Ashtabula weekly telegraph. (Ashtabula, Ohio) 1880-1886, 1880-12-03

! WARRINGTON November -.
| BRoN the annual report Of United statei
treasurer Gildllan II appears that the receipti
Of the Government compare very favorabl,
| with those Of the previous fiscal year and
show an increase from customs, internal
revenue and sales OF public lands Of f5g.s1l,
! bOo and a decrease in those from misoellane
Gus sources Of only S1l2,0T9. The expendi
/ t1res show n slight increase Of s8g5,0l IN the
! aggregate as compared with tho previous fis
cal year, caused by an increase Of S22, 1925, ,0lC
In payments on account OF the Interior Dc
partment, but show decrease of S21.60o, ,o65
In expenditures for interest and premium
on the public debt, on civil aud miscellaneous
p9counts, and for the War AID Navy Depart
nehts. n AkA Nt,F
1he balance ofpubTc money on deposit in
tho Treasury, and subject to draft ht tho close
Of business June 60, 1870, WIS s4lI,223, ,TsT. The
receipts during the year from all sources
amounted to Si9l, ,57s,241 and drafts paid S7O8-
10000. After deducting receipts properly re-
funded and outstanding drafts, there was sub
teot to draft At the close Of business juno 20,
1880, 1901, ,053, ,s36, which differs from the debt
statement balance by s3,5q5213 which is ex-
planned In the appendix. The business of the
Government involved the transfer during the
year Of e1l,0j3357,Os2, the greater portion
through the medium Of accounts of this office,
and the remainder BY the actual transporta-
tion Of funds
Fifty-eight National Banks were Organized
during the year, Ave failed and twenty-one
went into voluntary liquidation, leaving ,lO2
doing business.
The amount collected from National Banks
by the Treasurer OF the United States for
Eemiannual duty aooruing during the year
was S7,59l,770 The total amount collected
during the existence of the National Bank sys-
tenn = slOO88l,969
The report efnbodies a statement Of the liza
bilities and assets Of the Treasury for the years
1877, 'Is, ~ and 80, from which It appears that
the gold and silver coin and bullion ranged
from Sll4,4649s2 In 1877 to S163,9 IA in 1873,
to 62 s07 96s IN 1872 and 10 s2ll 3O3 2i5 IN 1850
The decrease Of Ss,5OO,OOO between 1879 and
1880 e represented By the reduction in the
gold balance OF S34, 100000, and an increase in
the silver coin and bullion on hand The in
huenoes 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 q small amount OF United
States rOteG and gold certificates presented
for redemption I'm gold coin.
There has been during the year an increase
In the silver coin Of sl5,97T,97O in standard
dollars, and of S7,8i9,99l in fractional silver
coin.
Note assets, including balances due from
depository banks, have decreased from SlO7,-
664287 in 1877 to S93 72s2 in 1873 to s63 653
In 1879, and to 81, ,i02,3l4 In 1880. The steady
decrease, the Treasurer says, Is due in great
measure to the withdrawal of notes caused by
the presentation of Clearinghouse certificates
for redemption, the amount of these oertla-
Gates outstanding having been reduced from
S3l,535,OOO in 1879 to S0,975,OOO in 1880 Another
reason for the smallness of the note balance,
Mr.. Gilnllan adds, may be found in the falling
on in the mote receipts, the revenues Of tho
Gqvefnment being now largely paid in coin
md silver certificates. s
lFromthe fables Of assets aud liabilities OF
theGovefnmont for November ], 1879 and No
vember J, 1850, IL is shown that on November
J, 1879, thero we're sl51,Oi7,Ol4 and on Novem-
ber l, 1880 there were Sl4l, $50, ,03l.6l available
for resumption. The amountof gold coin and
bullion In the Treasury January l. lST9-tho
date OF the resumption of. specie payments
was Sls5, ,Bs2, ,63g and at this date--November l
1T is $40 ~, ,052, and In addition there have
accumulated in the Treasury s47,Os4, ,l5a in
standard silver dollars. The redemption of
United States notes In gold since the resump-
tion OF specie payments has aggregated SIl,-
s63,SjG. Since the order OF the Depart ment OF
january !, 1879, authorizing the receipt of
oeeAANo NAoNSu tlnADll1 QNlNlNtt AuGTe
hnvc been received on that account sl4s, ,;23 UOI.
The total coinage Of standard silver dollars
under the act of February 2s, 1878, has been
S72,647,750, OF this amount s56,5ss, ,lOe are in
the Treasury and in the Mints, and SIS, ,259,844,
being more than 3iH per cent. of the coinage,
are In circulation.
The Treasurer Instances banks which have
reduced and forthwith increased their oircula-
tionto the former amount with the avowed
object of relieving themselves from the trouble
and expense of redeemlng their notes through
the redemption agency, as required by
law, and says; ut is plain that such
transactions as these are not within the
spirit OF the act Of June 20, 1874. That act
authorizes the deposit of legal-tenders by
any National Bank desiring TO Withdraw its
circulation in whole or in part wish to sur
render circulation, with the reserved intention
Of taking out more at once, or as soon as a fall
in the price of bonds shall make the transac-
tion profitable, is not, 1t is submitted, such
desire TO withdraw circulation as the law con-
templates. 1t could neither have been intend
ed nor expected that the law would become
the means Of enabling banks TO operate in
securities of the Government deposited TO
secure the redemption OF their notes, or TO
throw upon the United States or other banks
of the country the expense of redeeming their
notes while maintaining and enjoying the full
circulation TO which the law entities them"