TABLE G.-Showing the amount of the circulation after making an allowance for the loss suffered by each mintage before passing completely into the circulation. 1.629 1876 4.095 2.037 2.228 2.292 2.483 2.483 2.801 2.928 2.992 1877 13.480 5.906 6.332 6.704 7.024 7.662 8.461 8.727 9.738 62.862 65.058 76.498 80.955 81.048 82.558 84.798 2.087 2.000 2.262 2.435 2.522 2.696 2.783 1.676 1.769 2.048 2.095 2.374 2.374 3.183 3.374 3.565 3.820 10.004 10.802 11.653 12.239 7.986 8.523 9.298 8.147 6.917 0.691 3.540 3.635 4.018 4.449 5.287 6.008 6.319 6.195 3.034 0.278 0.216 0.278 0.371 4.595 5.084 5.670 6.404 1.634 1.803 2.093 2.142 3.812 3.968 4.198 3.902 9.903 7.683 8.183 8.620 9.120 9.744 1.401 5.204 3.771 4.104 4.603 4.532 2.149 0.495 0.355 0.193 0.161 8.860 7.499 7.215 5.631 7.076 6.839 6.839 2.635 2.346 118-234 115-671 112-150 111-883 112-407 108-852 108.884 119-249 121-737 122-330 121-320 116-003 115-683 124.142 TABLE H.-Showing the percentage which each coinage forms of the circulation in the third year after its mintage. one-fifth were of the years 1863 and 1864, and has stated that he felt certain after drawing up many averages, that this proportion must be near the truth. (It has occurred to me that it would be better if a more scientific method was adopted to ascertain this proportion. For example, my original table is the mean of the provincial averages, but the proportions would be more accurate if a different value was assigned to each province according to the comparatively greater or less volume of their circulation.) Jevons, after ascertaining his proportion, commenced by assuming that the whole of the coinages of 1863 and 1864 was in circulation, and had suffered no loss. It then follows that the total circulation must be five times the coinage of 1863 and 1864. The table given on page 736 gives the result of a similar calculation from my figures. By way of experiment, I have taken several years as basis. As it is obvious that estimates founded on the coinage of earlier years must be largely excessive owing to greater wastage, I have in the table on p. 737 reduced the figures on which they turn in each case according to the system employed in forming Table G; that is, the wastage after the year each mintage came completely into circulation, up to the year employed as quotient, has been calculated according to the differences given in Table A on page 723. In the next table, the wastage prior to the year of complete circulation has been calculated at 8:302 per cent., as was done in Table G. 1 Omitting 1881 on the average, 100 becomes 73.53 the third year after issue. 1877. 1878. 1879. 1880. 1881. 1882. 1883. 1884. 1885. 1886. 1887. 1888. 1889. 1890. TABLE I.-Giving for successive years estimates of the circulation based upon selected years, no allowance being made for the loss suffered by the selected coinages before passing completely into the circulation. 