Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1880-12-02
Treasurer-GIlalIan,s, Report
WAsH1NaroN. November e.


WASHINGTON, November q.
FROM the annual report of United States
Treasurer Giltillan 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 $59.s11.-
505, and decrease in those from miscellane-
GUS sources of only $1l2,079 The expendi-
lures show a slight increase of s6a507f in the
aggregate as compared with the previous f1s-
cal year, caused by an increase of S223l5, 040
in payments on account of the Interior De-
partment, but show a decrease of $2l 1886, 965
in expenditures for interest and premium
on the public debt, on civil and miscellaneous
accounts, and for the War and Navy Depart
ments.
The balance of public money on deposit in
the Treasury, and subject to draft at the close
of business June co. 1879, was S417, 223 1877. The
receipts during the year from all sources
amounted to $494, 57S 24l, and drafts paid S7Os-,
le0,9C0. After deducting receipts properly re-
funded and outstanding drafts, there was sub
ject to draft at the close of business June co.
1880, $20i, 6s3, $3.50, which differs from the debt
statement balance by $685., 213, which is ex-
planned in the appendix. The business of the
Government involved the transfer during the
year of 81, 53357, 082, the greater 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 z, 102
doing business.
The amount collected from National Banks
by the Treasurer of the United States for
sem-annual duty accruing during the year
was s., 59l,770. The total amount collected
during the existence of the National Bank sys-
tenn is S100.361 1859.
The report embodies statement of the liza
bilities and assets of the Treasury for the years
1877, rs, 70 and 49, from which it appears that
the gold and silver coin and bullion ranged
from $1144 1852 in 1877 to S163 969, IA in 1873
to $222 S0 1868 in 1879 and to $214 1903 215 in 1880
The decrease of SS,500,000 between 1879 and
1880 is represented by the reduction in the
gold balance of $34, OOO0 900, and an increase in
the silver coin and bullion on hand. The in
f1uences 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 Totes and gold certificates presented
for redemption in gold coin.
There has been during the year an increase
in the silver coin of $15, $40 in standard
dollars, and of $3.50, 1874 in fractional silver
coin.
Note assets, including balances due from
depository banks, have decreased from $107,-
664, 2s7 in 1877 to s93 in 1873, to s63 653
in 1879, and to 81, 1914 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 certifi-
Gates outstanding having been reduced from
$31 35 coo in 1879 to 9,975 900 in 1880. Another
reason for the smallness of the note balance,
Mr. Gilfllan adds, may be found in the falling
off in the 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 November l, 1879, and No
vember ], 1850, it is shown that on November
l, 1879, there were $l5l, 047 ,044, and on Novem-
Der l. $780, there were $141, 5g7, 03l.61 available
for resumption. The amount of gold coin and
bullion in the Treasury January 1, 1S79-the
date of the resumption of specie payments
was $135, 1882, $780, and at this date-November
it is s14O 7225, 95a, and in addition there have
accumulated in the Treasury $47,0s4, 459 L.
standard silver dollars. The redemption of
United States notes in gold since the resump-
ton of specie payments has aggregated ST.
963,338. Since the order of the Department of
January l, 1879, authorizing the receipt of
United States notes for customs duties, there
have been received on that account Sl42 323, COL.
The total coinage of standard silver dollars
under the act of February %, 1878, has been
$72,47,7 $50. OF this amount S56,5SS, 1O6 are in
the Treasury and in the MINIS, and SIS 2259, 644,
being more than 34as per cent. of the coinage,
are in circulation.
The Treasurer instances banks which have
reduced and forthwith increased their circula-
ton to the former amount with the iavowed
object of relieving themselves from the trouble
and expense of redeeming their notes through
the redemption agency, required by
law, and says: "It is plain that such
transactions these 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, as soon fall
in the price of bonds shall make the transac-
ton profitable, is not, it is submitted, such a
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"