recoinage was of the value of $1,906,125.44, transfers of gold between Mint Service offices totaled $13,832,622.21, making an aggregate of gold handled by the Mint Service during the fiscal year 1917 of $923,701,144.80. Silver purchased during the fiscal year 1917 totaled 6,161,680.34 fine ounces, costing $4,513,215.19, at an average price of 731 cents per fine ounce; the silver received and repaid to the depositors thereof in bars bearing the Government stamp totaled 4,610,396.06 fine ounces; the silver deposited by foreign governments to be worked into coin totaled 811,754.81 fine ounces; the United States silver coin received for recoinage totaled 6,241,055.78 fine ounces, with recoinage value of $8,627,946.34; the Philippine silver coins received for recoinage totaled 149,129.07 fine ounces; the transfers of silver between Mint Service offices totaled 1,231,661.15 fine ounces, making an aggregate quantity of silver handled by the Mint Service during the fiscal year 1917 of 19,205,677.21 fine ounces. The large increase over last year of silver handled was due principally to the extraordinary demand for subsidiary silver coin and to the placing in circulation of the new design subsidiary silver coins. The United States coinage for the fiscal year 1917 amounted to $25,445,148.68, of which $1,230,040 was gold, $18,263,600 was silver, $3,816,496.70 was nickel, and $2,135,011.98 was bronze. This amount includes $30,040 in $1 gold pieces struck at the Philadelphia mint for the McKinley Memorial Association, and respresents a total of 406,500,972 pieces. There were also coined at the Philadelphia mint 5,000 gold pieces for Costa Rica; 589,661 silver pieces for Colombia; 2,000,000 silver and 2,800,000 nickel pieces for Ecuador; 2,500,000 nickel pieces for Salvador; 100,000 silver and 800,000 nickel pieces for Panama; 1,170,000 bronze pieces for Nicaragua; 510,000 gold planchets and 600,449 silver planchets for Peru. The mint at San Francisco coined for the Philippine Islands 1,594,203 silver, 1,600,000 nickel, and 4,500,000 bronze pieces, a total of 18,769,313 pieces. The seigniorage on United States coinage executed totaled $10,478,643.24, of which $5,406,158.51 was on subsidiary silver coins and $5,072,484.73 was on minor coins. Stock of coin and bullion in the United States. On June 30, 1917, the estimated stock of domestic coin in the United States was $2,308,584,535, of which $1,541,481,585 was gold, $568,270,061 was silver dollars, and $198,832,889 was subsidiary silver coin. The stock of gold bullion in the mints and assay offices on the same date was valued at $1,550,357,982.76, an increase over last year of $745,891,805.06, and the stock of silver bullion was 10,054,416.81 fine ounces, a decrease over last year of 780,757.07 fine ounces. Production of gold and silver. The production of the precious metals in the United States during the calendar year 1916 was as follows: Gold, $92,590,300; and silver, 74,414,802 fine ounces. Industrial arts. The amount of gold consumed in the industrial arts during the calendar year 1916 was $51,061,187, of which $41,120,149 was new material. Silver consumed amounted to 32,103,507 fine ounces, of which 22,204,261 fine ounces was new material. Export of gold coin. The net export of United States gold coin for the fiscal year ended June 30, 1917, was $124,413,527. Appropriations, expenses, and income. The appropriated amounts available for Mint Service use during the fiscal year 1917 totaled $1,514,586.88, reimbursements to appropriations for services rendered amounted to $82,054.39, making an available total of $1,596,641.27. |