River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1888-11-29
uNcLe SANS BOOKS.
Annual Report of James w Iry-te.
Treasurer of the Quilted states-Figures
Showing the Operations OF the Treas
ury During the Fiscal Year.

Annual Report of James W. Iry-+s.
Treasurer of the Quilted states-Figures
showing the Operations of the Treas
ury During the Fiscal Year.
WASHINGTON Nov. 23-United States Treas-
urer Hyatt IN his annual report Of the opera-
tons during the year and condition Of the
Treasury at the close Of the fiscal year ended
June 81, lsss reports the net revenue OF the
Government for The year s359 266, ga. and the
net expenditures 500 "a, sol, the surplus re-
eeipts available for the reduction OF the public
debt being sIii.S4l2s3, an increase OF s5.esO.i75
over the year before. As compared with 1851.
the revenues were s7,s02,7T greater and the
expend lures s7.S5s less. The Treasury balance
increased during the year from SOS, s2i 379 TO
29,sl82i2. The net change OF s6o.57e, s63
in he balance was produced by an increase Of
sj7526, us in the assets and decrease OF s28-
053,39i the liabilities. TIE silver balance
fell on more than s27,0J0,000. The principal in
crease Of assets was IN United States notes
and deposits in Nat onal banks. and the prin-
cipal decrease OF liabilities In the public debt
and the funds for the redemption OF National
bank notes. There was a net decrease OF s7i,-
fgSs $50 during the fiscal year in the principal OF
the Understanding debt The total purchase
on bonds for the sinking fund and out OF sur
plus revenues were g 49,, 80, the net premium
pad. exclusive Of accrued interest, being sS.-
Z71sl2.46
The gold and silver coin and bullion IN the
country, and all kinds OF notes and certificates
outsta ndrng on June 81. 1857. amounted to al
9-5 269, $50, aud on June 30 1883 to s2O93 562072
The stock Of gold and silver increased during
the year from sl,0075l2, 9Jl 10 y 0e2, 59 690.SS
mostly in gold The increase ia the volume Of
the paTer circulation was SSl424 401 resulting
from an increase Of sil0,3l095l IN the amount
OF certificates and falling OF OF sec, saa 554.55
in the total OF notes and fractional currency
The redemption Of United States notes at
the Treasury during the year amounted to
t0335s,OJO Since the resumption Of specie
payments only Sc, 73G, 454 have been redeemed
IN gold; with the increase Of coin cert fe ties,
OF which there are now more than OF legal
tenders, the importance OF the latter in the
circulat on has declined The demon nations
below $40 are beng displaced by silve.
tficates, and those above 500 largely by gold
certificates. The volume OF gold cert hcates
outstanding increased s20536,333 reach ng
sl41,0e3 $50, the highest point yet noted az the
end Of OF any fiscal year.
Taxing into account the decrease OF the
amount in the Treasury. the total increase OF
tie circulation was SO, 9Ji, li3 There were
issued Sos $4,000 OF silver certificates, mostly
of the denominations Of SO and under, and
s21, g47.3is were redeemed. The amount out
standing increased from sl455i3. $50 TO s2S9.-
4si,T72 The increase in the actual circulation
was s5S4l,107. II had been impossible 10
meet the demand for the denominations Of 81
and IL and IN consequence their issue was
suspended between October IS 1881, and Feb
ruary 3, 1888. Since the latter date the Tres
urer has been able most of the tine to furnish
them as they have been ASKED for.
The coinage OF silver dollars during the year
amounted 10 i32,4sf,673, making tho total coin
age $50, 424, 100 The increase OF the net dis
tr button was only s39. 1855 Owing TO the scar
city OF 81 ana g notes and the demand for the
movement of crops nearly $4,000 we're drawn
into circulation between May and November,
1887, but when the notes we're 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 peo-
pie have all Of these coins they want or are
will ng to take, and recommends that II the
purchases Of silver are to cont nue. the bullion
be put into tie form OF heavy bars or ingOts,
arguing that the present supply OF the dollars
W II be suff1c ent for any demand there is kelly
TO be for ttem, and that any increase OF the
cert heate circulat on could be based with per-
feet safety 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 specie
payments. OF little more than s26,0O0,O0
held on June 81 1855 $50. $4,000 was IN half dol
lars and only S5,5O0O00 in other p eces. The
Treasurer points out at this propo-t on,
which does not vary mucn from year 10 year, is
excessive, and that something like SIS, 10000
in ffty-cent pieces that gre not needed for Cir
culation Will doubtless have 70 be carried by
tie Treasury until they are rcco!ned into other
denominations or absorbed by the growth OF
business.
At the close OF the year the Treasury held
S17s, 3l2, $50 OF United States bonds to secure
National bank circulation and $50 12S,OOJ to
secure public moneys held by deposItary
ban s. There was decrease during the year
of el3654O5J in the amount of the former, and
an increase Of $50, 6425 10 in the amount OF the
latter There was s5&112,511 OF public money
held by the banks an increase Of .33, $500
The net proceeds Of the National bank notes
redeemed during the year was Sgs, 2f5,123. The
redempt ous were IL 10000 greater than
those OF the preceding year in the face OF re-
duction OF $50, 501, 091 in the two years in the
amount outstand ng, and greater in proportion
to the circulation than those Of every year
save two since 1879 The redemptons
from the 5-per-cent funds were s43, SO 1856, aud
those from the funds for the retirement of e.r-
culat on s., f63957. The latter fund excited
much concern early in the year. On July S,
1888 4 stood at So, S27, 10, the highest 20 Mt
IL has ever reached From that time IL de-
elined to s9l, IS ,Si3 by the end OF the fiscal
year The net deposits dur ng the year we're
S44. f23, S83 OF which S76G5S5 was for the
retirement OF the circulation OF banks
in quldat on or in the hands OF re-
ceivers s24,54350i for the reduction Of
the circulation OF banks in active
ex stence and SIS, S13, 797 for the retirement Of
OH notes. TO be replat ed by new issues OF the
same amount. II is expected that the balance
in this fund vii contnue to decrease. The
expense o. Jank-note redemption was Sal, ~,
and the rate Of cost s1.52 2g7l 600 per 5000 re-