The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1879-11-27
Annual Report of the United states Treas
uerer.

The annual report of United States Treasur-
er Gilfllan says the aggregate of gold coin
and bullion, and of silver coin and bullion, in
| GLIDING standard silver dollars, which are being
coined under the act of February %, 1878, and
do not appear in the statement prior to that
year, is shown to have increased from SOL 49,
426 in 1876, to $114 ,464, 982 in 1877, to $780,
1863 IA in 1878, and to 1922, 807 1868 in 1879.
The decrease in the aggregate note assets, in
Guiding credits in depositing banks on other
than loan accounts, is shown to have been
gradual, the apparent increase in 1877 being
due to the failure of the Army Bill to become
a law and the accumulation of funds conse-
quent upon Withholding payment to that
branch of the service.
The note assets ranged as follows, on the
above dates: In 1876, $9s,419, 1885,; in 1877,
1907 1854, 287 in 1878, $S8, II, 800, and in
1879, S59, 699, OS0. g
The decrease in the note balance arises from
various causes, notably from receipts for
customs and internal revenue, of coin paid out
in the purchase of bullion for the coinage of
standard silver dollars, from the exchan ge
of notes for gold and the payment of notes
for foreign gold received at the Assay
Office in 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, thereby
depriying the Treasury of an equal amount Of
note receipts. All the above mentioned cause.
of dimunition, except this, can be controlled by
the department. Since resumption, however
the Treasury is deprived, by the receipt of coir
paid for bullion, of q like amount in u. S.
notes, amounting probably to Z per cent. of thu
annual revenues. This percentage is greater
than the margin between the public receipts ant
expenditures, and will, in time, without tn,
other influences mentioned, render the balanc,
in the Treasury, first, exclusively metallic ant
then exclusively silver. That this is so,
glance at the monetary operations of the gov
eminent will show.
The annual receipts from all sources ar
1874, 900, 900. Of this amount at least $24,
0O0, 900 in silver dollars or in silver certificates
that being the minimum paid annually fo
silver bullion for coinage, which amount speedil,
finds its way into the Treasury, the more Ger
tainly because the payments for bullion ar,
made either at New York or San Francisco
which are both centers Of large receipts by tn
Government.
The maximum net note receipts are, then
$3.50, 000, 900, against which are payments o
S267 ,O00, 900 for general expenditures, interes
on public debt, the War and Navy establish
menCS, anu peueiOus, d II HUGS, VI
made in coin, its return decreases the note re
ceipts to that extent.
The excess of the note expenditures over tn
note receipts is, therefore, SIT 200, 900, which
is the annual decrease of note balance iron
t silver dollar coinage alone.
t The Treasurer SAYS unless the rules of tn
, New York Clearing House are charged SO as t
permit the payment by the Treasury of all o
| a certain percentage of balances in silver,
may become desirable for the Treasury to with
I, draw from a relation which renders over $50,
000, 900 of lawful money in its vaults unavail
D able for payment at New York, the point of tn
greatest public disbursement.
The silver bullion on hand has decrease
during the year from So, 1874, O34 to q, 299, IL
on account of the difficulty in making pun