The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1877-11-29
United States Treasurer's Report.

United States Tr~easurer's Report.
The Treasurer of the United States, in
his annual report of the operation of the
Treasury during the last fiscal year, makes
the following exhibit regarding receipts and
expenditures, as compared with the fiscal
year ended June 80, '76: That ending June
80, III, shows a decrease in net revenues
amounting to $1S,4S1,452, and a decrease in
net expenditures of $40, 799, 1888; net reve-
nues for the fiscal year, $269, 000, 5S6; net
expenditures, $685., 660, 00S, making an in
crease of funds amounting to $50, 0,577.
1t is observed that while the revenue from
customs, lands, and miscellaneous sources
has decreased, year after year, since 1873,
the revenue derived from internal revenue,
SO called, has increased the receipts from
that source, in 1874 having been $102, 409,-
7s4, and in the fiscal year 1877, $11S,6 0,407.
The total amount of available moneys car
ried in balances of accounts in the Treas
urer's Office was as follows: June so, 1876,
500, 1896, $40; June 80, II, 500, 620,SS3. The
theory of public accounts is that the Treas
urer of the United States shall be charged
upon warrant of the Secretary with all the
moneys received into the Treasury, and for
which, whenever received, he is held &C.
countable, until the same are properly dis
bursed under some appropriation made pur-
suant to law. 1t has, however, occurred
that since 1886, the sun of $780, 25, 1888, over
and above the amount of public money
which has been properly accounted for, has
by reason of deposit of surplus revenue
with twenty-six States of the Union by de-
felt, by default, by theft in various places,
and by failure of depository banks gone
from the custody of the Treasurer, which
sums he can not, from the nature of the
case, account for, and thereby obtain credit
therefor on the books of the department,
and for convenience of the operations of the
department this amount is carried in &C.
counts as unavailable. The Treasurer
thinks there should be legislation authorize
ing the opening of an appropriation ac-
count upon the books of the department,
in which, under the head of unavailable
the Treasurer may receive credit for sums
now and hereafter from time to time be-
coming unavailable, and hat any person,
bank or State, properly chargeable, may be
debited with the various items by warrant
upon account, stated by the proper recount
ing officers of the Treasury. Although the
monthly debt statement of the department
was never intended to show the condition
of the Treasury, and amount and kinds of
funds on hand, yet many deductions
are sought to be made from time to time, as
If that publication gave liabilities and assets
and not merely the condition of the debt.
The only items of cash in the Treasury
which the debt statement include are the
general currency balance and the general
coin balance. The currency balance us 1t
appears in the monthly statement, under
the item "cash in treasury, currency" is
simply the amount of currency that would
be left in the Treasury after the payment of
all currency demands in full, and SO also of
item " cash in Treasury, coin." There is in
addition the amounts held for redemption
of Clearing House certificates and coin
certificates, of which the amounts outstand-
ing are noted in the statement, besides
which, not mentioned, there are funds to the
credit of the disbursing officers for redemp-
ton of notes of national banks failed, In
liquidation, and reducing circulation, to
meet outstanding checks and drafts for the
benefit of creditors Of national banks, the
balance of the five per cent. fund and
others.
A comparative statement is given show.
ing in detail, both in coin and currency, the
liabilities and assets of the Treasury on
September 80, 1876 and 1877. These aggre.
So, $780, 05; September 80, 1877, ei3s,5S5,.
or; currency, September Cd, i5f6, $1UUr
437, 1853 September 50, 1877, $f10,096, 0S5.
Regarding the long mooted question
whether legal tender notes deposited for
redemption of circulation of failed, reducing
and liquidating banks, are held as a separ
ate fund, it may be said that there is a pro
vision of law which requires that such
notes should 80 be held, and as a fact they
have meyer beer. held Bet apart and distifisl
from other finds in the Treasury. There
is without doubt, in the various Offices and
vaults in the Treasury, o sufficient amount
/ of TTptkad Gkakau nnfao IN radaap, oil urob
bank notes if presented simultaneously fol
redemption, but they are not always in the
vaults Of this office Where redemption is re
quired to be made.
recapitulation of silver payments mad
in pursuance of the act of April IL, 1876, in
Guiding payments from April IS, 1876, unit
and including October, 1877, shows an ag
gregate Of $23, 164.162 of silver Issued fol
fractional currency redeenjedand destroyed
and $13,464,569 Of silver issued in lieu of, Oh
in exchange for currency, making a total O.
$36, 500, 1882. Upon official estimate of IS,
0S3,573, fractional currency lost in circula
ton, there may be still issued before thu
limit of $50, Doc 1000 is reached; $10,26 ,061
in exchange for fractional, and $3,110,20
for currency obligation.
There was d decrease Of $27, 900, 108 in re
turned legal tender notes during the year
besides which there was a reduction in tn,
volume of United States paper money yer!
marked, leaving outstanding all circulating
paper issues of the government at $3.50, 627,
976 at the close of the f~isealyear, being les
than at any time since 1862. The volume o
legal tender notes and of fractional cur
rency is also less than at n time sine,
1862. There was presented during the yea
for redemption Counterfeit national banl
notes amounting to S14,563, including de
nominations from 800 down to $40; ais
counterfeit legal tender notes and fractiona
currency to the extent of $19,661, including
all denominations oflegal tenders, but NOR
of the denomination of $50 than any other
The national banks have paid duty amount
ing to $76,762,0S7 during thirteen calenda
! years from 1864 to 1877.