143.84 125.11 121.20 127.83 154:41 154-71 144-01 100-74 111.85 133-86 132-89 136-42 142.76 131.70 129.62 127.81 137-31 161-13 160-09 125-43 107-79 124.50 132.29 139.81 147.36 135.21 134.46 137-30 141.91 163-25 149-67 148 13 123-31 139-14 140-43 150-52 158.16 143.84 125-11 250-82 390-1 1 1 429-02 457-75 467-35 375-84 367-77 381.67 404-32 416-66 440-64 425.07 2 3 3 3 3 3 3 3 3 3 143.84 125.11 125.41 130-03 143-01 152.58 155.78 125-28 122.59 129.22 134-77 138.88 146.88 141.69 3 101-27 136.50 117-21 135-07 167-39 141-52 101.63 104-34 121.78 136.56 135 65 125.34 127.80 138.74 112.69 136.50 123.10 144-14 167-39 148-82 69-87 109-12 138-55 127-57 143-52 140-59 126-57 121.52 146.25 132-80 155-77 170-61 133.66 93.16 123-24 144-62 132.82 151.19 153. 121.52 154.52 143.40 157-05 165.83 190-79 124-22 137.46 159.58 149-16 161.02 .. 101.27 249-19 375-23 525.94 598-85 608-08 578 11 473-7 514-85. 522-57 545.3 561-26 568-74 579-33 2 3 4 4 4 4 4 4 4 4 101-27 124.59 125-07 131-48 149-71 152-02 144-52 118.42 128-71 130-64 136.32 140-31 142.18 144.83 251.3 259-86 271-09 279-19 289-06 286-52 2 2 2 2 2 2 2 2 150-15 121.85 125-65 129.93 135-54 139.59 144.53 143.26 1877. 1878. 1879. 1880. 1881. 1882. 1883. 1884. 1885. 1886. 1887. 1888. 1889. 1890. TABLE J.-Giving for successive years estimates of the circulation based upon selected years after making allowance for the loss suffered by the selected coinages before passing completely into the circulation. 143.84 115.35 145.53 116.66 126.37 126.12 131.70 125'62 108.26 100.74 119:44 119.82 142.36 150-05 127·14 127.16 126.38 126.18 125'85 101.44 108:47 119:40 125'43 115.83 120-19 143.17 150-29 127-15 126:39 125.90 101.85 108:42 141.18 115.38 119:43 119.83 143:05 149-67 126.36 TABLE K.-Giving for successive years estimates based upon selected years after making an allowance similar to that which was made in Table G for the loss suffered by the selected coinages before passing completely into circulation. 1878. 1879. 1880. 1881. 1882. 1883. 1884. 110.95 1885. 1886. 1887. 1888. 1889. 1890. 110.75 111.46 134'44 139.09 117.83 94-01 101.13 117:58 117.90 119-66 114.91 118.49 91.13 94.75 102.14 106.87 117.83 119-87 107.88 105:13 91.80 95.16 101.27 106-78 118-13 119.93 111'60 110-67 111.50 135.10 139.31 111.00 110.75 111.50 135.01 Estimate based on the 2nd antecedent year 127.33 106.42 119.20 153.71 123.90 127:33 106.42 119-19 153.71 64545 95.54 112.42 95.67 112.73 118.25 124.95 110.91 117:31 134.09 123.87 61.87 97.77 116-27 104.42 124.64 110.91 107.12 153-71 97.90 61-83 97.75 112.68 104'43 124.93 110.91 119.20 61.77 97.76 112.68 104.43 124.92 127:33 127.32 127.32 127.32 127.31 127.30 127.32 127.33 127.33 127.33 127.31 127.31 106:42 106.42 106.42 106:42 106.42 106.42 106.42 106.42 106.41 106-42 106.41 119-20 119.19 119-19 119.20 120.86 119-19 119-20 119·19 119-20 119.20 106:41 119.20 127.33 233-75 1 2 127.33 116.87 352.94 352-93 352.93 352-93 354:58 352.93 352.94 352.95 352.93 3 3 3 3 3 3 3 3 3 117.64 117-64 117.64 117.64 118:19 117.64 117.64 117.65 117.64 Average 222.13 222.25 222.31 223.25 222.56 222.36 222-79 222.51 222.71 222.57 2 2 I 2 2 2 2 2 2 2 110.75 111.06 111.12 111.15 111.15 111.62 111.28 111.18 111.39 111.25 111.35 111.28 2 1878. 1879. 1880. 1881. 1882. 1883. 1884. 1885. 1886. 1887. 1888. 1889. 1890. 365.61 455.66 457.38 474.30 483-15 474.83 418:49 416-81 432.29 447.67 3 4 4 4 4 4 4 4 4 4. 121.87 118.91 114.34 118.57 120.78 118-70 104.62 104.20 108.07 111.91 A mean between the results indicated by the estimates marked A, B, C, and D, gives the following as the circulation each year from 1878 to 1890: |