Fisherman & farmer. [volume] (Edenton, N.C.) 1887-19??, 1889-11-22
THE NATIONAL FINANCES.
Figures From the Annual Report of
the United States Treasurer

United States Treasurer, Huston, in his
annual report says that the past fiscal year
is characterized as a remarkable one in the
history of the public finances both ;3.e rev.
enues and the expenditures having been ex-
ceeded but few times since the foundation
Of the Government. The former amounted
TO 1881 $50, 05S and the latter to S2g9 -, g7S
inclusive Of 81. 2st2 3f2 paid in premium on
bonds purchased The surplus revenues on
June 30 were So, 16l, 900 a decrease Of $23,
$50, 1913, compared with the year before,
counting premium on bonds ordinary
expenditure
On June 30, 1855, there was in the Treas
urer's custody, in cash and effective credits,
the sum OF S164, 12J. 3}5 and year later the
sum of 800 6+3. S7l. The current liabilities
decreased in the interval from Sl4S POI. 347
TO Sl21, 931, $50 and the reserve from 500
500. 600 to 1898, 091. O47. The gold in the
Treasury in excess of certificates outstanding
was SI93, GO l - in 1855. and $lS6, 257 100 in
1889.
The changes that took place in the currency
were an increase Of about $34, 00O 900 in the
stock OF silver. a contraction Of Sal 900 600 in
the national bank circulation, and loss of
S25 80, OUO Of gold, less than four per cent. Of
the stock. The total stock of gold, silver,
and circulating notes, excluding the certifi-
Gates of deposit. which are merely repreSen-
tative of moneys in the Treasury, was 81 Sos, =
94, $40 for 1888 and 81 6G6, 095, 420 for 1899
S33, OOO, 900 in the total currency Of the
country. As the holdings of the Treasury
decreased III the interval i'll the sum of SAL
OOO 900. the circulation increased about
s., 900 900. The public lost SIS, 900 900 of gold
and $50. 600, 900 of notes and gained $50 600 600
N silver.
The increase of the circulation of silver
certificates was about $50 900, 0O0 having
kept pace with the rate for the two previous
years. Thenew issues Of small denomina-
tiOns appear to have fully supplied the needs
of the country, and no further difficulty is
apprehended in furnishing such denOmina-
tions as they are wanted, within the limits
of the coinage Of silver dollars. These Ger
tificates now exceed in volume every other
kind of paper currency except United States
notes.
The coinage Of the standard silver dollars
has proceeded without any incident worthy
of remark. Without much change in the
amount in circulation. there is tendency to-
ward decrease. As the efforts to increase
the circulation have proved futile, no ex-
traOrdinarv inducements have been held out
to the public to take them.
During the year the national banks with
drew SGT, $40, 900 of their bonds held by the
Treasury as security for circula ting notes or
public moneys. The deposits amounted to
$25, 243, 700. There remained at the close of
the year $14S 121, 49, belonging to 1862
banks, as security for circulation, and S45,-
222, O0O belonging to 270 banks, as security
for deposits. The amount of public moneys
held by depository banks ran down from
$58, 712, Sill to 81, 259, IA. 80, the result
mainly of the voluntary acts of the banks in
surrendering the deposits and withdrawing
their bonds The Semi-annual tax on Circu-
lation amounted to 81, 40, 331 for the year.