Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1884-12-04
Abstract of the Report of the
u. $. Treasurer.
Silver Driving Gold Out Of
Circulation.
Facts About the National Bank
Circulation.
The Treasurer's Report.

United States shows that the net rev
enues to the government was less
than in 1888 by $40 767 ZIP. ID acrease
in receipts from customs, $19 639, 007;
in receipts from internal revenue,
1923 1874, 296, and in receipts from mis-
cellaneous sources, s. S49, 24S From
This aggregate should be deducted an
increase Of 81, S54, $40 in receipts from
sales of public lands, leaving the net
reduction, IS stated above Net expen-
ditures aggregated $244. 1876, PA. De.
crease from amount in SO, S21, 281, 1913
The surplus applicable to the reduc-
ton of the public debt amounted to
$104 1893 625; decrease $28, 4S5, S1S
from that of the previous year. The
items of expenditures showing the de-
crease are as follows: On account of
war department, 50, 4S1, 779; interior
department, S1l 1863 1886; interest on
public debt, 81 ISL, 752 There was an
increase Of 81. 242, All in the expendi
lures account of the civil and miscel-
laneous, and 81, 009 1874 ia the expend-
lures account of the navy department.
The discussing officers of the United
States had to their credit on the books
of the treasury department at the close
of the year $22 1913, $50. The state
mept of assets and Liabilities for Sep
temher 80, 1884 shows that the gem
eral balance was reduced from 1853,
232 463 in 1888, to S139, 525 062 in
1885; reduction $13 707, 400. The ag-
gregate amount Of gold and silver
coin and bullion held by the
treasury increased from 1852. $40, 800
in 1883, to 1895, 216, 297 in 1884; in.
crease, $40, 705, 4S7. The gross assets
increased from 1856, 119, SIT in 1883 to
1919, 800, 249; increase $63, $50 431
from Nov LIST, 1883 to Nov 1st, 1884
Reserve decreased $t2,752. 255, or
from $3.50 1922, 545 to $143 070, 800.
There were nominally outstanding
at the close of the fiscal year silver
certificates amounting to 1920, S91,
691; increase, $32, 374, $50. During
the year the amount held by the treas
ury increased from SIS, 996, las to
500, 1854 $50, thus leaving actually
outstanding $97, 507, oil; actual in
crease, $24, $50, 325.
The amount of standard silver dol
lars coined to Sept 30, 1884, was
1882 380, S29, of which the
treasury held $]42, $40, 400. OF
this amount S97, 094, So was
for the redemption of silver certifi :
Gates outstanding The amount in
circulation was $39, sol, 953, or about
81 s per cent of the total coinage. AS
usual the amount outstanding reached
the highest point in December, when
it exceeded Sal, 900, 600, an aggregate
never before reached. The decrease
to June was not as great as in previous
years, probably owing to the scarcity
of one and two dollar notes, and on
September 30 the amount was $3.50, III
greater than on the same date in
1888.
Counterfeits of various kinds
amounting to 81, 900 were detected
during the year as a consequence of
the inability of the treasury under the
existing practice, to use either silver
dollars or silver certificates in
It's settlements with the New York
clearing house, whereby far the great
er part of its disbursements is made
available. Gold ran down from
$155 429, 600 on January /, 1884 to
$119, 479, 979 on August II, 1884,
while silver dollars and bullion on
hand, represented by silver certifi-
Gates outstanding, increased during
the same period from $27, 266. OBJ to
S4S 6O3, 95S. AS temporary eXpedi-
emit TO stop this drain of gold from the
treasury, the assistant treasurer In
New York was directed to use
silver certificates in payments
to the clearing house United
States notes to the extent of one half
payments, but the amount of these
notes in the treasury, which at the
time of the commencement OF this
mode of payment had accumu-
lated beyond its needs, has
now become so much reduced, they
are no longer available for such pay
ments to any considerable extent.
If we return to the former practice.
making payments entirely IN gold or
gold certificates, it shall result IN a
continuous loss of gold to the treas
ury, not made up to sufficient OK
tent by receipts of gold from other
sources, the question must soon arise
Tor decision Oy I've utpd1 bulCHt ees w
whether it viii continue to make, IN
gold or its representative, the pay
ments now made through the clearing
house, or use in its payments silver
dollars or their representative certlh-
Gates in the same proportion to the
relation in which the silver dollars
III the treasury, not held
for the certificates outstanding,
bear to available assets and extent
similar to that on which they are
used at other offices of the treasury
During the fiscal year 1926, l52, 572 IN
national bank notes were presented
for redemption, being % SO per cent.
more than for the precedng year. Of
the amount presented $50 922, 600, or
IS. 80 per cent. came from four cities,
VIZ, New York, Boston, Philadelphia
and Chicago. The increase of % So
per cent in the amount of bank notes
presented for redemption, reflects
upon the condition of the mercantile
and monetary affairs of the country,
as shown by reports OF increasing
business failures and decreasing