Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1879-11-28
Annual Report Of the United States
Treasurer.
WASHINGTON, Nov. 1s.
The annual report of United States
Treasurer Gilfllan says;

WASHINGTON, Nov. 1s.
The annual report of United States
Treasurer Gilfillan says;
The aggregate of gold coin and bullion and of
silver coin and bullion including standard silver
dollars, which, being coined under the act of
Feb, 2S 1873 do not appear in the statement prior
to that year, is shown to have increased from
561 452 426 in 1879 to STA 9s2 in 1877 to Sl69-
969 444 in 1873, and to $22S07 1888 in 1879 The de-
crease in the aggregate note assets including cred
its in depository banks other than loan account,
is shown to have been gradual, the apparent in
crease in 1877 being due to the failure of the
of funds consequent upon withholding payment
of that branch of the service. The note assets
ranged as follows on the above dates In 1876,
S9S il9 685; in 1877, Sl7 664 S7 in 1873, SsS IT,
800 and in 1873 S59, 500 090. The decrease in the
note balance arises from various causes notably
from the receipt for customs and internal reve-
nue. of coin paid out in the purchase of bullion
for coinage of standard silver dollars; from ex-
change of notes for gold and payment of notes
for foreign gold received at the Assay Office,
New York; from the purchase of gold bullion
with notes and the payment of interest upon the
public debt in United States notes. and from the
payment of arrears of pensions.
The most constant influence in the decrease of
the note balance, is that which proceeds from
the purchase of silver bullion for coinage, there
by depriving the Treasury of an equal amount
of note receipts. All the above mentioned causes
of diminution, except this, can be controlled by
the department. Since resumption, however,
the Treasury is deprived, by the receipt of coin
paid for bullion of like amount Of United
ASA .6'e@AA'A OA'@NNN@
States notes, amounting, probably to seven per
cent. of the annual revenues. The percentage is
greater than the margin between public receipts
and expenditures, and will in time, without the
other influences mentioned, render the balance
in the Treasury first exclusively metallic and
then exclusively silver That this is 30, glance
at the monetary operations of the Government
will show. The annual receipts from all sources
are 24 100000; of this amount at least S4 600 600
is in silver dollars in silver certificates, that
being the minimum paid annually for silver
bullion for coinage which amount speedily finds
its way into the Treasury the more certainly be-
cause payments for bullion are made either at
New York or San Francisco, which are both CEN
ters of large receipts by the Government
oi ne od a net bS6 h2Ee TeSepts are shen M
$267 0000 00d for general expenditures interest ON
the public debt war and navy establishment
and pensions made in notes, or If made in coin
its return decreases the note receipts to that
tent. The excess of note expenditures over note
receipts is therefore .Sl7,00,OOO, which is the
annual decrease of note balance from
silver coinage alone The Treasurer says unless
the rules of the New York Clearing House are
changed so as TO permit payment by the Treas
ury of all or certain percentage of balances, in
silver, it may become desirable for the Treasury
to withdraw from relation which renders over
S30IOG0Q'O0O of lawful money IN its vaults una
greatest public disbursement.
The silver bullion on hand has decreased dur
ing the year from 50 694 034 to "a 4299 l24 on ac-
count of the difficulty in making purchases, as
prescribed in the act of Feb. 1s, 1873, at the
market rate, which is held by the Department to
be the equivalent of the London rate.
A considerable portion of the report is devoted
to the subject of resumption of specie payments
and refunding operations.
During the year there were redeemed SA107-
S33 worth of United States notes of all denomi-
nations. The total coinage of standard silver dol
lars under the act of February 2S 1873 is $45 206
30 of which amount S92 203, 25S is in mints and
Treasury offices and S13 002 S42 in circulation be-
ing &i4 per cent. of the total coinage as against
S4,922,623 in circulation at the same date last
year, which was 26 $40 per cent. of S1S,2825OO,
coined at that time.
Mr. Giltllan expresses the opinion that the
rapid appropriation of silver bids fair to solve
the silver problem for this country. He says
there are Indications, if the present influence
continues that it may attain nearly to its former
relation to gold, or at least approach to parity
Herewith.