Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1888-11-29
THE FINANCE

Hyatt, Showing the CondI1On a. 80
Treasury at the Close Of - Last F1s-
cal Year-The Years Rec4iks ana Ex-
pendltures.
WASHINGTON, Nov. q. u lied States
Treasurer Hyatt in his annIl report OF
the operations during the yef and con.
dition OF the treasury at the lose OF the
fiscal year ended June 30, 1a6. reports
the net revenue OF the Government for
the year, 1919 2680!4. and the lot expen.
ditures, $26z 924. 9o1; the SUPPLY receipts
available for the reduction OF HE public
debt being Sill. "a, 2i3. an ;drease OF
$3.50, us over the year before. las com .
pared with 1887 the revenues we're 81, !.
862, 1877 greater, and the expend 1hres ST..
S7S less. The treasury balance tcreassd
during tho year from $s9. 2l4. 37ako 1923, :
304, 242 The net change OF So -, 1913 in
the balance was produced by an hcrAase
of $37, SOC, 46S in the assets, and &crease
OF $z3, 053, 1874 in the liabilities. III silver
balance fell of more than $27b0O 600
The principal increase OF assetdsvas in
United States notes and depositln Ma
tlonal banks, and the principal decrease
of liabilities in the public debt did the
funds for the redemption OF N&ional
bank notes.
There was net decrease Of SLIPS, go
during the fiscal year in the princiRl Of
the interest bearing debt. The totalpur-
chases of bonds for the sinking kund
aud out Of surplus revenues werek51, :.
464, 800; the net premium paid. exclusive
Of accrued interest," being $3.50. 81. 46.
The gold and silver coin aud buliiok in
the country, and all kinds of notesfnd
certificates outstanding on June 80, BS7,
amounted to 81. 923, $50 49,, and on line
80, 1855, to 81, 093, $50, 07S. The stocA of
gold and silver increased during the War
from $l,007, 513, 901 to 81. 092, 39t, 69)kj,
mostly ia gold. The increase IN the VII
ume of the paper circulation was $St.
AGO, resulting from an increase BE
$110. 319, 956 in the amount Of certificates,
and total falling off of $26, S95, $50. 55ln
The total notes and fractional currency
The redemptions of United States motifs
at the Treasury during the year amount
ed to 500, 352, 600. Since the resumpt1A
of specie payments, only $a6 1876. 45i hayS
been redeemed in gold. With the inI
crease of coin certificates, of which there
are now more than of legal tenders, tho
importance of the latter in the circular
ton has declined. The denominations
below $40 are being displaced by silver
certificates, and those above 500 largely
by gold certificates. The volume of gold
certificates outstanding increased 49,
$50, 1913. reaching $142. 023, $50, the highest
point yet noted at the end of any fiscal
year. Taking into account the decrease
of the amount in the Treasury, the total
increase of the circulation WAS 500 90l, 43.
There we're issued $105 S96, 900 of silver
certificates, mostly of the denom-
nations of $40 aud under. and ST.
947 37S were redeemed The amount OUT
standing increased from $145,543, 100 to
1929 491, IT, The increase in the actual
circulation was $5S, 431. 7O7. It had been
impossible to meet the demand for the
denominations Of one and two dollars,
and in consequence their issue was sus.
pended between October 49, 1887, and
February 8, 1888. Since the latter date
the treasurer has been able, most Of the
time, to furnish them as they have been
asked for. The coinage of silver dollars
during the year amounted to $40, 4S4. 673.
making the total coinage $299, AZ, 100.
The increase CT the net distribution was
only $40, 1875, owing to the scarcity Of one
and two dollar notes, and the demand for
the movement of crops. Nearly 100000
were drawn into circulation between May
and November, 1887, but when the notes
were again to be had, the dollars came
back to the treasury as fast as they had
gone out
IL ne treasurer IS OF CH0 opinion La66
the people have all Of these coins they
want or are willing to take, and recon-
mends that If the purchases Of silver are
to continue 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 there Is likely
to be for them, and that any increase of
the certificate circulation could be based
with perfe t safety on the union metal.
the treasury has not changed much since
the first accumulation. latter the resump-
ion Of specie payments. Of a little more
than S26, OOO, 900 held on June 80. 1888, $20,-
SCI, 600 was in half-dollars, and only ST.
,00, 900 in other pieces. The Treasurer
points out that this proportion, which
loes not vary much from year to year, is
and that something like
f15. 005, 900 in fifty-cent pieces that
ire not needed for circulation will doubt
ess have to be carried by the Treas ury
Until they are recoined into other de-
or absorbed by the growth
If business.
At the close of the year, the Treasurer
leld 1882 $50 of United States bonds
% secure National bank circulation, and
;5S, $4,000 to secure public moneys held
oy depository banks. There was de-
crease during the year of SIS, 65i 1850 in
he amount of the former, and al in
crease Of 500, 642, 500 in the amount Of the
after. There was SIS, 512,511 OF public
money held by the banks, an increase of
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