New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-11-20
GOVERNMENT FIN4ECES.
THE TREAsURER's REPORT
REVENUES GREATER THAN E1PENDTURrs-UN-
AVAILABLE NEUTRALITY-SUSPICIOUS.


THE TREASURES REPORT.
REVENUES GREATER THAN E1PENDTURrs-UN-
AVAILABLE FUNDs-smyER-REDEM
WASHINGTON, Nov. 19.-The Treasurer OF
the United States in his annual report OF the operation
OF the Treasury during the last fiscal year.
hibit regarding receipts aud expenditures As compared
with the scal year which ended on June 30 1876 that
ending on June 30 1877 shows a decrease net rev
enues amounting to SI8,4s1.452 81, and a decrease
in net expenditures amounting to Sl9,7907s8 10
The net revenues for the fiscal year were $269OOO,
$50 81, and the net expenditures. S238, G6O0Os 90.
making an Increase OF funds amounting to S30,3iO-
ST. 90. It's observed that, while the revenue from
Customs, lands and miscellaneous has decreased
year aIter year since 1873 the revenue derived from
internal revenue, socaled, has increased The receipts
that in 1874 SlO2 4O97s4 90, and in
the fiscal year OF 1877, Sis, $50. 4O7 3d.
The total amount OF unavailable moneys carried in
the balances OF the in the Treasurer Offices is
reported to have been follows: June 30, 1885, $780,,
s99,52O 20; June 80, 1877, S29,G25ss3 -. The
theory OF the public is that Treasurer OF
the United States shall be charged upon the warrant u
the Secretary With all moneys received into the Treasury
and for which, Whenever received ne ia held account
able until the same are properly disbursod
under some appropriation made to law II has,
however, occurred, that 1886 the OF $780,
G25, s33 - over the above amount Of public money.
which has been properly accounted for has by OF
deposit Of surplus with twenty states OF the
Union, by deficit by default By theft in various places
and by failure Of depository banks gone from the Gus
tody Of the Treasurer which he cannot, from the
nature Of the account for, and thereby obtain
credit therefor the books Of the depart
ment and for convenience TO the operations
Of the department. this amount Is carried
in the accounts unavailable The Treasurer thinks
should be legislation authorizing the opening OF
appropriation account upon the books OF the Depart
ment IN which under the head OF Unavailable" the
Treasurer may receive credit for and here
after from time time becoming unavailable; and that
the person, bank or,5tae properly chargeabe may be
debted with the various items by warrants upon aud ac-
count stated by the proper accounting officers OF the
Treasury.
Although the monthly debt statement Of the depart
mcut was never Intended 10 show the condition OF the
Treasury and the amount and kind Of funds on hand
vel many deductions sought be made from time TO
time thar publication gave Liabilities and assets,
and not merely the condition OF the debt. The report
states that the only items cash the Treasury which
The debt statement includes the general currency
balance and the general coin balance The currency bal
ance appears the monthly statement under the item
Cash III the Treasury Currency" is simply the amount
OF currency thar would be left in the Treasury after the
payment Of all the currency demands I'm full and 50 also
Of tile item Cash the Treasury-C0n" There l., I'D
addition, the amounts held FOR redemption OF Clearing
House certificates and coin certificates, OF which
the amounts outstanding axe noted in the state
funds 10 the credit Of dsbusng officers for the redemp
ton OF notes Of National banks failed IN the liquidation
and redeemIng Of the circulation to meet outstanding
checks aud drafts for the benefit % the creditors Of the
National banks the balance Of the per cent fund and
others. A comparative statement is gwen showing IN
detail both in coin and IN currency, the liabilities ana
ASSETS OF the Treasury september 80 1876 and 1877
These aggregate as follows:
Coin
september 80, 1s76........-......... $675s97o5 %
September 30 ls''.-......--.---.-.. Io',S3yoa -
September so. ~ 766 -
SeuteIne 80. 1877 llOO3OJoJ OL
Regarding the 10, mootcd question whether the legal
tender notes Deposited for redemption OF circulation
of failed reducing and hqudatng banks are held -
separate fund. may be said that there no provision
~ law which requires that such notes should 80 be- bed
and MS fact they have been held apart ana dis
tnct from the other funds in the Treasury There is,
Itout doubt in the various offices and vaults OF the
Treasury a sufficient amount Of United states
notes TO redeem all such bank notes II presented
simultaneously for redemption, bus they are not
always in the vaults OF the Office in Washington where
the redemption required 20 De made Deposits OF le-
galender for the purpose named may be made at the
convenience Of the depOst0r Win any Assistant Irea-
srer depository; tut Whenever made credit is given
the bank upon the books OF the Washington Office its ac-
count is debted with the amount reduced, and payment
is made either in by check On any point where
the Treasurer Las a transfer account.
Arecapllulaton or the silver payments made in pursu-
auc OF the Act Of April T. 1876 shows aggregate Of
229156IG2 - ~ silver issued for fractional currency
redeemed and destroyed. and Tl34Gi,J69 i Of silver
issued in lieu OF, or in exchange for currency uu-
der the Joint resolution Of July %. 1876, making
a tota! Of @3G,62O.732 Upon the official estimate
OF 3j73 80 fractional currency lost n circulation
there may DE sti issued before the limit Of SjOOOOoOO
il rcacbec $40 2G0 O6l 16 in exchange for fractional
and S3I1O206 "A for currency obligations An
increased demand for silver coin caused
perbaps by tho necessities u business &C tins season OF
tine vear is sprncing up while the amount Of fractional
currency presented for redemnton has fallen Of from an
,ra, o over - 900 900 month, during the first four
months Of This calendar year, io IN average or tSs
tb,p $4,000 q month for the last lour mouths
1la coin recent. at New-OrcauS exceed annually thr
com paymru's by about ri0oOoO. THIS surplus % com
usually transferred 60 NrW-1 ufk, by lr OF tA-
i. nm Zine form OF tran. cheeks drawn Dv th' Treas
m or ON tine treasurer az NeW-Oea- u laFor
al fre Assistant Treasurer In NeN-1Ork, all that can DE-
,rr ing disposed OF Dy tis latter oHlcer at Pt
80 ~ ni,ff.r Of one per cent. The sales IN the Fail
~ 1875 amounted e. S352uoO II having Dseu
errsputed that New York currency exchange could De
i,lr,..ed of I'M Ncw-OrcIns. hair million dollars IN
,sfr checks were sent NAV last % the Latter point
~ rbe Vev York office, which were disposed OF AZ pre-
,tun az uue-.ixteentn Of one per cent Upon appAca
Inn further sum OF Bali million was sent nllh Tor
Yle In september last. Owing ~ tho ClhcN Oh utu'
the Office at Tucson, Arizona mas peeh III great
- st,Upiled with funds by The sale or exchange