The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-11-19
WASHINGTON.
AununI Reports Of Treasurer elIalIan and
P. n. General Key. lia
Iul.r.s.luu Statistics Concerning Both Do.
partmsatP.

uual report OF U. s. Treasurer GilRllar
saws The aggregate Of gold coin anC
bullion and Of silver coin and bullion, in
cludiug the standard silver dollars, Which
are being coined under the act OF Febru
My21, 1873, do not appear in the state
men. prior to that year, Is shown 10 have
increased from $Sl 49,, 400 in 1876 to STA.
4Gi,9s2iu 1877, to $l6S, 1903, ~ in 1878, and
to $2!2 sol 1868 in 1879. The decrease in
the aggregate note assets, including
the credits in the Depository banks on
other than loan accounts Is shown to have
been gradual, the apparent increase in
1871 being due to the failure OF the army
bill to become law, and the accumula.
ton Of funds consequent upon the with
holding OF payment 10 that branch OF
the service. The note assets ranged as
follows: on the above dates in 1876, $685..
4l96Sj in 1877, Sl07 ,684, ,2S7 in 1878, SSS,.
1850, and 1879 $5S, ,390, ,0sO.
The decrease in the note balance arises
from various causes, notably from. the re.
ceipt for customs and internal reyenuepf
coin paid out in the purchase Of bullion
for the coinage OF standard silver dollars;
from the exchange Of notes for gold and
the payment Of notes for foreign gold re.
Ceiyed at the Assay Office OF New York:
from the purchase Of gold bullion with
notes and the payment of interest upon
the public debt 10 the United States notes,
apNf fen hn FNaN a. ma nj ~,
The most constant influence in the de-
crease Of the note balance is that which
proceeds from the purchase OF silver bull
lion in coinage, thereby depriving the
Treasury Of an equal amount Of note re.
cetpts. All the above mentioned causes
Of diminution, except this, can be con.
troIled by the department.
Since resumption, however, the Treas
uFy is deprived, by receipt Of coin paid for
bullion, Of a like amount OF United States
notes, amounting probably to per cent,
Of tue annual revenues. This percentage
ls greater than the margin between the
public receipts and expenditures, and will
in time, without other Influences mentions
ed, render the balance in the Treasury
frt, exclusively metallic and then ex.
clusiveIy silver. That this is so glance
at the monetary operations OF the Govern.
meut will show. The annual receipts
from all sources are S2T4, ,00O, 900 Of this
anount, atleast 81, 900 900 isin silver dol.
lars or in silver certificates, that being the
minimum paid annually for silver bullion
for coinage, which speedily finds its way
into the Treasury. The more certainly
because payments for bullion are made
either in New YORK or San Francisco,
which are both centres Of large receipts
BY the government. The maximum net
rate Of receipts are then $3.50, ,0OO, 900,
against which are payments OF S2S7, ,0O0, 600
for general expenditures, interest on pub
lie debt, war and navy establishment and
pensions made in notes, or il made in coin
Its return decreases the net receipts to that
extent. The excess ot note expenditures
over note receipts is therefore $l7, ,OO0, 600,
which is the annual decrease OF the note
balance from silver dollar coinage alone.
The Treasurer says that unless the rules
Of the New York Clearing House are
changed 80 as to permit the payment Dy
the Treasury OF all or certain percentage
OF the balances in silver, it may become
desirable for the Treasury to withdraw
from a relation. which renders over thirty
millions OF lawful money in It's vaults un.
available for payment at New York, the
point OF the greatest public disbursement.
The silver bullion on hand has decreased
during the year from s., ,6S4, ,OS4 to 81, ,2oo,-
l94 on account OF the difficulty in making
the purchases as prescribed in the act Of
February 2Sth, 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 the resumption
o. specie payments and refunding opera.
tons. During the year there were re.
deemed S64, l07 1888 worth OF United States
notes Of all denominations. The total
coinage OF standard silver dollars under
the act OF February %, 1878, is $45, zoe, 200,
ot which amount s., ,?0S, ,35S is in the mints
and Treasury offices and SIS, ,002, ,S42 In
circulation, being 2S3 per cent Of the total
coinage, against 81, ,V22 ,823 in circulation
at the same date last year, which was
y 9lO per cent Of the SIS, ,2S2, 500 coined
al that time. EaI
Mr., Gilhllan expresses the opinion that
the rapid appreciation OF silver bids fair
to solve the silver problem for this coun-
Try. lie says there are indications, il the
present influences continue, that 1t may
attain TO nearly its former relation to gold,
or at least approach to par Herewith.
Postmaster Generals Report.
The annual report Of Postmaster Gen
eral Key is madepublic cto-day. A large por-
ton Of tits devoted to the presentation Of
statistics, information already published
in abstracts OF reports Of his subordinates.
The Postmaster General renews the recon.
mendation contained in his last report,
Tor the enactment Of a law readjusting the
compensation OF railroads for carrying the
mails on the basis OF space, speed and fre.
quency, supplemented by weight OF mails
carried. The railroad companies have, as
u general thing, neglected to furnish sta.
tistics OF receipts, expenditures, &C., as
requested. The recommendation Is made
that the appropriation to enable the Post
master General to obtain proper facilities
tor the prompt transmission OF mails by
railroad be increased this year to 800, 600
The cost OF the railroad service on the
Goth day Of June, 1879, was at the rate OF
81, go, 500 per annum, an increase over
cost Of service during the preceding fiscal
year Of l25, ,995. This increase does not,
however, represent the actual rate of in-
crease in the service, as an account must
be taken OF the reduction OF 5 per cent in
the rate OF compensation, from July /,
1878, made under the act OF June II, 1873.
The amount OF this deduction Is in
round numbers, 100000, making with
Sl@5,995, an increase Of S525, ,095 for 1879
over 1873, being little less than 81 per
cent. The general increase of business
all over the country, and with reasonable
certainty, that present prosperity will
continue for some years, and will require
an appropriation for railroad service tol
the next fiscal year to be increased to Al
least $4,000, 900, and the estimate Is &C
Cardindly placed at that sum. The esti
mate for railroad post office and car ser
vice for 1881, is placed at 81, $50, 900.
The Postmaster General earnestly re
news the recommendation OF last year FOL
reClassidcation OF the employees OF th(
railroad mail service as advised by the
.