The Indianapolis journal., 1885-12-07

Figures and Suggestions from the Annual
Report of Treasurer jordan.

nscal year was $50, 69U, i0b or S24 S29 l63 less
than that of the preceding year, while the ex-
penditure was $3.50 226 935, or $6 100 600 greater
than that of the preceding year. The surplus
available for the reduction of the public debt at
the close of the fiscal year was, therefore, $40 929
S54 less than was available on the lst of July.
1884 The assets. according to the new form Of
statement, Sept 80, 1885, were 1914, 70S, ,256, or
an increase Of $50 0lS,007 over 1884, the liabili-
bilties were $3.50 $751; III an increase of $10 216,
591 over 1884: and the balance, $l94 326. 47S, an
increase of $44, sol, ,4l6 over 1884. During the
same period there has been an increase OF $685.
1863 633 in the gold assets of SO 095 016 in the sill
yer assets &C. 776 423 in the legal tender assets of
$l71,28 in national bank notes and national
bank deposits. The bullion fund. or deposits
in the mint were, the 30th of June. 1885. $148,
504, 629. against Sal GAS 068 on June 80. 1884
The issue Of United States notes during the fs-
cal year. in place of such as were returned in a
worn and mutilated condition, amounted to $84.-
493, l53. Silver certificates to the amount of
$4O, 600. 900 were issued and SIC, 990 045 were re-
deemed during the year. Gold certificates of
the old issue, amounting to $50, 420 were redeem
ed. Of the new issue, $63, 600 COO were issued
and $2l 0l7 100 were redeemed. Coupons from
United States bonds to the amount of IS, 0S4, 66T
were received from the assistant treasurers by
whom Wf1ion they , were pal paid and examined in this
amounting to $40, SOS, 600 were redeem
ed, of which amount, $45 5es $50 was for
the sinking fund. The national banks with
drew 500, 3O3, $50 of bonds held to secure their
circulating notes, and $3l 800 700 of bonds were
deposited for that purpose--a net decrease
of $22,OO2, 65O' The deficits occurring
during the fiscal year, making the
amounts involved unavailable to the
the assistant treasurer at New Orleans and
one of $11 S57 81 in the Office at Boise City. The
unavailable funds were decreased by the follow
ing items: A reduction of the amount of the
deficit at the branch mint at San Francisco Of
So, 600 So: a reduction of the amount involved in
the failure of the Venango National Bank of
Franklin, Pa. of $l2 755. 1G. and the adjustment
of two defaults in the former United States de-
pository at Baltimore, amounting to &c. 69O07
and 81, ,195 81, respectively, making q total de-
crease of $40, 53S6S and a net increase in
the unavailable funds of $l0 66030. The
national banks paid into the Treasury on
account of semi-annual duty on their circulation,
the sum of 81, 79O,5 $50. which was $3.50. .080 less
than was paid on that account last year. Crcu-
lating notes of national banks amounting to
$3.50, 2C9 l29 were received for redemption during
the year. This amount included notes of nation
al banks that have failed, gone into liquidation,
or are reducing circulation, of which $28 462, 226
were redeemed during the year
Notice is given of the suspension Of the issu-
ance Of one and two-dollar notes, and the econo-
my effected thereby, the saving for one quarter
.peiDS tHe cost OF printing nIbeen mlil10n nOteS
and the paper used in their manufacture AT
this rate reduction is indicated of about $28,-
OOO, 000 during the current year. The Treasurer
further recommends the establishment Of an is
sue department, in order to obtain greater secur-
lty than now prevails in the treatment of the
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 sums provided by law, amount
ing to $l87, l28 600, and requests that the prac-
tlce of printing these notes be sanctioned by law
or the notes retired The Treasurer says that
he should have authority to make frequent ex
aminations of sub-treasures and mints, to en-
able him TO know that the funds with which he
Is charged are held as represented, and to hold
the officers to a more strict accountability than
has heretofore prevailed. He recommends an
appropriation sufficient to cover the expense of
such examinations. He also favors scheme
for the reorganization of the sub treasures of
the United States, the officers of which have had
their duties and responsibilities largely increased
through the issue of the gold, silver and legal
tender certificates and in other ways.
Attention is directed to the large amount
of funds to the credit of disbursing officers
of the government 1t is believed that advances
are made to these officers in excess of their cur
rent requirements. For years the amount has
rarely been less than 500 600 000 and has fire.
quently exceeded $400000 900. 1t is recommends
ed that the modes of payment to and by them be
restricted to the sums needed in their monthly
payments
The Treasurer recommends that the practice
of issuing legal tender gold and silver certificates
be discontinued, the silver certificates especial
ly. on the ground that it has proved to be rosi-
tive hindrance to a moro extended circulation of
the silver dollar. This latter he also considers
too expensive currency for daily use, as owing
to the express charges paid by the
government in putting these coins
into circulation the coins cause
a large loss to the community. 1t is apparent,
4lDot< AZ A.. Al
gradually converting the funds of the Treasury
into standard dollars. Every exertion has been
made to give an extended circulation to these
coins. but without the success which the large
expenditure incurred would warrant The cir
culation obtained is short-lived, the coins finding
their way back Immediately to the sub-treasury.
the return movement costing individual holders
more for transportation than the original coinage
cost the government The government is obliged
to transport them at heavy cost to the nearest
place In which vault-room be found. He
recommends that the Treasurer be permitted to
seek some more economical mode than is now
employed in order to distribute them and other
moneys from the Treasury.
The Treasurer states the amount of fractional
coin held in the Treasury is $3l, ,236, 800 49, and
recommends the repeal Of the redemption law as
to these and the minor coins, as tending to pre-
vent their overissue He further gives a state
ment of the abrasion upon the coins now in use
and an estimate as to what it would cost to re-
place them with other subsidiary coin of equal
or greater value. He recommends the issue of
new coins Of greater weight and greater beauty
throwing open the designs for the new issue TO
In order TO save the expense of
coming and distributing minor coins, when a
sufficient supply is already in the Treasury lit is
recommended that the coinage be suspended and
future demands be supplied from the Treasury
Offices at the cost of the applicant, this is tho
only practicable way in which to prevent con-
stantly recurring redundancy The Treasurer
further recommends that the entire revenue dc.
rived from the Postofice Department 20 through
the Treasury, and be spent under its supervision.
PRESIDENT CLEVELAND.
The Daily Routine of His Life and Work In
the White House.
w Washington Letter.