Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1837-09-15
TREASURY REPORT.

IBIS document is altogether too long for
publication entire and we therefore give an
abstract OF its contents. The aggregate
receipts into the Treasury for the last half
year ending July 1, 1887, are stated to be
Sl3, l37, 1872, and the estimated receipts for
the next balf are $4,000, 900 making the
receipts for the year--wi,h reasonable de.
auctions for The postponement of paymen.
on bonds--ascertaIned and estimated At
S26,857, 3l9. The expenditures for the
same period, including civil, military, pep.
| sons and miscellaneous, are estimated at
SIC, 1888, 1884, and expenditures required to
meet existing appropriations are estimated
at SIC 0000 900; making for the whole
year S32,733,384. There will, according
to this estimate, be deficit Of receipts to
meet expenditures of S5,876 Sos. The
Secretary then recommeds an ex,ensSf Of
Custom House bonds for six months. and.
in effect repeal of the deposiie bill so far
as the inslalment on the lst October. next
is ncerned-recommends the issue of
Treasury Notes to pay for the appropria.
tons and expenses Of the governmcnt--and
gives the details of the Sub Treasury
scheme spoken of in The Presidents Mes.
sage. The following abstract of the resi-,
due Of the Report is from the Commercial
Advertiser.
The sixth head is "the settlement with
the former deposi,e banks" 1t is stated
! that under the advice and WARNINGS Of tho
department. grent reduction 10 the circu.
| laiion and discounts Of many of the depos,,e
banks land n considerable increase of sne
| Gle, wero effected be ween the selection If
| the banks and the last returns before The
suspension. The average of specie was
| more than one to three: and the decrease
Of specie, from Nov to My. "as onv from
Is to IS millions, while their Circulation
had fallen from a to 81 millions, although
they had pad out more han 90 millions Of
the public money.
The policy pursued BY most Of the do.
noslte banks. since the suspensions, has
been favorable to an early resumption, and
| discharge Of their obligations 10 the treas
nry. Since the 'st of Nav. their discounts
have been reduced 20 388 10. ,he,r crcn
la,ion AO9l,79l their public dcposI'os IS
| 607 SIG, and their specie less than 3 600.
900. OF the Sc banks, 10 or II have paid
over al their deposres Of public money:
but 700 900 remains with half the remain.
der; and the whole amount in all. is only
l2,4l3,O4l. Legal proceedings have been
commenced against 9 aud stems have been
| takeD to obtain additional security from
some others. On the whole. the ultimate
! loss to the treasury Is expected to tc small,
# any.
The expcdicncv Of measures bv Con
gresS, TO hasten the rcsnmpIon Of specie
payments. is suggested; and also tina, the
de'autIng banks be required To pay inter.
est on their deposl'es where they have
loaned them ont on interest
The situation Of the banks in tho Sou,h
West Is the worst; in The Western and
Eastern and middle states. the ab,htv of
the banks to sustain specie payments i.
greater than has been customary N ,his
country.
The average Of specie 10 circulation is a.
one to two, and one to three--of means 10
liabilities "a one to three
The export of specie since Mav15 shown
nv the cus'om.hnnSc returns, has been 3
709 320-,mpor SIl40 GOO Both export
and import have doubtless been con,dera.
bly, greater in reality.
a bankrupt law, applicable to all hanks,
or a. all events, 10 all employed BY the
Treasury. is suggested a. exncdent.
The seventh head is "ihe money recciva
BILE for public dues" Npory,wo Columns
are expended on the subject. the amount
ct which Is. suggestion to Congress- to
authorlz" the issue of Trea,ur certificates.
payable ~ specie. but not bearing Interest,
to be employed IN conneXlon with gold and
silver, and only where some strong reason
nf convenience exists for heir adoption.- -
Mint certificates are also suggested. aud
the ordinary drafts Of the Treasury depart.
ment. The amount Of gold and silver re.
CURED Tor The public service is estimated a.
from to 10 millions only and the whole
amount for the use OF The whole people, in
sound state of business and prices, at only
| 10 millions.
Two or three columns of matter prepar.
ed for last week, is inserted on our first
page.
II is said thu, GhoIson, Of Mississippi
has challenged Webb. of the Courier.
GTVan Barren says III is not The legiti.