The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1877-11-29

exhibit regarding receipts and expenditures,
as compared with the fiscal year ended June 80,
1876 That ending June 80, 1877, shows a de-
crease IN the net revenues amounting to $18,-
48l, 452, and q decrease in the net expenditures
OF $40. 799, 1888 :. net revenues for the fiscal
years. % sovD, 5SeEs net expenditures, $685.,
600, 005; making an increase of funds amount
ing to, $50, 38es577~
r Itsls Observed that, while the revenuesffom
customs, iaildgsand miscellaneous SOURCES has.
decreased yeaFa after year, since 1873 theTeves
nue. derived from internal revenue. so-cahsd,5
has 1flct eased; the receipts from that source
in 1874 havinasheen $102, 400, 794, andin tllss
iscaE <yeaES $118, $3.50, 407. The toll
amount OF unavailable moneys carried in BAL
ances of accounts in the Treasurer's offices was
as follewss:s.aJa 80, 1876, $29, S99, 500 June
80, 1877, $29 $40. 1883.
The theory-o public accountg-is tt1at-tf1e-
treasurer OF the United States shall be charged
upon the warrant OF the Secretary with all
moneys received into the treasury, and for
which !ar whenever received he is held account
able until the same retfy I'M
der some appropriation made pursuant to law
LII has, however; occurred that since 1886 the
sum Of 1923, 62a5, $50 over and above the amount
or public money which has been properly ac-
counted for has, BY reason Of the deposit of the
surplus revenue with tweTtyZsix States7of the
Gus places, and by failure IN. depository banks.
gone FROM the custody of the Treasurer, which
IT. seems be: cannot from, the nature of the
case, account: for, and thereby obtain credit
therefor. on the books of the department. and
for the convenience of the operations Of the
department this; amount is carried in accounts
cas unavailable. RS - sS'*e
The Treasurer thinks their should be legisla-
ton authorizing the-npPninG IF an ahs'r0pria-s
tion~aeconht upon the books OF the department
IN WIleha under the head OF .t.unavoidable,
the: treasurer may receive credit for sums now
and hereafter from time to time becoming un-.
available, and that the person, bank or State
properly chargeable may be debited with various
lte1ns bE*warrant upon the account stated by
the proper accounting officers of the, treasury.
Although the monthly debt statement Of the
department. was never intended to show the
condition Of the treasury and the amount and
kinds OF funds on hand, yet many deductions
are sought to be made from time TO time, as il.
that publication gave the liabilities and assets
and not merely the con ition Of the debt. The
only items of cash in the treasury which the
debt statement includeare the general currency,
balance and the general coin balance. The eur
rency balances as it appears in. the monthly
statement under. the Item FEcash in treasury
currency is simply the amount of currency
that would be left in the treasury nfter the
payment of all currency demands in full, AMI
also. of the item leash IN treasury, coin"
There is, in addition, the amounts held for the
redemption of clearing house certificates and
coin certificates, Of which the amounts out
standing are noted in the statement, besides
which, mot mentioned, there are funds TO the
credit of the disbursing officers. for the re-
demption of the notes Of national banks failed,
in liquidation and reducing circulation, to meet
outstanding checks and drafts for the benefit
of the creditors of national banks, the balance
of the 5 per cent. fund and others. "a. .
A comparative, statement is given showing in
detail both IN coin and currency both the LA
biGties and assets OF the treasury on Sept. SO,
1876 and 1871 These aggregate asfollows:
Coin, Sept. 3d. 1876 $67, 5S6, 705; Sept. 30. 1877,
1888, 585, 072; currency, Sept. 80, 1875, $780,
437, 1855; Sept. 80, 1877, $110,096,039: $500.
Regarding the long-mooted question whether
the legal-tender notes deposited for the re-
demption of the circulation of failed, reducing
and. ;hquidatipg banks, are held as a. separate
fund, it may be said that there is no, provision
of law which requires. that such notes should
so be held, and as o fact they have never been
held, set apart and distinct from other funds in
the treasury. There is without doubt in the
various offices and various vaults Of the treas
ury a sufficient amount of United States notes
to redeem all such banks notes il presented
simultaneously for redemption but they are
not always in the vaults of this Office, where the
redemption is required to be made.
A recapitulation of the silver payments made
in pursuance Of the act of April II, 1876, in
Guiding the payments from April Is, 1885, I'M
til and including October, 1871 shows an
aggregate Of 1928, 1876 Of SILVER issued for
fractional currency redeemed and destroyed.
and 1913, 464, 500 Of silver issued in lieu of or in
exchange for, currency, making total of 1885,
0,732. Upon an official estimate of $685.
573 fractional currency lost in circulation there
may be still issued before the limit of the
$50, 000, 900 is reached $16 268, 061 in exchange
for fractional and So, no. 206 for, currency obi
cations. 49, 80 81 -. ~ yT&T
There was a decrease of $27,509, 108 in the
retirement of legal-tender notes during the
year, besides which there was a reduction in
volume of the United States paper money very
marked, leaving the outstanding circulating
paper issues of the Government at 1886: 627,-
976 atsthe close of the fiscal year, being less
than at any time since 1862 The volume Of
legal tender notes and of fractional currency IS
also less than at any time since 1862. I<.'F
There. were presented during the.;year for
redemption counterfeits of ,national-bank notes;
amounting to .$14 563, including denon1ina7>
lions from $100 down to 81; also counterfeit
1egal-tender notes and fractional currency to-
the extent Of $19 661, Including all ,denomina-
tionsof legal tender, but more Of the ,denoml-
nation of 500 than -anyQther. = .4:... = v,y.
The national banks have paid duty amount
ing to $75; 1852, a87 during the thirteen calendar
years from. 1864 to- 1877. 1a jt5.@t a.'3E >:.t,
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