St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-05-02

Just closed. April. 1886, shows slightly
greater receipts from customs and internal
revenue and $4,000 900 reduction in eX-
penses, as compared with April, 1885.
Comparing ten months of this with ten
months of the last fiscal year. there is seen
to be an increase of nearly $4,000. 600 in
customs duties and nearly So, 900, 900
In internal revenue, while the
ordinary expenditure of the government
have fallen off $50. 900, 900. The interest
payments are IS, 600. 900 less and the in
crease in pension payments is a little more
than 50. 600. 900. The surplus of receipts
over expenditures in ten months of the tis-
cal year 1885 was S42, 7S9, $50. For ten
months of the current fiscal year it is $685.
O93, $50. For some time after the new adj
ministration came in, as owing to the brief
period Of
MIR. MCULLOCH'S SECOND SECRETARYSHIP
redemptiOns of the public debt were Sus-
pended, because with the manufacture of
silver dollars under full Roadway, and with
the certainty that no change
in the law could be made
for many months, it was deemed necessary
by Secretary Manning, as it was by Secre-
sary McCuloch. that the treasury should
have an ample reserve of gold ready at all
times for an emergency. Such a reserve it
Is evident, was secured few months ago.
for during the last four months $40, 600, 900
of bonds have been called and the further
accumulation of reserves has been SuS-
pended. Since Dec. 81 the net reserve has
ranged between ST.. 900, 900 and S79, O00,-
600, and it is evidently the policy of the
treasury department not to allow the re-
serve to vary much from these figures. The
reserve now is SIT, 030, 500 by the new
method of statement, or S213, 3S7, SAT by
the old method. When the present admin
iStratiOn came into Office the gold in the
treasury was running down at rapid rate
and the silver dollars were just as much
ACCUMULATING IN THE VAULTS.
The coinage of silver could not possibly
be stopped till congress met, and at the rate
at which gold was pouring out of the treas
lIry year ago, the gold supply would not
hold out till the end of the calendar year.
The secretary Of the treasury had power to
get gold into the treasury, if he saw fit to
exercise it. and he very early showed, as he
has steadily continued to show, a determi-
nation to avert the transition from gold
to silver basis as long as it was possible.
This expression of policy on his part was
alone enough TO check the drain of gold,
for if he was willing to lock up such silver
as he could not otherwise circulate, rather
against his will, this would avert the transit
ton from gold to silver for a long time, and
there was therefore no especial reason for
getting gold out of the treasury and hoard
ing 1t. The outflow of gold was
CHECKED EARLY LAST FALL,
and later in the season the gold reserve be-
gan to grow. 1t is just now growing faster
than the silver reserve. In the last four
months the gold reserve has in
creased S7,S73, 494, and the silver
reserve $11, 416, 11S. but in the past two
months the gold reserve has grown
81, 701, 273 and the silver reserve has only
grown 81, 1913, S25. The gold reserve is now
S155, S65, 307, and the silver reserve $751;
Isl. 8S3. In exactly one year the gold re-
serve, which was last spring fast diminish
ing has increased S37. 913. O13, and the
silver reserve has increased S33. 712, SOC, in
spite of very persistent efforts to coax the
dollar of the fathers to stir around and be
the dollar of the Som. The gold reserve is
now larger than at any previous time since
1881, except in January, February and
March, 1882, and October and November,
1888.
THE FIGURES IN DETAIL.
1nterest-bearing debt
Bonds at 1 X Der cent S25O 000 OO0 m