Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-11-23

| VASHINGIONs NOV. IHs-ErOm tn0 annual
report of the United States treasurer it ap-
pears that the receipts of the government
compare very favorably with those of the
previous fiscal year, show an increase from
customs, internal revenue and sales of public
lands of $59,811 800, and decrease in those
from miscellaneous sources of only $112,-
079. The expenditures show a slight in
crease of $685., 074 in the aggregate as COM
pared with the previous year, caused by
the increase of $22, 390,O4O in payments on
account of the interior department, but
show decrease of $21 ,699,965 in expendi-
lures for interest and premium on the pub
| lie debt, on civil and miscellaneous
accounts. and for the war and navy depart
ment. The balance of the public money on
deposit in the treasury, and subject to dra #
! at the close business, June 30, 1875, was $417,
223,7S7. The receipts during the year from
all sources amounted to 74,078, PA, and
the drafts paid $708, 10000. After deduct
| ing the receipts properly ref 1nded and out
standing drafts, there was subject to draft at
the close of business June 80, 1880, 1904,
683 1886, which differs from the debt state
| ment balance by So, 595, 213, which is ex-
planned in the appendix. The business of
| the government involved transfers dur
ing the year of $11, O43 1851, O2S, the greater
portion through the medium of accounts
of this Office, and the remainder by actual
| transportation of funds. Fifty eight national
| banks were organized during the year, five
| failed and twenty one went into voluntary
| liquidation, leaving 2,1O2 doing business.
The amount collected from national banks
hu no frao 0f no Tod
semi-annual duty aocruing during the year
was 81, 591, ITO. The total amount collected
| during the national bank system is $780,
361 ,419. The reports embodied in the state
ment of liabilities and assets of the treasury
for the years 1877-7S-79 and 1880, from
which it appears that gold and silver coin
and bullion ranged from $114,464, 1872 in
1877 to $163, 1868, 444 in 1878, to 1922 1907
36S in 1879 and 1914, 800, 215 in 1880.
The decrease of $8,500,O00 between 1879
| and 1880 is represented by the restriction in
the gold balance of 1884, 600, 600 and the in
| crease in silver coin and bullion on hand.
The influences tending to the decrease of the
gold balance have been primarily the scarcity
of notes compelling payments of the daily
balance to the New York clearing house in
gold coin. There has been but small
amount of United States notes and gold Ger
tificates presented for redemption in gold
coin. There has been during
the year an increase in silver coin of
$15,977,970 in standard dollars, and of ST.
849,994 in fractional silver coin. Note
The assets, including balances due from de-
pository banks, have decreased from $107,-
664, 287 in 1877, to $93,417,282 in 1878, to
| $63.926, 653 in 1879, and to $42,4O2, 348 in
1880. The steady decrease, the treasurer
says, is due in great measure to the with
drawal of notes caused by the presentation
of clearing house certificates for redemption,
the amount of these certificates outstanding
having been reduced from $3l, 1886, 900
| in 1879 to $9,975,000 in 1880. Another rea-
son for the smallness of the notes balance,
Mr.. Gilfllan adds, may be found in the fall
ing off in note receipts, the revenues of
the government being now largely paid in
coin and silver certificates. From the tables
| of assets and liabilities of the government
| for Nov. 1, 1880, it is shown that on Nov. 1,
1879. there were $151, O41. O44, and on Nov.
1, 1880, there were $14l ,597 ,O13. 81 available
for resumption. The amount of gold
coin and bullion in the treasury Jan. 1,
1879, the date of resumption of specie pay
ment was $135, 49,. 639, and this date, Nov.
1, it is $40, 725, 1852. and in addition there
have accumulated in the treasury $4,000,
459 in standard silver dollars. The redemp-
ton of United States notes in gold since the
resumption of specie payments have aggre-
gated $11 1868 1856. Since the order of the
department of January, 1879, authorizing
the receipt of United States notes for GUS
tom duties, there have been received on that
account $142,323,6O1.
The total coinage of standard silver dol
lars under the act of February %, 1873, has
been 72,S47,75O OF this amount $47 $685.
LOG are in the treasury and in the mints, and
1926, 259, 644, being more than 3425 per cent.
of the coinage, are in circulation. The
treasurer instances banks which have re-
duced and forthwith increased their circula-
ton to the former amount, with the
avowed object of relieving themselves
from the trouble and expense of redeeming
their bonds through the redemption agency
as required by law, and says it is plain that
such transactions as these are not within the
spirit of the act of June co. 1874. That act
authorizes the deposit of legal tenders by
any national bank desiring to Withdraw its
circulation in whole or part. A wish to sur
render circulation with the reserved intention
of taking out more at once or taking out
as soon as the fall in the price of bonds
shall make the transaction profitable is not,
it is submitted, such desire to withdraw
circulation as the law contemplated. It
could neither have been intended nor ex-
pected that the law would become means of
enabling the banks to operate in securities
of the governments or designed to secure the
redemption of their notes, or to throw upon
the United States or other banks of the coun-
try the expense of redeeming their notes,
while maintaining and enjoying the free cir
culation to which the law entities them.
PENSIONS.
The annual report of the committee on
pensions shows that on the Both of June
there were 25,OS2 persons receiving pensions
from the government. The annual pensions
average $103, an aggregate for all of $780,
271 1905, exclusive of arrears. Payments for
| the year amounted to $37, 046, 1855, of which
$50, 468, 1911 was accrued pension in new
cases. The total amount paid out for pen
sions during the year was $751;
026,994. Commissioner Bently estimates
| it will require upwards of
$5O,OO0,000 to pay pensions for the current
year. The number of cases in which arrears
of pensions have been allowed up to Novem-
Der 1, the date of the report, is 43,907. The
average in each case is $3.50. A table is
given showing the number of pensioners
gone on the rolls at the end of each fiscal
4