The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1885-12-09
SIL YER DOLL A RS.
He Thinks They Are Accumulating
Too Fast and Are Altogether
Too Expensive.

$55 5,O78,OO7 over 1884. The liabilities
were $33O,3S1.777 an increase OF &c.,
ZIG. SOL over 1884. and the balance, $194.-
326 ,47S, all increase OF $44, SUI, 41e over
been an increase of $33 AGA, ,633 in the
gold assets; S22,O95,O16 in the silver
assets; $6.776. 423 in the legal tenders as
sets; $171, 1884 in the National bank assets.
The National bank deposits to the bullion
fund or deposits in the mints were on the
3Oth OF June this year, $148, ,5O4 ,629 as
against $141 GAS, ,O6S on June 80. 1884.
THE ISSUE OF UNITED STATES NOTES
during the fiscal year in the place of such
as were returned in worn and mutulated
condition amounted to $84 ,493, 1873. Silver
certificates to the amount of $40, 1000, 900
were issued and $40, $50, O45 were redeemed
during the year. Gold certificates OF the
old issue, amounting to $52, ,42O, were re-
deemed. OF the new issue $63, 900, 900
Coupons from United States bonds to the
amount of $8,OS4, ,667 were received from
the several assistant treasurers, by whom
they were paid and examined in this Office.
Called bonds of the United States, amount
ing to $45, ,968 600, were redeemed, OF
which amount $40, ,5SS,15O was for the
sinking fund. Interest amounting to $42, :
$40, 736 on the registered bonds OF the
United States, including those issued to the
Pacific Railway Companies, was paid. Ma
tional banks withdrew S53, ,3O3,35O .f
bonds held TO secure their circulating notes
and S31 300. 700 OF bonds were deposited
for that purpose, Il net decrease OF S22,-
OO2, $50.
THE DEFICITS
occurring during the fiscal year, making the
amounts involved unavailable to the treas
ury were one OF $25 5.341.61 in the office OF
the assistant treasurer at New Orleans,
and one OF 11.S57.37 in the assay office
at Boise City, Idaho. Unavailable funds
were decreased by the following items: Re-
duction of the amount Of the deficit ut the
branch mint at San Fra ncisco, S.. 6S5 IS;
a reduction OF the amount Involved in fail
ure OF the Venango National Bank OF
Franklin. Penn, of $12,755 1G, and the
adjustment OF two defaults in the former
United States depository at Baltimore.
amounting to Sc 9OO.77 and $l.196.S7 I
| respectively. making a total decrease of
Of S26, ,53S.6S and net increase in un-
available funds OF $1O.6GO.3O. The Ma
tional Banks paid into the treasury on ac-
count OF the semi-annual duty on their cir
cul;, ton the sum OF 81, 794, ,5S4, which was
$3.50, ,OS4 less than was paid on that ac-
count in the preceding year. Circulating
notes OF National Banks amounting to
$15O,2O?,1 129 were received for redemp-
ton during the year. This amount IN
cluded the notes OF
NATIONAL BANKS THAT HAVE FAILED,
gone into liquidation or are reducing their
circulation of which S2S, S,462, ,225 were re-
deemed during the year. Notice is given oi
the suspension OF the issuance OF 81 aud
So notes and an economy is effected
thereby, the saving for one quarter being
the cost OF printing 5000, 900 notes and
the paper used in their manufacture. AT
| this rate a reduction in the small note issue
| is indicated of about $2S,OOO,OOO during
the current year. The Treasurer further
recommends the establishment of an issue
department in order to obtain greater Sc
curity thannow prevails in the treatment
| OF legal tender notes and other securities o
, 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 $1S7 ,12S,
| 900 and requests that thepractice OF print
ing these notes be sanctioned by law or the
notes retired. The Treasurer says that he
should have authority to make
FREQUENT EXAMINATIONS
| Of the sub-treasuries and mints to enable
him to know that the funds with which he
! is charged are held as represented, and tC
| hold the officers to a more strict account
| ability than has heretofore prevailed. Ht
recommends an appropriation sufficient to
cover the expense OF such examinations
He also favors u scheme for the reorgani
zatiOn of the sub-treasurles OF the United
States, the officers of which have had their
duties and responsibilities largely increased
| l. l. ~>f Il oil md lAn2
tenders. certificates and III other ways. At
tention is directed to the large amount o
funds to the credit of the disbursing Officers
of the Government. 1t is believed that ad,
yances are made to these officers in excess
| OF their current requirements for years
The amount has rarely been less than $40,
600, 900 and has frequently exceeded $40,
OOO, 600. 1t is recommended that the pay
ment to and by them be restricted to sunni
needed in monthly payments. A very
large part OF these advances is made tt
pension agents. 1t is recommended thai
a change be made in the mode OF payin'
pensions, and that these payments b
made by means of the treasury in checks
in the same manner as the interest on tn
public debt is now paid. The Treasure
recommends that the practice OF issuin
legal tender
| GOLD AND SILVER CERTIFICATES
be discontinued as expensive and danger
GUS through the eaccummuati ton OF immens
sums in the Treasury (silver certificate
especially, on the ground that it hal
proved to be positive hindrance to tn
more extended circulation CT silver dollars
This latter he also considers too expensiv
a currency for daily use, as owing to tn
express charges paid by the Government il
putting these coins into circulation, and fur
ther charges paid by the people to return
them to the monetary centers, where the.
alone can be used, which causes a large los
to the community. ut is apparent" h
SAYS, 'that the execution OF the colnag
law is gradually converting the funds OF til
Treasury into standard dollars. Ever.
exertion has been made to give an EXTENDED
circulation tn these coins. but without sue
cess. Such success as has been obtained
has been at very great expense to the Gov
ernment, the excessive cost furnishing ;
strong argument against continuing tn
issue, The circulation obtained is shOr
lived, the coins finding their way back i'm
mediately to the sub-treasuries, the return
movement costing the Individual holder
more for TRANSPORTATION than the origina
cost to the Government. AS the sub-treas
uries become overloaded with returned ant
mints with
CNlSSUED DOLLARS
the Government is obliged to transpor
them at heavy cost to the nearest piac'
in which vault room can be found. He re
commends that the Treasurer be permitted
to seek some more economical mode thar
is now employed in order to distribute
them and other nlo lonies from the Treasury
The Treasurer states that the amount o
fractional coin held in the Treasury is $3l q,
i 236 1894 and recommends the repeal
the redemption law as to these and mino
coins, as tending to prevent their owe
issue. He further gives statement of en-
abrasion upon coins now in use and estl
mates as to what it would cost to replac
them with other subsidiary coin. .of equa
or greater value. He recommends tn
, issue of new coins of greater weight an
greater beauty, throwing open the design
, for the new issue to competition. In orde
l to save the expense OF coming and distrit
' uting minor coins when a sufficient suppl
is already in the Treasury it is recon
l -. . - u. ~2rx2 an