St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-11-29
OUR MONEY BAGS.
What the Closing Year of Republican
Finaneiering Develops.
An EpitOms OF Interest to Business Men and
Tax Payers.


Tax Payers.
annual Rep0rt Of the Secretary Of the
Treasury
WASHINGTON, Nov. 2S.-The annual re-
port of the treasurer Of the United States
shows the net revenues Of the government
were less than in 1888 by $40, 767, ne; de-
crease in receipts from customs SIS, 639, 0O7;
in receipts from internal revenues s23, I34,-
goo, and in receipts from miscellaneous
sources, IS, S49, PAS. From the aggregate Of
these items should be deducted an increase
of 81, 1854, $40 in receipts from the sales Of
public lands, leaving the net reduction as
stated above. The net expenditures aggre-
gated 1914, 126, PA, a decrease from the
amount in 1888 Of S21, PSI, 1898.
The surplus applicable to reduction Of
the public debt amounted 70 $104, 393, 625, a
decrease Of $2S, ass, SIS from that Of the pre-
vious year. The items Of expenditures show
ing the decrease are as follows: On account
Of the war department, SO, ASH, 77e; interior
department 81, 469, 1856; interest on public
debt, 81, 5S1, 1852. There was an increase Of
g, 242, All in the expenditures account of
civil and miscellaneous, and s., 009, 164 in
the expenditures account Of the navy depart
ment.
THE AMOUNT N THE TREASURY.
The discussing officers of the United States
had to their credit on the books OF the treas
ury at the close Of the year $50, 463, $50.
The statement Of assets and liabilities for
September 80, 1884, shows the general bal
anee was reduced from Sl6S, 232, 463 in 1888
to S149, 525, 062 in 1854, reduction OF 3d.
7O7, 400.
The aggregate amount Of gold and silver
coin aud bullion held BY the treasury in
creased from 1852, $40, 500 in 1888 to $685.
ZIG, 297 in 1884, An increase Of S42, 705, 4S7.
The gross assets are increased from S456,
119,s17 in 1888 to $519. 500, 249, an increase
OF 500, $40 43l from November l, 1888, 10
November ], 1854. The reserve decreased
Sl2, 752, 255, or from s160, s22, 545 to $14S,-
07O, 29O.
There were nominally outstanding at the
close Of the fiscal year silver certificates
amounting to 1920. S9i SOL; an increase OF
So, 274, $50 during the year. The amount
held by the treasury increased from SI5,-
996, AS to s23, 3s4. $50, thus leaving actually
outstanding s97, 7O7, oil; an actual increase
Of $24, $50, 1925.
STANDARD SILVER DOLLARS.
The amount of standard silver dollars
coined to September 80, 1884, was s1s2. $50,
S29, Of which the treasury held sl42, $40, 400.
OF this amount $97, O94, Ss1 was
for the redemption of silver
certificates outstanding The amount
in circulation was s39, sol, 953, or about 81 s
per cent of the total coinage. As usual the
amount Of outstanding reached the highest
| point in December, when it exceeded
81 ,OOO,O 900, an aggregate never before
reached. The decrease TO June was not a:
/ great as in previous years, probably owing
/ 10 the scarcity of one and two dollar notes
and on Sept 80 the amount was $3.50, III
greater than the same date in 1888. Coun,
terfeits, of various kinds, amounting tc
/ $11, 200, were detected during the year.
THE DECREASE OF GOLD IN THE TREASURY.
AS a consequence Of the inability Of the
treasury, under the existing practice, 10. use
either silver dollars or silver certificates il
its settlements with the New York clearing
house, where by far the greater part Of it:
disbursements Is made, available gold rar
down from S155, 429, 900 on January 1, 1884
to Sll6, AS, $40 on August 10, 1884, Will,
silver dollars and bullion on hand repres
ented by silver certificates outstanding in
creased during the same period from $27,
266, 037 to $4S, sos, 95S. AS a tempory ex
| pedient to stop this drain Of gold from tn,
treasury the assistant treasurer at New
York was directed to use in payment:
to the clearing house United States notes tC
the extent Of one-hah of the payments. But
i the amount Of these notes in the treasury
which at the commencement OF this mode oil
| payment had accumulated beyond its needs
has now become so much reduced they are
no longer available for such payments to AM
considerable extent. II a return to the for
mer practice OF making payments entirely il
gold or gold certificates, shall result in a con
tInuous loss of gold TO the treasury, is no
made up TO a sufficient extent by the receipt
Of gold from other sources, the question mus
soon arise for decision of the department
as TO whether it will continue to make il
gold or its representative payment nov
made through the clearing house, or use il
its payments silver dollars, or their represen
tatiye certificates in the same proportion Il
to the relation TO which silver dollars il
the treasury, not held for certificates out
standing, bear to available assets, aud to al
extent similar to that in which they are use,
at other offices Of the treasury.
NATIONAL BANK NOTES.
During the fiscal year S126, 152, 572 in ma
tional bank notes were presented for re
demption, being 22.s3 per cent. more thar
the preceding year OF the amount presented
$50, 922, 900, or $500 per cent. came from
the four cities; New York, Boston, Philadel
phia and Chicago.
The increase 22.s3 per cent. in the amour
of bank notes presented for redemption, re
fleets on the condition of the mercan till
and monetary affairs of the country, a
shown by the reports Of increasing business
failures and decreasing clearing house trans
actions; and it is q continuation in tn
course that bank note redemptions hav,
been pursuing year by year since 1881. Tn
fiscal year last ended makes ten years o
national bank note reiemptions under tn
act of June 90, 1874. The aggregate amour
of bank notes presented for redemp
ton during the ten years, ex
pressed in round numbers, was s, 404, 600, 0O
yearly average of S140, OOO, 900. The actua
REDEEM ptions varied widely from this average
falling of $50, 600, 900 in 1881. The aggre
gate amount of bank notes presented for re
demption during the first five years (1S75 +
1879 was S97S, 900. 900; while the aggregat
amount Of the last five years Qss0 to 1884
was but s426, 600, 900. In no year Of the las
five did the redemptions equal those Of an
of the first five years. The large redemption
years, 1875 to 1879, were to som
extent due to the depression il
business succeeding the hnancia
aud commercial panic Of 1873; and tb
comparatively small redemptions in the las
five years, 1850 to 1884, may be attributed Il
the recovery during those years from tn