The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1880-12-03
Report Of the United states Treasurer.

Report Of the United States Treasurer.
WASHINGTON, November y.
FRON the annual report Of United States
Treasurer Gillian it appears that the receipts
| of the Government compare very favoIably
with those of the previous fiscal year, and
show an increase from customs, internal
revenue and sales OF public lands of $5as1l.-
5O5, and decrease in those from miscellane-
GUS sources Of only S1l20s9. The expendt-
| lures show q slight increase Of $61i.074 in the
aggregate es compared with the previous fis-
cal year, caused by an increase of $2,s,30.OaO
in payments on account of the Interior De-
partment, but show o decrease OF 21.699.9 So
in expenditures for interest and premium
on the public debt, on civil aud 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 20, 1872 was $Als,sssa,7s7. The
receipts during the year from all sources
amounted to $40, SIS pa. and drafts paid $7Os'.
1890. After deducting receipts properly re-
funded and outstanding drafts. there was sub
ject to draft at the close Of business June 20.
1850, $s0l, 6Sa S6. which differs from the debt
statement balance by $s5a5,2l3 which is OK
planned in the appendix. The business OF the
Government involved the transfer during the
year of $ll,OJl357,O Ss. the greater portion
through the medium Of accounts of this Office,
and the remainder by the actual transpOrt0-
ton of funds.
Fifty-eight National Banks were organized
during the year, five failed, and twenty-One
went into voluntary liquidation. leaving 2,l0s
doing business.
The amount collected from National Banks
H,xvH oRt bn Tnit ~ Ctotn FO
semi-annual duty accruing during the year
was S7,53l,77O. The total amount collected
during the existence of the National Bank sys-
tenn is $lOO36l 1852.
The report embOdies statement of the liza
bilities and assets of the Treasury for the years
1877, IS, 10 and 80, from which it appears that
the gold and silver coin and bullion ranged
from $114464, 9S2 in 1917 to 1853, 9,4A in 1875
to $222 So, 1853 in 1872 and to $2l4 2i5 in 1880
The decrease of $s,5C6.OoO between 1879 and
1880 is represented by the reduction in the
gold balance of $54 900, and an increase in
the silver coin and bullion OH hand. The in
huences 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 $751; 80 in standard
dollars, and of $7,Si9,99a in fractional silver
coin.
Note assets, including balances due from
depository banks, have decreased from $lO7,-
ga :,s7 in 1877 to $9 2Ss in 1873 to Ss 653
in 1879, and to 81, 402:,3i 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
$3l SS5, OOO in $50 to S3915.OO in 1881 Another
reason for the smallness of the note balance,
MIR. Gilfillan adds, may be- found in the falling
OF 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, 1873, and No
vembcr ], 1880 it is shown that on November
l, 1879, there were $l5l ,0i7 ,044, and on NOvem-
Der l, 1889, there were SILL ,G}l.61 available
for resumption. The amount of gold coin and
bullion in the Treasury January l. lS79-thc
date of the resumption of specie payments
was $l35, 3s2 $50, and at this datc-NOvembcr
it is $40, 125 d., and in addition there have
accumulated in the Treasury $i7,OS4.459 in
standard silver dollars. The redemption of
United States notes in gold since the rcsump-
tion of specie payments has aggregated SILL
!I;.SSG. 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 $i2, ssI sol.
Tbs total coinage of standard silver dollars
under the act of February u, 1878, has been
ST., s47, $50. OF this amount $58,5sS ,lO6 are in
the Treasury and in the MINIS, and 81, ss598 44,
being more than 34s5 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 avOwed
object of relieving themselves from the trouble
and expense of redeeming 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 legaltenders by
any National Bank desiring to withdraw its
circulation in whole or in part. A 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-
ton profitable, is not, it 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
notes while maintaining and enjoying the full
circulation to which the law entities them"
Pension Report
WASHINGTON, November y.