The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1880-12-03
Report of the United States Treasurer.


From the annual report of United States
Treasurer Gilfllan it appears that the receipts
Of the Government compare very favorably
with those of the previous fiscal year, and show
an increase from the customs, internal revenue,
and sales of public lands of $50, S11 sos, and
q decrease in those from miscellaneous sources
Of only S112079. The expenditures. show
slight increase of $685., OLA in the aggregate as
compared with the previous fiscal year. caused
by an increase of S22 1896, 040 in payments on
account of the Interior Department, but show
a decrease of S2l.699,965 in expenditures for
interest and premium on the public debt, on
civil and miscellaneous accounts, and for the
War and Navy Departments.
The balance of public money on deposit in
the treasury, and subject TO draft at the close
of business June 30, 1879, was $4l7, 223, 1871.
The receipts during the year from all sources
amounted to $49l, SIS, 241. and drafts paid
sos, 100, 900. After deducting receipts prop
ery refunded and outstanding drafts, there
was subject to draft at the close of business
June 80 1880, $204 683. S36, which differs from
the dobt-statement balance by 50. 595,2l3
which is explained in the appendix. The busi-
ness of the Government involved the transfer
during the year of 81 ,053 357, 0S2. the greater
portion through the medium Of accounts of
this office, and the remainder by the actual
! transportation Of funds.
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during the year; five failed and twenty-one
went into voluntary liquidation, leaving 2, l02
doing business.
The amount collected from national banks
by the Treasurer Of the United States for semi
annual duty accruing during the year was
$751; no. The total amount collected during
the existence of the natlonal-bank system is
300. 361 1862
The report embodies statement Of the LA
bilities and assets of the treasury for the years
1877, 1875 1879 and 1880, from which 1t APP
pears that the gold and silver coin and bullion
ranged from $114, AGA, 9S2 in 1877 to 1853, $685.
IA in 1873, to 1922, 807 1868 in 1879, and to
/ 1914, 303, 215 in 1880. The decrease of 50, $780,
600 between 1879 and 1880 is represented by
the reduction in the gold balance of S34 600, 000
and an increase in the silver coin and bullion
on hand. The influences tending to the de-
crease of the gold balance have been primarily
the scarcity OF notes, compelling payments of a
daily balance to the New York Clearing House
in gold coin. There has been but small
amount of United States notes and gold certifi-
Gates presented for redemption in gold coin.
There has been during the year an increase in
the silver coin of SIS, 1877, $40 in standard dollars
and of $7,S49, 1914 in fractional silver coin.
Note assets. including balances due from de-
pository banks. have decreased from -1O7, 664 2S7
1877 to 3.417, 292 in 1873, to 963. 926, 653 in
1879, and to $40, 400, 314 in 1880. The steady
decrease, the Treasurer says. is due in great
!
the presentation of clearinghouse certificates
for redemption, the amount of these certif-
Gates outstanding having been reduced from
S3l 1896, 900 in 1879 to S9N5, 900 in 1880.
Another reason for the smallness of the note
balance, Mr.. Gillian adds. may be found in
the falling off in the notereceipts, the revenues
of the Government now being largely paid in
! coin and silver certificates.
From the tables of assets and liabilities of
the Government for Nov. 1, 1879, and Nov. 1,
| $780, 1t is shown that on Nov. ], 1879, there
were S151, Oi7, 044. and on Nov. ], 1880, there
were Sal ,597, 03l.61 available for resump-
ton. The amount of gold coin and bullion
III the treasury Jan. l, 1S79-the date of the
resumption of specie payments-was $780,
382,639 and at this date-Nov. lit
is $40, 725, 952, and in addition there have
accumulated in the treasury $47.0S4, 459 in
standard si;yer dollars. THIS redemption of
United States notes in gold since the resump-
ton of specie payments has aggregated SILL
| 963.336. Since the order of the Department of
Jan. 1, 1879, authorizing TIN" receipt of United
States notes for customs duties, there have been
received on that account $li2. 323,601.
The total coinage of standard silver dollars
under the act OF Feb. 2S 1878. has been $72,-
SAT, $50. OF this amount $47, 5Ss, log are in the
treasury and in the minis, and $25, 1904,
being more than 81 Is per cent. of the coinage,
are III circulation.
Tho Treasurer instances banks which have
|
ton to the former amount with the avowed OBJ
ject OF relieving themselves from the trouble
and expense OF redeeming their notes through
the redemption agency, as required by law. and
says at plain that such transactions AZ these
are not within the spirit of the act of june
20, 1874. That act authorizes the de-
post of legal tenders by any national
bank desiring to withdraw its circulation
! in whole or in part. A wish to surrender
circulation, with the reserved intention of
taking out more at once, or "a soon as a 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. II could neither have been intend
ed nor expected that the law would become the
means OF enabling banks to operate in securi-
ties of the Government deposited 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 full circulation
to which the law entities them"
FALSE fronts of shirts, vest and coat
are now furnished corpses by the New
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