American citizen. [volume] (Canton, Miss.) 1864-1890, 1880-12-04
Report of the United States Treasurer.


H-iSfIiSGTON, November -.
| From the annual report of United Stat e.
| Treasurer Gillian it appears that the receipts
OF the Government compare very favorably
| with those of the previous fiscal year, and
| show an increase from customs. internal
| revenue and sales of public lands of S5g,sII,-
| 5tL5, and decrease in those from 1nisceianG-
| sources of only Sll2,0I9. The expendi
| lures show slight increase of $6}50.i in tho
| aggregate as compared with the previous fts-
| cal year, caused by an increase of S:,a.,;}s5 $50
| in payments on account of the Interior d =
| partment, but show Il deere asc of S2I.699 g6l
| in expenditures for interest and premium
! on the public debt. on civil and miscellaneous
| accounts, and for the War and Navy Depart
| mcnfs.
The balance of public money on deposit in
| the Treasury, and subject to draft nj the close
Of business June 20. 1879, was 1,a225, 1S7. The
| receipts during the year from all sources
amounted to Siai, PAL and drafts paid S70s-,
1890. After deducting receipts properly re-
funded ard outstanding drafts there was sub
jcct to draft at the close of business Juno 20,
1882 S20t, $3.50. which differs from tho debt
statement balance by S],5 3 2l3, which is ex-
planned in thenppendix. The business OF the
Government involved the transfer during the
year of Sl1,05s.357,0S2 the creator portion
through the medium of accounts of this office,
and the remainder by the actual transporta-
ton of funds.
Fifty-eight National Banks Were organized
during the year, five failed, and twenty-one
went into voluntary liquidation, leaving 3 l0e
doing business.
The amount collected from National Banks
by the Treasurer of the United States for
scmiannual duty aceruing during the year
was SI,59l,.70. The total amount collected
during the existence of the National Bank sys-
TEN is SiG0.36i,;69
The report einbodes statement of the lis
bilities and assets of the Treasury for the years
100
the gold and silver coin and bullion ranged
from S1lf464,9S2 in 1877 to S16396944i in 1878
to 81, eO1.3tS in liza. and to SILL BOB els in 1880
The decrease OF $4,000 between 1879 and
1850 is represented by the reduction in the
gold balance of S3f, Oo9. 600, and an increase in
the silver coin and bullion on hand. The III
fuences tending to the decrease of the gold
balance have been primarily the scarcity of
notes, compelling payment of the daily balance
to the New York Clearing House in gold coin.
There has been but a small amount of United
States Eotes and gold certificates presented
for redemption in gold coin.
There has been during the year increase
In the silver coin of Sl5,9.T,9.0 in standard
dollars, and of S7,S9,99i in fractional silver
coin.
Note assets, including balances due from
depository banks, have. decreased from $I01,-
6JiS7 in ISL. to SIS tlT,2S in ISIS, to S6 9,e 653
in 1919, and TO So, t2.JH in 1880. Tho steady
measure TO the withdrawal of notes caused by
the presentation OF Clearinghouse certificates
for redemption, the amount of these ccItih-
Gates outstanding having been reduced from
Sd, :r5 90 in $50 to Sg9,5,001 in 1881 Another
reason for the sJnailness of the note balance,
Mr.. Giifllan adds, may be found in the fallin..
of in thenoto receipts. the revenues of the
Government being now largely paid in coin
and silver certitcates.
From the tables of assets and liabilities OF
the Governm ent for November 1, Is1g and No
vembcr /, $50, it is shown that on November |
l, $50, there were Sl5I,0i.,04i, ana on Novem-
Der l. 1881 there were Sill, 5a. ,0SI.GI available
Tor resumption. The amount OF gold coin an! |
bullion in the Treasury January l, ISs9-thc |
late of the resumption OF specie payment !
was Sl3l, ;S2,65l and ut this date-Noycmbcr |
lit is SIG, IL, 81, and in addition there have
in the Treasury $iT,OS4,i59 in
standard silver dollars. The redemption OF /
United States notes in gold since the rcsump-
lion of specie payments has aggregated SILL
1886. Since the order OF the Depart ment OF
!. 1879, authorizing the receipt of
United States notes for customs duties there
lavc been received that account SIia. ssi. sol.
The total coinage of standard silver dollars
Inder the act of February 49, 1873. has been
s.2,Si7,150. Of this amount SJ6,5Ss, iC6 in
he Treasury and in the Mints and g., 253,6i4, |
'eing more than 3iss per cent. of the coinage,
ire in circulation.
The Treasurer Instances banks which have
educed and forthwith increased their circula-
ion to the former amount with the avowed
'bject of relieving themselves from the trouble
md expense of redeeming their notes through
he redemption agency, requrcds 10y
aw, and says: "It is plain that suci
rs these not within the
pirit of the act of June %, 1874. Thut act
authorizes the deposit of legal tenders by
my National Bank desiring to withdraw its
in whole or in part. A wish to sur
ender circulation, with the reserved intention
4 taking out more ut once, as soon as fall
n the price of bonds shall make the tIans &c
ion profitable, is not, 1t is submitted, such n
esire to withdraw circulation as the law con-
emplates. 1t could neither have been intend-
d nor expected that the law would become
he means of enabling banks to operate in
ecurities of the Government deposited to
ecurc the redemption of their notes, or to
brow upon the United States other banks ,
T the country the expense of rcdecming their
otes while maintaining and enjoying the fuU ,
to which the law entities them"