Grand Rapids morning telegram., 1884-11-29

TREASURER wYMAN's REPORT
a Reduction OF Nearly Fifty Millions
ia the Governments Net Revenue
Some OF the Causes.

WAsnIS0r0a, Nov. 28.--The annual report
OF United States Treasurer Wyman is made
public to-day. IL shows the net revenue OF
the Government for the fiscal year ended
June 81, 1884, il less than 1873 by SO, 767,-
7i2, having been s:4S, S,5l9 500; while in 1888
il amounted to $39s. PSI ,5Sl. The decrease
IN receipts from customs Is sl9,6S,007; in
receipt from internal revenue, x23, ID, ,256,
and in receipts from miscellaneous sources,
Ss,Si9,2ts. From the aggregate of
these items should be deducted
the increase S1.S4,si0 in receipts
from sales of public lands, leaving net re-
duction, as stated above. The net expen-
ditures aggregated S2fl. IN, pa, a decrease
from the amount of lsS3 of S2l, PSI ,S93.
The surplus applicable TO the reduction of
the public debt amounted To SlO4 1913, ,625, a
decrease of So, ,4s5.s1S from the previous
year. The Treasury reserve for the year
ending Nov. L. 1894, Is decreased Si2, 752, ,255,
or from $ltO, e.@a5i5 IN 1885, to Sis, ,O7O, 80
Nov. 1, 1884 Cash fell below 40 per cent. in
excess of demand liabilities lawfully required
IN August only having been as high as
o. and 40 a year ago, on Nov. i, 1884, was
~ aud 40 per cent. The average
since resumption has been 81 and $40
per cent. The amount of standard
silver dollars coined to Sept. 30, 1884. Is
Sls2, 2,3s0. 80, of which the treasury held
Sii2,349, 100. OF this latter amount S97 ,094,-
al A. for the redemption of silver certificates
outstanding. The amount IN circulation is
Ss9. .sOl ,953. During the past fiscal year $780,
1882 are in National bank notes presented
for redemption, being 22 and o3-lOO per
cent more than in the preceding year. This
increase IN the amount of bank notes pre-
sented for redemption the treasurer says re-
fleets the condition of the mercantile none
tary affairs of the country, as shown by the
reports of increasing business failures and
decreasing Clearing House transactions. 1t
- a cOntinua ion of the course bank note re-
demptions have been pursuing year by year
since 1881.
The aggregate amount of bank notes pre-
sented for redemption during the past ten
years, expressed IN round numbers. Is Sl,-
4Uf,tOO,OUO, a yearly average of Sl4O,OuO,OOO.
Actual redemptiOns varied widely from this
average. running up to S2i2.OCO,OOO in 1877,
and falling of to SIS, 600 in 1881, in one
case exceeding the average by Sl02, 100000, in
the other falling SS1 10000 below ii. The
large redemptions of the years 1876 and 1879
were TO some extent due to- the depression in
business succeeding the financial and COM
mercial panic of 1878. The comparatively
small redemptions in the last tive years,
lSoO-lSci, may be attributed to the re-
covery during those years from
the effects of that panic, the increased ac-
tivity of business and the benefits attending
the resumption of specie payments. The
statistics of the ten years show the redemp-
tions invariably affected by business sea-
sors. decreasing In the spring and autumn,
when trade Is active, and increasing in mid
winter and midsummer when trade is dull.
The notes presented for redemption during
the past three months of the current fiscal
year are 81 per cent. in excess of the amount
presented during a corresponding period of
the past fiscal year.