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Show AT PAK. Yesterday, in New York, for tho first time in sixteen years, or since greenbacks were firt issued, United States gold coin and United State-s currency cur-rency notes reached their par or faco value. There has been a gradual, and , almost uninterrupted approach to; this point Bince August lilut, 1S65, when the publio debt reached its, maximum, and the volume of greenbacks green-backs was the greatest. Tne amount of greenbacks in circulation has steadily decreased eince that date, though national bank notes have increased in-creased in about tho same ratio that tho others have fallen ofl, so that government gov-ernment currency obligations in point of fact remained about the same. In lfiPw tho fiE'crrnirato of lecal tender notes, including fractional currency and old demand notes, and tbo notes of national banks, including gold notes, was $635,719,2GG. On November Novem-ber let, 1877, the aggregate was $691,114,400. In 1874, the total was a little less than $783,000,000. Previous Pre-vious to 1875, the fluctuations of the price of gold were wonderful to contemplate, con-template, Following are the highest and lowest prices for each year during the fourteen yeara that the fluctuations fluctua-tions were greatest, btgiumug with January, 1862, when tho gold dollar was worth 105, greenbacks : Highest. Lowost. lfcfiii October.... 137 January... -par 1 pi i;s February.. August 122J lfj;4 July 285 January.... 161 1S05 January... '23ia May 128 ; lhbb ii une -n" T. mariai iu 1867 tieptomb'f.l4(j:!6 January ...132 18(18 August 160 November. 132 1809 Seitemb'r.lG23-a Decern bor-irJii 1870 January.. .123 K Novomber.110 1871 aeptomb'r.ll&?d DecGmbor-lOSiV 1872 August ll&;'a January... .108! 1873 Ap.il 119 Novombor.l0(i 1S74 April 1H July 101) 1876 October.. ..117;a Jan'y and July 111 Since 1876 there has been a steady decline in the gold premium, and during the present year it haB been merely nominal. Practically, resumption resump-tion was reached Bome weeks ago, and now it is a fixed fact, two weeks before the time appointed by law for tho event. It will not be surprising if greenbacks ehall actually bo at a premium for gold within three months. |
