The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1885-12-08
The Report of the United
States Treasurer.
RECEIPTS AND EXPENDITURES
Some Suggestions Regarding Silver
Certificates, Subsidiary Coins, Pay
ments to Pension agents, Etc
The rreasure,'s Report.

nual receipts OF IHe Oht0u O'e'S'
Treasury for the fiscal year were 1928,
800, FOG or $24, 829, 163 less than that of
the preceding year. while the expendi-
ture was $26, 226. 935 % or SIG, 1905 600
greater than that of the preceding year.
The surplus available for the rcductlon
of the public debt at the close OF the
fiscal wear was therefore SAC, 929, S54 less
than was available on the 1st of July
1884. The assets, according 10 the new
form of statement, September 30th. 1880,
were 1914, EOS, 256, or an increase OF $o5,-
O78 OO7 over 1884. The liabilities were
$3.50. 3S1, III, an increase of SO, 216,591
over 1884, and the balance, Sl9l ,326,47S,
an increase of $44 ,801 ,416 over 1884.
During the same period there has
been an increase of $33, 464 ,633
in gold assets, OF $50 0)5,0 DIG in silver as
sets, Sc, ne, 423 in legal tenders, OF SILL
2S4 in national bank notes, and national
bank deposits, The bullion fund or de-
posts in minis were, on the Both OF
June, this year, $14S, 5O4 ,629, as against
Sal .64S O68 on June 30th, 1884. The is
sue of United States notes during the
fiscal year in place of such as were re-
| turned. in a worn and mutilated con-
dition, amounted to $S4, 493, 153. Silver
certificates to the amount of $40, 000, 900,
were issued and $20.990, 045 were re-
deemed during the year. Gold certI-
fcates of the old issue amounting to
$50, 420, were redeemed. OF the new is
sue, $50, 000, 900 were issued and $21 ,017,-
100 redeemed. Coupons from United
States bonds to the amount OF S., 084,-
O67 were received from several AS
sistant Treasurers. by whom they were
paid and examined in,this Office. Called
bonds of the United States amounting
to $45, 968, 800 were redeemed, of which
amount $45 ,588, $50 was for the sinking
fund. Interest amounting to $40, $40, 1876
on registered bonds of the United States,
including those issued to the Pacific
Railroad Companies, was paid. National
banks withdrew $50, 300, $50 of the bonds
held to secure their circulating notes,
and $31 300, 200 of bonds were deposited
for that purpCsa, net decrease OF $22,-
002. $50. The deficits occurring durlCg
the fiscal year, making the amounts in
YolVed unavailable to the Treasury, |
were one of SIS, 342.61, in the Office of |
the Assistant-Treasury, at New Or |
leans, and of $11, 857.37 in the
Assay Office, at Boise City, |
Idaho. The unavailable funds |
were decreased by the following |
items: Reduction, amount of de- |
felt at the branch mint at San Fran
cisco, St, 685.88, a reduction of the |
Venango National Bank, of Franklin,
Pa, of $12, 1876, and the adjustment
of two defaults in the former United
States depository at Baltimore, amount
ing to sc, 900.77 and 81 1867, respect
lively, making total a decrease of $26,-
SIS. 68. and a net increase in unavailable
funds of S10.660.30. National banks
paid into the treasury on account of the
semi-annu Il duty on their circulation
the sum of 1874, 584, which was $780,
034 less than was paid on that account
the preceding year. Circulating notes
on national banks amounting to $780,
2o9, 100 were received for redemption
during the year. This amount included
the notes of national banks that have
failed, gone into liquidation, or are
reducing circulation of which SIS. 49,, 225
were redeemed during the year. Notice
was given of the suspension OF the
issuance of 81 and 50 notes, and an
economy effected thereby, the saving
for one quarter being the cost of print
ing s., 000, 900 in notes, and the paper
used in their manufacture. At this
rate a reduC ton in the small note issue is
indicated at about SIS, 0O0, OC0 during Il e
current year. The Treasurer further
the establishment of an
issue department in order to obtain
greater security than now prevails in
the treatment of legal tender notes,
and other securities OF the government.
The report states also that there has
been printed but not issued government
securities in excess of the sum provided
by law, amounting to $187, 128 ,0oO. and
requests that the practice of printing
these notes be sanctioned by law
or the notes retired. The Treasurer
says that he should have authority to
make frequent examinations of sub
treasures and the mint, to enable him
to know that the funds with which he
is charged are held as represented, and
to hold officers to a more strict ac-
cOuntability than has heretofore pre-
vailed. He recommends an appro-
priatiOn sufficient to cover the expense
of such. examinations. He also favors
a scheme for the reorganization of sub
treasures of the United States, the
officers of which have had their duties
and responsibilities largely increased
through the issue of gold, silver
and legal tender certificates, and
in other ways. Attention is
to the large amount OF funds to
the credit of disbursing officers of gov
eminent, 1t is believed that advances
are made to these officers in excess of
their current requirements. For years
the amount has rarely been less than
S20 600, 900 and has frequently exceeded
$40, 900, 900. It is recommended that the
modes of payment by them be restricted
TO the sums needed in monthly paw
ments. A very large part of these ad-
VanceS iSma1e to pension agents. tits
that change be made in
the mode of paying pensions, and that
these payments be made by means of /
Treasurer's checks, in the same manner
as interest on the public debt is now
paid. The Treasurer recommends that
the practice of issuing legal tender,
gold and silver certificates be discontin-
ued as expensive and dangerous, through
the accumulation Of immense sum
now in the Treasury of silver certifi-
Gates especially, on the ground that it
has proved 10 be positive hindrance to
the more extended circulation of the
silver dollar. This latter he alsrs con-
siders too expensive a currency for
daily use, owing to the express ,
charges paid by government in putting