The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1881-11-26
NATIONAL FINANCES,

M lONhL ANhNNIos
If the national financial reports are reli
able index, the past year has been one Of eX
ccptlonal prosperity to this country. The un
paralleled seemed to be of constant recurrence
The governments excess of receipts over ex
penditures was $lOO,0OO0O0, at least $l0,OOO
600 in excess Of any previous year; the inlern.
al revenue receipts were in excess OF previous
years, 30 were customs receipts, the reduction
value of the currency IN circulation the high.
est ever known in our country's history.
BY the U. s. Treasurer report, just publish.
ed, we also learn that the increase IN surplus
revenue over that of the previous year amount
ed to 1874, 1S5,751. The balance in the treasury
was enlarged $4S, 667, SOB, or from $2O3 79l 1921
to $3.50, 1925. The governments gross as.
sets, including the funds held for the redemp.
tion OF gold, silver and currency certificates,
are 1891 1851 ,2l0, having increased more than
$64,000,0O0 during the last yea, and being
now larger than on the corresponding date of
any year since 1878.
Concerning the national banks, during the
year fifty.four new ones were organized, and
twenty went into voluntary liquidation, but
not one failed AT the close Of the year the
number dong business was $780, while the
treasurer held in United States bonds $780,.
sos, 900 as security tor their circulation, and
$l5,295 500 more AZ security for public depos,
Its in national bank depositaries OF United
States bonds $S5, 304,0 $50 worth were retired in
the twelve months. This makes the aggre.
gate amount of retired bonds by purchase, re-
demption and otherwise, from March II, 1869,
to September 30. 1881, $l,9S3,344SOO. Speak.
ing of the condition OF the treasury, the re-
port says:
Comparing the condition of the treasury,
September 80, 1881, with its condition on the
same day last year, the most striking changes
are the increase in the gold coin and bullion
and standard silver dollars on hand, and in
the silver certificates outstanding. Deductlng
the gold certificates actually outstanding the
gold belonging to the government on Sepem-
Der 80 OF the last four years was $l12, 602 622..
20 ia 1878, $l54,9S7 ,37l.20 IN 1879, $l2S, l60,.
OS577 in 1880 and l59,552, 7464l in 1881 In
1880 the gold ran down nearly $27, 100000, but
tnlS ucCTehSc was muCu IubTt tuuu OyGTCDIUc
in 1881, when it increased more than al ,000,-
900, reaching the highest point ever attained
The gross amount Of gold and silver coin and
bullion held by the treasury without regard to
the obligations outstanding against it has rang
ed from $lG3 9G9, Al 70 IN 1878 to 1922, S07,.
36S0l IN 1879, 1914 ,3032l5.3S in 1880 and
$3.50, FOG, 99S G6 IN 1881 The increase within
the last year has been $50, 100000, of which
800, 10000 is in the gold and $l6, 900 in
the silver. The increase in the gold has been
greater and IN the silver less in the last year
than in any year since the coinage of the stan.
dard dollars began.
The total amount Of standard silver dollars
coined under the act of February %, 1878, Is
sos, 322 ,705, of which nearly one-third Is now
IN circulation; while the bulk of the rest is
represented by silver certificates in circulation.
The treasury reserve held for the redemption
of United States notes is maintained at about
40 per cent. of the notes outstanding, and this
reserve Mr.. Gitillan regards rs ample to meet
any financial emergency, though of such an
emergency there now appears no probability.
These are the main features of the treasurer s
report which is well said to be one of the
most remarkable it has ever fallen to the lot of
any government to make.