No. 203.
Mr. Welsh to Mr. Evarts.

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.,

JOHN WELSH.
[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