National Republican. (Washington City (D.C.)) 1872-1888, 1885-06-02
THE DEBT STATEMENT.


The following explanation Of tho pub
lie debt statement issued yesterday by
the Treasury Department was prepared
by Mr. John NJ. Carson Tho decrease
shown in tho public debt by the state
ment issued yesterday for the month Of
May is Si,i25, 1856 and for the eleven
months, S5l5OOO00. There is little diff
ference between the figures for last month
and those for May, 1891, but comparing
tho eleven months ended Sunday with
the corresponding period of last year
there is a difference of over $37 900, 900 in
favor Of the latter period, aud 1t Ia not
likely that this difference will be materi-
ally reduced when the transactions of June
nre recorded. The surplus Of the last
fiscal year was over Sl01, ,000, 900. 1t will
hardly exceed $63,0000OO this year.
Compared with May there is no change
In the intorest.bearing debt, and the non
interest bearing column shows reduo-
tion Of less than 100000. The so-called
decrease in tho debt for the month, there
fore consists OF increased cash in the
treasury, which, deducted from the obli-
| cations shows that the treasury is
stronger by the sum stated than IL was
| ono month ago,
Tho available cash balance is sl62,-
! 7O3 27l, au increase over May Of s7,0O0,-
| 600 This is the largest balance held by
| the treasury since July, 1881, when 1t
exceeded Sl7l 100000 and IL is doubtful
| whether the present balance has ever
been so large, with the single exception
named. Most OF the deficiency appro.
priations made by Congress have been
| paid. together with other largo sums pro-
vided for extraordinary expenditures,
such as Alabama awards and the New
Orleans Exposition, and this very large
available balance therefore Il certain 10
bo steadily increased during the
coming six months unless the Sec
retary of the Treasury will call
bonds for redemption. According TO the
new form Of statement tho net cash is
$50, 100000, an increase Of SS,000000 over
that shown by the same statement for
April. BY the new statement the roduc-
tion Of debt is put at less that $500, 900.
This difference between the two forms oi
statement is caused by including in the
liabilities the accrued interest on Pacific
railway bonds, and by an increase last
month of 100000 in minor and fractional
silver coins, which Treasurer Jordan
treats as assets not available"
During the month the net gold has de.
creased $4,000, 900. the gold not covered
by outstanding certificates being Sll5,-
$40, 533 Iu the same time there has been
an increase to the silver dollars not COW
cred by outstanding certificates of nearly
SI000,000, tho number of those pieces
now owned by the treasury being 81, 159,
$50. Since March l, the date at which
tho present administration may be said to
have assumed the direction OF affairs
there has been an increase in the net
silver holdings OF tho treasury OF
$4,000, 600, u monthly average of five
millions. Deducting six and one-hali
millions for the coinage Of the past three
months, it will bo seen that in the period
named the treasury absorbed eight and
ono-half millions Of silver in addition tc
the entire product of the mInts. For the
same period in 1884 the increase in these
COINS was about six millions. These
figures do not include tho amount of sill.
yer bullion, which varies very little
standing at about 1900, 900 each month.
An examination Of tho gold FUND
shows that tho loss in net gold has beer
since March /, I'll $4,000, which is JUS
r $4,000, 900 greater than the loss in golC
for the corresponding three months of las
year. In directing attention to tho fac
, that the loss of net gold in May WAS only
J S2,0O0,000 against $s,000,000 In April
statements have been made by person.
not we'll informed in treasury method
that tho comparatively favorable showing
for May was attributable to savinl
, effected by Treasurer Jordan in discon
tinuiug the practice of issuing sill
yer in the south and west in oxchang
for gold deposited IN Now York, th
|, government thus saving millions in trans
l portation. To demonstrate the sillines
of such statements il is only necessary {
say that the express charges for sarryin
silver certificates from New York to Ne'
VpOrleans is 20 cents per each thousan
dollars, or $50 for conveying one millio
}, in certificates. In etfecting this exchang
: of gold for silver, it has been rarel
necessary to transport the silver pieces, q
> those coins can be issued from tho min
at New Orleans or from tho subtreasury.
The receipts for last month were S2S
, 700 1876 against S30372.000 for May, 1s9'
r The loss was almost entirely in internt
revenue. Tho annexed tables show th
receipts and expenditures for the eleve
months ended yesterday compared wit
r tho corresponding eleven OF the procedin
| fiscal year: