Show BANKS AND SILVER CIRCULATION I M In the month of September I there was an apparent contraction of national bank p chculation to the extent of 8675250 inconsequence in-consequence of bond calls The imme diate actual contraction is of course not as much as that as the actual contraction does not take place until the notes are returned to the Treasury and destroyed I s There is no provision to f secure the return of the notes except through the ordinary I slow routine process of redemption and i4 the return of notes unfit for circulation The banks take no steps to return their own circulation It will be several months before these notes which u ate re i uiea so Jar as the figures go will be ac i t lually received at the Treasury Depart t ment and destroyed The new silver certificates which are being issued are expected to take the place to some extent of the notes of the national banks that have been retired The estimate now is that the amount of silver to be coined I the current year will reach 29000000 Under the new silver certificate law it is 1 expectedthat most of this will go to cir l culation in the form of certificates While this is not so much i x as was to have been expecteU from a Democratic Administra I t f tion it is far better treatment T than was 7E experienced under Republican rule f t by the friedds of silver |