Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1888-11-23
FISCAL FACTS.
Government Revenues, Expenditures and
Other Treasury News,
As Given by the Treasurers Report

WAsHISGToS, Nov. 2z.
United States Treasurer Hyatt's annual
report gives the net revenue. Of the govern
for the lat fiscal year. 1919. PCS. .014; net
expenditures, s267 .924 sol Surplus availa-
bic for reduction o. public debt, sIiI,34I.-
2'3; increase - .s70,l75 over the year be-
fore. Compared With 1857. the revenues
Sere - l,s6z,I9i greater and expenditures
g. ,S7s less The treasury balance inereas-
ed during the year from $50 ,224 379 to sl2o,-
so4,24 The ret change Of $50, ,579 500 in
balance was produced by an increase of
-5I 375 s465 in assets and decrease of
s23 ,053 ,334 in liabilities The silver bal
ance fell of more than s27 600, 900. The
principal increase Of assets was in U. s.
notes and deposits in national banks, and the
principal decrease in liabilities in the public
debt and funds for redemption Of national
bank notes. There was net decrease of
sIi,I3rs2o IN the principal of the interest
bearing debt. The total purchases of bonds
for the sinking fund and out of surplus
revenues were SOL ,4G4 800, the net
premium paid, exclusive of accrued
interest. being S. ,270, ,s42 46. Gold and sill
yer coin and bullion in the country, and all
kinds Of notes aud Certificates outstanding
on June 80, 1857, amounted To ST. 925 ,259,-
5s2, and on June 80. 1855, to 81, ,093 ,562,-
072. The stock OF gold and silver increased
during the year from 81 ,0O7, ,5I3. .9Ol TO ST.
052 ,39l $50, thirty-tiye mostly in gold The
increase in the volume of paper circulation
vas ss3, ,42i 400. The redemption OF L. s.
notes at the treasury amounted to s63 s52,-
900. Since the resumption of specie pay
ments only S26, 1856, f54 have been redeemed
in gold, and with an increase of coin certif-
Gates, of which there are nos more
than of legal tenders, the importance of
the latter in circulation has declined
Denominations below $40 are being displaced
by silver certificates and those above s1O0
largely by gold certificates. The volume of
gold certificates outstanding increase $40.
$50 1888, reaching slf2 ,023, l50, the highest
point yet noted, Taking into account the
d5crease3of the amount in the treasury the
total increase Of circulation was S29 ,90l ,l43.
There were issued slO5 .s95, 900 silver certi-
ieste., mostly of denominations of SO and
under, and S2l ,947 ,37s were redeemed The
amount outstanding increased from sl45,-
5i3, $50 to 1929 ,49l,772 increase in actual
circulation, sos, ,43l, 7U7. Ii has been pos
sible to meet the demand for denominations
of one and two dollars and in consequence
their ISSUE was suspended between Oct Is,
1857, and Feb. 3, 1883. Since the latter
date the treasurer has been able most of the
time to furnish them as asked for The
coinage of silver dollars has increased S32.-
iSi ,673, making the total coinage S29y, ,424,
100. The increase in net distribution was
only S39, 1856. Owing to he scarcity of one
and two dollar notes and the demand for
the movement of crops, nine millions were
drawn into circulation between May aud
NoTember, 1888, but when notes were again
to be had the dollars came back to the
treasury as fast as they had gone out.
The treasurer is of the opinion that the
people have all of these coins they want or
are willing to take and recommends if the
purchases of silver are to continue. that the
bullion be put into the form of heavy bars
or ingots, arguing that the present supply of
dollars will be sufficient for any demand
likely to arise ard any increase of certificate
circulation could be based with perfect safe
ty on the uncoined metal The amount of
fractional silver coin in the treasury has not
changed much since the first accumulation
after the resumption of the specie payments
OF the little more than S26 900 held on
June 80, 1883 $50 500, 900 was in half dol
lars and only So 800 900 in other pieces.
The treasurer points out that this proper
ton which doesn't vary much from year to
year, is excessive, and that something like
Sl5 900 600 in fifty cent pieces that are not
needed for circulation will doubtless have
to be carried by the treasury until recoined
into other denominations or absorbed by the
growth of business.
EAt the close of the year the treasurer held
sl7S 3l2 $50 in t. ). bonds to secure nation
al bank circulation, and S57 l2S 900 to Sc
cure public moneys held b. depository banks
There was a decrease of Sl3 65+ $50 in the
amount of the former and an increase of
S29 GAP 500 in the amount of the latter
There was SOS, ,sl2,5ll of public money held
by the banks, an increase of $50, ,S95, ,633.