The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1880-12-02
DEPARTMENTAL.
Reports of Uffic GERS of Several Government
Bureaus

bureaus.
WASHINGTON, Nov OF. ON The annual
report Of the United States treasurer it ap-
pears that the receipts of the government
compare very favolably with those of the
previous fiscal year, show en- increase from
customs, internal revenue and sales of public
lands OF S59,311, sos, and a decrease in those
from miscellaneous sources of only $112,-
O79. The expenditures show a eight in
crease Of $685., 074 in the aggregate as COM
pared with the previous year, caused by
the increase CT 500, 5000 in payments on
account of the interior department., but
show g decrease of 1921, 693965 in expendi-
lures for interest amt premium on the pub
Iio debt, on civil and miscellaneous
accounts. and fox the war and navy depart
ment. The balance of tho public money on
deposit in the treasury, and subject to dra #
at the close business, u une 80, 1873, was $417,-
$685. 1877. The receipts during the year from
ell sources amounted to $474,078, 244, and
the drafts paid sos, $780, 900. After deduct.
ing the receipts properly ref lnded and out
standing drafts, there was subject to draft at
the close of business June 80, 1880, $2O4.-
683, 1886, which differs from the debt state
ment balance by $3.595,2l3 which is ex-
planned in the appendix. The business of
the government involved transfers dur
ing the year of $l1 ,043, 1857 1928, the greater
portion through the medium of accounts
of this Office, ard the remainder by actual
transportation Of funds. Fifty eight national
banks were organized during the year, Eve
failed end twenty one went into voluntary
liquidation, leaving 2,1O2 doing business.
The amount cole cted from national banks
by the treasurer OF the United States for
semi-snnual duty aocruipg during the year
was So, 591, no.. 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 18s7-78-79 and 1880, from
which it appears that gold and silver coin
and bullion ranged from $114,464,382 in
1877 to $163, 969,444 in 1873, to $222,8O7,-
1868 in 1879 and 1914 300, 215 in 1880.
The deorease of SO $500, 900 between 1879
and 1880 is represented by the restriction in
the gold balance of 1884 100000 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
tifoates Pre- sented 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 $7,-
349,994 in fractional silver coin. Note
The assets, including balances due from de-
pository banks, have decreased from $1O7,-
664, 287 in 1877, to $93.417,2S2 in 1873, 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 1881, 335, 900
in 1879 to $9,975,O0O in 1880. Another rea-
son for the smallness of tho notes balance,
MIR. Gilfillan 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. I, 1880, it is shown that on Nov. l,
1879, there were $15l, O41 .O44 and on Nov.
I, 1880, there were $141, 597 ,O13. 81 available
for resumption. The amount of gold
coin and bullion in the treasury Jan. /,
1879, the date of resumption of specie pay
ment was $135, 1872 $3.50, and this date, Nov.
j, 1t is $40, 725,952. and in addition there
459 in standard silver dollars. The redemp.
ton of United States notes in gold since the
resumption of specie payments have aggre-
gated $11, 1863, 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, $50. OF this amount $47, $685.
LOG IRE in the treasury and In the minis, and
1926, 259, GA, being more than 34s55 per cent.
of tho 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 redeenAing
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 20, 1874. That act
authorizes the deposit of legal tenders by
any national bank desiring to withdraw it's
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 lev contemplated. :.
could neither have been intended nor tx-
pected that the law would become q means of
enabling the banks to operate in securities
of the government,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 30th of June
there were 25,0S2 persons receiving pensions
from the government. The annual pensions
average $103, an aggregate for all Of $780,
271 ,9O6, exclusive of arrears Payments for
the year amounted to 7,O46, 1856, of which
$12,46e, l91 was accrued pension in new
cases. The total amount paid out for PEN
sions during the year was $751;
o2G,994. Commissioner Bently estimates
it will require upwards of
$5O,OOO,0OO 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 $500. A table is
given showing the number of pensioners
=