Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1886-12-09
THE NATIONAL FINANCES
Gratifying Exhibit of the Treasury as
Shown in the Monthly Statement.
Silver Decreases S12.746, 085 and Gold
increases 81. 136, 472 in five Months.
National Finances.

WASHINGTON, Dec. THE treasury
meets the second session of the Forty
nlnth congress with statements that
ought to be equally satisfactory to all
schools of financial thought or want of
thought. The senate amended the Nor
rlson surplus resolution out of all recog-
nltlon, and then the president treated it
TO pocket veto, but the end aimed al by
that resolution, as Col. Morrison intro
duced 1T, has been attained. At the same
time the gold men and advocates of a
strong treasury ought to be pleased that
the gold balance is increasing in spite of
large redemptiOns of bonds, and is
now larger than ever before ex-
cept during nine months of 1881
and 1882. The silver men SHOULD not com
plain of this, when the amount of silver
locked up In the treasury is decreasing in
spite of continued coinage and the amount
IN circulation is increasing. The amount
OF gold owned by the government is now
S163,93O, 220, which is an excess of SIS,
1913, S41 for the month"; and of S7136472
for the five months of the fiscal wear,
The amount of silver owned by the gov
eminent is $83,4S3,504, a decrease for the (
month of $2,94S,S75, and for the first five
month of the fiscal year of 81, 746,OS5.
During the month of October the silver
dollars in circulation varied between
6l,OOO,OOO and 100000. For the last
few days there has been a slight falling
of, and it is believed that the
MAXIMUM OF SILVER DOLLARS
that can be kept in circulation has been
reached, or very nearly so. The increase
of outstanding silver certificates for the
month was little less than the increase
IN the deposit of legal tenders to redeem
national bank notes, but the two amounts
nearly balance each other. The issue of
the new silver certificates is believed to
account for the falling off lately of the
circulating silver dollars. During the
last month there has been an immense
and quite unprecedented demand for So
ard SO legal tenders and $40 silver
certificates. All these demands have
been met, bat it has taken great vigil
lance and good Judgment on the part
of the treasury officials to get enough
of these notes, which are the ones mainly
used in paying wages. The demand for
these notes may run two or three weeks
longer, but has probably about exhausted
itself. The surplus, about which so mnch
has been said, is still considerably greater
than the republican secretaries kept it,
as they were not confronted with the
silver question, and were not obliged to
resort to unusual measures to keep a
supply of gold on hand, but it is much re
duced as compared with SIX months ago,
and is now about where it was a year and
a half ago. The balance by the new
form of statement shows a reduction for
the month of $12,689,633, and for five
months of the fiscal year of $35,O97 ,553.
The debt reduction for the month is an
to be $1,000, 249, but this is the
net reduction, the difference between the
debt minus cash in the treasury at the
two dates. The
REDUCTION OF THE NET PUBLIC DEBT
for the first five months of the fiscal year
to $37, 1885, but the real re-
duction of the debt is much greater. The
principal of the interest-bearin debt has
been reduced since July 1st, by the
amount of $72 1925 In round mum
bers $4,000 900 of these bonds were re-
deemed with money lying idle in the
treasury on July Ist last, and S38, 100000
have been redeemed out of the current
revenues of the government. There are
now $54,017,8 800 of 3's subject to call. If
matters go Oh as at present the last of
these will be called before the end Of the
fiscal years. Then for four years there
will be no bonds subject to CALL The
government will doubtless invite holders
to surrender them voluntarily, but it has
had an open call out for three months
and only 100000 have been offered IN
der that.