Savannah morning news. [volume] (Savannah) 1868-1887, 1884-11-29
REDUCED FIFTY MILLIONS
THE GOVERNMENTS REVENITE
GRADUALLY FALLING OFF.

Less Received from Customs, S23-
134,296 from Internal Revenue
and &S,S49,24S from Miscellaneous
Sources.
WASHINGTON, Nov. 28.-The annual
report of the Treasurer of the United
States has been made to the Secretary of
the Treasury. 1t shows that the net
revenue of the government for the fiscal
year 1884 was less than that of 1888 by
$40, 767,712 having been $34S, ,519, 1863,
while in 1893 it amounted to $39S, ,2S7. .2S1.
The decrease in the receipts from customs
was $685. ,007, in the receipts from inter-
nal revenue $23, 134, ,296, and in the re-
ceipts from miscellaneous sources
$3.50, 24S. From the aggregate of these
items should be deducted an increase of
$1,S54,s40 in the receipts from the
sales of public lands, leaving the
net reductions as stated above The
net expenditures aggregated $244, ,126, PA,
a decrease from the amount in 1888 of
81, 2S1, ,S93. The surplus applicable to the
| reduction of the public debt amounts to
$104, 1898, ,625, a decrease of $2S, ,4S5, ,S1S from
that of the previous year. The items of
expenditure showing a decrease are as
follows: On account of the War Depart
ment, So, ,481, ne; on account of the Inte-
of the interest on the public debt, $4,5S1,-
152. There was an increase of $2,242, All
| in expenditures on account of civil and
miscellaneous and of $1,000, ,164 in ex-
penditures on account of the Navy De-
partment.
MILLIONS IN THE VAULTS.
There were held in this Office for ma
tiOnal banks at the close OF the fiscal year
bonds of the United States amounting to
nf snI, 1
held to secure circulation issued to banks
and ST., ,O60,O0O as security for public
! moneys on deposit with such national
banks as were designated as depositaries.
| There were withdrawn during the wear
$69, ,7O1, ,25O of such bonds and $47, 1860
were deposited, showing a reduction of
| the amount held of S22.5O4 $50 and a de-
| crease in the total movement of bonds of
$422, JOS, 100, the movement in 1888 having
been $539, OO6,O 900. There were outstanding
at the close of the fiscal year $780,, ,37S, $50 of
| various issues of United States currency.
The amount redeemed and destroyed
| during the year was $S5, ,972,970, making a
total redemption since the fiscal issue of
| the currency Of 50, ,453, ,305, ,593. Silver GER
tlticates to the amount of $52, $50, 600 were
issued during the year and $20,O05, 140
were redeemed, making the total re-
| demptlOn zoos 309. The amount
nominally outstanding at the close
| OF the year was S120, ,S9l ,691.
The issues of gold certificates authorized
| by the act of July II, 1882, amounted to
! S4l, 100000, and the redemptiODs to S24.-
567, ,410, making the total redemptions $32,-
10000, and leaving nOminally outstand-
| ing Y95, III $3.50. The total amount of gold
| certificates of the old issue redeemed to
| the close of the year was $97S, $50, 1S0, and
the amount outstanding $2,614, 700. There
were redeemed during the year bonds of
ffFoor To
300, of which amount SAC, 769,600 was for
the sinking fund, and S1,329, $50 of bonds
! continued at 312 per cent. were exchanged
into three per cents. From May, 1869, the
| date of the first retirement, to the close of
the fiscal year the amount of bonds re-
deemed, purchased, converted or eX-
! changed was 50, ,6S4, 031 500 of which $4S4,-
$50, 100 vas for the sinking fund.
SURPLUS CASH.
| If it be assumed, saws Mr., Wvman.
| that theAcash in the Treasury in excess of
the demand, liabilities should be main-
tanned at about 40per cent. of the amount
| of United States notes outstanding $780,
| 6Sl,Ol6) the reserve fell below that rate
in August only, having been as high as
| 1914 per cent. year ago and being at
| present 42.7 per cent. The average for
| the five years and eleven months since the
| resumption has been 39.5 per cent. If,
| however, the percentage be computed be-
| tween the cash in the Treasury and the
| liabilities, including United States notes,
| after excluding all certificates and moneys
| for their redemption, the proportion
ranged from 5S.2 per cent. to "a 2 per
| cent, and the average since the resump-
ton has been 52.9 per cent. The amount
of silver standard dollars coined to Sept.
| 80, 1884, was $1S2, 1880, 800, of which the
| Treasury held $142, ,349, ,409 Of this
amount S97, ,094, SSl was for the redemption
of silver certificates outstanding.
The amount in circulation was $39, SOL
| 953, or about 21.S per cent. of the total
! coinage. AS usual, the amount out
standing reached the highest point in De-
cember, when it exceeded $41, 100000, an
| aggregate never before reached. The de-
| crease to June was not as great as in
previous years, probably owing to the
scarcity of 81 and 50 notes, and on Sept.
| 30 the amount was $6S0,717 greater than
| on the same date in 1888. From the re-
ports of the silver certificates is
sued, transferred and redeem
ed, and of the amounts
received for duties, and the amount on
hand in the New York office, it appears
| that after allowing for the reissue by
the New York office of portion of those
paid in, silver certificates to a large
amount have been brought from other
points to New York and used in payment
of duties on imports for which otherwise
gold coin or certificates. or United States
notes, would have been used.
THE LOSS OF GOLD.
Of the loss Of gold to the Treasury
through this mode of settlement with the
clearing house there has been made up to
it during the same period $60,S44, 900 by
means of gold deposits at the New York
office for $39, III 900, of which silver GER
titicates were issued at the treasury Off
ces in the South and West and for S2f, ,O73.-
600, of which silver certificates were paid
out at the New York office. AS conse-
quence of the inability of the Treasury,
under the existing practice, to use either
silver dollars or silver certificates in its
settlements with the New York clear
ing house, whereby far the greater
part of its disbursements is made
available, gold ran down from
Sl55, 429, 800 on Jan. 1, 1884, to SIG 479.979
on Aug. u, 1884, while silver dollars and
bullion on hand not represented by silver
| certificates outstanding increased during
the same period from $27, ,266,O37 to $4S,-
| 6O3,95o. At the close of the fiscal wear
| United States bonds were held in this
| office for the account of the Pacific rail-
roads sinking fund, established by the act
OF May Z, 1878, go statutes, 66) as follows:
For the Union Pacific Railroad Company
| S2,27O, 100, and for the Central Pacific
Railroad Company $S3S, 900.
THE INDIAN TRUST FUNDS.
The bonds and stocks of the Indian
trust fund in the custody of this office at
the close of the fiscal year amounted to
| $1,S0S,01 Interest is due and unpaid on
| all bonds of the following named States,
| held for the account of this fund: Arkan-
sas, Florida, Louisiana, North Carolina.
| South Carolina, Tennessee and Virginia.
| The interest on the remaining bonds.
those of the States of Indiana and Marv-
land, and the bonds issued to the Pacific
railways, is paid to date. The bank notes
| presented for redemption during the first
three months of the current fiscal wear
are 81 per cent. in excess of the amount
| presented during the corresponding period
of the last fiscal year. The Treasurer
| cOmmends the management of the offices
| of the Assistant Treasurers, and states
that no loss of public funds has occurred
| during the year. The Treasurer renews
his recommendation annually made that
an amount be appropriated sufficient to
restore the salaries in his office to the
| amounts originally paid.
OKLAHOMA PAYNE DEAD.