The People's vindicator. [volume] (Natchitoches, La.) 1874-1883, 1880-12-18
Report OF tho United States Tr,,s,,.-
w ASlilNGTOS. Nnyo,,,

Treasurer Gilhllan 1t appears tina, tho u, sm'es
OF the Government compare very f.rNNs
with those OF the previous fiscal vo.. "''y
show an increase frim cN,stoMi ;,,.s aAd
revenue and sales of public lanis Of a., ','
H'' AMI decrease in those from mis.ons'
Gus sources of only :lls,o.a. The cvra"M '
lures snow slight increase of s6.5o,l IL ,l''
aggregate as compared with the rre,;,", ,ue
cai year, caused by an increase Of Sa,",. ~
III payments on account Of the Interim ~
partmcn,. but show decrease Of 90, %. D We
IN expenditures for interest and momi ''o'
OH the public debt, on civil and mjsce,la , n.s
accounts, and for the War and Noyv na'
mcnts. 'p'r1'
The balance of puSi.c money on doDo,
the Treasury, and subject to draft a, tho oo ~
OF business June 20, 1879, was sll7 e. >' ~
receipts during the year from nj, so,,, .ue
amounted to St9l.''S..4l, and drafts Maid s.os
lM,"O. After deducting receipts proner,r v.
funded ard outstanding drafts, there wa. s, ~
tcct to draft ut the close Of business .y,,a y"
lsst. go, 6S3,xB. which differs from tn. ANY,
statement balance by $3.5N:l3, which il e y.
planned In the appendix. The bushes, q, -.
Government involved the transfer aorn. ~. ."'
year Of ell0SiSs,0S, the greater nos,; Wv
through the medium Of accounts Of this o,rs'
and the remainder by the actual trapsnou.
ton Ut funds.
Fitty.cight National Banks were orp,n,,,
during the year, five failed, and tw.n,v.os
went into voluntary liquidation LEARN: u ,Ss
doing business. ''%
The amount collected from Natons, R.r..
BY the Treasurer Of the United State, t s''
semi.annuai duty accruing dur!nv tho vo ~.
was $s,59l,s.O. The total amount co,oo,..
during the existence of the National. RAM sss
tenn is Sl0O.El.369.
The report e.nbodies statement Of the IL.
bilitics and assets OF the Treasury for tho yoo..
ls'::, -, '" and 80, from which II appears th"
the gold and silver coin and bullion r,roos
from s1l4,46i, vs. in 1877 to $lG3, IA in ,s.s
t. $50 ,so7s @S in 1879. and to SET, u, in ,ss
The decrease of Ss,jO,0O between ls.Y ,ns
1889 is represented by the reduction in INV
gold balance of S34.0D0, 900, and an increase ~
the silver coin and bullion on hand rhe IN.
Auences tending to the decrease Of tho vola
balance have been primarily the scarctr y,
notes, compelling payment of the daily lal.nca
to the New York clearinghouse in yod ,,in
There has been but small amount Of rni,os
States Lotcs and gold certificates presented
for redemption in gold coin.
There has been during the year an increase
in the silver coin Of Sl5,9,7,s,O in STANDARD
dollars, aiid Of $..Si3,33 in fractional! siror
coin.
Note assets. including balances duo FINN
depository banks, have decreased from s,r.
66i,sS. in 1917 to S,4l7,"s: in ISIS, to ssssss,,
In 1879. and to $4s,+9!,34 in 1850. The steady
decrease. the Treasurer says, is due IN rres,
measure to the withdrawal of notes caused by
the presentation OF clearinghouse certificate,
for redemption, the amount Of these ce,tia.
Gates outstanding having hccn reduced from
S3l, aa go in 1879 to $9,9;5OO9 in 1852. Another
reason for the smallncss Of the note balance
Mr.. GiIflllan adds, may be found in the f,Iur
on in the note receipts, the revenues q The
Government being now largely paid In coin
and silver certificates.
From the tables Of assets and Iiabities@
the Government for November l, 1873, and No.
vcmbcr ], 1850, it 10 shown that on November
!, 1879, there were elji, 0l., 04l, and on Noyeut
Der !, 1889, there were .l,5s.,o3i.sl available
for resumption. The amount Of gold coin and
bullion In the Treasury January J. IS,9-the
date Of the resumption Of specie payments
WIS tl3j,eSsssylR and ut this datc-No,cuberl
1t ID fl4O, 81, and In addition there have
accumulated in the Treasury *ss,Os4,4so Ia
standard silver dollars. The redemption Of
United States notes in gold since the rcsunv
ton Of specie payments has aggregated sllt
gCl.%H. Since the order OF tho Departmental
january |, lS.9. authorizing tho rcccip, Of
United states notes for customs duties. there
have been received on that account tti:,siGL
The total coinage of standard silver dolla1
under the act Of February ~. 1878. has been
$,2,s4.,,50. OF this amount $56,5ss,lt6 arein
the Treasury and in the MINIS, and 81, ss;iaA
being more than 3is. per cent. Of the coinage,
arc in circulation.
The Treasurer instances banks which have
reduced and forthwith increased their circula'
ton TO the former amount with the avoxed
object Of relieving themselves from thetrouble
aud expense of rcdecming their notes through
the redemption agency, as required BY
law, and says: ut is plain that such
transactions as these are not within toe
spirit OF the act Of Juno 20, 1874. That se
authorizes the deposit Of leyaltcnders BY
any National Bank desiring to withdraw 10
circulation in whole or in part. A wish to SUI
render circulation, with the reserved intoelon
of taking out more ut once, or as soon asa s4
In the price of bonds shall make the transas
ton profitable, is not, 1t is submitted such'
desire to withdraw circulation as the law con-
templates. 1t could neither have been iutene
cd nor expected that the law would become
the means Of enabling banks to operate
securities of the Government deposlled
secure the redemption OF their notes. oFw
throw upon the United States or other oan,
of the country the expense of rcdeeinne 'e sn
notes while maintaining and enjoying the sA
circulation to which the law entities them'