St. Landry democrat. (Opelousas, La.) 1878-1894, 1889-12-07
Uncle Sans Cash Account.

A Washington dispatch to the World
gives the following account of the cond1-
ton of the national treasury:
J. N. Huston, treasurer of the United
States, has made long report to the sec
rotary of the treasury of tina operations OF
his Office during the last fiscal year and
the condition of the treasury on June ~
last, The year is characterized as 70,
markable oGe in the history of the pubic
finances, both tue revenues anC the eXpen-
ditures having been exceeded but few
times since the foundation Of the govern
mept. TIE former amounted 10 1881 =
O5O C5o, and the latter to 1929, 2SS, 97S, i'll
elusive of 5l7. 1872 1862 paid in premiums on
bonds purchased. The surplus revenues
June so were $97, ISL $50, decrease Of
1925, $50. 1913, as compared with the year
before, counting premiums on bonds as an
ordinary expenditure.
On June 80, 1888. there was in the treas
urer's custody, in cash and effective cred
It's, the sum of $1G4. 1873 1913, and a year
later the sum of $3.50, 1871. The cur
rent liabilities decreased in the interval
from S149. 291, 347 to 1927, 931 $50, and the
reserve from 1928, 905, 900 to $l93 G97- 047-
The changes that took place in the cufren-
CIV were an increase of about S34 O00 oVU
in the stock Ct silver, contraction OF S4l,-
900 GOO in the national bank circulation
and g. loss of $50, $50, 900 of gold. The
amount of the loss is less than per cent
of the stock of gold and is not considered
significant in view of the increase Oh
American visitors to Europe the past sea-
son, ard the rapid influx Of gold during
the two years preceding the last. The
total stock of gold, silver ard uircu'a+ing
aoFes was So, 095 324 ST in 1888 and 81
O99, 96S. rs in 1889.
As the holdings of the treasury de-
creased in the interval in the sum of $41,-
600, 600 The circulation increased about
S., 0O0,O 600. The public lost $4,000. 600
of gold and 100000 of notes sno
gained $56, Coos 900, IN silver. The in
crease of the circulation of silver certid-
estes kept pace with the Fate for the two
previous years.
During the wear the national banks with
drew $3.50, $40, 800 of their bonds held by
the treasurer as security for circulating
notes or public moneys. The deposits
amounted to $25, 243, 700. There remained
at the close of the year $149, 121, 450. be-
longing to 1862 banks, as security for cir
culation, and SIS, 222, 600 belonging to 27O
DduhS DIS SCCu1ltJ Iol NC pO2AbS. Al WIN A"S'
ten years the number of active banks has
increased nearly 80 per cent, while the
amount Of bonds held TO secure their notes
has decreased in about the same proper
ton The minimum limit of bonds for
the present capital of the banks is only
about fifty or sixty millions below the
amount now On deposit. The amount OF
pubic moneys held by depositsry banks
ran down from $56, 7l2, Sill to $47,259,-
714.39, the result mainly of the voluntary
acts Of the banks in surrendering the de-
posits and Withdrawing their bonds. The
semi annual tax on circulation amounted
to 81 ,4l0, l31 for the year.
In proportion to the circulation the bond
red,mptions were unusually heavy, but
here has been distinct falling off since
February. An investigation of the causes
which have produced the large accumula-
ton Of funds in the treasury for the re-
tirement of these notes leads to the con-
clusion that unless unfavorsble conditions
should arise the amount will continue to
run down until it reaches an unimportant
figure.
The report closes with some criticisms
on the inferi3rity of the provisions for the
safety of the public funds and the conven-
fences for the transaction of business, and
makes certain recommendations for ln}s
provements IN this respect.